[bwm8184]

I was just wondering if I should apply for the card or not. I'm 20 years old and this would be my first credit card and I figured this would be the one to get since I Love Disney. Thanks for the input.

[queensmama]

the intrest rate is pretty high so if you intend to keep a balance I would say no there are better offers out there. If you pay it off every month then go for it.

[BESUNNYSIDEUP]

I have to agree. As much as I love the Disney card there are a lot better ones out there. For one the interest rate is not fixed (its flex). The interest rates are only going to get higher from here on out for a while.
If you plan on paying it off every month then it won't matter.
I would suggest having one but don't use it unless you are making an online purchase, renting a car, reserving a hotel room, or something like that.
I am so happy to hear you don't have a card yet!! I wish I could say the same. I guess my advise is to get one (any one you want) and to never carry a balance unless you HAVE TO.
FYI- the best one out there that I have found is the Pulaski Bank card. It is a little more trouble to apply for it but in the end it is a much better card and lower interest rates.
Hope this helps.

[rlander]

The Disney Visa is a Platinum card with a $15,000 min. credit. I would guess it would be hard to get considering this would be your first card and probably don't have much credit history. But go ahead and apply. All they can say is no.

[mickey]

Originally Posted by rlander

The Disney Visa is a Platinum card with a $15,000 min. credit.

Really? Mine isn't that high. I asked for a low limit though, seems to work out better for me.

I pay it off every month, that is the only way I can recommend it. We use it to pay for stuff we normally would use a check like groceries, gas, etc. I also use it for business expenses that I get reimbursed for immediately. One month, they had an error with their online pay system, and I got charged interest for the month. It ended up being nearly $150 on a low balance. I got it waived, since it was their fault, but talk about incentive to pay it off every month!

[jodilt]

Originally Posted by rlander

The Disney Visa is a Platinum card with a $15,000 min. credit. I would guess it would be hard to get considering this would be your first card and probably don't have much credit history. But go ahead and apply. All they can say is no.

Mine isn't a platinum, and my limit isn't anywhere near that!!!

[DisneyTeacher]

If you don't carry a balance it's a good card.

[BuzzLightyear]

It's a great card, but like everyone says, you MUST pay off the balance every month or it's not worth it's rewards dollars.

[rlander]

Hmm..my limit is high, but I figured that was because my account was considered to be platinum. My original card said Platinum on the back, but my new Mickey & Friends does not. I will call them today to find out for sure. I figured since it was platinum, I got all the benefits of a typical platinum card.

BTW...I never carry a balance and have never approached my limit.

[SandrA9810]

NO NO NO NO NO NO NO NO NO NO NO NO NO!!!!!!!!!!!!!!!!!!!!!!!!!! PLUS A BAZILLION MORE TIMES.

I don't care how tempting it is to get approved for a credit card, never ever get one. Just stick with a checking account that has the visa logo. Everytime you sign, rather than use it as a debit card, it acts like a regular credit card, and goes towards your credit rating.
My room-mate worked for Target at about 19 and got approved for one of thier cards. Plus her parents gave her a card to use for gas, so at a very young age, she has a credit score of over 650 (great for approval on everything).
After moving out, and not have a wonderful paying job, and getting stuck with buying neccessities on a credit card, and also using it like free money. We are way over our heads in debt.
You never know what's going to happen, you might have a cushy life at home, but you never know when things are gonna change, and you end up on your own.
We are in dept almost 10,000$ with no interest rate under 15% and as high as 30%.
card 1, $2,100 with 26% apr, minimum due every month, 70$ (originally had)
card 2, $1,000 with 30% apr, minimum due every month, 65$ (got it for balance transfer at 0% apr, went over by like 5$ and now this)
card 3, $1,500 with 19% apr, minimum due every month, 45$ (first card)
card 4, $800 with a 20% apr, minimum due every month, 30$ (got it for gas only)
card 5, $900 with a 19% apr, minimum due every month, 40$ (store only card, got it for christmas gifts, but it's not maxed out)
card 6, $5,000 with 21% apr, minimum due every month, 100$ (store only card, got it to redo my brother's room. My mom never paid while the interest rate was at 0%, but it accrued, and now there's $300 in finance charges from the past year, it's not maxed)
The worst part, we're 21 and 22 and have to deal with this for at least another 5 years. The cards are held in both our names and we're both responsible for the payment of it all.

