Disney Rewards Visa seems like a total crock.

[kiddo76]

Many people pay their balances in full each month and don't pay interest. I get it. But what if an emergency comes up? Health or job loss? What then? No one is immune to this possibility. I just can't justify the risk being worth the reward on this one.....so in the trash it goes. Bank of America also practices this kind of "service".

There is no risk. I don't charge any more on my credit cards than I have cash in the bank. If I were using a debit card or paying cash for everything, that money would already be out of my account before the emergency. What's the difference?

DH and I both got Disney Visas to get the $200 gift card. That's $400 that now doesn't have to come out of my pocket for our Disney vacation in October. We haven't used either one since our initial charge to get the gift card because the primary card we use gets better rewards.

Like others have said, I don't care what the interest is on my credit cards, since I don't ever carry a balance. If credit companies ever started charging me interest right away on my purchases, I'd simply stop using the card.

I don't get the anger either.

 

[scard192]

I also received the offer in the mail yesterday. Does anyone know how long you can earn points before having to use them? We aren't planning a Disney trip in the next year or two.

If you leave the points in your account, they do not expire for 5 years from the month they were earned in.

 

[threeboysmom]

I don't get the animosity either...

Make sure to pay off your balance each month and then none of that "fine print" matters. Honestly, I could care less if the rate was 50%. I have the money in bank in case of an "emergency" arises so no worries there either.

Personally, if one can't pay balance each month and doesn't have any savings, perhaps they should rethink owning a credit card.

I've had the card for years and have never paid Chase a cent in interest or fees. I use my card for EVERYTHING even a $2 coffee at D&D. I never carry cash - no need to.

I can't even count the number of Disney dollars I've racked up over the years!! It's in the thousands! All FREE money!

 

[Disneyliscious]

I'm not sure where the OPs anger at Disney Visa is coming from As others have said, their conditions really aren't that different than many credit cards.

I also mentioned this in my first post. In fact, I gave an example.

*Some* of us here at the DIS don't have savings accounts (or LOTS of savings accounts as some have mentioned) with thousands of dollars sitting in them so that we could pay off a balance if an income was lost.

*Some* of us here at the DIS live paycheck to paycheck and can't pay the balance in full each month.

*Some* of us here at the DIS may have to make a late payment every now and then.

Its life. Its reality. It happens.

For those who are not magical creatures with bounds of money in savings accounts, for those who know its just human to have to be late on a bill sometimes, for those who don't or can't pay your balance in full each month like SO many people here do .....my original post was for you, in case you were never one to read the fine print. I wanted to bring to attention the huge risk involved with this "reward".

For the others, my questions have been answered now. You can go back to licking your thumbs and counting your stacks of hundred dollar bills that you have in your savings accounts. I have no doubt that some people here are great at saving money and really do have a nice nest egg savings. However, I also know that there are plenty of "Desperate Housewives" here who like us "internet people" to think they have this and that. If that statement offends you, maybe you should ask yourself why. If it doesn't offend you, then you are secure in what you have without needing internet approval. I admire that.

In the end, the rewards Visa is still a crock for me and mine. Some of you have commented that you didnt know what the big deal was about and just seemed flabbergasted that I felt this way about the card. Here is the fact: Some people choose to get it because it works for them. Some people do not choose to get it because it doesn't work for them. Doesn't really need any more explaining than that. Hopefully someone was made aware of the steep fees with this card (again, for those in the minority of the minority here who don't pay balances in full each month) and will at least give a 2nd thought before getting this particular card.

$200 is a steep gift that is used to lure in folks who sometimes shouldn't get a card. Its JUST as much the banks fault as the consumers. When getting a credit card, there are 2 parties involved (sometimes more) but the bank is an equal holder of responsibility. People seem to forget that as its easier to point the finger to the little man. Banks want you to be late. They make millions that way. Those of you who pay your balances in full (and I think its great for those who do) will eventually see changes as more people become aware of their financial status and become smarter with money.

0% interest will not be around much longer. Mark my word.

 

[JB2K]

OP (and others) - this is Chase, we're talking-about. Chase is not an arm of The Walt Disney Company -- they are a bank...a very big bank. Since Chase is among the biggest banks in this country, they have fallen seriously out of favor with Washington (and Washington has imposed all kinds of rules/restrictions on Chase that no longer allows their cardholders to get the "great deals" they were once accustomed to).

