Disney Visa card -- have you saved with it?

[lilclerk]

So we used the rewards dollars to buy our daughter's 8 day pass for the trip,then we used the rest of it for our dining.

Totally OT, but I can't believe your daughter is old enough to need a ticket. I remember when you guys were postponing a trip because you were planning on another baby. I don't think I've ever spent this much time on a message board, haha.

 

[sbkline]

Totally OT, but I can't believe your daughter is old enough to need a ticket. I remember when you guys were postponing a trip because you were planning on another baby. I don't think I've ever spent this much time on a message board, haha.

Ya, she just turned 4 last Saturday. So when we went in April, she was still 3, and it was her 2nd trip, and her first time needing park admission. Time flies don't it!

 

[tare]

We use it for special discounts. But the points don't add up even close to the points/miles we get on our capital one card.

 

[jkl2000]

I see that to get the 10% discount in Disney stores and online, it has to be a $50 minimum purchase.

 

[reptar77]

I love ours. I use it to pay for everything. I even tried my mortgage but that didn't fly. The disney reward points really add up. I have not had to pay for food or merchandise in years.

 

[Goofyernmost]

The best deal with the Chase Disney visa is the sign on bonus of $100 statement credit after spending $500. That's 20%. The next is the 6 months no finance on Disney Vacation Packages. Otherwise the card is pretty weak on rewards. You can get more than 1% cash on a lot of other cards. Cash that you can use at Disney and other places.

The big catch to that is if you have anything on that card other then your Disney trip it doesn't work. Whatever you pay on the balance will go off the Disney Balance first. Then you are going to be paying finance charges on the parts that are not Disney related and will continue to do so until you pay off the Disney portion, so in affect you do indeed pay interest charges for as long as you have a balance after the first payment and something other then qualifying charges are present. In order to take advantage of the no interest is 1. pay off the entire Disney portion on the first billing (1 month not 6) or 2. Pay the entire thing off on the first payment or 3. don't have anything else on the card that doesn't have an Disney address for charges. That you can just let sit there for the 6 months with no interest. Also, be sure that the balance is paid before the 6 months with sufficient time so that nothing can get credited after the date otherwise you will be charged the entire interest for the 6 months. One of the Banks little ways to keep the bankers very well paid.

I have one of the Disney Visa Cards and I use it exclusively for onsite purchases. Anything that you spend anyplace other then onsite will not qualify for the finance forgiveness. Like I said, even buying a candy bar offsite will switch the whole thing over to plan B and if you don't pay it all immediately the finance charge will come charging back. In other words, if you have a balance of say, $1000.00 before you charge your Disney Vacation. When you attempt to pay on the 1K it will bypass that balance and only reduce your Disney "free of interest" balance, leaving that high cost charges there to continue to collect finance fees until all of the Disney charges are paid off.

It was my stupidity the first time. I interpreted it to mean what I spent on a Disney Vacation regardless of where. Example... If you spend 2K for airfare to Disney, it is not part of the no interest deal unless you buy the airline tickets via Disney, usually at a much higher rate. Don't put independent airfare on the Disney Card. Yea, I should have known better, but I didn't think about it that way.

 

[badrew]

I bought last years Annual Pass, 100% with my Disney Rewards Dollars, and am on track to do the same this year. I just pay for things that I have already saved money for in my budget account. You also get 6 months interest free financing on Disney trips. I have been very happy with my card. I like the card designs you can get as well.

 

[badrew]

The big catch to that is if you have anything on that card other then your Disney trip it doesn't work. Whatever you pay on the balance will go off the Disney Balance first. Then you are going to be paying finance charges on the parts that are not Disney related and will continue to do so until you pay off the Disney portion, so in affect you do indeed pay interest charges for as long as you have a balance after the first payment and something other then qualifying charges are present. In order to take advantage of the no interest is 1. pay off the entire Disney portion on the first billing (1 month not 6) or 2. Pay the entire thing off on the first payment or 3. don't have anything else on the card that doesn't have an Disney address for charges. That you can just let sit there for the 6 months with no interest. Also, be sure that the balance is paid before the 6 months with sufficient time so that nothing can get credited after the date otherwise you will be charged the entire interest for the 6 months. One of the Banks little ways to keep the bankers very well paid.

