Disney Debit/Credit card question

[disneygirl76]

Hi all,

I just saw that there is a Disney Debit card. However, there are no branches in my state (I live in VA) or in DC (where my DH works) so we can't get one.

I will not deny we are repairing our credit. But we have been able to get credit cards recently. However, when we tried a while ago for a Disney Visa, we were denied. Is there any magic trick or something they specifically look for in order to get approved?

I asked the customer service rep if we were more likely to get approved if we had a checking/savings with them and he said no, that it is based on credit report alone.

Any thoughts/suggestions?

Thanks!

 

[ddbowdoin]

credit rating alone... sorry, that is the harsh realistic answer.

 

[disneygirl76]

credit rating alone... sorry, that is the harsh realistic answer.

Any idea what "number" they are looking for?

 

[Spikerdink]

Unfortunately, you will have to rebuild your credit to get the Disney Visa. One thing to avoid is applying for many cards over a period of time - this is a flag and also lowers your credit score.

I had to rebuild my credit a long time ago (and am going to have to soon if I don't find a good paying full time job...) and one of the things I learned is that if you try for credit cards it is a detriment to your score.

If you have some cards, keep the balances low (another bad thing is to be close to the limit) and pay more than the minimum and never, ever be late. (sign up for the card's minimum payment feature so you will be guaranteed of at least paying that).

Good luck - I have been in your shoes. (and they look absolutely stunning on me!)

 

[experiment624]

Hi all,

I just saw that there is a Disney Debit card. However, there are no branches in my state (I live in VA) or in DC (where my DH works) so we can't get one.

I will not deny we are repairing our credit. But we have been able to get credit cards recently. However, when we tried a while ago for a Disney Visa, we were denied. Is there any magic trick or something they specifically look for in order to get approved?

I asked the customer service rep if we were more likely to get approved if we had a checking/savings with them and he said no, that it is based on credit report alone.

Any thoughts/suggestions?

Thanks!

Are you referring to the Disney Chase Credit Card? I helped my youngest sister apply for one a few years ago, it was her first credit card and she had zero credit. They gave her a higher limit than expected. However, that was before all of the major bank/credit changes.

 

[ddbowdoin]

let's put it this way... I can't crack a sub 10% APR and my credit score is 791

I would say you'd have a tough time with anything sub 600

 

[disneygirl76]

Thanks! We have credit cards now - each have 3 and they all have 0 balances. We got hit during our life in Michigan. It was very sad. I think we are just waiting for things to "fall off" the credit report at this point and hopefully that will make things happen.

 

[ddbowdoin]

Unfortunately, you will have to rebuild your credit to get the Disney Visa. One thing to avoid is applying for many cards over a period of time - this is a flag and also lowers your credit score.

I had to rebuild my credit a long time ago (and am going to have to soon if I don't find a good paying full time job...) and one of the things I learned is that if you try for credit cards it is a detriment to your score.

If you have some cards, keep the balances low (another bad thing is to be close to the limit) and pay more than the minimum and never, ever be late. (sign up for the card's minimum payment feature so you will be guaranteed of at least paying that).

Good luck - I have been in your shoes. (and they look absolutely stunning on me!)

number of cards doesn't matter per se, I have 10 credit cards between store account cards, traditional credit cards, and personal business cards

I am trying to crack 800 for the first time.

Also, you can be late under 30 days... nothing is reported to credit agencies before the 30 day mark.

 

[disneygirl76]

Are you referring to the Disney Chase Credit Card? I helped my youngest sister apply for one a few years ago, it was her first credit card and she had zero credit. They gave her a higher limit than expected. However, that was before all of the major bank/credit changes.

Yes, that is the one I am referring to.

 

[muteki]

I wasn't able to get just any card right out of school, because I basically had no credit. Looking back, I wish I would have taken up one of the offers countless people had to give cards to students to build up my credit so I could have had an easier time once I left school.

What I did was just get the most basic card I could, and use it for a year or two just making small purchases and paying it off on the spot. After that, I could get anything I applied for, including a Disney Visa.

 

[disneygirl76]

Thanks! I guess i will just have to wait patiently for the bad years to fall off.

 

[ddbowdoin]

honestly... looking at the "benefits" of this card, it pretty much sucks so I wouldn't lose sleep over it

 

[sgtmgd]

Thanks! We have credit cards now - each have 3 and they all have 0 balances. We got hit during our life in Michigan. It was very sad. I think we are just waiting for things to "fall off" the credit report at this point and hopefully that will make things happen.

Suggestion
Pull your credit reports and go over them...often times there are errors on most reports...also if each of you have 3 cards that's 6 between you...propably not helpful ...you need to speak to a financial advisor.. major credit cards are a must but you need a decent limit...also the length of time you have the cards are important as part of your score is based on average time credit cards are open..also your debt to available credit needs to ne around 30% no more..there are ways to remove some items on your report but then again speak to a financial advisor...they can tell what you need to do

 

[Spikerdink]

number of cards doesn't matter per se, I have 10 credit cards between store account cards, traditional credit cards, and personal business card

What I meant to say is that if there is a large number of APPLICATIONS for credit on your report it will lower your score. If you have a few cards (or ten!), that doesn't impact as much as if suddenly you have many applications for credit popping up. As it was explained by a guest speaker in one of my classes, it sends out a signal that you may be heading to overextending yourself.... Sorry if I wasn't clear....

 

[ddbowdoin]

Suggestion
Pull your credit reports and go over them...often times there are errors on most reports...also if each of you have 3 cards that's 6 between you...propably not helpful ...you need to speak to a financial advisor.. major credit cards are a must but you need a decent limit...also the length of time you have the cards are important as part of your score is based on average time credit cards are open..also your debt to available credit needs to ne around 30% no more..there are ways to remove some items on your report but then again speak to a financial advisor...they can tell what you need to do

Not true... it is the consistency of payments over a period of time and your debt/income ratio.

I have 10 cards total, with an available credit totaling almost 50 grand and my score is 791.

 

[sgtmgd]

Not true... it is the consistency of payments over a period of time and your debt/income ratio.

I have 10 cards total, with an available credit totaling almost 50 grand and my score is 791.

Not true because your score is over 700..remember the Target audience ...any financial advisor will tell you while rebuilding its better to have no more than 3 and they should be major cards...not lowest or Target...rules are different pending where you are credit wise

 

[FettFan]

Solution: Cut all credit cards.

 

[disneygirl76]

Suggestion
Pull your credit reports and go over them...often times there are errors on most reports...also if each of you have 3 cards that's 6 between you...propably not helpful ...you need to speak to a financial advisor.. major credit cards are a must but you need a decent limit...also the length of time you have the cards are important as part of your score is based on average time credit cards are open..also your debt to available credit needs to ne around 30% no more..there are ways to remove some items on your report but then again speak to a financial advisor...they can tell what you need to do

I did that once - I found an error - they had me married to my mother!

 

[sgtmgd]

Fatal mistake credit wise ....common mistake...don't cut them all up...you need a sustained credit history or your credit score will be very low...you also need to keep a credit card in good standing for years...Rome wasn't built in q day..also your credit to debt ratio needs to be in the 30% range...

 

[Britt]

Thanks! We have credit cards now - each have 3 and they all have 0 balances. We got hit during our life in Michigan. It was very sad. I think we are just waiting for things to "fall off" the credit report at this point and hopefully that will make things happen.

Make sure to get the "pay off" letter/confirmation for anything you pay off. Always make sure to get those, then submit it to the place you're getting your credit info : ) Sometimes mistakes happen and things dont "fall off", even after paid!
Good luck : )