If anything, I am surpirsed the Disney Rewards program is still in play...

 

[kiddo76]

LOL. I don't count my hundred dollar bills, I use them to light the fireplace in my mansion.

Seriously, I don't see the difference between me taking $25 cash out of my bank account to pay for something or keeping the $25 in my account and putting the purchase on a credit card. It's still $25 spent. Except with my credit card, I can earn as much as 5% rewards back. I don't have gobs of money. I just don't spend more than what's in my account, whether it's $2 or $2000 and whether I pay cash or credit.

If it doesn't work for you, that's fine, but the fine print for the Disney Visa is pretty standard for a rewards card. It's nothing to be shocked by.

 

[bumbershoot]

...and whats worse, if you are late on a payment, even once, it goes to 24.24%.


...these banks today.

I am once again reminded today that I am thankful I don't have a single credit card.

NONE of this is new. In fact, 24% is nice, compared to what I experienced with Discover. I signed up for the card in college, a brand new 18 year old. I didn't even get a $200 giftcard; I probably got a frisbee. I used them for 10 years without a problem, then I was finally out of college and grad school and facing the big big world, charged a professional seminar on it...wasn't making money...problems...

29.99% interest. With late fees every month. And multiple phone calls per day, even on weekends.

And that was in the '90s.

So...banks today...meh.

Banks in yesteryear...watch It's a Wonderful Life (horrid movie IMO, can't believe I"m recommending it to be viewed)...see how sweet banks were even back then! They are doing us a huge favor, they are giving us a loan every month... And if we can't use it responsibly, if we get ourselves into trouble, of course they are going to charge us for that.

This isn't a quibble with banks these days, or Disney Rewards...this is just the very concept of credit cards. It's just that the offer sparked it in you. People are confused b/c you're putting it onto one CC, when it's all of them.

And if you owned a bank and made loans, you'd do the same thing.

Hopefully someone was made aware of the steep fees with this card (again, for those in the minority of the minority here who don't pay balances in full each month) and will at least give a 2nd thought before getting this particular card.

$200 is a steep gift that is used to lure in folks who sometimes shouldn't get a card.

Before getting THIS card...when all the cards out there are the same...

The Chase card is one of the harder ones to get. Just so you know. I'm not sure the $200 is really meant to lure in those who are broke, b/c those who are broke and who have bad credit scores are going to have a hard time getting the card.

 

[MomToOne]

I also mentioned this in my first post. In fact, I gave an example.

And as I said, it's up to you to evaluate whether or not a specific credit card works for you. If it doesn't, THEN DON'T GET IT. Answer seems pretty dang simple.

But it DOES work for others of us. 0%, 20% it doesn't matter to us - we don't ever carry a balance. And if they start trying to charge interest day 1 of a purchase, we simply won't use our cards or will close our accounts.

Quite frankly, it sounds like you are actually mad over the fact that not all of us have consumer debt like you do and have the power to do this.

 

[ICF]

It's not a "crock" just b/c you dont like how it works.

Charge what you want -- pay it all off w/o interest on the due date -- earn free $$ for disney.

It's that simple.

If your lifestyle doesnt work for that card (or really any cc) that doesnt mean it is a 'crock' or a bad thing for those people that can make it work fort them....just that it wont work for you.

 

[StitchandPooh'sMom]

Here is the fact: Some people choose to get it because it works for them. Some people do not choose to get it because it doesn't work for them. Doesn't really need any more explaining than that.

I agree with you, here. But there are plenty of credit cards, mortgage terms, checking accounts, etc. that work for some people and not for others. It doesn't make them all a "crock" deserving of the angry smilie. If it doesn't fit with your financial plan, don't get it.

Facts:

The Chase Disney Visa charges no annual fee.
The Chase Disney Visa allows cardholders to get 0% interest on Disney vacation packages for 6 months.
The Chase Disney Visa allows cardholders to earn a 1% rebate that can be used for Disney purchases. Sometimes, bonus offers are available, but you may or may not receive them and you may or may not benefit from them.
Disney Visa holders currently receive discounts and special offers that people who are not cardholders are not entitled to. That is subject to change at any time.

