The Disney Visa NIGHTMARE

[KNWVIKING]

"The Disney "Rewards Program" --which is ONLY available to those holding the Bank One VISA card -- is THE replacment for the Disney Club when it closes at the end of this year. Disney has no plans to start up any other membership program that offers regular ongoing discounts."

Where have you read an official release from Disney stating this. There have been announcements that the DC is ending. There obviously have been info on the Visa card. But I have never seen a Disney release stating the new rewards card is the replacement for the DC. Disney has also stated there will be more discounts coming to the Visa card. If the Visa is the replacement, MAYBE they will give the card many of the DC benifits. I guess I'm not ready to trash Disney on this issue yet because nothing is for certain and I have yet to lose any of the benifits the DC offers plus I am earning reward dollars.

 

[mikeymars]

>>But I have never seen a Disney release stating the new rewards card is the replacement for the DC.<<

Disney isn't going to be that simplistically blunt, but they haven't been able to cover up the industry grapevine. The quote below from a story about the closing of the Disney Club (from the laughingplace.com, the best source of information on what's really going on inside Disney) tells the story.

In particular, please note the use of the word "replace" in their report below. Not "add to," or "in addition," or "as another option," but replace.

"In a cryptic note to current club members, Disney says that it will continue to bring new ways to connect to the Disney magic and will inform members as "exciting new opportunities develop."
According to an article in the Orlando Sentinel, Disney says that it plans to replace the Disney Club with a "co-branded" Disney/Visa credit cardin which cardholders will be able to earn points (presumably by charging up a fortune) for discounts on Disney vacations and merchandise."

 

[DisneyKidds]

Disney has also stated there will be more discounts coming to the Visa card. If the Visa is the replacement, MAYBE they will give the card many of the DC benifits. I guess I'm not ready to trash Disney on this issue yet because nothing is for certain and I have yet to lose any of the benifits the DC offers plus I am earning reward dollars.

It seems you might be missing the point Mr. Viking. It won't make it any better if they provide more discounts via the Visa card. It won't make it any better if they give the Visa card many of the DC benefits. In fact, that would make things worse from my standpoint. As it stands now the same DC discounts available now will no longer be available come January first. If the same exact discounts are offered thru the Visa card it is a slap in the face that says you must let Disney dictate your credit relationships if you want to be considered one of their most loyal and respected guests. That is a joke.

Here is how I see it. First off, while DC was readily available to everyone and anyone who was willing to spend the $39, the Visa card is NOT available to everyone and anyone who chooses to apply for the card. Secondly, getting the 'no fee' Visa card isn't going to save those who qualify the DC membership fee they used to pay. I have worked long and hard to establish my standing with the credit cards I currently hold. That relationship has resulted in lower interest rates than the Disney Visa is offering. If I carry a balance, the Disney Visa interest above what I'd pay on one of my other cards would certainly be more than $39 a year. Thirdly, applying to the DC in the past was very innocuous. Apply, pay your $39, and feel even more connected to the Magic. With the Visa it isn't so simple. As I have stated before, I won't trade out a lower rate card I currently hold for the opportunity to maybe "earn" an annual pass a year IF I spend well well over $30,000 a year on the Disney card. I am not about to hold another credit card I don't intend to use on the off chance they offer some discounts that aren't related to the amount of money charged to the card. Having unused credit cards with no balance still affects your credit rating. Banks look at your potential credit as well as the balances you currently have. As such, I won't get this card..........and that removes me just one step from the Magic and puts me one step further away from the 'club' of Disney fans I used to be a part of.

DC - available to Everyone, only costs you $39, and connects you to the Magic.

Visa - NOT available to everyone, potentially costs you more than $39 in increased interest if you carry a balance, keeps many people from having that connection to the Magic.

I don't see how the Visa can be viewed as a good thing.

As for the Visa not being a replacement for the DC, I don't see that it isn't. Sure, Disney hasn't kicked your teeth in with an official statement. However, too many news sources have reported that "Disney said.............". Sure, they could be wrong. However, if Disney had any other plans for another "club" or "frequent, loyal guest program" I am sure they would have made that known by now. It isn't like such a program is so innovative and difficult to implement that they wouldn't have had another option in place to replace the DC by this time. Hopefully backlash against the DC ending will make them reconsider new options once the club officially ends later this year.

 

[PatriciaH]

I think Disney should bring back the Magic Kingdom Club. I loved those discounts! It was FREE for people who's businesses carried it too.

 

[ghostwriter]

Still waiting for alll the great offers. I have had the card for a month and have not received and information on benefits or specail offers. So whats going on.

