Disney Visa Card--are the perks worth it?

[2Rebecca]

I'm planning a trip to WDW in the fall and am debating on whether I should get a Disney Visa Card (or the Disney Premier Card). It has been 20 yrs since I've been to Disney, so I'm not sure what a "Disney Character Experience" really is or if it is worth taking time away from other things to do. Does anyone have one of the Disney Visa Cards? Are the card member & star wars perks worth attending? What about the 10% dining discount? Do you have to use the VISA card to receive them, or do you get the same discount if you use the redemption card they give you when you cash out points?

It appears I can get better cash back offers with other chase cards where the cash back can be used for anything and not just Disney related. I'll be making a few large purchases in the upcoming weeks, so if I'm going to get a new card, I need to apply for it now, so I can get points whether it be on a Disney Visa or a different card. I'd love to hear your thoughts on the Disney card.

BTW, I always pay my balance off each month, so I'm not worried about interest rates. I also have a non-DVC timeshare, so the 0% for 6-month financing isn't something I would take advantage of because we will be staying offsite.

 

[rococomouse]

I'm planning a trip to WDW in the fall and am debating on whether I should get a Disney Visa Card (or the Disney Premier Card). It has been 20 yrs since I've been to Disney, so I'm not sure what a "Disney Character Experience" really is or if it is worth taking time away from other things to do. Does anyone have one of the Disney Visa Cards? Are the card member & star wars perks worth attending? .

The meet and greets offered by the Disney Visa card are actually quite nice. At the Star Wars m&g at HS, there was no line to meet Kylo Ren, like no one even knew it existed! Same goes for the one in Epcot; we met Minnie and Pluto the first day and the second day met Mickey and Goofy; all without waiting in any lines!

 

[LAKid53]

Made me immediately think, "Cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice"

Except that debt is good debt...until Congress kills the mortgage interest deduction. Or you really can't afford to own a home...and I'm not talking about just the mortgage.

 

[LAKid53]

Awesome!

I am not a strict Ramsey follower.. but I take a big portion of why he says and apply it where it should be. I don't agree with him on everything.. I do not think car leasing is a stupid choice..but I do think leasing a phone/contact plan is incredibly stupid. Smaller scale, but the amount of people who fall for that kind of needless "debt" is overwhelming.

I'd kind of say the same about the Disney Vacation Account.. I first learned about it last year, originally it sounded like a good idea..but I figured out that my own money can make more without letting Disney hold on to it.
I do have a "Christmas account" at a bank. It earns a decent amount of interest during the year, and is a nice way for me to never see the money but reap a few rewards come November. it's really all mind games though.lol

Leasing a car is a good option if you're the kind of person who purchases a car every 2-3 years.

 

[LAKid53]

I love car leasing..so he would never approve of me.lol. Really, you have to use his stuff as a guide and do what works best for you. If you keep your cards down to one or two..only use them for points and pay every month..then it's actually very smart (imo). His major flaw is that you still need to build credit some way, if you pay cash for everything then one day it will bite you if you need credit..car, house, any kind of installment loan. But I don't have books, seminars, and millions of followers.. so maybe we are doing it wrong

He is right about credit. The problem is most people are incapable of managing it. I have a rewards card that gives me 1.5% back. All my monthly payments that can be charged to a card are charged to this one, automatically. I just dump the total amount of those payments in my share account, plus a little extra, at the beginning of the month, and then pay the bill in full. When the cash back reaches several hundred dollars, I use it as a statement credit. All my cards are paid in full each month, they're all rewards cards, and other than my Citi Costco Visa and Disney Visa, the rewards are applied to the monthly balance due. My only debt is my mortgage and home equity. Yeah, I'm not the kind of card holder credit card issuers like.....

 

[DizArielFan]

He is right about credit. The problem is most people are incapable of managing it. I have a rewards card that gives me 1.5% back. All my monthly payments that can be charged to a card are charged to this one, automatically. I just dump the total amount of those payments in my share account, plus a little extra, at the beginning of the month, and then pay the bill in full. When the cash back reaches several hundred dollars, I use it as a statement credit. All my cards are paid in full each month, they're all rewards cards, and other than my Citi Costco Visa and Disney Visa, the rewards are applied to the monthly balance due. My only debt is my mortgage and home equity. Yeah, I'm not the kind of card holder credit card issuers like.....

I love my credit cards, which are cash back cards. I would never be a debit card only person, since it can cause issues if renting a car etc.