Like any other credit card I have seen, the bank will charge you if you pay late, go over your limit, or fail to pay off your balance each month. These rates may be exorbitant and are spelled out in the cardholder agreement. If you can't pay any card off in full each month, the interest you pay will be more than any rewards you earn.

Any rewards card is generally not a good idea if you can't pay off the balance.

 

[Disneyliscious]

Quite frankly, it sounds like you are actually mad over the fact that not all of us have consumer debt like you do and have the power to do this.

Really? This comment gets the award for Dumbest Comment of the Year.

I don't have a single credit card. I don't have a single loan. I don't use a single bank (have an account with USAA with $0 in it because I don't use banks). I don't have a car payment and owe less than $8k on my house. I have no bills other than my utilities and even then, I have free water. So yes, I am SO mad....no wait....ANGRY that I don't have all this consumer debt that you speak of, which means I don't have (as quoted in your words) "power" to do that.

I haven't paid a monthly bill other than a house payment and utilities in over 2 years now. I'm broke according to the governments standards but Im free from paying bills. I manage just fine, living a simple life.

Please, please...keep your consumer debt. I don't want that "power" lol

 

[Halbleib1]

I also mentioned this in my first post. In fact, I gave an example.

*Some* of us here at the DIS don't have savings accounts (or LOTS of savings accounts as some have mentioned) with thousands of dollars sitting in them so that we could pay off a balance if an income was lost.

*Some* of us here at the DIS live paycheck to paycheck and can't pay the balance in full each month.

*Some* of us here at the DIS may have to make a late payment every now and then.

Its life. Its reality. It happens.

For those who are not magical creatures with bounds of money in savings accounts, for those who know its just human to have to be late on a bill sometimes, for those who don't or can't pay your balance in full each month like SO many people here do .....my original post was for you, in case you were never one to read the fine print. I wanted to bring to attention the huge risk involved with this "reward".

For the others, my questions have been answered now. You can go back to licking your thumbs and counting your stacks of hundred dollar bills that you have in your savings accounts. I have no doubt that some people here are great at saving money and really do have a nice nest egg savings. However, I also know that there are plenty of "Desperate Housewives" here who like us "internet people" to think they have this and that. If that statement offends you, maybe you should ask yourself why. If it doesn't offend you, then you are secure in what you have without needing internet approval. I admire that.

In the end, the rewards Visa is still a crock for me and mine. Some of you have commented that you didnt know what the big deal was about and just seemed flabbergasted that I felt this way about the card. Here is the fact: Some people choose to get it because it works for them. Some people do not choose to get it because it doesn't work for them. Doesn't really need any more explaining than that. Hopefully someone was made aware of the steep fees with this card (again, for those in the minority of the minority here who don't pay balances in full each month) and will at least give a 2nd thought before getting this particular card.

$200 is a steep gift that is used to lure in folks who sometimes shouldn't get a card. Its JUST as much the banks fault as the consumers. When getting a credit card, there are 2 parties involved (sometimes more) but the bank is an equal holder of responsibility. People seem to forget that as its easier to point the finger to the little man. Banks want you to be late. They make millions that way. Those of you who pay your balances in full (and I think its great for those who do) will eventually see changes as more people become aware of their financial status and become smarter with money.

0% interest will not be around much longer. Mark my word.

I see where you are coming from OP. In life there are no guarantees. Unexpected things pop up all the time. Many on these boards were saying not so long ago that they could never lose there jobs as they had "job security" because they or their husbands were teachers etc. and look where those same people are now; they are out of work because of all the cuts.

I would never have a loan of any type through Chase based on their business practices in general. All you have to do is google them to find out how crooked they really are. Here is just one example: http://www.chase-sucks.com/ and there are reports on the internet going all the way back to the 90's- early 2000's. In 2002 we were trying to buy a manufactured home and the company we were going through tried to get us a loan through them so I decided to look them up on the internet and found alot of complaints against them particularly when it came to home mortgages. Yes other banks have similar terms on their creditcards which has gotten way out of hand imo. Most of them are probaby corrupt in other ways as well; but not all of them try to claim you did not make mortgage payments etc. when clearly you did.

 

[KennesawNemo]

If you don't ever use a bank, how do you get paid and where do you put your money? What do you do in the situation when you need to write a check?

Please,there is no sarcasm in above questions. Just really curious. I just never see not having a bank account as an option.

Really? This comment gets the award for Dumbest Comment of the Year.

