VISA rewards...your opinion

[Shells9]

I was sitting here this morning, trying to think of ways I could better utilize the Disney VISA rewards, as I am not really a big credit card user. Then, something dawned on me.

What if I use it as a "filter" for my mortgage payment? As it is now, the mortgage payment just comes automatically out of one account. If I have the mortgage go to the VISA, and then pay the VISA from that account, I will get the reward dollars, which for me will be about 9 additoinal reward dollars each month. Not real significant, but it's something, right? Does anyone know if you can do direct debit for the VISA payments?

Is anyone else doing anything similar?

 

[Carole]

My mortgage company will not accept credit card payments....

 

[Shells9]

Gosh, I didn't check with mine, I just figured they would want the money any way they could get it!

Wonder about car payments? I just double-checked the Disney Visa website, and I could make the payment on line using an e-check, so my accounts wouldn't get messed up....I will have to check with my mortgage company.

 

[BethR]

Hi shells!

I use my Disney VISA for all of my everyday expenses. I just subtract them from my checkbook as if I were writing a check - that way you know that you have the money to pay the bill.

I use it to pay for all of the bills that I can. Unfortunately, I cannot use it to pay my mortgage or car payment. That would be great if I could.

 

[dcfromva]

Originally posted by Shells9
Gosh, I didn't check with mine, I just figured they would want the money any way they could get it!

Wonder about car payments? I just double-checked the Disney Visa website, and I could make the payment on line using an e-check, so my accounts wouldn't get messed up....I will have to check with my mortgage company.

Be careful with the e-check. This could be classified as a cash advance. I believe there is a % transaction fee and the interest is charged immediately.
With only getting 1% back on the rewards, this would definately not be worth it if you are hit with the fees and interest.

-DC

 

[SAWYERMAW1]

Has anyone noticed that most reward cards offer 5% rewards versus Disney's 1% reward?? Wouldn't you be better off to go with American Express? You can use their rewards towards Disney hoppers, etc.

 

[jordgubben]

The first thing I thought of when I got the disney visa was, "Awesome, now I'll get rewards dollars just for paying my bills!"

Unfortunately you apparently can't pay a line of credit with a line of credit which means that I can't get points for paying things like car and school loans. I am able to put my cell phone bill on it though! I'm going to look into utilities once we get our own place in September though I don't have my hopes up.

I also had the thought of using the convience checks. As someone mentioned about there is like a 3% fee for using them which alone would negate the point but also you don't get points for changes from convience checks.

Anyway, we have started using our disney card for all of our expenses and they have added up. We put all the gas, EZPass, groceries, everything we used to use Visa Check card for on the disney card. Not only do we get points but it's pretty much a one glance way to track out monthly spending.

 

[mad4themouse]

Originally posted by SAWYERMAW1
Has anyone noticed that most reward cards offer 5% rewards versus Disney's 1% reward?? Wouldn't you be better off to go with American Express? You can use their rewards towards Disney hoppers, etc.

Most rewards credit cards offer 1%-2% back. AmEx gives up to 5% back but only if you carry a balance from month to month. The interest charged on that balance would negate the benefits of receiving 5% back.

If you're looking for a rewards credit card, look for one that has no annual fee and reasonable fees. Many of them will charge higher interest rates, steep late fees and other high fees for over-limit charges, etc. If you're not good with credit, don't even try it.

As far as the Disney VISA is concerned, I got it for the cardholder benefits (like resort codes and discounts on Broadway musicals). We did charge our upcoming cruise on it b/c of the onboard ship credit they were offering and the 6 months of 0% interest on the balance. However, my Chase i-card gives me 1% back in Webcertificates every month. Those webbies can be used anywhere that takes Mastercard. I prefer the flexibility of that and I use it more than I use the Disney VISA.

Even if your mortgage company will not accept your VISA for payment, there are plenty of other places. I charge my gasoline, groceries, dentist, doctor, newspaper delivery, heating oil, lawn service and just about any other routine expense to the card. At the end of the month, I have just one payment to make when I used to write checks for a dozen things. And I'm getting cash back to boot! If you check around, I'm sure that you'll find there are many bills that you routinely pay every month that you could easily place on your rewards credit card.

 

[MickeyMass]

My bank said they could do it but it would be like a cash advance,
but just using it for every day purchases and for the trip I was able to get 100 dollars and 6 mths deferred at 0 percent on trip .
It also took only one week to get them after I orderedthem online.

 

[cindala]

I've started charging things that I would normally pay cash for, like grocery shopping, gas, dinners out, etc. I tried to pay our real estate taxes with the card, but the town won't accept it. (Too bad, that would have been $8000, or $80 in Reward $!!)

I'm going to see if I can pay my car insurance and life insurance with it though. These are two other big ticket items that would be about $10,000 or $100 reward $!!! (I bet they won't allow it.)

DD just had two wisdom teeth removed, charged that too! The key is to keep track of what you spend and pay it back. I keep a separate envelope that I put the money into to put in the checking to pay it.

Still, I think that 1% stinks! I hope they offer more insentives for double $$'s.

 

[WDWorBUST]

I can pay my car insurance with my disney card - I use AllState. I also use it for everyday stuff as much as possible. I will have about $80 for my trip next month.....and our next trip won't be for 2 years....I'm hoping to build up enough to pay a large chunk of that trip's food budget at least - or maybe one of our passes.

 

[SalandJeff]

I am really disappointed with the card. When I first heard they were doing away with the Disney Club and coming out with the credit card, I thought it would be great. But as others have stated, you're only getting 1%, no points accumulated for balance transfers, and I have not seen any discounts that are of much value.

Yes, you can charge everything to try to accumulate points, but you have to be really disciplined to make sure you put away the money to pay the bill. My mortgage company will not take CC payments either. I am making out better by using my Delta AMEX to earn frequent flier miles.

I have another visa through bank one that I've had for years, and I earn 1% on this also. Every time I have 2500 points, they send me a check for $25.

Just my 2 cents.

 

[Shells9]

but you have to be really disciplined to make sure you put away the money to pay the bill

Yeah, that was kinda my fear, lol! I used to be very undisciplined. (I was young!) I have been working on my discipline for several years and have my credit way up to par now, and cannot stand to carry a balance, so one slip and I would be done. I do continue to be very impulsive, though .

Thanks everyone for your suggestions. I think I will look into some of the regular bills at least, like the cell phone and stuff, and I never thought about the car insurance -- that's a great one!