I have one of the Disney Visa Cards and I use it exclusively for onsite purchases. Anything that you spend anyplace other then onsite will not qualify for the finance forgiveness. Like I said, even buying a candy bar offsite will switch the whole thing over to plan B and if you don't pay it all immediately the finance charge will come charging back. In other words, if you have a balance of say, $1000.00 before you charge your Disney Vacation. When you attempt to pay on the 1K it will bypass that balance and only reduce your Disney "free of interest" balance, leaving that high cost charges there to continue to collect finance fees until all of the Disney charges are paid off.

It was my stupidity the first time. I interpreted it to mean what I spent on a Disney Vacation regardless of where. Example... If you spend 2K for airfare to Disney, it is not part of the no interest deal unless you buy the airline tickets via Disney, usually at a much higher rate. Don't put independent airfare on the Disney Card. Yea, I should have known better, but I didn't think about it that way.

Interesting... I'll have to watch my next statement then, I just called them last week to see how this works and the woman told me that the minimum payment each month goes towards the "free financing" balances, then anything over that goes against finance charged balances.

 

[sxeensweet]

The big catch to that is if you have anything on that card other then your Disney trip it doesn't work. Whatever you pay on the balance will go off the Disney Balance first. Then you are going to be paying finance charges on the parts that are not Disney related and will continue to do so until you pay off the Disney portion, so in affect you do indeed pay interest charges for as long as you have a balance after the first payment and something other then qualifying charges are present. In order to take advantage of the no interest is 1. pay off the entire Disney portion on the first billing (1 month not 6) or 2. Pay the entire thing off on the first payment or 3. don't have anything else on the card that doesn't have an Disney address for charges. That you can just let sit there for the 6 months with no interest. Also, be sure that the balance is paid before the 6 months with sufficient time so that nothing can get credited after the date otherwise you will be charged the entire interest for the 6 months. One of the Banks little ways to keep the bankers very well paid.

I have one of the Disney Visa Cards and I use it exclusively for onsite purchases. Anything that you spend anyplace other then onsite will not qualify for the finance forgiveness. Like I said, even buying a candy bar offsite will switch the whole thing over to plan B and if you don't pay it all immediately the finance charge will come charging back. In other words, if you have a balance of say, $1000.00 before you charge your Disney Vacation. When you attempt to pay on the 1K it will bypass that balance and only reduce your Disney "free of interest" balance, leaving that high cost charges there to continue to collect finance fees until all of the Disney charges are paid off.

It was my stupidity the first time. I interpreted it to mean what I spent on a Disney Vacation regardless of where. Example... If you spend 2K for airfare to Disney, it is not part of the no interest deal unless you buy the airline tickets via Disney, usually at a much higher rate. Don't put independent airfare on the Disney Card. Yea, I should have known better, but I didn't think about it that way.

Sorry to correct you but that is not correct! Look up the new credit card laws that went into effect around 2008. Highest Interest balances are applied first if you pay over the minimum and your lowest interest Is paid last!!! It was the opposite before those laws went into effect to protect consumers around 2008. We usually have other stuff on our card and it pays all of that off before it starts going towards our 0% for the vacations but you HAVE to pay more than the minimum for it to pay on the higher interest items first. Just wanted to clear this up so no one got the wrong info from your post.

 

[sxeensweet]

Interesting... I'll have to watch my next statement then, I just called them last week to see how this works and the woman told me that the minimum payment each month goes towards the "free financing" balances, then anything over that goes against finance charged balances.

Yes you are correct I also corrected the above poster that said otherwise. The new laws that went Into effect around 2008 or 2009 stopped credit cards from ripping people off anymore by always paying off your low interest balances first. Now like you said as long as you pay over the minimum that amount goes towards the higher Interest charges. They told you the correct info on the phone so do not worry.

 

[flynnibus]

The big catch to that is if you have anything on that card other then your Disney trip it doesn't work. Whatever you pay on the balance will go off the Disney Balance first. Then you are going to be paying finance charges on the parts that are not Disney related and will continue to do so until you pay off the Disney portion, so in affect you do indeed pay interest charges for as long as you have a balance after the first payment and something other then qualifying charges are present

Hrmm.. this seems off. Carrying a interest-free balance should not impact your new charges. Now where I can see your point is when you are carrying balances of different categories.. which gets paid off first.

But if you are carrying a balance, and you rack up say.. $1000 in new charges. If you pay $1000.. that will goto pay off your new charges and also satisfy the minimum payment.

