ftwildernessguy
<font color=green>I have a linen closet at home fu
- Joined
- Mar 16, 2003
The Disney Visa NIGHTMARE
- Thread starter mikeymars
- Start date
- Status
....just read a post on the DVC board about a DS CM stating the DVC discount will end at the end of the year. May just be rumor though.
Maistre Gracey: Did you find an automatic search function for these boards that scans for words like "breasts" and "augmentation" ? If so....can you send it to me
Maistre Gracey: Did you find an automatic search function for these boards that scans for words like "breasts" and "augmentation" ? If so....can you send it to me
BCVOwner2002
I do math problems in my sleep!
- Joined
- Jul 7, 2002
Boys will be boys!!! And Bank One isn't the Disney Club!!!! Annmarie
Not to mince over tangential detail, but you omitted the last part of your statement, which was:
>>by applying for it, as others have<<
Therefore, I stand by my my correction. By using the word "protest," what you clearly meant to say was "by not appyling for it," ergo, implying that others who are not happy with the program took the so-called "high road" (in terms of making a statement) by not applying.
>>I can't believe that mikeymars has generated this much discussion over this matter. <<
I'm surprised myself, but hey, no one is forcing anyone to get into this discussion!!
>>by applying for it, as others have<<
Therefore, I stand by my my correction. By using the word "protest," what you clearly meant to say was "by not appyling for it," ergo, implying that others who are not happy with the program took the so-called "high road" (in terms of making a statement) by not applying.
>>I can't believe that mikeymars has generated this much discussion over this matter. <<
I'm surprised myself, but hey, no one is forcing anyone to get into this discussion!!
>>I assure you that if you were turned down, you do not have spotless, perfect credit.<<
Uh, help us out here, Golter: according to the models of both Fair Issac and Experian, I have a credit score that puts me within the top 5% of all American households. Is that "perfect?" No, but damn close. So what is you point, Golter? Are you saying that Bank One won't give cards to people who have anything other than absolutely perfect scores?
Go ahead and explain, Golter. We're waiting.
>The idea that bank one issues a card to those who will not use it responsibly is absurd.<<
You are impyling that everyone who has been turned down by Bank One is some sort of irresponsible financial loser. That's an unsupported personal insult to me and many of the othere who have been turned down.
>>If you have managed your credit well<<
Which according to the experts I have.
>>you will not have a problem getting a card.<<
Not when it comes to Bank One. Their proprietary scoring "model" doesn't care about the fact I have a good credit history.
>>Pay your bills ontime and live within your means and you will not have any problems.<<
I've done both, and yet Bank One turned me down.
Again, you "assured" us you're correct, so please explain why that happened.
Uh, help us out here, Golter: according to the models of both Fair Issac and Experian, I have a credit score that puts me within the top 5% of all American households. Is that "perfect?" No, but damn close. So what is you point, Golter? Are you saying that Bank One won't give cards to people who have anything other than absolutely perfect scores?
Go ahead and explain, Golter. We're waiting.
>The idea that bank one issues a card to those who will not use it responsibly is absurd.<<
You are impyling that everyone who has been turned down by Bank One is some sort of irresponsible financial loser. That's an unsupported personal insult to me and many of the othere who have been turned down.
>>If you have managed your credit well<<
Which according to the experts I have.
>>you will not have a problem getting a card.<<
Not when it comes to Bank One. Their proprietary scoring "model" doesn't care about the fact I have a good credit history.
>>Pay your bills ontime and live within your means and you will not have any problems.<<
I've done both, and yet Bank One turned me down.
Again, you "assured" us you're correct, so please explain why that happened.
And just a little more for Golter to chew on, from a previous post on this thread:
"Bank One is one of the worst (IMHO) credit card companies out there and I'm really surprised Disney partnered with them. They're one step above Household Finance or Providian in financial credit services. I wrote a post about this awhile back. I'm a mortgage broker and this has already hurt a couple of people who have came to me for home loans. Disney is marketing this thing as a Magic Kingdom Club Card or The DIsney Club replacement and it is not....it IS a credit card from a less than mid-range lender. Bank One does not use the typical credit scores or "FICO" scores that everyone knows about. They use their own internal credit scoring system that is unknown and is made up of 30 point system. They do not release what goes into the 30 points.
Obviously, mickeymars, you didn't have a high enough score with their system but, you can take solace in the fact that it probably didn't have anyhing to do with how long you have had credit or how you have paid all of your bills."
"Bank One is one of the worst (IMHO) credit card companies out there and I'm really surprised Disney partnered with them. They're one step above Household Finance or Providian in financial credit services. I wrote a post about this awhile back. I'm a mortgage broker and this has already hurt a couple of people who have came to me for home loans. Disney is marketing this thing as a Magic Kingdom Club Card or The DIsney Club replacement and it is not....it IS a credit card from a less than mid-range lender. Bank One does not use the typical credit scores or "FICO" scores that everyone knows about. They use their own internal credit scoring system that is unknown and is made up of 30 point system. They do not release what goes into the 30 points.
