New Chase Disney Rewards Debit Card!

[sxeensweet]

Went to the bank yesterday and saw Chase now has a new debit rewards card like there Disney Rewards Credit Card. I do not know the details of how it works yet but I plan on inquiring being that would be an extra way to earn even more rewards dollars. Just thought yall would be happy to know this like me!! Lol.

 

[Maryssa*]

It's $25 for the year and you accumulate points every time you use the card WITHOUT punching in your PIN. So online stuff, choosing the credit option instead of debit at a store, etc. The points accumulate reeeeeeeeeeally slowly though.

I still need to find out if I can add this in addition to my platinum debit features or if it would totally replace it.

 

[dreamfinder]

It's $25 for the year and you accumulate points every time you use the card WITHOUT punching in your PIN. So online stuff, choosing the credit option instead of debit at a store, etc. The points accumulate reeeeeeeeeeally slowly though.

I still need to find out if I can add this in addition to my platinum debit features or if it would totally replace it.

So you are basically paying them to use the credit feature? Instead of just getting a credit card?

 

[fosse76]

It's $25 for the year and you accumulate points every time you use the card WITHOUT punching in your PIN. So online stuff, choosing the credit option instead of debit at a store, etc. The points accumulate reeeeeeeeeeally slowly though.

I still need to find out if I can add this in addition to my platinum debit features or if it would totally replace it.

I looked at that quite a few months ago and decided that it wasn't worth it. Not only do the points accummulate slowly, but you have to pay an annual fee...which in my case would either equal the points I earn or be more than what I can earn (so I'd be spending $25 to earn 25 points or less, since I think you get a point for every $200...which wouldn't be any type of benefit at all).

 

[DisneyLeo18]

If it's anything like the Leisure Rewards card, you receive 4 points for every dollar you spend. The points still take a while to accumulate, but I saved mine and bought a few gift cards and gifts with them for xmas this year. :xmas:

 

[Goofnut1980]

Actually this card is great... Using it as "credit" to pay for things... meaning no pin base transactions.. you earn $1 Disney Dollar for every $200 you spend... It actually adds up very quickly.. in two months I have earned $18.00... Then you call a number and get a disney rewards card that allows you to use it at a disney store or WDW or DL... It can even be used for your trip to help pay for it... The $25 to sign up is given back to you with your first qualifing purchase as Disney Dollars... so why not get rewarded for just buying regular items... :sohappy:

 

[fosse76]

Actually this card is great... Using it as "credit" to pay for things... meaning no pin base transactions.. you earn $1 Disney Dollar for every $200 you spend... It actually adds up very quickly.. in two months I have earned $18.00... Then you call a number and get a disney rewards card that allows you to use it at a disney store or WDW or DL... It can even be used for your trip to help pay for it... The $25 to sign up is given back to you with your first qualifing purchase as Disney Dollars... so why not get rewarded for just buying regular items... :sohappy:

The Disney Visa has no annual fee, and earns 1 point for $100. As long as you don't carry a balance or incur any penalties, the points are essentially free money.

The debit card has an annual fee. If you earn 100 points in a year, then you've really only earned $75. The fee for the first year may be waived, but in subsequent years it's costing you $25, which you could have spent anywhere, even Disney. And since you have to use the debit card like a credit card for the purchase to qualify, I don't see the point.

 

[Tom]

We have both the Disney Visa and the Disney Debit Card. We almost solely use the Debit Card now.

Sure, the CC gets 1% instead of .5%, but we've tried to stop using the CC to help the 'ol credit score. Also, we want to avoid the upcoming outrageous interest rates that CC companies are starting to slap on. Besides, using Debit instead of Credit saves another step (i.e. money comes out right now, and no CC bill to pay).

The $25 is waived the first year, once you make a few qualifying purchases. We have already hit the $25 cash-back level anyway, in just a few months. We use it to pay any bills that accept credit card, which REALLY adds up quickly.

We like it. We're confident that we'll hit our $25 fee early in 2010 and rack up some easy spending money for our 2011 trip.

 

[AUPr8Hd]

The reason the bank wants customers to run the card as a "credit" transaction, as opposed to a "debit," is that the bank earns a fee with each transaction. The income they generate from credit transactions is greater than debit transactions.

There is no difference to the client. All of the money still comes from the same account.

 

[Mr. Tickle]

They are essentially charging you $25 a year to spend your own money, while they also generate profit for every purchase you make. It's a win win situation for Chase. At a .05% return you'd have to spend $5000 of your money just to break even with the fee. There are better deals out there. My bank gives me 1% cash back if I use the credit option & there's no fee.

 

[Tom]

They are essentially charging you $25 a year to spend your own money, while they also generate profit for every purchase you make. It's a win win situation for Chase. At a .05% return you'd have to spend $5000 of your money just to break even with the fee. There are better deals out there. My bank gives me 1% cash back if I use the credit option & there's no fee.

It's .5%. Half percent. You only have to spend $500 to break even. If you pay bills with it, you get there pretty quick. We pay our $150/mo cable/internet bill with it each month and that pretty much covers our fee quickly, and we never have to use our CC. We love it.

