The Walt Disney Company, Bank One and Visa Press Release

Disney's Visa Credit Card from Bank One Turns Everyday Purchases Into Magical Disney Rewards

First-Ever Disney Co-Branded Credit Card With Unique Rewards Program


ANAHEIM, Calif. and NEW YORK, March 4 -- The Walt Disney Company, Bank One and Visa today unveiled a new family-focused credit card that will enable consumers to turn everyday purchases into magical Disney rewards, including fun-filled Disney vacations, the latest Disney DVD or a must-have Disney toy.

Disney's Visa Credit Card from Bank One provides cardmembers the opportunity to earn and redeem Disney rewards quickly and easily. With unmatched flexibility, no blackout dates and an attractive interest rate, Disney's Visa Card is one of the most competitive rewards cards available today.

The card's key feature is that it enables cardmembers to earn Disney Dream Reward Dollars(SM) by using their card anywhere Visa is accepted. Disney Dream Reward Dollars can be redeemed toward a wide variety of merchandise, theme park tickets, hotel rooms and more at Walt Disney World(R) and Disneyland(R), Disney Cruise Line(R), U.S. Disney Stores, Disney catalog and Disney Stores Online.

"We've designed this unique card to help fulfill the dreams of our Disney guests and families," said Michael Eisner, chairman and CEO of The Walt Disney Company. "Through our strategic alliances with Bank One and Visa, we've created a credit card from Bank One that will offer cardmembers the features they need, like competitive interest rates and platinum card benefits, while also providing what they want -- magical Disney rewards and unparalleled flexibility to use those rewards."

Disney's Visa Card offers the following great features:
-- No annual fee and a competitive interest rate
-- 1 percent or more back on card purchases in the form of Disney Dream Reward Dollars
-- No blackout dates when redeeming Disney Dream Reward Dollars
-- No interest for six months on most Walt Disney Travel Company and Disney Cruise Line vacation packages purchased with Disney's Visa Card
-- The flexibility to redeem reward dollars toward full or partial costs of a wide variety of merchandise, tickets, hotel rooms and vacation packages at Disney
-- Cardmembers can begin redeeming with just 20 Disney Dream Reward Dollars, a low threshold compared to other rewards cards
-- Exclusive opportunities to earn bonus rewards and realize special savings on Disney hotel rooms, vacation packages, merchandise and more
-- The ability to combine Disney Rewards with other special Disney offers and discounts
-- Opportunities -- just for cardmembers -- to participate in special contests and sweepstakes
-- Global Visa acceptance at over 30 million retail locations
-- Enhanced Visa Platinum benefits including purchase protection, travel insurance and zero liability on fraudulent card use

Huge Up-Front Demand

The card is already in high demand. Almost 100,000 people have pre-registered for the card after Disney offered its most loyal customers the opportunity to be first-in-line for the new product last month.

This early demand indicates the strong appeal of Disney's Visa Card to the millions of American families who spend an average of $5,000 annually on their credit cards. In addition, the average family spends another $11,000 annually on everyday household expenses that they could also pay with a credit card. With credit card and reward features custom-designed for the needs and wishes of today's families, Disney and Bank One have the opportunity to capture a substantial share of existing and new card spend and build one of the largest co-branded credit card portfolios in the industry.

"Disney's reputation for customer service and creativity is unparalleled," said Jamie Dimon, chairman and CEO of Bank One. "We are delighted Disney chose to work with us to offer a flexible, fun and innovative credit card that provides such tremendous value to customers. This relationship promises to redefine the value of credit card co-branding and is perfectly aligned with our strategy to work with the world's best brands."

"There is no company more in touch with families than Disney and no card better able to reward them than Disney's Visa Credit Card from Bank One," said Carl Pascarella, president and CEO of Visa U.S.A. "Today's consumers want more from their card, and this card delivers. Just by making everyday purchases, consumers earn great rewards that tap into the magic of Disney."

Magical Launch

Today, Mickey Mouse joins Michael Eisner and Jamie Dimon at The New York Stock Exchange to watch as they ring the opening bell in celebration of the card launch and this innovative alliance.

After the bell ringing in New York, guests at the Disneyland Resort in Southern California will watch and celebrate as Bob Iger, president and chief operating officer of Disney; Phil Heasley, chief executive officer of Bank One Card Services and Carl Pascarella unveil the new card design -- with a touch of magic.

In addition to a significant direct mail campaign and retail banking center promotions, Bank One will launch a national multi-million-dollar television and print advertising campaign to promote the card. The campaign will highlight the competitive benefits of the card, along with the ability to make Disney dreams a reality through everyday card purchases. The television advertising campaign will begin airing the week of March 10.

The eye-catching card design features the world-famous Mickey Mouse silhouette framed by a pixie-dust-sprinkled bright red background. All applicants approved during the first year will be recognized with a "Charter Cardmember" distinction, which will be embossed on their card.

Consumers can apply for Disney's Visa Card by visiting www.DisneyApplyNow.com or by calling Bank One at 888-878-7222.

The Walt Disney Company is a diversified, international family entertainment and media company whose operations include theme parks and resorts, filmed entertainment including motion pictures and television shows, home video products, records, consumer products, a cruise line, radio and television stations, broadcast and cable networks, Internet offerings, publishing activities and professional sports enterprises. Disney owns ABC Inc. Founded in 1923 by Walter E. Disney and his brother Roy O. Disney, The Walt Disney Company generated revenues of $25.3 billion in 2001. It employs more than 110,000 people worldwide.