 

[Patcheslee]

I love my credit cards, which are cash back cards. I would never be a debit card only person, since it can cause issues if renting a car etc.

There are major rental companies that accept debit cards, Budget who we are going through does a $100 hold on your card if the rental is prepaid so not too bad. Never been a credit card person so we got the Disney debit. Only thing missing is the SW meet & greet, and points which take way too long to accumulate personally.

 

[Bandini]

I have a B of A cash back credit card, but I never carry a balance. The great thing about this card is if I deposit the $100 cash reward into my B of A checking account it's increased to $125. I use this credit card to pay for everything.

I agree, that Dave Ramsey's credit card advice is directed to people who can't seem to manage their money. But I have learned a lot from his books. I refinanced my home when the interest rates dropped, because it saved enough to justify the all of the fees.

I really wish financial planning was part of our public schools' core curriculum. No matter what, everyone has to learn about budgets and managing money.

 

[DizArielFan]

There are major rental companies that accept debit cards, Budget who we are going through does a $100 hold on your card if the rental is prepaid so not too bad. Never been a credit card person so we got the Disney debit. Only thing missing is the SW meet & greet, and points which take way too long to accumulate personally.

Yep, rental car companies are better with debit cards than they were a few years ago, but it's still a bit risky, especially from local rental offices, the ones away from the airport counter.

 

[DizArielFan]

I have a B of A cash back credit card, but I never carry a balance. The great thing about this card is if I deposit the $100 cash reward into my B of A checking account it's increased to $125. I use this credit card to pay for everything.

I agree, that Dave Ramsey's credit card advice is directed to people who can't seem to manage their money. But I have learned a lot from his books. I refinanced my home when the interest rates dropped, because it saved enough to justify the all of the fees.

I really wish financial planning was part of our public schools' core curriculum. No matter what, everyone has to learn about budgets and managing money.

This 100%, Financial education is very threadbare in this country, young people are just forced to enter the workforce with poor knowledge of how to manage their finances.

 

[LAKid53]

I have a B of A cash back credit card, but I never carry a balance. The great thing about this card is if I deposit the $100 cash reward into my B of A checking account it's increased to $125. I use this credit card to pay for everything.

I agree, that Dave Ramsey's credit card advice is directed to people who can't seem to manage their money. But I have learned a lot from his books. I refinanced my home when the interest rates dropped, because it saved enough to justify the all of the fees.

I really wish financial planning was part of our public schools' core curriculum. No matter what, everyone has to learn about budgets and managing money.

As someone with a degree in Finance, I'm in agreement about teaching personal finance in public schools....something more than the "how to write a check" I got in 9th grade. Basic concepts of interest, difference between APR and EAR and how to calculate EAR. Time value of money. Compounding interest rates. Depreciation and appreciation. How financial markets work. Budgeting. Credit - when it's good to borrow and when it's bad. Investing. HOW TO AND WHY YOU SHOULD BALANCE YOUR DRAFT ACCOUNT MONTHLY!!!!! I.E., don't play the float ..checks clear with 48 hours.

I cannot tell you the garbage I've gotten from college students. "When I wrote that $1200 check for the Geology field trip, I had the money in my account". Yes, really got that in response to my, "you've bounced that check, we're charging you $____ in fees...oh, and we want a money order or cashiers check, plus fees, within X number of days or we will turn the check over for collection".

Start in middle school. By the time they graduate from high school, they should be able to manage their money...and recognize those instances "when it's too good to be true, it usually is".

 

[LAKid53]

I have a B of A cash back credit card, but I never carry a balance. The great thing about this card is if I deposit the $100 cash reward into my B of A checking account it's increased to $125. I use this credit card to pay for everything.

I agree, that Dave Ramsey's credit card advice is directed to people who can't seem to manage their money. But I have learned a lot from his books. I refinanced my home when the interest rates dropped, because it saved enough to justify the all of the fees.

I really wish financial planning was part of our public schools' core curriculum. No matter what, everyone has to learn about budgets and managing money.

That's good, but just remember refinancing isn't usually recommended if you're not going to remain in your home another 5 years.

 

[Patcheslee]

As someone with a degree in Finance, I'm in agreement about teaching personal finance in public schools....something more than the "how to write a check" I got in 9th grade. Basic concepts of interest, difference between APR and EAR and how to calculate EAR. Time value of money. Compounding interest rates. Depreciation and appreciation. How financial markets work. Budgeting. Credit - when it's good to borrow and when it's bad. Investing. HOW TO AND WHY YOU SHOULD BALANCE YOUR DRAFT ACCOUNT MONTHLY!!!!! I.E., don't play the float ..checks clear with 48 hours.