Obviously, mickeymars, you didn't have a high enough score with their system but, you can take solace in the fact that it probably didn't have anyhing to do with how long you have had credit or how you have paid all of your bills."
Read the post. It says "The idea that bank one issues a card to those who will not use it responsibly is absurd." It says "not"use it responsibly. The concept of people being turned down because they use their credit too wisely is a joke. Bank One makes money even if you use your card and pay it off in full each month. They lose money on those who do not pay their bills and abuse the card.
Yes, their are some individuals that they make more money on than others, but they still make money. Their scoring model might be different but is still has to do with creditworthiness, its the law.
If you'd like, email me your name and social security number, I can run your credit, we'll go over it line by line and I'll show why you've been declined. If you have not had late/slow pays, collection items,bankruptcy, maxed out or almost maxed out cards, or a high/low volume of debt to available credit....I'll eat crow and post in big letters I WAS WRONG AND WILL NOT ASSUME TO KNOW WHAT IT IS I'M TALKING ABOUT EVER AGAIN... I will preface each quote with a disclaimer that I am a very unreliable source.
Yes, their are some individuals that they make more money on than others, but they still make money. Their scoring model might be different but is still has to do with creditworthiness, its the law.
If you'd like, email me your name and social security number, I can run your credit, we'll go over it line by line and I'll show why you've been declined. If you have not had late/slow pays, collection items,bankruptcy, maxed out or almost maxed out cards, or a high/low volume of debt to available credit....I'll eat crow and post in big letters I WAS WRONG AND WILL NOT ASSUME TO KNOW WHAT IT IS I'M TALKING ABOUT EVER AGAIN... I will preface each quote with a disclaimer that I am a very unreliable source.
Sarangel has been heard; no intent here to turn this into a battle (people can disagree and still be polite).
As for the offer to "run my credit," thanks, but already been there, done that. Subsequent to the decline by Bank One, in addition to reviewing both my Equifax and Trans Union credit reports, I've gone through the "credit assessment" process in beyond ugly detail with two different professional lending experts (to try to find a reason -- ANY reason, much less a "good" one -- why I was turned down). Both came up pretty much empty (and to quote one, "you're not the first person to ask me to try and make sense out of that #^%@&* Bank One model ".
Interestingly, I sent Bank One a letter back on March 26 asking them to give me details on exactly why their sophisticated, highly scientific multivariate model credit assessment model decided to decline my application. As of today -- almost four weeks later -- still no response.
And how loudly that silence speaks!!!
As for the offer to "run my credit," thanks, but already been there, done that. Subsequent to the decline by Bank One, in addition to reviewing both my Equifax and Trans Union credit reports, I've gone through the "credit assessment" process in beyond ugly detail with two different professional lending experts (to try to find a reason -- ANY reason, much less a "good" one -- why I was turned down). Both came up pretty much empty (and to quote one, "you're not the first person to ask me to try and make sense out of that #^%@&* Bank One model ".
Interestingly, I sent Bank One a letter back on March 26 asking them to give me details on exactly why their sophisticated, highly scientific multivariate model credit assessment model decided to decline my application. As of today -- almost four weeks later -- still no response.
And how loudly that silence speaks!!!
Minniemomof4
Mouseketeer
- Joined
- Jan 27, 2003
Could someone who received the platinum card tell me what types of perks it offers over my regular "red" card? I'm just curious!
raidermatt
Be water, my friend.
- Joined
- Sep 26, 2000
I missed some pieces of this thread, so please forgive me if this has already been discussed...
BankOne is required by law to provide a written explanation to any customer they turn down for credit.
Have they done so in this case?
BankOne is required by law to provide a written explanation to any customer they turn down for credit.
Have they done so in this case?
Are you sure you only have a "red" card? Mine is platinum but the only indication of that is on the back where it says "VISA PLATINUM" in thin letters across from the BankOne logo. Also, your credit limit will give you clue too.. I think Platinum cards start at $5k, although I'm sure someone within this thread will probably be able to confirm or deny that.
>>I just am dying to know/see if he ends up getting the card!!<<
Again, that was at best a secondary agenda when I wrote Disney and Bank One (never asked either to "give me "a second look"); my primary focus was to communicate my discontent at how the program was being run.
That stated, as mentioned in my first post, something "must have happened" when my second letter got to Disney and Bank One (per the certified mail return reciepts, that was on Monday 4/14).
For when I came onto these boards on 4/17, learned of the "application update' phone number and out of curiousity called it, I got that "your application is under review" message. That was surprising given I'd already been delcined a month earlier (and had NOT subsequently re-applied).
