Disney Visa - rate change ?

[stacieps]

I have finally gotten a notice from Chase that they will be increasing the rate on my Disney Visa. I currently have a balance on that card and will want to "opt out" and close the account so that I don't have to pay the increased rate. If I move my Rewards points to a Rewards card prior to closing the account, will I be able to use them, or will the be cancelled when I close the account? I have to notify them by 9/25 to cancel the account, but I wasn't planning to use the Rewards until November; I would rather not lose them.

 

[reducereuserecycle]

here is what i did a few months ago.

called (but you can do it online) and transferred all the rewards to a rewards card. i asked them the exact same question you are asking and they told me i would be fine to close the account at anytime. i was still nervous so i waited till the rewards card arrived (about one week) then activated the card which has an expiration date of one year plus the rest of the current year (so your card, like mine will expire Dec. 2010). once the card was activated i closed my account.

it is really simple but a little scary when you think of loosing your rewards.

i'd suggest transferring your rewards asap so that you can have that rewards card activated and in your hand before you close the account.....just that extra security helps

oh, and i used the rewards card balance last week towards our reservation deposit...so, yes, the card worked


on second thought, since there are so many changes with cards at this time, i would double check with them when you call to transfer the points...i just don't want you to loose the rewards because i misguided you...so just ask them and they will know

 

[secretpantssam]

I also got some sort of generic letter form Chase about change in terms, but it didn't seem to say anything specific about raising rates. I'll have to to really read it over a bunch of times to make sure they're not going to do anything terrible.

 

[griergirl2]

I used my rewards card to purchase gift cards-that way they never expire

 

[kaguilbeau]

The notice I received yesterday said my rate was going up to Prime + 16.04% (or something like that) for a total rate of 20.04% (or some other tenths of a percent).

I carry a balance even though my intention was not to - and I will be closing this account after I receive and activate my rewards card.

Maybe this will finally be the straw that makes me stop using credit cards!

 

[bcinohio]

Watch your Chase card for rasing the min payments from 2% to 5%. We have a BP Visa from Chase and I received our bill in the mail the other day and they raised the min. payment. We have not used the card in a long time it just has a balance from some repairs we had to do a few years ago on it. The min payment went up $280 a month more than what it was. I called to complain. I pay on time, never late or miss payments. They said oh well. I said as soon as I can pay it off or transfer it somewhere else I will. The guy told me you will pay it off faster with a higher payment.

 

[amshowers]

Order your rewards card now, and use it right away to buy disney dollars or disney giftcards before you close your account.