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Disney Visa Warning!! Please read!!
To all those who have the Disney Visa if you have not yet you should be receiving a letter which states the APR will be going up to 24.99%. The only way to stop this increase is to close your account. They offer 2 choices take the increase or close the account! WOW!! This increase applies to balance transfers, new charges and charges already on your account. The letter does not look like much and if you are not careful could throw it away without even realizing. If you pay it off each month then no problem but please everyone take a moment to call and verify before you get hit with this huge increase. They are not being picky either it applies to everyone with good or bad credit!! This is because of the change to happen in March when the credit card companies will not be allowed to do this but for now they can. Just wanted to give a heads up for everyone as we all need our pennies these days and a super high interest rate does not help!!! Happy Turkey Day all!!!
Deb
2012 Jan ALSM
2011 July POFQ
2010 July POR
2009-Oct 3 days POFQ
2009-June POFQ
2008-Aug OKW
2007-June WL
2007-Jan POFQ
2006-July Polynesian
2005-June OKW
2004-July BCV
2004-Jan off site
2003-July FWC
2003-Dec/Jan CS
2002-June OKW
2000-July POFQ
1999-July OKW
1998-July OKW
Have a Disney Day!!!
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Interesting...I got my notice and my rate is staying the same - Prime + 13.99% (currently 17.24%)
Way too high for this economy, but....
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that is interesting as they told me it was for everyone...hmmm...I may have to call again.
Deb
2012 Jan ALSM
2011 July POFQ
2010 July POR
2009-Oct 3 days POFQ
2009-June POFQ
2008-Aug OKW
2007-June WL
2007-Jan POFQ
2006-July Polynesian
2005-June OKW
2004-July BCV
2004-Jan off site
2003-July FWC
2003-Dec/Jan CS
2002-June OKW
2000-July POFQ
1999-July OKW
1998-July OKW
Have a Disney Day!!!
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They are not being picky either it applies to everyone with good or bad credit!! This is because of the change to happen in March when the credit card companies will not be allowed to do this but for now they can. Just wanted to give a heads up for everyone as we all need our pennies these days and a super high interest rate does not help!!!
Are you certain this will apply to all cardholders? We recently received notification that our APR was being increased - and it was - from around 10% to 13.24%. Haven't seen anything about a mandatory 24.99% APR - although I'll certainly keep an eye out for anything from Chase!
Carol (aka KylesMom)
INTERCOT Staff: Mousellaneous & Trip Reports
Last Trip: ICOT 15
Happy A/P Holder 2002 - 2011
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We didn't get a huge increase. I think everyone will have to watch all credit cards for changes in the interest rate. I think everyone is going to pay for the people not paying their credit card bills and the credit card companies have to make up for it somehow. We pay our bill in full every month otherwise what's the point of 1% back if you're paying it out in interest.
23 times since 1993 and still counting
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We got the notice about the big increase. And we have always paid our bill in full and never incurred a penny of interest. They are clearly trying to make up for losses elsewhere. Keep paying it off and there will be no difference. Mark
30+ trips; DCV owner at Beach Club Villas; 4 Disney cruises; 2 trips to Disneyland
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I just received this as well but mine is now prime plus 8.99 for a current interest rate of 12.24%. My other Chase card went up to almost 20% and they would not budge on that when we called. They said it was an across the board increase due to the economic climate .....or some baloney like that.
Kelly
4/98 Offsite
11/03 Make a Wish Trip
8/05, 4/07, 4/08, 4/09, 4/11, 4/12, 4/13, 4.14
Sheraton Vistana Resort
11/07 Hilton Grand Vacations Sea World
Next Trip: 04/15 Sheraton Vistana
Give the Gift of Life; Be an Organ Donor!!
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I paid exactly zero point zero in interest to Chase last year, and I intend on doing the same next year. If the interest rate was 50% it wouldn't really matter to me.
Now, if they start pulling benefis or charging for the card, then that's something I would stand up and take notice about.
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I have not received any notice yet. Just wondering, did it come with your bill or separately?
Sandy G.
First Vacation Trip-DXL, August, 2000
Last Trip-Yacht Club December 2017
Next Up-The Swan December 2018
Many In Between
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I paid exactly zero point zero in interest to Chase last year, and I intend on doing the same next year. If the interest rate was 50% it wouldn't really matter to me.
