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A New Manufactured Spending Opportunity?
A lot is made about us “bloggers” ruining everything for everyone. If I had a dollar for every time someone wrote “you bloggers” followed by an insult or an angry statement, I would be rich. (For example, I just love Ron’s comment on this post.) While I don’t think these people are very credible with their criticisms, they do get one thing right. We don’t tend to teach enough.
In that vein, I thought I would walk you through my thought process of finding a new avenue of manufacturing spend. Today I will talk about the new “Disney Vacation Account” in detail including why it looks like a MS gold mine.
Disney Vacation Account
I learned about the Disney Vacation Account from my friends at Park Journey. (Great amusement park site!) The way the program works is that you deposit money from a debit or credit card into a no-interest savings account that Disney holds on your behalf. The minute I saw the word credit card my mind started spinning.
Most people who read Miles to Memories have good credit and no debt so in most cases this product wouldn’t work for them. While it is unfortunately true that many people are unable to save on their own, I don’t see that as being an issue for my readers. On the flip side, my readers love to deposit money into accounts funded with a credit card. (I wonder why?)
The Truth is in the Terms
So once I saw that an opportunity existed, I began to dig into the terms & conditions.
First I had to see if there is any way to liquidate the funds from this account without spending them at Disney:
Then I had to find exactly what payment methods are accepted:
Next I needed to know what the contribution limits are:
Looking Good So Far
So at this point I know that I can load up to $1,000 per day to a Disney Vacation Account from my credit card. Disney also allows up to 10 partial refunds per account and the maximum balance at any given time is $25,000. This could be fun.
Of course the next step in my research process is to read in detail the refund process. How does Disney handle the refunds and what type of paperwork is required:
BOOM! There goes the whole scheme. Disney is too smart for us. If you decide to ask for a refund, they will send the money back to the original form of payment. Manufactured spending plan foiled!
The Next Step
Of course true manufactured spenders don’t just stop there. They try to figure out if there is a manual process by which Disney will refund to a different card or send a check? What if the account is closed?
Many good manufactured spenders would open a Disney Vacation Account and try a test funding to see how exactly Disney refunds the money. There are many times when what is written in the terms and conditions isn’t the reality of how things work.
I just found out about the Disney Vacation Account today, although it has apparently been in a limited beta for quite awhile. If you are reading this and think I am hinting at something, please know that I have no knowledge other than what I shared in this post.
The true purpose of this post was to share a little insight about what to look for while at the same time not killing an existing deal. Hopefully this will help grow the community without the need to kill fragile deals.
If you like posts like this one, then please let me know. Also, if you ever run across something and have a question, I can always be reached at email@example.com. If you share something with me in confidence, then I will not share it on the blog without your permission. Thanks and have a great evening!
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Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.