 

[Mr. Tickle]

.5 is much better than .05, but why not use the CC and pay nothing? :shrug:

 

[Tom]

.5 is much better than .05, but why not use the CC and pay nothing? :shrug:

Because we're trying to get rid of lines of credit, and bills. Debit is just so much easier.

 

[Lord Pheonix]

i had commerce bank for 8 years, it was great. then they switched to td bank and suddenly i was getting charged 50 bucks for being overdrawn by 1 doller, they were waiting 2 weeks to credit purchases to the account, driving the fees up to $1500. i went to chase and got this card. being im on the road as a truck driver, i should accumulate the disney dollers quickly since im always using it for mcdonalds, coffees, truck washes, cat scale tickets, etc. at the very least it will pay for my parking the next time i go, lol.

 

[SlusherGusher]

It's .5%. Half percent. You only have to spend $500 to break even. If you pay bills with it, you get there pretty quick. We pay our $150/mo cable/internet bill with it each month and that pretty much covers our fee quickly, and we never have to use our CC. We love it.

I believe half a percent is .005%, so it would take $5000 in spending to break even. For example, if I want to figure out sales tax in my state, which is 7%, I multiply the price by .07, that would make 1% = .01 and a half percent = .005.

 

[Lord Pheonix]

actually thats wrong. anything left of a decimal point is a whole, i.e. 1 is 1.0 or 1.00., one and a half is 1.5 or 1.50. when i figure hours on a log book, if i drove 4 hours, 25 minutes, its numeral representation is 4.25, Easiest way to remember it is think about money, 4 quarters equals 1 dollor, , .25 x 4 = 1. 3 numbers or more after the decimal point represents fractions of the percent, i.e. 1.125 would be approx one and a half of a half, or something like that, so edwardtc is correct

 

[Disney05]

We just traded in our other Chase reward card for this. We chose to use our points, which was a lot, from the other card for gift cards and magazine subscriptions. We got rid of our credit cards years ago. Everything comes out of our checking. We don't have to worry about our credit or going into cc debt. We pay for everything with this card. We did rack up points very fast so far. We'll see how many points we get to use for our next Disney trip at the end of next year. If it's not worth it, we'll change.

 

[rtiller]

I've looked into the debit version of the Disney card before. After reading about it I decided to stay with our Disney credit card instead. I think those that have expressed reasons for the debit card are good reasons (no cc debt, no bill to pay, etc.). I do have to mention that there is an option thought website with the Disney credit card though that allows the statement balance to be withdrawn from a checking account each month on the due date.

I use the auto pay option so I only receive the c.c. bill in the mail and don't have to worry about paying it, just put the amount to be paid in Quicken and the date it will be paid.

For some this still doesn't make the cc a good option but I wanted to mention it for those that might not have known and find a benefit from it.

 

[WDWFigment]

I got a call about this card a couple of months ago. Knowing that debit cards never offer as good of rewards as better credit cards, I didn't even bother listening to the details before declining. The bottom line is that this card is only a decent deal for someone with terrible credit who can't get a credit card with better rewards.

We have both the Disney Visa and the Disney Debit Card. We almost solely use the Debit Card now.

Sure, the CC gets 1% instead of .5%, but we've tried to stop using the CC to help the 'ol credit score. Also, we want to avoid the upcoming outrageous interest rates that CC companies are starting to slap on. Besides, using Debit instead of Credit saves another step (i.e. money comes out right now, and no CC bill to pay).

The $25 is waived the first year, once you make a few qualifying purchases. We have already hit the $25 cash-back level anyway, in just a few months. We use it to pay any bills that accept credit card, which REALLY adds up quickly.

We like it. We're confident that we'll hit our $25 fee early in 2010 and rack up some easy spending money for our 2011 trip.

Credit cards are actually better for your credit score. Assuming you're using the cards the same way (paying off your balance in full each month), the credit card has the definite advantage. In that case, the fee increases are irrelevant.

We have the Disney Visa and rarely use it now since the rewards are paltry. Basically, we keep it for when we receive a nice 5x offer, and for the minor perks at the parks.

Right now, there are a couple of credit cards I'm considering with annual fees; most credit cards with annual fees offer much better rewards than those without. Just make sure your annual credit card usage is high enough to justify them in advance (do the math).

 

[Lord Pheonix]

The bottom line is that this card is only a decent deal for someone with terrible credit who can't get a credit card with better rewards.

ohh, that hurt. basically what ur saying is that this card and all debit cards like it are reserved only for the lowest form of working class people who are to poor to either establish credit or pay back their owed debt. and that you are part of the privilaged high class part of the public who own several houses, drive bently's, own a private jet, and whos home is bigger then the white house.

although im just kidding with you, that comment could be interpreted as sorta condescending, but i never heard of a checking account that dont come with a debit card. i didnt go looking for this perticular card, i went for a new checking account, the card came with it. it has nothing to do with my credit, which i have in good standing.

i would never have a credit card. why would i want to buy something and pay more for it then the price on the pricetag? cc interest rates are retarded. 22%, 25%, 17%, ??? i understand they have to make money somehow, and charge you for using their name with the card, but i think a more reasonable rate is 5%, or less.