Disney Visa Minimum Fee

[Ryansdad0727]

I know it's petty but has anyone else noticed that Disney Visa has started applying a $1.50 minimum monthly fee to thier account. It just ticks me off that even with paying it off every month they are still getting something from me.

 

[herdtoDisney]

I got the notice about that a few months ago and I cancelled it. The nerve of them! I won't stand for it, and went back to my credit union card, which has a better interest rate anyways and NO fee (I pay my card monthly anyhow).

 

[DawnM]

No. And I don't see it on any of my recent statements. What am I missing? Where would it be?

I will definitely cancel. $18 per credit card per year not worth it.

Dawn

 

[GrnMtnMan]

I've not had any monthly fees applied to my account. Are you sure that you're not talking about the $1.50 minimum monthly finance charge?

Have you ever carried a balance on this account? Even accidently...or had a late payment? I ask because I ran in to this a last year when a payment I thought I had made (had recorded it in Quicken) didn't go through. As a result, the payment looked to be a 3 days late when the error was corrected and my payment went in. It took a few calls to get the error resolved, and all charges were refunded.

But for the next few billing cycles, I was charged a finance charge, because the 3-day (not) late payment had a finance charge associated with it. So when I paid my balance in full the next moth, there were a few cents related to that reversed finance charged that triggered another finance charge. This was all eventually fixed without me having to pay a single cent of finance charges, but it took several calls over a few months to get it fixed.

Bottom line is the Chase fee disclosure doesn't say anything about monthly or annual fees, so you should take another look at this.

 

[ICF]

I haven't seen this on my account either?????????

 

[smitch425]

I know it's petty but has anyone else noticed that Disney Visa has started applying a $1.50 minimum monthly fee to thier account. It just ticks me off that even with paying it off every month they are still getting something from me.

Do you mean that they are charging you that fee because you didn't charge anything that month so they want to at least get $1.50?

Just reviewed my statements and I have no fee whatsoever. My most recent month closed yesterday. I would call them immediately to see what's up.

 

[marie1203]

We have two accounts and we never got the notice and there are no charges in neither one of our accounts. I wonder it is was just for certain costumers that spend under certain amount?

 

[indimom]

I haven't experienced this either, and I go through that bill every month with a fine tooth comb.

 

[savannahcat]

No extra fees on my account.

 

[GrnMtnMan]

Here's why that $1.50 minimum monthly finance charge is being triggered:

Let say you are going to pay your balance in full, after carrying a balance for some time. Your statement closes on January 1, with a balance of $100, including interest and fees. You get the bill on January 8, and immediately set up a payment online. You pay that $100 in full, and the payment is applied January 11.

Well, you still owe because interest will be charged on the $100 for the 10 days between the 1st and the 11, when your payment was applied/received. So even if you charge nothing the next month, you'll still owe the minimum finance charge of $1.50 for the period between statement closing and making payment. And the next month this could repeat beacuse you'll owe a few days of interest on the $1.50 finance charge.

The only way to get out of this cycle is to make payment in full, including anticipated finance charges for the month BEFORE YOUR STATEMENT CLOSES. Otherwise you'll always owe some minuscule amount in interest, and always be charged the minimum monthly finance charge.

I think in my case, the rep back dated the charge reversals to BEFORE my statement closed the previous month, so that my payment plus reversed fees gave me a zero balance on the prior months closing day, turning off the interest cycle.

 

[Ryansdad0727]

UPDATE: I called and Grntnman was correct. I did a small cash advance and since i paid the balance off in full after the closing date they prorated the amount i would owe into the next billing cycle. I should not have a minumum interest charge next month. Sorry to stir up a hornets nest.

 

[VAfamily1998]

UPDATE: I called and Grntnman was correct. I did a small cash advance and since i paid the balance off in full after the closing date they prorated the amount i would owe into the next billing cycle. I should not have a minumum interest charge next month. Sorry to stir up a hornets nest.

You totally scared me! Before I got to the end of the thread I was looking up my account online and looking through all my past statements!

 

[GrnMtnMan]

I did a small cash advance

Yeah, it's kind of nasty how they charge interest from day 1 on advances.....it's be nice if it was just a flat transaction fee that didn't have a finance charge unless you carried a balance over to the next month.

If you see a finance charge the next month, make sure you have the rep correctly date the any correction....I thinks that's what caused me to make multiple phone calls.

 

[DawnM]

Glad you figured it out. You had me ready to cancel my account.

I have never done a cash advance and I am not even sure how to do it.

 

[rvchat]

Glad you figured it out. You had me ready to cancel my account.

I have never done a cash advance and I am not even sure how to do it.

woa. so glad it's not what i thought either. So fed up with these fees and banks (who make money every which way, up down, spreads, sideways).

I would HAVE CANCELLED asap if this were an added fee.

 

[A Mickeyfan]

Just read thru all of the posts and was ready to say that I have never gotten that fee either.. now I see why....

but... has anyone gotten the "invitation" to upgrade to their new card.. They are charging a $49 a year fee for this new Disney Visa card, you can earn twice as many points or something.. I saw the fee and tore it up. I don't care that I can earn more points..and the points are good at more places.... I am not giving them any of my money to earn points.. I can easily go to another one of my cards and earn more actual cash if I want...