Never ever get a credit card, especially if you're in college. And don't ever think about applying for one until you have a career paying job. And it won't be until then when you'll want to make your first large purchase, IE car, house... Until then, just use your good ol cash. And slowly add credit by way of a checking account.

[SandrA9810]

And the fact that you love disney, and would love to buy everything disney sells, you are going to buy buy buy, and think, well this month I'll pay half, and next month I'll pay it off. Doesn't work that way budy... you are the main target age for every credit card company... buy buy buy, be a good little kid and pay the minimum, and be screwed over for the next 5 years of your life paying it off. plus, hundreds in interest payments.

[Cavey]

SandrA9810 is right. Stick with a debit card. Credit cards are a dangerous thing. The temptation to misuse it is way too high in your early adulthood, and once you've run it up a few $1000, it will take years to pay it off--and keep you from getting the credit score you need to buy a car or house or whatever.

For the first years of our marriage (before debit cards) we only had a credit card to secure things like hotel reservations and etc. Otherwise, if we didn't have the cash, we didn't buy it. It saved us a lot of grief later on.

[SandrA9810]

All my cards have met the scissors. I still have them, and like the store only cards, I take in the bottom half to make payments with. Other than that, I keep them just because they are my first cards, and they're so pretty. But it does keep me from spending.

Ohh and another thing they just love to do to ya, is raise your limit. If you're in good standings, and max out, they review your history like every 6 months and will give you a raised limit. Then you think, well that's good in case of emergencies. And then you use it on senseless stuff. Then every year, they review your account and hike up your interest rate, because you've maxed your card out. And if something happens with one payment from any other card, it's like the news spreads so quickly, and other credit companies will see you defaulted and raise your limit, even if you never ever defaulted on thier card.
BTW, even with 0% interest for the first 6months/year/whatever, anything you don't pay off in that year, grows interest then bam at the end of the year, it pops up and then you start paying interest on interest. Ohh and if you do default during these promotional periods, they jack everything up. On citi, we had a 500$ balance transfer with 0% interest. Defaulted by going over 5$, paid the penalty fees, then they raised the interest to 30%. But Kari talked with them, and they made it so all future purchases are at 7%, but the card was maxed at a 1,000$ so it's not like she could make any future purchases without paying the stupid thing off.

It's a horrible horrible, billion dollar industry game they play with you. Don't ever get tangled up in it. Mommy and Daddy aren't going to bail you out.
I hope I've done my thing, and scared you completly away from credit cards.

[PhilliesFan]

You will need a credit card in order to establish credit. Take out one credit card only, and request a low limit like $1,000. Make sure you have enough money in you bank account to pay it off at the end of the month. It's very easy to bite off more than you can chew. As you grow older, and your salary and credit score rises, you can always then request a higher limit.

[SandrA9810]

It's not the only way to establish credit. And student loans are a great way, and always with low interest, and it's subsdized?? while you're in school. And there's great incentives if you keep up with your monthly payments.
And a 1,000$ is way too much. And probably wouldn't be approved for that high of an amount unless his income was like 12,000$.
Your best bet for any card if you must have one, is a store only card. You have a good chance at getting approved for that. ****, go over to DOC, buy a pair of Oakley sunglasses that cost like 500$, and take out one of thier credit cards and pay it off within the 6 months no interst promotion. But never close the account.
You could also ask for your parents to let you have a card in your name. It's a good way to earn credit through them. That's why I have cards under Kari's account.
I'm actually getting pre approved letters now, but they have high annual premiums and high interest rates. So i'm not interested at all.
But the instant they give it to you, hide it somewhere where you will forget about it. Slowly but surely it will help.

But there's no reason to take out a real credit card this early in the game... and like I stated before, they catch you everytime, and throw you down ten time harder than when you were falling. There's no reason to tempt some one else into the growing number of people in debt already.