Disney Visa....grrrr!

Discussion in 'Budget Board' started by ncbyrne, Mar 14, 2008.

  1. ncbyrne

    ncbyrne DIS Veteran

    Oct 24, 1999
    Our interest rate went way up on this card, so last month I called Chase to get a pay-off amount. I was given the amount of $2,047.25 so I wrote a check out for that exact amount (using tax rebate $). Today I get a bill for $11.74! I just got off the phone and that amount is the "residual interest"! WHAT!? I've never had to pay an additional amount after I specifically asked for a pay-off amount!
    And, what's even worse ---- I still have $7 in Disney Rewards on the account. I originally had all our points put on a rewards card for our last trip. Well, now I'm told that the rewards card expire! And, to get a new one requires a minimum of $20 in rewards. What a rip off! So now I have keep charging on that card, or eat the $7. I choose to lose the $7. And I will N-E-V-E-R charge on this card again! Ahhh, that feels better.
  2. neffernie

    neffernie DIS Veteran

    Nov 9, 2007
    Totally agree. I will never use Chase for anything ever again. Keep an eye out next month for a bill for interest charges on the $11. That's what happened to me.:furious:

    Good luck in the future!
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  4. cats mom

    cats mom DIS Veteran

    Oct 25, 2000
    I hate the whole residual interest thing too... but for what it's worth Chase is certainly not the only one employing that tactic.
  5. of the seas

    of the seas Of the ccccccccc

    Feb 19, 2006
    That always seems to happen on my Capital one card, too. How does that work out? I mean how is that possible if you pay it off? I've always wanted to know. When I asked Capital One that question, he didn't know and was hard to understand his English.
  6. stephbillalec

    stephbillalec Mouseketeer

    Mar 23, 2006
    Most CC do this. Unless the full amount (2K+) was charged in that particular billing month, there will be interest to be paid during the following month even when you pay the balance in full. This happened to me a few years ago. It stinks!
  7. moonbeams4

    moonbeams4 Mouseketeer

    Jan 31, 2008
    I just want to say thank you to the OP for kicking me in the rear as I have been waiting until the 20th (DH's payday) to pay the $46.96 I owe to our credit card (not Chase) after we paid them $9100 last month. So I just went in and paid them now, hoping that maybe that'll be the end of it. Thanks for the reminder to be more proactive.
  8. wowsmom

    wowsmom DIS Veteran

    Jul 6, 2006
    Over the years, we've paid off credit cards and then gotten the bills the following month that were just interest charges. We've always called up and asked them to take it off and they always have.

    I don't have Chase but we've done this with a variety of cards - Citibank, AT&T, National City, etc. When I called AT&T after paying it off 2 years ago, they did ask if I was planning on closing the card and I said no and then they asked if I had paid it off with a balance transfer and I said no (which was the truth) so they said they would reverse the remaining interest.

    Of course, with the way things are now, they might not be willing to do that any more....:confused3
  9. jennilynn510

    jennilynn510 Lovin that mouse !!!!

    Jan 15, 2007
    i hate chase with a white hot passion. i sooooo wish disney would choose anyone else !!!!!!!!!!!!! just be happy your done with them for good
  10. ericamanda01

    ericamanda01 <font color=deeppink>Some people dream in black an

    Mar 23, 2004
    I had something similar with another card. I got sick of the fees that they tried to sneak in. So I called for a payoff amount. But I played it well. I overpaid by $20 just to be safe. Sure enough I got the bill for the next month and they said that they hadn't included the interest for that day I called for the payoff amount. Since I overpaid they were forced to send me a check. I hate the games credit card companies play!
  11. Illuminations_Rocks

    Illuminations_Rocks DIS Veteran

    Mar 31, 2007
    I don't know if this is possible with credit card companies, but when I called for payoffs on auto loans, I would ask for a "10-day payoff amount". That amount included the interest for the next 10 days after the day I called (they give you the actual date), thus giving time for the check to reach them.

    Again, I have no idea how the interest works on credit cards, but it's worth a shot?
  12. Goofyzgurl

    Goofyzgurl DIS Veteran

    Mar 20, 2001
    Boy, I'm so glad that I'm not the only one. I am paying off my chase cc and not going to use them again. I once got a late fee for .56 cents b/c I thought that when I asked for the pay off amount I was getting the PAY OFF.....:rolleyes:
  13. OhMari

    OhMari WDW PreTrip and Trip Moderator Moderator

    Apr 23, 2000
    I have my Disney Chase set up that I pay by phone. When I charge something for my trip, I make sure I have the money in my checking account. As soon as it is posted to my account, I go in and pay it. I know it is not always possible for other people to pay off their cards. But it works for me. I don't get charged any interest. I'm sure Chase hates people like me.

