Disney Visa Card Changes - Why?

[mtblujeans]

I got a notice from Bank One today. The following "notice about changes" was included:

"Supplemental Information to Disney Rewards Program

The following terms and conditions supplement the current terms and conditions on the same topics:

Under the Disney Rewards Program, your ability to earn and redeem Disney Dream Reward Dollars will be based on the status of your credit card account with Bank One.

If your credit card account is in default as described in your Cardmember Agreement, Bank One reserves the right to prohibit you from earning or redeeming Disney Dream Reward Dollars and to cause you to permanently forfeit some or all of the Disney Dream Reward Dollars in your rewards account.

If your credit card account is closed for any reason, your participation in the Disney Rewards Program will be terminated and the total balance of your accumulated Disney Dream Reward Dollars will be permanently forfeited.

You will also permanently forfeit any unredeemed Disney Dream Reward Dollars if you or Bank One cancels your Disney Rewards Program participation or the Disney Rewards Program is terminated.

Additionally, any fraud or abuse related to the earning or redemption of Disney Dream Reward Dollars will result in permanent forfeiture of earned Disney Dream Reward Dollars as well as cancellation of participation in the Disney Rewards Program."

That fifth paragraph is what concerned me. We will forfeit any unredeemed Disney Reward Dollars if Bank One terminates the Reward Program. What is up with that??

 

[Jungle Skipper]

yeah, I read the same letter today....seems kinda weird..dont know what to think....Im sure they wont be changing anything anytime soon, but I have the feeling its to cover them in case anyone figures out a loop hole to somehow abuse the rewards program. It sounds to me if you came up with 10,000 rewards points, they could just terminate you and you automatically lose all your points...just to cover them and keep them from losing to much money. Maybe.

Jungle Josh

 

[outstandinfarmer]

I wish I knew how to get 10,000 points. (Especially if I didn't have to spend $1,000,000 )

 

[kdibattista]

I wonder if that has something to do with the Bank One/Chase merger

 

[Divamomto3]

I have an American Express Rewards card and if you pay your bill a minute late in a given month, you forfeit any rewards points earned in that month. You can, however, buy them back at a nominal fee. It used to be $15 but I believe it just went up in the last month or two.

 

[Tony-NJ]

I better redeem mine soon! I just put our Deck on the card to get more points! I would be real pissed if they decided to end the program for any reason. It's the only reason I use the card. The interest rate is too high to carry a balance. We pay off the card every month. ( This one may take a couple of months though! )

 

[PamOKW]

I agree that I think they are closing a loophole -- one that may already have been abused. I think the concern is someone using the points without paying their outstanding balance.

 

[mtblujeans]

I can't help but wonder if they are really closing the benefit to people who may be using the card alot and earning alot of DD. I imagine that if someone charges thousands of $$ a month and pays it off each month - that may not be the type of credit card member they would have expected!

 

[minniecarousel]

We've got $280 to spend in Disneyland this weekend and we're among those who pay it off every month. Yeah - we're probably not who they want as an ideal customer!

 

[ThreeCircles]

I think this is just the typical precautionary measure. You know, the "This cup contains HOT coffee. Do not pour it on your own body or any one else's or you may suffer burns" type thing.

Feasibly, one day either Disney or Bank One could decide to end the program. They probably just want to ensue they have all angles covered to ward off any possibility of lawsuits.

As far as them trying to close the benefit for certain people, I don't think they would do that. The number of individuals who will carry a balance compared to the number of individuals who pay off balances would probably be very tilted.

Plus, we don't really know all of the details of the contract between Disney and Bank One. I'm sure that Disney earns some type of payment or reimbursement for each Disney Reward Dollar spent. Or, this could have been included in the original licensing fee that Bank One paid to use the Disney name.

At any rate, I don't think the program will be going anywhere anytime soon.

 

[AuroraluvsPhillip]

Hmm.. I just got an offer for a Disney Visa in the mail today. 6 months 0% interest, then 10.99%variable! Whoa...That's a card I definitely would not want to carry a big balance over month after month.

What are the Disney benefits of carrying the card? What do you use the reward dollars for? One dollar for every 100 dollars charged can be alot of charging...

Are there any room only discounts offered to holders or only discounts on packages? If so, is the discount better than other available discounts?

Probably should have posted this on the Budget board, but I figured those who have and use the card would read this thread. Thanks!