Disney Visa Balance Transfers

[BedKnobbery2]

Hiya Folks!

Thought I'd post a helpful hint here for those of you with the new Disney Visa card. I tend to be a person who likes to use only one card, so I only have 1 credit card bill to pay. Problem was, I was carrying a small balance (but big enough for me not to be able to pay it in one fell swoop) on my 'regular' card when the Disney Visa arrived. When I finally got around to doing a balance transfer, I couldn't find the literature that talked about rates. I was *pretty* sure transfers were charged at the standard rate, as I thought I'd read that in the fine print when it first arrived. So I went to the website, signed up for account access online, and tried to find the rate there....to no avail. I did find, however, that there is a transfer fee of a minimum of $5, or 3% of the transfer with a maximum of $50.

I really wanted to know the rate before I transfered, though, so I called the Disney Visa number on the back of my card, got an operator and asked. Now as I said, I'm fairly certain the transfer rate on the card had a number, and was not zero....but she said she could offer me 0% for the first six months, and if I did it over the phone, she'd waive the transfer fees. This is perfect for me, as I plan (HA!) to have the balance paid off within 6 months. Thought I'd pass that info along to anyone else who got the card and has balances on other cards they were thinking of transfering.

Your favorite armchair financial planner,
BK

 

[CarolA]

Actually if you call credit card companies they will do all kinds of things.

I called Discover on April 13 to activate my two month old card to pay my taxes (It turns out that was all Turbo Tax would take!) While I was on the phone my balance transfer rate dropped TWICE! Each time I said I had no balances to transfer it got lower LOL!!! My favorite line was when the girl said she would hold, while I checked my credit cards to make sure I had not forgotten some balance I wanted to transfer!

 

[mrsv98]

Just a head's up....if you read the fine print in the brochure that came with the card, you will see that balance transfers do not count towards your rewards points. I signed up for the card with the intent of transferring a balance we had and was very distressed to find this info. I looked thru all the info available before I signed up and could find nothing about transfers. So the card sits unused because I didn't really want another card, just the reward points.

 

[4greatboys]

Guess they didnt want my money. When I called to get my card I didnt know there was a transfer fee so after I gave the rep my info she told me what the fee was. I told her then to cx the transfer because I do have other cards that will waive it so she canceled the transfer--not once did she offer to waive it.

 

[BedKnobbery2]

Hi Deena,

You said you tried to transfer when you called to get the card--was it a while ago? Have you received your card yet? Maybe they've changed the policy now that the cards have been released. I just did this yesterday.

Right, Mrs. V, I forgot to mention that you don't get points with balance transfers. However, some people (like me) prefer to have a balance on just one card, and since this is the card I plan to use most often now, it made sense to transfer to me.

Anyway....I hope it does help (and not frustrate!) someone.

BK

 

[zurgswife]

I'm the Queen of keeping any balances on the lowest interest rate card I have...and I have never had Balance Transfers be eligiable to be put toward any rewards programs....So, Disney's visa isn't different then any other credit card company....

 

[4greatboys]

It was when I applied for the card they offered me the transfer. I have since recd my card and have even used it (to get my pin). I wasnt really after the point in the balance transfer but wanted the 0%. But oh well, I'll just transfer the balance to another 0% no transfer charge.