Now, if they start pulling benefits or charging for the card, then that's something I would stand up and take notice about.
Although we handle our Chase Disney card in the exact same manner, if an emergency were to come up & we needed to carry a balance for a month I certainly wouldn't want to worry about a card in my wallet that was charging me 24.99%.
Interestingly enough, our other Chase Visa card that we've carried since 1991 continues to carry a 9.24% APR.
As far as when we received notification of the increase for the Chase Disney Visa, it was somewhere in late June for an effectivity date of August 1st. It was a tri-fold brochure that was not in an envelope.
Carol (aka KylesMom)
INTERCOT Staff: Mousellaneous & Trip Reports
Last Trip: ICOT 15
Happy A/P Holder 2002 - 2011
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It's best to carry other cards in case of an emergency. I can't think of one rewards type card that is "worth" using to carry a balance.
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I haven't gotten a letter of any sort from Chase. I guess I'll just keep looking for one. ????????
At least 14 trips before 1988
Off-site - 3-92
Off-site - 2-01
ASM - 5-02, 7-03
CBR - 11-05, 2-10
Off-site - 2-06
Pop - 6-06, 2-08
Poly -12-07
Cor. S. - 6-2010
Cor.S. - 10-11
"A Dream is a Wish Your Heart Makes"
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Hmm...well, my DH just received a pre approval notice for a Disney Visa with a $200 Disney Gift card reward after the first purchase, AND a 13.24% FIXED APR. We are considering applying JUST for the $200 GC, since we will be going to WDW in the spring. We have other cards with better APRs for emergencies. Even if the APR of the Disney card were to be increased, I'd still be happy we got the free $200...since we'd never carry a balance on there anyway!
Natalie
INTERCOT Staff: Disneyland Resort-California, The Water Cooler
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Originally Posted by BrerGnat
Hmm...well, my DH just received a pre approval notice for a Disney Visa with a $200 Disney Gift card reward after the first purchase, AND a 13.24% FIXED APR. We are considering applying JUST for the $200 GC, since we will be going to WDW in the spring. We have other cards with better APRs for emergencies. Even if the APR of the Disney card were to be increased, I'd still be happy we got the free $200...since we'd never carry a balance on there anyway!
You can pay for 6 months interest free for your Disney vacation using the Disney Visa to pay for your package.
23 times since 1993 and still counting
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Yeah, I got it. My balance is higher than it should be so I have it coming. That's the risk you take with these cards. The Disney benefits far outweigh it for me, as it's my primary card and my incidentals end up free half the time for me. I just plan on budgeting a little more to pay it off and avoid too much of a hike.
Walt Disney World:
93, PO FQ
94-95, Caribbean
96, Off Site
99, Coronado
00, Caribbean
03, Poly & Wilderness Lodge
04, Pop Cent
06, Contemp
07, Beach Club
07, Pop Cent
09, Pop Cent
10, Off Site
11, PO FQ
12, Coronado
13, Off Site
14, PO FQ
16, PO RS
Only 1110.89 miles...
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My current rate is 9.24%. I typically carry a $0 balance. This is the first time I will carry a balance for about 3 months. The deal I got will far outweigh the interest occurred until I get my tax return in mid-February.
1 Week at Wyndham Bonnet Creek 06/17/17 - 06/24/17; 1 Week at Orange Lake Resort 06/24/17 - 06/30/17; 1 week at OKW 12/03/17 - 12/10/17
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We haven't received any notice. Our APR is currently 13.24% but we pay 0.00% since we pay off the credit card every month. They can raise the rate but it won't make much a difference to us as long as we can pay it off each month without paying interest. Now, if that changes I will probably stop using it.
Steve (aka brownie)
INTERCOT Staff: Accommodations & Mousellaneous
ASMv 4/00, 10/01, 11/03, 5/21
ASMu 8/12, 11-12/22
AKL 6/18
BC 9/94
CSR 8/14, 3-4/22
POP 11-12/10, 3/12, 10/12, 7/17, 4/22
POFQ 10/01
POR 9/04, 1/16, 11/19
WL 12/03
Disneyland 6/07, 1/15
Disney Dream 8/14
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