Bank One Corporation is the nation's sixth-largest bank holding company, with assets of more than $275 billion. Bank One has more than 50 million credit card customers and it is the largest Visa card issuer in the world. Bank One offers a full range of financial services to large corporate and middle market commercial customers and retail consumers. It can be found on the Internet at www.bankone.com.

Visa is the world's leading payment brand and largest consumer payment system, enabling banks to provide their consumer and merchant customers with a wide variety of payment alternatives. Nearly 21,000 financial institutions worldwide rely on Visa's processing system, VisaNet, to facilitate $2.4 trillion in annual transaction volume with virtually 100 percent reliability. Consumers in more than 150 countries carry more than one billion Visa-branded cards, accepted at 30 million locations around the world. Within the U.S., nearly 14,000 financial institutions issue more than 385 million Visa cards, accounting for $970 billion in annual transaction volume. Visa offers a trusted, reliable and convenient way to access and mobilize financial resources -- anytime, anywhere, anyway. For more information about Visa, please visit www.visa.com.

I'm glad they finally told me what I will get with the new card, since I've already applied for it (I need to have it by my trip to WDW in May, and hope to use the 6 months of no payment necessary for the trip).

Yes, I'm one of those pathetic 100,000 plus "loyal customers" (aka wallets to extract money from) that has already signed up for it. Anyone else want to admit it? That's the first step in recovery.

why couldn't they make the design more exciting?

I got my card in the mail yesterday, so I finally could read how to earn my Disney vacation. You receive one dream dollar for every $100 in purchases with the new card. In order to earn my "dream vacation" I figure I will have to charge $200,000. Let's see, if I charge $2000 per month...

Needless to say I am disappointed in these terms. With my Marriott Visa, I can earn a one week vacation in less than two years. Thanks, Disney!

At least you qualified for the card.

For reasons related to a job layoff and other factors several years ago, my wife and I have zero credit cards - both because we don't want them nor could we qualify for them if we wanted to.

The end result? We are no longer able to receive discounts or benefits for being life-long Disney fans and park addicts.

Let's see....we used to get the discounts through work for free (The Magic Kingdom Club). Cool!

Then we had to pay for discounts (The Disney Club). Well, not so cool, but given we used it for Annual Passes and we also got the Disney Magazine subscription, that was okay.

Now we have to qualify to receive a discount. We have to meet the financial terms and increase of debt-to-income ratio if we want to get a few bucks off of a Pooh sweater or a ticket to the Parks...

Has anyone read "Down & Out in the Magic Kingdom" by Cory Doctorow? (http://www.craphound.com/down/ for a free downloadable version) In this wonderful bit of Science Fiction set at Walt Disney World, people are judged based on their "Whuffie" score - an ever-present, always-updated calculation of their popularity, social-standing and success. If you've got high Whuffie, you can do anything! However, if you have low or no Whuffie - consider yourself the scum of the Spaceship Earth...

Is this the first step towards that Science Not-So-Fiction? At what point will Disney say "You can only visit if you make more than this much - bring your bank statement for a magical Disney discount!"

Oh, I know what some of you might say. "Just purchase stuff, then pay it right off." Doesn't work. Look at the percentage of debt the average American is in right now. Only recently, because of this yucky economy is consumer debt being slightly reduced.

Am I bitter that what little discounts I was able to get are now gone to me because I don't have the credit rating NOR the desire to become more in debt?

Dang right I am..... :mad:

Gee, I remember when Disney used to be a creative content company.

Mark, you are right on. I had forgotten how this card has replaced the other club cards. I am lucky enough to be able to qualify and pay off my debt each month but others will actually go into debt to earn a "free" vacation!

There are so many of these reward credit cards out there, you know that companies like Disney make lots of $$$ from them. The trick is to find the one that provides the most benefit to the cardholder--and the new Disney Card is not it!

Maus, don't forget the maximum limit per year ($750), so don't plan your trip for three years......:rolleyes:

And to add insult to injury, have you seen the latest commercial Disney and Bank One have out? It shows small children encouraging their parents to buy stuff, implying the use of the Disney Card for these purchases. The tag line of the commercial has a small girl walking up to Mickey and saying something like, "Do you know what I had to do to get here?"

This is just great. Now we have Disney encouraging children to put their parents further into debt so they can get a vacation out of it. Now granted, even my son once asked - after we told him there wasn't enough money to visit Disney that year - if we could sell his little sister for the extra cash.

However, to come right out and encourage irresponsible spending to small children.... These kids are going to associate buying things with a credit card to getting a free trip!

Sigh... And all because some genius at Disney Corporate didn't want little Susie's dad taking an additional 10% off of an already over-priced stuffed Pooh bear or possibly save a few dollars off of a vacation-of-a-lifetime, where Disney would be getting most of their cash anyway.

I just got my card and I may turn around and close the account. I hadn't realized that you had to make a decision where you would be using the reward dollars before you could redeem them. (I travel to both DLR and WDW a couple of times a year.) Since the reward rate is so low, the least they could do is make the reward dollars usable at both DL and WDW instead of 1 or the other.