Chase issues two Disney bank cards: the Disney Visa Card and the Disney Premier Visa Card. Both earn rewards on Disney purchases and offer exclusive perks on park visits, but have different credit levels and offer different earning rates. If you commonly spend Disney Money, knowing which card suits your credit profile will prevent the effort of asking for the unsuitable application.
This article will cover the credit rating you wish for every card, what else Chase evaluates, and tips on how to strengthen your application before you apply.
What credit rating do you wish for a Disney bank card?
The Disney Visa Card generally requires a credit rating of around 660, which is on the upper end of the suitable credit range. The Disney Premier Visa Card raises the bar slightly higher, with most approved applicants having a credit rating of 700 or higher.
If your credit rating is closer to 660, the usual Disney Visa is a more realistic start line. The Premier version offers higher earning rates and more invaluable perks, but requires a stronger credit profile in return.
Chase’s 5/24 rule applies to each cards
Both Disney cards are issued by Chase, meaning Chase’s 5/24 rule applies above all else. If you could have opened five or more bank cards from any issuer within the last 24 months, Chase will robotically decline your application, no matter your credit rating.
Check your credit report and count latest accounts from the last two years before applying. If you’re at the least five years old, you have to to attend until enough accounts have passed this window. This single rule eliminates more Chase applicants than some other credit rating query.
What else does Chase listen to?
Chase reviews your complete financial profile and credit rating. These aspects have the best weight:
- Income: A better income relative to your existing debt load signals that you could manage a brand new line of credit. There isn’t any published minimum amount, but a gentle income strengthens any application.
- Debt to Income Ratio: A lower ratio shows Chase that you could have room to tackle a brand new credit commitment without overextending yourself.
- Payment history: Recent late payments or accounts in collections will trigger alerts no matter your current credit rating. A clean current balance sheet is more vital than older negative grades.
- Credit utilization: High balances relative to your available credit limits indicate financial strain. It helps to maintain utilization below 30%, and below 10% is best.
- Existing Chase relationship: If you have already got a Chase account in good standing, this history will profit you.
What do you get with each card?
With the Disney Visa Card, you may earn 1% back in Disney Rewards Dollars on all purchases and 0% APR on select Disney vacation packages. Since there is no annual fee, it is a low-risk entry point for Disney fans trying to generate profits for park visits.
With the Disney Premier Visa Card you get 2% back at gas stations, grocery stores, restaurants and most Disney locations and 1% back on every part else. It comes with an annual fee of $49, but offers significantly higher earning potential for anyone who commonly spends money in these categories. Both cards include perks like exclusive opportunities to satisfy characters and discounts on select Disney items and restaurants.
How to enhance your possibilities before applying
If your credit rating or profile needs work, these pre-application steps may help. Most show results inside two to 3 months of consistent effort.
- First check your 5/24 count: Check your credit report and count latest accounts opened within the last 24 months. When you are at your limit, waiting is the one option.
- Pay off revolving balances: Reducing your bank card balance lowers your utilization ratio, which may improve your credit rating faster than most other changes you possibly can make.
- Pay every bill on time: Payment history makes up about 35% of your credit rating. Set up automatic payment to eliminate the chance of a missed payment impacting your application.
- Dispute errors in your credit report: Pull your credit reports from Equifax, Experian and TransUnion and flag any inaccuracies. False negatives can lower your credit rating for no reason.
- Avoid opening latest accounts before applying: Each hard inquiry lowers your credit rating barely. Wait to use for added loans within the months leading as much as this application.
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Conclusion
Disney bank cards are an excellent fit for Disney frequenters who wish to turn on a regular basis purchases into park experiences. Start with the usual Disney Visa when your credit rating is around 660 and aim for the Premier version once your credit rating exceeds 700.
Be sure to clear your 5/24 count before applying. Improving your credit rating won’t matter if Chase’s automatic filter catches you on the door.