    Example-I purchased our Nascar Tickets yesterday. It posted this morning-I called and paid it off.
  14. lg3

    lg3 <font color=darkorchid>The '80's must have been ha

    Apr 7, 2006
    Why the anger? Call them and explain the situation - they should waive the difference if they gave you a payoff amount, assuming you paid it within a very short time frame. This is not unusual with any cc transaction. Chase is like anyone else. :confused3
  15. bigolive9

    bigolive9 DIS Veteran

    Oct 9, 2005
    If you are going to pay off a card with Chase, pay it off the day the bill cuts- not the day you get it in the mail (because there will be interest between the day of the statement and when you get it), but the day they cut the statement. Usually, you can see this online, or you can look at several previous statements and figure out the day. I paid off one of my Chase cards pretty far in the billing cycle, and I had $4.39 in interest charges. Chase calculates interest twice every billing cycle, so if you don't pay it off the day the statement cuts, you will get interest charges.
  16. Karlzmom

    Karlzmom DIS Veteran

    May 16, 2007

    :rotfl: :rotfl: :rotfl: you're kidding, right? Have you ever dealt with Chase? The are the equivalent of offspring from non-married parents from by-gone days.;)

    My personal favorite was my (4-figure) payment came in the day after a charge was posted that pushed me a whopping $300 over my "limit". Chase, being "helpful" instantly raised my credit line by $3000, but not before they hit me with all kinds of fees for going over limit. It actually took me a minute to figure the whole thing out, as on the billing statement it only reflected the new limit with substantial open credit due to the payment and the bigger line. I actually pulled an older statement from my file to verify what the line had been. Ok, I get it, I am an attorney afterall....limit was X, and I was over it...but clearly I'm customer who is properly at Y credit limit (as demonstrated by their auto increase with request or notice). When I called to ask about having the charge removed the *friendly* rep told me that they wouldn't remove it, because the charge went in before my credit line got bumped up!

    Needless to say, I was not a happy camper! The true kicker in the whole thing is, included on the statement was my $325 deposit for my vacation in Dec. :rotfl2: If I hadn't paid the deposit when I called, and instead waited the full "courtesy hold" period it all would have been fine! Thinking about it now cracks me up, but I confess I was not so amused at the time.
  17. Jalva22

    Jalva22 DIS Veteran

    Aug 9, 2004
    Absolutely nothing unique with Chase in this situation. Every card company will do this. It's right there in all the cardmember agreements.

    The lesson here is not that Chase is a uniquely horrible company (I say "uniquely horrible" meaning they're no more horrible than any other card company). The lesson is to pay your credit cards off in full every month. The second you begin carrying a balance is the second they have you right where they want you.
  18. LorieR

    LorieR DIS Veteran

    Oct 18, 2001
    I never heard of this? I have been using the Disney Visa since "day 1" and never carry a balance. I do make several payments between the time the statement is "cut" and the due date and have NEVER been charged interest. :confused3
  19. ncbyrne

    ncbyrne DIS Veteran

    Oct 24, 1999
    I did call and ask for it to be waived. I was told that she "might" be able to do something if it were under $5, but not $11.

    This is the only major credit card I have ever used and not paid off each month. It all started one month when I needed a roof repair and didn't have the money to pay it off completely in 30 days. If that situation ever happens again, I'll go to bank.

    I also have a Delta Skymiles card which we use for everyday spending....groceries, gas, quick trips to the corner market, etc. But the money is put into an envelope along with the receipt with each purchase and we have never paid interest on that card. But...it's been a great way to pay for all of our air fare to MCO on every trip to WDW.
  20. miss missy

    miss missy Is this the Dis Board Desperate Housewives?!

    Jan 31, 2005
    I just got the card and am doing that same thing online, is it faster to post online or via phone? Dont ever wanna get stuck!
  21. dzneelvr

    dzneelvr A Disney Dolly<br><font color=deeppink>Doesn't min

    Jan 11, 2003
    I hate to say it, but if you don't pay off the balance on any card, you will have interest on the amount unpaid begin to calculate from moment 1. That's standard practice, not limited to VISA. We love ours--it's a VISA, which I've had since college days anyway; it gives us Disney reward dollars; and it's accepted everywhere. I pay off every cycle with one check and have never had an interest charge in over 25 years of use:wizard:

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