Disney's credit check - what gives

[wendyt_ca]

Actually, for mortgage purposes anything over 600 is considered good credit. I get "A" rates for my clients for 100% financing and extended amortization (up to 40 yrs) with 600 Beacon or above. Now, if we are doing stated income products because we can't prove income, the Beacon requirements are higher.

For personal loans and credit lines, most interest rates are tiered, so the higher the Beacon, the lower the rate.

I have a 620 credit score and my fiance a 680 and we got declined for a mortgage last week

 

[wendyt_ca]

how do you get a disney visa in canada I went onto the site and it says us residents only.

 

[seashoreCM]

Based on an experience at a nearby timeshare (where I got a prize consisting of a Universal Studios ticket)...

I am led to believe that if they find out you have a poor credit score and you want to buy a DVC membership and you complain about the high interest that results, they will after only a short argument lower the interest rate to equal that offered higher credit scorers and let you buy in anyway.

Disney hints: http://members.aol.com/ajaynejr/disney.htm

 

[Newcastle]

the only problem with that is she did our credit check and told us we were standard rate before she asked how we were paying the $500 down payment and also said that she didn't need to know how we were going to handle the balance of the down payment or monthly payments - it would be done with our paperwork

so how would she know if we had a US bank account?

We went through the process one year ago and if I can remember correctly, they do charge a slightly higher interest rate if you pay by credit card (I believe it amounts to one percent). That being said, they will charge you the extra one percent regardless of whether you have been granted the standard or preferred rate (I seem to recall receiving four payment charts for a ten year loan...one for the preferred rate, one for the standard rate, one for the preferred rate if paying by credit card and one for the standard rate if paying by credit card). I also recall that we were sent a "credit report" of sorts from an independent company (I can't recall the name at this time). Apparently they were required to notify us that Disney had requested a credit check and they included our credit scores in the correspondence. Again, this is all according to my recollection so I apologize if I've reported anything inaccurately/incorrectly!

 

[Kurby]

I spoke with Judy today and asked her. what she found out was that if there are inquiries (more then 1 in 6 months) on our credit it goes against you. so the fact that we had just taken out a loan and had applied to rent a condo in the city were zinged for it and now have to pay the standard rate.

which SUCKS

we have excellent credit - pay our cc on time, no default payments on anything ever, no bankruptcy, and because 2 business "inquired" about our credit now we have to pay more to Disney. - not happy

so - we've contacted our bank and have applied to have our loan increased and will pay Disney off ASAP and save almost 7% over the same payback schedule