Yesterday, I called again, got the same message and subsequently hit "0" to get to one of the so-called "advisors" (which is code for First USA phone staff out in the middle of South Dakota).
I explained to her (politely) my confusion over my status (ergo, I applied back in February, got a declination letter in mid March, then found in mid April that the update system was saying my application was "still" under review). She confirmed that "under review" message wasn't some system fluke, and that my application was indeed "active and in process."
I even asked her if that possibly just meant someone was reviewing my app to respond to my 3/26 letter asking for more information on why I ws declined, and she said "no - they don't make apps active to do that; your app is active, and that status only shows up if you are actually being considered for a card."
So, something apparently got Bank One to raise my file from the ashes, albeit exactly what is unclear (again, I suspect -- strongly suspect -- it was an unanticipated side effect of the second letter I sent to Disney and copied Bank One on, but have no proof of that).
Whatever, the outcome of this "re-look" is still unclear: discussion on other threads here has shown that "your app is under review" message doesn't give one any sense of which way the wind is blowing.
Or stated differently, jury still out, more to come.
Again, that was at best a secondary agenda when I wrote Disney and Bank One (never asked either to "give me "a second look"); my primary focus was to communicate my discontent at how the program was being run.
That stated, as mentioned in my first post, something "must have happened" when my second letter got to Disney and Bank One (per the certified mail return reciepts, that was on Monday 4/14).
For when I came onto these boards on 4/17, learned of the "application update' phone number and out of curiousity called it, I got that "your application is under review" message. That was surprising given I'd already been delcined a month earlier (and had NOT subsequently re-applied).
Yesterday, I called again, got the same message and subsequently hit "0" to get to one of the so-called "advisors" (which is code for First USA phone staff out in the middle of South Dakota).
I explained to her (politely) my confusion over my status (ergo, I applied back in February, got a declination letter in mid March, then found in mid April that the update system was saying my application was "still" under review). She confirmed that "under review" message wasn't some system fluke, and that my application was indeed "active and in process."
I even asked her if that possibly just meant someone was reviewing my app to respond to my 3/26 letter asking for more information on why I ws declined, and she said "no - they don't make apps active to do that; your app is active, and that status only shows up if you are actually being considered for a card."
So, something apparently got Bank One to raise my file from the ashes, albeit exactly what is unclear (again, I suspect -- strongly suspect -- it was an unanticipated side effect of the second letter I sent to Disney and copied Bank One on, but have no proof of that).
Whatever, the outcome of this "re-look" is still unclear: discussion on other threads here has shown that "your app is under review" message doesn't give one any sense of which way the wind is blowing.
Or stated differently, jury still out, more to come.
>>BankOne is required by law to provide a written explanation to any customer they turn down for credit.
Have they done so in this case?<<
Bank One -- like many credit card issuers -- complies with that law by doing the absolute bare minimum, which is to put in a single line in the decline form letter, which in essence is very generic code for why one was declined.
In my case, the ENTIRE explanation they provided was four -- yes, four -- words: "utilization of bankcard credit." Given my very high credit score, history of current payments, low balances. etc., it wasn't clear at all what that brief generic blurb was supposed to mean (not using credit enough? having too much? too little?)
So on 3/26 -- almost four weeks ago -- I wrote them asking for a more substantive, detailed explanation of why I was declined (as is my right under the law).
As of today, they have still not responded.
So, as I type this, the other document I have up on word right now is a formal complaint letter to the FTC about Bank One.
Like I said earlier, this is FAR from over.
Have they done so in this case?<<
Bank One -- like many credit card issuers -- complies with that law by doing the absolute bare minimum, which is to put in a single line in the decline form letter, which in essence is very generic code for why one was declined.
In my case, the ENTIRE explanation they provided was four -- yes, four -- words: "utilization of bankcard credit." Given my very high credit score, history of current payments, low balances. etc., it wasn't clear at all what that brief generic blurb was supposed to mean (not using credit enough? having too much? too little?)
So on 3/26 -- almost four weeks ago -- I wrote them asking for a more substantive, detailed explanation of why I was declined (as is my right under the law).
As of today, they have still not responded.
So, as I type this, the other document I have up on word right now is a formal complaint letter to the FTC about Bank One.
Like I said earlier, this is FAR from over.
Dean
DIS Veteran<br><a href="http://www.wdwinfo.com/dis
- Joined
- Aug 19, 1999
I don't know that there's any difference. Since my paperwork says "guide to Visa Platinum Benefits", I just assume they were all Platinum and my is red just like the application looks and what's been described on the BBS.
ftwildernessguy
<font color=green>I have a linen closet at home fu
- Joined
- Mar 16, 2003
God, I hope he gets the card soon so he can get on with his life!
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