 

[KNWVIKING]

I'll concede that DC was availible to anyone willing to pay the fee.

However, a lot of the sour grapes concerning the new Visa are from people whose credit will not allow them to get the card. This is not Disney's problem. Others,like yourself possibly, won't accept the higher interest rate. I have several cards,couldn't tell you what a single interest rate is because I never carry a balance, I won't pay a dime in interest. For those who use a card with a lower rate and carry a balance, then my opinion is that your yearly interest payments are probably far greater then any DC discounts you currantly receive, but that's your choice and none of my business. With all the various discount options out there besides DC- AAA,AP's,DVC, maybe others- how valueable are DC discounts anyway ? I'm a DC member basically for the AP discount which offsets the DC fee. If I put only $4000.00 on my Visa, then I'm $40.00 ahead of the game. Based on posts that compared the original MKC to DC, are we really losing that much ?

 

[DisneyKidds]

This is not Disney's problem.

Oh, but it very much is. It may not be Disney's fault they don't qualify, but Disney has still shut them out by only giving them an option that requires credit aproval.

With all the various discount options out there besides DC- AAA,AP's,DVC, maybe others- how valueable are DC discounts anyway ?

There are two substantial discounts you can't get anywhere else. AP discounts, and 10% off at the Disney Store. Those are really the only discounts we use, and even the Visa card isn't replacing those. As far as AP's are concerned, it has always been a no brainer for us to get them. However, considering a lot of factors, I am thinking long and hard about whether we will renew in November. As for the Disney Store discount, we'll probably still shop there, but the discount did make us partial to spending just a wee bit more in the past. So, possibly no AP's and less spent at the Disney Store - is that the result Disney was looking for?

 

[KNWVIKING]

The DVC membership also offers the 10% off at the Dis stores, but I'm not advocating a DVC purchase, only pointing out that it's availible. And as I've stated earlier, maybe with the expiration of DC, more discounts will be turned over to the Visa. Disney has said more discounts will be coming.

In this day and age, CC's are more or less a neccasary evil,(try renting a car without one). Since I'm going to have them anyway I'm going to pick the ones that will work best for me. Since I go to WDW 3-5 times a year and am a DVC member, the Dis Visa is a greater value to me then the DC.

ghostwriter: Have you set up on-line account access at the Visa website ? There are currantly a handful of offers listed. May not be compareable to DC, but it is at least a start for those Visa holders who aren't also DC members.

 

[mikeymars]

>>a lot of the sour grapes concerning the new Visa are from people whose credit will not allow them to get the card.<<

I strongy, strongly disagree with the above.

First, many of those who have been turned down (including myself) have -- by normal criteria -- good credit. Both Fair Issac and Experian give me scores that put me will within the top 5% of American households.

The problem is Bank One is less interested in whether the VISA applicants have "good" credit and more interested in whether their proprietary 30 point scoring model predicts the applicant will be will be profitable.

Second -- and more importantly -- most of the "complaints" about the card here have to do with strategy behind the card, not whether on not someone got it.

The "bottom line" is the focus of the VISA card program: Or stated differently, it shows Disney now values the quick buck over the loyalty of long-term customers.

The anger you see here (so-called "sour grapes") is a reaction to that, specifically, the attempt by Disney to change the criteria that determine who the most valuable customers are.

How important your are to Disney now has NOTHING to do with whether you are a long term Disney Vacation Club member (as I am), whether you vist their properties often (as I do), whether you regularly visit their stores and purchase their merchandise (as I do). Instead, it is now based solely upon whether you have a high enough score of the proprietary credit card profitability review model used by a B- quality bank. And unless one meets that cut, they no longer receive preffered offers and treatment.

And if you think the noise level the long term loyalists are making about that is bad now, just wait.

 

[KNWVIKING]

"The problem is Bank One is less interested in whether the VISA applicants have "good" credit and more interested in whether their proprietary 30 point scoring model predicts the applicant will be will be profitable. "

Based on your criteria, Bank 1 would have turned me down flat. I have not paid a dime in interest in 10 years or more. The bottom line is that I never would have heard of mikeymars had you not been turned down. You certainly weren't taking the high ground in protest against the Visa and end of DC by applying for it, as others have.

 

[Maistre Gracey]

Originally posted by KNWVIKING
"The problem is Bank One is less interested in whether the VISA applicants have "good" credit and more interested in whether their proprietary 30 point scoring model predicts the applicant will be will be profitable. "

Based on your criteria, Bank 1 would have turned me down flat. I have not paid a dime in interest in 10 years or more....