I cannot tell you the garbage I've gotten from college students. "When I wrote that $1200 check for the Geology field trip, I had the money in my account". Yes, really got that in response to my, "you've bounced that check, we're charging you $____ in fees...oh, and we want a money order or cashiers check, plus fees, within X number of days or we will turn the check over for collection".

Start in middle school. By the time they graduate from high school, they should be able to manage their money...and recognize those instances "when it's too good to be true, it usually is".

This is the extent of what we got in high school. While we are at it can someone please make it illegal for parents to use their minors SSN to open accounts and utilities?

 

[LAKid53]

This is the extent of what we got in high school. While we are at it can someone please make it illegal for parents to use their minors SSN to open accounts and utilities?

Uh, it is illegal...called identity theft.

What REALLY needs to happen is the law about the use of SS numbers be inforced. SS numbers are for the reporting of income only. But try getting any form if credit when you tell a company this.....

ETA: How can a parent use their child's SS number to open accounts? The Patriots Act requires proof of identity to open bank accounts. Unless they are for the essentials of life, contracts entered into by minors can be voided before reaching majority (which is why you co-sign that loan for your 16 year olds car loan).

 

[LAKid53]

This is the extent of what we got in high school. While we are at it can someone please make it illegal for parents to use their minors SSN to open accounts and utilities?

They teach all of this in high school? Most students I interacted with were very financially illiterate...

 

[Bandini]

That's good, but just remember refinancing isn't usually recommended if you're not going to remain in your home another 5 years.

Oh, I agree. I'll have it paid off in 5 years. The idea of owning my home outright is emotionally satisfying for me.

 

[Bandini]

As someone with a degree in Finance, I'm in agreement about teaching personal finance in public schools....something more than the "how to write a check" I got in 9th grade. Basic concepts of interest, difference between APR and EAR and how to calculate EAR. Time value of money. Compounding interest rates. Depreciation and appreciation. How financial markets work. Budgeting. Credit - when it's good to borrow and when it's bad. Investing. HOW TO AND WHY YOU SHOULD BALANCE YOUR DRAFT ACCOUNT MONTHLY!!!!! I.E., don't play the float ..checks clear with 48 hours.

I cannot tell you the garbage I've gotten from college students. "When I wrote that $1200 check for the Geology field trip, I had the money in my account". Yes, really got that in response to my, "you've bounced that check, we're charging you $____ in fees...oh, and we want a money order or cashiers check, plus fees, within X number of days or we will turn the check over for collection".

Start in middle school. By the time they graduate from high school, they should be able to manage their money...and recognize those instances "when it's too good to be true, it usually is".

This is one of the biggest problems in our school system, regardless of your income whether you are a plumber or a famous athlete, you need to understand finance. It's become even more important since company pension plans have been replaced by 401K's and Roth IRA's.

 

[LAKid53]

Oh, I agree. I'll have it paid off in 5 years. The idea of owning my home outright is emotionally satisfying for me.

The 5 year time frame isn't related to paying off the mortgage, but recouping the points, fees and closing costs related to the refinance. And if it's been long enough, title insurance.

 

[Bandini]

The 5 year time frame isn't related to paying off the mortgage, but recouping the points, fees and closing costs related to the refinance. And if it's been long enough, title insurance.

The re-finance was about 10 years ago. So , it's all good.

 

[LAKid53]

This is one of the biggest problems in our school system, regardless of your income whether you are a plumber or a famous athlete, you need to understand finance. It's become even more important since company pension plans have been replaced by 401K's and Roth IRA's.

You'll need more than a basic understanding of finance if you want to fully understand the investments that make up the portfolio of assets that fund your 401k. Small, medium, large cap stocks. Emerging markets. Treasuries. Corporate paper. Bonds. Annuities ( don't ever!). Front loaded. Back end.

And risk. Forgot that. Understand that investments with high returns are riskier. Long term riskier than short term. How to balance a portfolio between growth and income and how that should change over time.

 

[LAKid53]

The re-finance was about 10 years ago. So , it's all good.

Oh, I thought it was recent. I worked with someone who refinanced every couple of years. Mainly to pull out equity as their home value appreciated and interest rates dropped. Then 2008 happened.

Another thing to teach. YOUR HOME IS NOT A BANK ACCOUNT! But after 2008, most financial institutions have gone back to the days before the bubble, thank god.