The only way I can see your scenario playing out for someone is if you are carrying the different balances and trying to control which gets paid off first. The solution is... don't carry balances except the promotional ones

 

[Goofyernmost]

Interesting... I'll have to watch my next statement then, I just called them last week to see how this works and the woman told me that the minimum payment each month goes towards the "free financing" balances, then anything over that goes against finance charged balances.

Sorry to correct you but that is not correct! Look up the new credit card laws that went into effect around 2008. Highest Interest balances are applied first if you pay over the minimum and your lowest interest Is paid last!!! It was the opposite before those laws went into effect to protect consumers around 2008. We usually have other stuff on our card and it pays all of that off before it starts going towards our 0% for the vacations but you HAVE to pay more than the minimum for it to pay on the higher interest items first. Just wanted to clear this up so no one got the wrong info from your post.

Hrmm.. this seems off. Carrying a interest-free balance should not impact your new charges. Now where I can see your point is when you are carrying balances of different categories.. which gets paid off first.

But if you are carrying a balance, and you rack up say.. $1000 in new charges. If you pay $1000.. that will goto pay off your new charges and also satisfy the minimum payment.

The only way I can see your scenario playing out for someone is if you are carrying the different balances and trying to control which gets paid off first. The solution is... don't carry balances except the promotional ones

OK, so obviously you folks are more up to date with the laws. I apologize, I was basing that statement on when I got caught up in it and it was before the law change. I haven't used it for much of anything since then, just enough to keep the account open. I'm glad that they passed a law changing that. Apparently it was pretty wide spread. It soured me from using it for anything other then Disney charges and my current Platinum Card gives me one to 5 percent on everything I buy, so that is my card of choice. Since I always pay off the card each month, it no longer is an issue. Again, I'm am sorry about the incorrect information. Just shows to go ya...ya can't know everything no matter how much ya think ya do! So in the immortal words of Gilda Radner..."Nevermind"!

 

[Goofyernmost]

But if you are carrying a balance, and you rack up say.. $1000 in new charges. If you pay $1000.. that will goto pay off your new charges and also satisfy the minimum payment.

That is exactly the scenario that I got caught up in. I had a previous balance, I paid that amount and they credited my payment to the Disney balance and not the previous one. Hence continued finance charges on the old balance. I had a lovely chat with the Bank in question, but to absolutely no good result. Quote..."We are always going to attempt to clear off the no interest part before the interest bearing part. It's just good business". Timing is everything I guess.

 

[sxeensweet]

OK, so obviously you folks are more up to date with the laws. I apologize, I was basing that statement on when I got caught up in it and it was before the law change. I haven't used it for much of anything since then, just enough to keep the account open. I'm glad that they passed a law changing that. Apparently it was pretty wide spread. I soured me from using it for anything other then Disney charges and my current Platinum Card gives me one to 5 percent on everything I buy, so that is my card of choice. Since I always pay off the card each month, it no longer is an issue. Again, I'm am sorry about the incorrect information. Just shows to go ya...ya can't know everything no matter how much ya think ya do! So in the immortal words of Gilda Radner..."Nevermind"!

Your forgiven! No harm done! Lol It happens to all of us on here! lol On the bright side now you know if for some reason you carry a balance on a card with a promotion of lower interest or no interest that you can pay the higher interest off first if you pay over the minimum. You learn something new everyday!

 

[sxeensweet]

That is exactly the scenario that I got caught up in. I had a previous balance, I paid that amount and they credited my payment to the Disney balance and not the previous one. Hence continued finance charges on the old balance. I had a lovely chat with the Bank in question, but to absolutely no good result. Quote..."We are always going to attempt to clear off the no interest part before the interest bearing part. It's just good business". Timing is everything I guess.

Note our posts after that if you didn't read them already lol ...good news they cannot do that anymore on ANY credit cards as of 2008 or 2009 by the newer credit laws that passed. No more ripping people off at least in that way anymore! Lol

 

[wendysue]

We're pretty much a thrifty family, believing in saving for things instead of buying and paying with credit. That said, we have an Amex and a Visa for booking trips. Would it be worth it to get a Disney Visa if we're planning yearly vacations? Do any of you have one and have you really saved money by getting one?

I suppose I could save if I would stop booking Disney vacations with it.......