Same here. I have about five credit cards. I use two or three regularly, and the others hardly at all. All have high credit limits, and none have annual fees. The only time they are not paid in full, is during promotional 0.0% terms (I only take advantage when there is zero transaction fee).
In other words, outside of the merchant fee to the CC company, the CC company likely looses $ on me.
I received my Bank One/Disney Visa about 10 days after applying.

 

[Golter]

I assure you that if you were turned down, you do not have spotless, perfect credit. The idea that bank one issues a card to those who will not use it responsibly is absurd. If you have managed your credit well, you will not have a problem getting a card. Pay your bills ontime and live within your means and you will not have any problems.

On a different note:
I bet I have the best use of my card so far......my wife's breast augmentation surgery scheduled for Wednesday was was put on it. I recieved bonus from my work, will pay off bill when I get it. My wife will look great and I earned reward points..HA HA.

 

[Maistre Gracey]

Originally posted by Golter
...I bet I have the best use of my card so far......my wife's breast augmentation surgery scheduled for Wednesday was was put on it. I recieved bonus from my work, will pay off bill when I get it. My wife will look great and I earned reward points..HA HA.

You deserve a golf clap, Golter.....

 

[KNWVIKING]

People are always posting trip pic's on this board, how about........

 

[Golter]

that's a good one.

I'm almost certain moderator would not allow pics, but nice try.

 

[mikeymars]

>>Based on your criteria, Bank 1 would have turned me down flat. I have not paid a dime in interest in 10 years or more.<<

Your presume carrying ongoing balances is the only criteria or primary for profitability.

It isn't - level of card use is also a major one, given the profits that come from merchant fees. Perhaps that's why I'm seeing some people on these boards who got turned down who all seemed to state or imply "I don't use my existing cards that much." Again, the Bank One model is proprietary, so I don't have every field and measurement attribute at my fingertips, but from what I'm hearing from knowledgable peers in the industry, it does put a good amount of weight into a history of regular card use.

Bottom line, short of seeing their formula, all we know is the Bank One voodoo for approval seems highly variable and is less tied to the financial quality of the applicant than other God-knows-what variables.

>>outside of the merchant fee to the CC company, the CC company likely looses $ on me<<

I think you're missing a critical point here, per my first paragraph. If you use some of your cards (which you said you did), trust me, you're profitable - the fixed carrying costs of an account are minimal; almost any regular use results in pure profit to the issuer.

>>The bottom line is that I never would have heard of mikeymars had you not been turned down.<<

Yes, but you're doing the "diminish 'em away as sour grapes" thing again by implying my sole "problem" was being turned down. That's unfair, anyone who has been paying attention here knows my concerns had to do with the manner in which I was treated during that tangent of the card implementation.

>>You certainly weren't taking the high ground in protest against the Visa and end of DC by applying for it, as others have.<<

I think what you meant to say here was "by not applying for it." If that's the case, I again disagree - taking a position as a "valuable customer" (one who is willing to write Disney Senior Management and get an immediate, personal response in which [/I] they agree to change policy)[/I] is strengthened based on having more product and service relationships, not fewer.

 

[KNWVIKING]

>>You certainly weren't taking the high ground in protest against the Visa and end of DC by applying for it, as others have.<<

No,I think it's phrased right. You would be taking the high road by NOT applying. I'm saying you weren't taking it BY applying.

Whatever,grammer has never been a Dis Board requirement.

My point was that if Bank 1 had approved you,no letters would have been written and this thread would never have been posted. Based on posts on earlier threads from people who have been turned down for various reason- which you have refered to in this thread- why did you wait till you were rejected to start the campaign ?

 

[DisneyKidds]

The DVC membership also offers the 10% off at the Dis stores

Thanks Vike.......now all I need is a way to get discounted AP's once DC is kaput and the pain won't be so bad. Eliminating DC and replacing it with the Visa is still a bad move IMHO.

 

[ftwildernessguy]

I can't believe that mikeymars has generated this much discussion over this matter. Come on now, do you really expect us to believe that you would have taken issue with Bank One over a technicality in the letter if you had been accepted in the first place?

 

[Maistre Gracey]

Originally posted by ftwildernessguy
I can't believe that mikeymars has generated this much discussion over this matter. Come on now, do you really expect us to believe that you would have taken issue with Bank One over a technicality in the letter if you had been accepted in the first place?

Not sure about anyone else, but I am monitoring this thread in the hope that we get back to the more important discussion of breast augmentation....