View Full Version : Penalty for making extra credit card payments?

08-04-2006, 08:35 PM
I recently got a Disney Visa (my 1st credit card-- DH has 1, but we always pay it off right away) and want to pay it off as fast as possible, but it will still take me a few months.

I've already made a payment this month, but have some unexpected cash & want to make another payment before this new money "goes" somewhere.

Do CC companies let you make extra payments, or is there some sort of penalty? I've looked over all the VERY fine print & can't seem to see anything other than late payment & interest rate info. TIA for any help. I don't think I'm meant to be a credit card person-- having the debt, even though it isn't that much & will be paid soon makes me feel queasy!

08-04-2006, 08:39 PM
I make extra payments to that card all the time (in fact, every few days whenever I have used it) to keep the balance 0. I have never seen any penalties. I use it like a debit card... put money in and then spend it! You can only make a payment through them every 3 days, I think, though. So if I want to do it more often or pay more than the amount owed, I just pay it electronically through my bank.

08-05-2006, 12:59 AM
I pay mine in full every Monday morning - just works best for me.

08-05-2006, 05:25 AM
I've made extra payments when carrying a balance so I could get it paid off. When I have the money, it's better off applied right then and there or I spend it on something else. No penalties for extra payments, matter of fact it's a good thing.

08-05-2006, 07:19 AM
Usually pay a few times during the month. Never a problem. Also, you still get your Disney Rewards on every dollar spent, regardless of whether you pay it immediatley or when due.

08-05-2006, 07:31 AM
I pay off the balance twice a month so it never seems high. It's not saving me any money (in fact probably costing me a few cents in interest I could earn on the money if I kept it in my account) but it's mentally easier to not get a huge bill every month.


08-05-2006, 08:17 AM
I make payments to my Disney Visa online multiple times throughout the month. As a matter of fact, many months the bill is paid off before it even arrives in the snail mail!! :)