What's up with new Disney credit cards?

[Sir Aaron]

Originally Posted by bubster

Really? I'm not questioning your truthfulness but when I called the other day I was told that that offer expired on the 10th. Did you have a coded offer or did you do it on-line? Awesome deal!! Wish I had decided to get it when it was first offered.

Did you try logging into your account online? You might see the offer there. Before I upgraded one account, I had an opportunity to upgrade via my online access.

[disneystitch626]

Originally Posted by Sir Aaron

He's not so good at math.

My MS in Engineering would disagree with you.

[disneystitch626]

Originally Posted by Ccarroll1100

So you don't believe paying a $49 fee for $300 or more reward dollars is worth it? How do you figure? In my books that's a win for me and makes no financial sense to not do this. I actually use the Capital one Venture and get 2% on everything I purchase. I also have all my bills paid through this card. I actually got an $1100 reward last year. At 1% I would have only got $550.

That is great until they revoke the 2% reward. Sounds like they already have. And what about the years when you do not charge enough to cover the $49 annual fee? This is kinda like the same methodology people use to 'justify' buying a hybrid vehicle because tehy think they are saving a ton of money on annual fuel charges.

[SuzanneSLO]

Originally Posted by disneystitch626

That is great until they revoke the 2% reward. Sounds like they already have. And what about the years when you do not charge enough to cover the $49 annual fee? This is kinda like the same methodology people use to 'justify' buying a hybrid vehicle because tehy think they are saving a ton of money on annual fuel charges.

Not sure what you mean by them already revoking the 2% reward?

But as to the remainder of your post, it is pretty simple to convert a credit card to one without a fee just by making a phone call. Either you downgrade the card, get the fee waived, or cancel. For fee waivers, I am usually given a few hoops to jump through (I think I needed to make 5 charges in 3 months to have the annual fee waived on the last one on which is called) and then no issue until the fee comes around the next time.

Just because the credit card companies are hoping that its customers will continue to pay the fee in the future when they get no economic benefit from doing so does not mean its customers will do so.

Another poster said they had earned $1500 so far after upgrading, which is $1200 more than they woudl have earned without upgrading. Even if they forget and pay the fee for a few years even though they are not charging on the card, it wil take a while (more than 24 years) for the credit card company to break even at $49 per year. -- Suzanne

[SuzanneSLO]

Originally Posted by Maximus

I was thinking about upgrading to this. I hope the offer has not expired. I will have to call later today and ask. We are renovating a kitchen and bathroom this summer $$$$$$$

Just wanted to make sure you knew that the 5% earning was only on gas, groceries, restaurants and Disney. While you can purchase gift cards for Home Depot and Lowes at most grocery stores, this may not be the best way to pay for a planned remodel. You may be better off with another card that provides a signup bonus based on minimum $$$ spent. -- Suzanne

[lovindisney]

Originally Posted by SuzanneSLO

Just wanted to make sure you knew that the 5% earning was only on gas, groceries, restaurants and Disney. While you can purchase gift cards for Home Depot and Lowes at most grocery stores, this may not be the best way to pay for a planned remodel. You may be better off with another card that provides a signup bonus based on minimum $$$ spent. -- Suzanne

Not sure where Maximus lives but if there is a Giant Eagle buy the gift cards there. You can get the promo discount (grocery store) and the 10-20 cents per gallon fuel perks! It's a win-win!

[Ccarroll1100]

Originally Posted by disneystitch626

That is great until they revoke the 2% reward. Sounds like they already have. And what about the years when you do not charge enough to cover the $49 annual fee? This is kinda like the same methodology people use to 'justify' buying a hybrid vehicle because tehy think they are saving a ton of money on annual fuel charges.

If you don't charge enough to cover the $49 fee you should not have a reward card at all. That's only $2,500 of charges to cover the fee.

[lovindisney]

Originally Posted by disneystitch626

That is great until they revoke the 2% reward. Sounds like they already have. And what about the years when you do not charge enough to cover the $49 annual fee? This is kinda like the same methodology people use to 'justify' buying a hybrid vehicle because tehy think they are saving a ton of money on annual fuel charges.

They haven't revoked the 2%. The 2% is the upgraded card, so why would they charge you the $49 fee to get 2% and then "revoke" it?

It seems that you don't care to use a credit card, which is fine. To each their own. However, if there is a tangible benefit from using a CC, and you pay it off every month, then it is that individual's decision whether to use one or not. IMHO!

[bubster]

Originally Posted by Ccarroll1100

If you don't charge enough to cover the $49 fee you should not have a reward card at all. That's only $2,500 of charges to cover the fee.

We tend to use our Disney Visa for pretty much everything, especially groceries, gas, restaurants and Disney. Plus everything else in between. We usually have $2,500 in charges every month. We do pay it off in full monthly, so what's the harm? I had enough in rewards this last year to nearly pay for 2 APs w/DVC discount. I resisted upgrading at first because of the annual fee. Then realized I'm actually LOSING money by not upgrading.

I'm sure there are better rewards cards out there but we DO Disney so it's a perfect fit for us. We can change back at any time if we don't want to pay the fee.

[lovindisney]

Originally Posted by bubster

We tend to use our Disney Visa for pretty much everything, especially groceries, gas, restaurants and Disney. Plus everything else in between. We usually have $2,500 in charges every month. We do pay it off in full monthly, so what's the harm? I had enough in rewards this last year to nearly pay for 2 APs w/DVC discount. I resisted upgrading at first because of the annual fee. Then realized I'm actually LOSING money by not upgrading.

I'm sure there are better rewards cards out there but we DO Disney so it's a perfect fit for us. We can change back at any time if we don't want to pay the fee.