You can use the rewards points like a debit card for anything Disney - Disney Hotels, Park Passes, Meals at Disney restaurants, souvenirs in Disney stores, etc. I've accumulated $1900 in Disney Points and paid for our entire 5 day trip for 5 of us at the Disneyland Hotel with my points! I always pay my bill on time and in full so the $1900 in points are like FREE money!
Don't forget other Disney Visa perks: (full info is found online at Chase Disney Rewards Card Benefits)
FREE stroller rental at DL and CA with your Disney Visa Credit Card (2 single strollers per day of your trip)
Exclusive Character Meet 'N Greet in CA Hollywood Pictures Backlot. Offered 30 minutes after park opening for 90 minutes. Up to 6 people per card. Complimentary 5x7 photo experience with some of your favorite Disney Characters.
10% off $50 merchandise purchases at select Disneyland Resort Stores and Pin Cart locations.
10% off at DL Park Dining: Rancho del Zocalo, Carnation Cafe, Redd Rockett's Pizza Port
10% off at CA Park Dining: Pizza Oom Mow Mow, Wine Country Trattoria
10% off at DL Resort Dining: Yamabuki, Steakhouse 55(dinner), Disney's PCH Grill(dinner)
20% off Select Tours: Welcome to Disneyland, A Walk in Walt's Footsteps, Discover the Magic, Cruzin' Disney's CA Park (Call 714-781-4400 for reservations 30 days in advance)
Disney Visa Dream Vacation Package perks (Mickey's Toontown Morning Madness, Disney Reward's Pin, Preferred Parade Viewing, Preferred Seating at select CA attractions, Free Disney Backpack, Downtown Disney Fun Card, Magic Morning admission