Another Visa Quetion

[Urbss]

How accurate are they at knowing what should be 2% points for the groceries, fuel and restaurant purchases on the new Preferred Disney Visa Card?

For instance, we eat at a place called Rick & Nic's and would think that should be a 2% purchase, but how does Visa know this is a restaurant? With a name like that it could be a bait shop or something.

Or the gas I sometimes get at the local convenience store. How do they know it is a fuel purchase and I'm not buying cartons of cigarettes or magazines or something?

Anybody have any thoughts?

Thanks,
Tom

[BrerGnat]

Merchants are responsible for "categorizing" themselves.

For instance, a Target store could be categorized as "retail-merchandise" or "grocery". Just depends on what the store owner/manager decides is the appropriate category for the majority of the things it sells.

The card company has NO say in what a merchant categorizes itself as.

[gardenia]

I was bummed when I discovered that most restaurants at Disney are not categorized as "Restaurants", they're categorized as "Theme Park", and therefore ineligible for a double-points-on-restaurants promotion. So you can't always assume what the category is.

[brownie]

Originally Posted by gardenia

I was bummed when I discovered that most restaurants at Disney are not categorized as "Restaurants", they're categorized as "Theme Park", and therefore ineligible for a double-points-on-restaurants promotion. So you can't always assume what the category is.

Disney locations that are solely owned and operated by Disney are eligible for the 1% bonus in addition to restaurants, grocery stores, and gas stations. If it's considered a Disney location (based on the above definition), it won't matter how it's categorized, you'll get the extra 1%.

[gardenia]

Originally Posted by brownie

Disney locations that are solely owned and operated by Disney are eligible for the 1% bonus in addition to restaurants, grocery stores, and gas stations. If it's considered a Disney location (based on the above definition), it won't matter how it's categorized, you'll get the extra 1%.

I'm talking about my regular Disney Visa not the new "premium". I don't care if they offer me the moon, I'll never get a card with an annual fee.

[brownie]

Originally Posted by gardenia

I'm talking about my regular Disney Visa not the new "premium". I don't care if they offer me the moon, I'll never get a card with an annual fee.

In that case, it doesn't matter how anything is categorized. You get 1% on every dollar you charge.

[Urbss]

Originally Posted by gardenia

I'm talking about my regular Disney Visa not the new "premium". I don't care if they offer me the moon, I'll never get a card with an annual fee.

I sort of feel the same way, but if I can justify the rewards points being over $50 per year more with the premium card, then I will go for it.

Does any already have the premium card? If so, can you tell what purchases are netting the double points and what are getting the 1%?

[VWL Mom]

Originally Posted by Urbss

Does any already have the premium card? If so, can you tell what purchases are netting the double points and what are getting the 1%?

I just got my first statement and the were broken out by 1%, 2% and bonus points. Very neat and organized. All my charge points appeared where I expected them.

They have moved all Wal-Mart to grocery (this was a previous discussion).

[gardenia]

Originally Posted by brownie

In that case, it doesn't matter how anything is categorized. You get 1% on every dollar you charge.

Not true. They have promotions from time to time, just like other rewards cards.

[Urbss]

Originally Posted by VWL Mom

I just got my first statement and the were broken out by 1%, 2% and bonus points. Very neat and organized. All my charge points appeared where I expected them.

They have moved all Wal-Mart to grocery (this was a previous discussion).

Very interesting, I would have expected Wal Mart to be categorized as a department store or something - this is good to know. Now I wonder what our local convience store (Sheetz) would be categorized as because I do purchase gas there.

So, if I would opt to upgrade to the premium card, do I need to agree to a minimum contract time or can I cancel and go back to the original at any time?

Thanks again everyone!!!
Tom

[DizneyRox]

Originally Posted by Urbss

So, if I would opt to upgrade to the premium card, do I need to agree to a minimum contract time or can I cancel and go back to the original at any time?

I think you would have the Premium for a year, after that you can cancel and reapply for the regular card if you wanted to.

I think you can upgrade without a problem, I've heard it mentioned several times that it would be a reapply process to downgrade. Kindof sortof makes sense but not really.

We're in the Premium and will be... I've already sporting like $150 in rewards since we got it, which more than covered the $50 entry fee.

[The Hitchhiking Ghost]

Originally Posted by gardenia

I'm talking about my regular Disney Visa not the new "premium". I don't care if they offer me the moon, I'll never get a card with an annual fee.

Too bad, in the first month I used my new upgraded premium card, I covered the annual fee, so the rest of the year is pure gravy and more rewards for Disney

[The Hitchhiking Ghost]

Originally Posted by Urbss

Very interesting, I would have expected Wal Mart to be categorized as a department store or something - this is good to know. Now I wonder what our local convience store (Sheetz) would be categorized as because I do purchase gas there.

So, if I would opt to upgrade to the premium card, do I need to agree to a minimum contract time or can I cancel and go back to the original at any time?

Thanks again everyone!!!
Tom

Well, regardless for how long you keep it, you will be assessed the $49 annual fee, so if after 6 months you want to downgrade, I'm sure you can, but its not like you will get a proportionate refund of your annual fee. Basically use it for a year, then before your annual fee is due decide whether or not it makes sense for you to continue paying the annual fee. If not, call and downgrade to the classic visa.

Chase does not itemize individual charges as 1% or 2%. On my first statement after upgrading what I saw was one line that said 1% rewards, then a second line that said 2% rewards and then a 3rd line which said Bonus rewards (which would be the add'l 3%). The bonus rewards for the one month were enough to cover my annual fee, so for me, despite hating to pay annual fees, makes no sense to be stubborn on principal when I can get more rewards than the cost of the annual fee.

Our Target store appears to fall fully under the % category. They don't split the receipt into two categories, the whole thing, whether groceries or merchandise, it's all 2%

[VWL Mom]

Originally Posted by The Hitchhiking Ghost

Chase does not itemize individual charges as 1% or 2%. On my first statement after upgrading what I saw was one line that said 1% rewards, then a second line that said 2% rewards and then a 3rd line which said Bonus rewards (which would be the add'l 3%). The bonus rewards for the one month were enough to cover my annual fee, so for me, despite hating to pay annual fees, makes no sense to be stubborn on principal when I can get more rewards than the cost of the annual fee.

FYI,If you bank online you can see the additional 2% broken down in to categories.

[The Hitchhiking Ghost]

Originally Posted by VWL Mom

FYI,If you bank online you can see the additional 2% broken down in to categories.

Where??

I go online every day and I've never seen it. When I go to Chase on line my statement just shows total earned on 1%, 2% and bonus, but it doesn't itemize the charges by those categories, or if it does I can't find it.

[VWL Mom]

Originally Posted by The Hitchhiking Ghost

Where??

I go online every day and I've never seen it. When I go to Chase on line my statement just shows total earned on 1%, 2% and bonus, but it doesn't itemize the charges by those categories, or if it does I can't find it.

Click on show rewards (bottom right), then see rewards detail, and finally see rewards history.

[The Hitchhiking Ghost]

Originally Posted by VWL Mom

Click on show rewards (bottom right), then see rewards detail, and finally see rewards history.

Thanks

I've never bothered to click on that last link. Unfortunately it still doesn't tell you what's in restaurants, gas or groceries, but with a little effort I should be able to scan my charges to find which ones make up the 2%'s.