I don't have a single credit card. I don't have a single loan. I don't use a single bank (have an account with USAA with $0 in it because I don't use banks). I don't have a car payment and owe less than $8k on my house. I have no bills other than my utilities and even then, I have free water. So yes, I am SO mad....no wait....ANGRY that I don't have all this consumer debt that you speak of, which means I don't have (as quoted in your words) "power" to do that.

I haven't paid a monthly bill other than a house payment and utilities in over 2 years now. I'm broke according to the governments standards but Im free from paying bills. I manage just fine, living a simple life.

Please, please...keep your consumer debt. I don't want that "power" lol

 

[threeboysmom]

For those who are not magical creatures with bounds of money in savings accounts, for those who know its just human to have to be late on a bill sometimes, for those who don't or can't pay your balance in full each month like SO many people here do .....my original post was for you, in case you were never one to read the fine print. I wanted to bring to attention the huge risk involved with this "reward".

$200 is a steep gift that is used to lure in folks who sometimes shouldn't get a card.

And with this, I TOTALLY concur. I now understand your point in posting. Not everyone should have a credit card no matter how tempting the reward is. It's easy to get sucked in because of getting "free DISNEY dollars" but it's not for everyone.

Sorry OP - I thought you were just ranting for the sake of ranting. I realize now that you are warning others who may be drawn in by the promise of "reward" and may not be so thorough in reading the fine print.

 

[alice99]

Post Deleted

 

[Disneyliscious]

If you don't ever use a bank, how do you get paid and where do you put your money? What do you do in the situation when you need to write a check?

Please,there is no sarcasm in above questions. Just really curious. I just never see not having a bank account as an option.

No sarcasm taken. I live on a farm and make my living off of it. Most people who buy livestock don't pay with a check so its always cash transactions unless its someone I know. If I do receive a check for something (and I do get rebate checks and stuff) then I deposit it and remove the money as soon as it clears the bank. I don't have a savings or lots of cash on hand but the money I do have is either in my purse, in a cookie jar, or in a safe in my home. Sounds pretty 1920'ish I know, but it works for me. I just refuse to pay money I don't need to pay if I can find a way around it. If I need a debit card, I use a Wal-Mart prepaid card. I only use it when I need it and it costs me less ($3 a month) than a bank would for a checking account (debit card). As far as checks, I haven't written a check in years. When we paid the deposit on our FL rental for our trip the guy didn't take online payments so I bought a $.49 money order and sent it to him. With postage it was under $1 and I can't remember the last time Ive bought a money order before that.

Sometimes we have to pay fees (even me). Thats just life. But if I can find a way to not pay it then its money well saved for Disney. Every year I dont pay $9.00 a month for a checking account is another free park ticket at Disney.

My lifestyle is not the norm, it is not recommended for most, and it isn't perfect or even financially smart but its "me" and Im ok with that.

 

[Disneyliscious]

And with this, I TOTALLY concur. I now understand your point in posting. Not everyone should have a credit card no matter how tempting the reward is. It's easy to get sucked in because of getting "free DISNEY dollars" but it's not for everyone.

Sorry OP - I thought you were just ranting for the sake of ranting. I realize now that you are warning others who may be drawn in by the promise of "reward" and may not be so thorough in reading the fine print.

No need for apologies. Im not always the best at getting my point across

 

[book_junkie]

Oh, did I click on the wrong thread! My mom was going off today about having this card and being mad that she didn't get an advance discount for the Free Dining offer that opened up this week. Never mind that we're better off with our room pin...

continue...

 

[ceecee]

I have had the Disney Visa since they first offered it and have gotten thousands of $ in rewards over the years. We have never paid any interest since we pay it off each month. We also love getting the photos frees at Epcot! If you need to charge and can't pay off your charge each month then look for a better interest rate, Disney Visa isn't for everyone but it works for us.

 

[pigletto]

Well I didn't find your post offensive OP. It looks like you did your research and made a sound decision. It's not for everyone, and I'm Canadian so I couldn't get one even if I wanted to. Which I don't.. so it's all good
I think you make a valid point that the "free" 200 dollars could end up costing way way more if there was a accident/job loss/ even a payment that was late by a few hours! It's something everyone should enter into with eyes open.
If it were something I were considering I would be thankful that someone had taken the time to make sure we were aware of the pitfalls.