Disney Visa Card Question - Trip purchases 0%

[DznyLvr2005]

OK I feel like an idiot because I'm confused here...
I hardly ever use my Disney Visa. But I did put my balance of $399 for my trip on the card about a month ago. 0% for 6 months. OK I get this...
But Then I went to Target and spent $70. 9% interest.

When I pay the bill, how do they figure the 0%? If I pay $70 towards my card, will that count as the 9% interest, then I'll have 0% on the rest, or does the $70 wait until the end and so I'm really not getting 0% on my trip unless its the only thing I put on my card?
:) Thanks for any help!
ETA: And I just realized that I posted this in the wrong spot.. so sorry! ;)

[jackal]

Your payment will come off the $399 that you just put on first. They will charge you that interest on the $70 until you pay the $399.

Unfortunately that is the way credit card companies get you. Obama is trying to get this policy changed, but for now, you will pay interest on that $70 until the $399 is paid off.

The $70 waits till the end.

[DznyLvr2005]

Your payment will come off the $399 that you just put on first. They will charge you that interest on the $70 until you pay the $399.

Unfortunately that is the way credit card companies get you. Obama is trying to get this policy changed, but for now, you will pay interest on that $70 until the $399 is paid off.

The $70 waits till the end.

:( I figured that would be how it worked, but I did have some hope that I'd pay the $70, and have 0 interest on the 399. That would have been nice :)
So really the only way your trip is truly 0% is if you don't put anything else on the card, or pay everything in one billing cycle.
Thanks for your help!

[jackal]

:( I figured that would be how it worked, but I did have some hope that I'd pay the $70, and have 0 interest on the 399. That would have been nice :)
So really the only way your trip is truly 0% is if you don't put anything else on the card, or pay everything in one billing cycle.
Thanks for your help!

Well, technicially you are still paying 0 percent interest on the 399, you are just still paying your interest on the $70. Yes, the only way your trip is 0% if you don't put anything else on the card for six months or you pay everything in one billing cycle.

When Obama's bill passes, that may change, but I don't think that is going to go into effect until 2010.

[DCDisney]

If you pay your bill every month in full then it really is 0% for the vacation. I paid 100% of anything new I charged each month and then however much I felt like towards the trip. I did call Visa before to verify this is how it all worked. If you don't carry a balance it was very simple and each month's statement showed how much trip was left to pay.

[HLAuburn]

I don't mean to butt in here, but that's not the way it works.

Generally speaking - yes, payments go towards the lowest APR promotion, like if you had a balance transfer amount at 4%. However, with the Disney vacations at 0%, you get 0% for 6 months regardless. If you pay $70 for the Target, that will be paid off and you're vaca will stay at 0% for up to 6 months.

You can make purchases and any payments up to you the amount of your charges will go towards those purchases. Anything above that will then apply towards the vacation balance.

You can call Disney Visa to verify this, but I'm sure its the way it works. We've done this a bunch of times!

[Maggie'sMom]

I don't mean to butt in here, but that's not the way it works.

Generally speaking - yes, payments go towards the lowest APR promotion, like if you had a balance transfer amount at 4%. However, with the Disney vacations at 0%, you get 0% for 6 months regardless. If you pay $70 for the Target, that will be paid off and you're vaca will stay at 0% for up to 6 months.

You can make purchases and any payments up to you the amount of your charges will go towards those purchases. Anything above that will then apply towards the vacation balance.

You can call Disney Visa to verify this, but I'm sure its the way it works. We've done this a bunch of times!

Yes, this is correct. It's how it has always worked for me.

[mpetti]

:cool1:Hi fellow Staten Islander. I thought with the Disney Visa Card there is a way to put the money towards the specific promotion. I seem to remember our last trip putting it on the card and indicated each month what amount I wanted to go toward my vacation. This way it was paid up before the 6 months. You should call up Chase and ask how it works. Good Luck.

[DznyLvr2005]

:cool1:Hi fellow Staten Islander. I thought with the Disney Visa Card there is a way to put the money towards the specific promotion. I seem to remember our last trip putting it on the card and indicated each month what amount I wanted to go toward my vacation. This way it was paid up before the 6 months. You should call up Chase and ask how it works. Good Luck.

:) Hi....
So if I just pay the $70 this month, you're saying that for the $399 that's left to pay, there will be 0% on it then?
My hubby told me yesterday that that's not how it works with credit cards, but now a few people on this post have said it does. Hmmmm, I guess at this point it doesn't really matter since we paid the whole thing off yesterday, but it would have been nice if I only paid the $70, then had another 5 months to pay the $399 balance because you know that living in SI is really expensive!!! LOL! :) Could have used the money for other things until then...

[lovindonald]

Then I went to Target and spent $70. 9% interest.

;)

A little off topic here, you have 9% interest on your Disney card???? I have 12.9%. I guess I should call and ask for it to be lowered. Thanks for the info!

[DznyLvr2005]

A little off topic here, you have 9% interest on your Disney card???? I have 12.9%. I guess I should call and ask for it to be lowered. Thanks for the info!

it's 9.something. I got it last year. Definately call and see if yours can be lowered!!

[lovindonald]

Thanks I will do that right now!! WOW, big difference!

[a1tinkfans]

I don't mean to butt in here, but that's not the way it works.

Generally speaking - yes, payments go towards the lowest APR promotion, like if you had a balance transfer amount at 4%. However, with the Disney vacations at 0%, you get 0% for 6 months regardless. If you pay $70 for the Target, that will be paid off and you're vaca will stay at 0% for up to 6 months.

You can make purchases and any payments up to you the amount of your charges will go towards those purchases. Anything above that will then apply towards the vacation balance.

You can call Disney Visa to verify this, but I'm sure its the way it works. We've done this a bunch of times!

:thumbsup2

[jackal]

I just called Disney Visa and they said if you carry a balance and add your trip to the card, payments will be deducted from the zero percentage rate first. Or if you have your trip on the card at zero percent and then charge something else, they deduct it from the lowest percentage rate on your card. Which is what they were doing to me. I had a balance of a few hundred. Charged my trip and they take all my payments off the trip balance.

The agent I talked to just verified this as well that this is their procedure. He also indicated as of now, most, if not all credit companies operate under this rule.

[Maggie'sMom]

I just called Disney Visa and they said if you carry a balance and add your trip to the card, payments will be deducted from the zero percentage rate first. Or if you have your trip on the card at zero percent and then charge something else, they deduct it from the lowest percentage rate on your card. Which is what they were doing to me. I had a balance of a few hundred. Charged my trip and they take all my payments off the trip balance.

The agent I talked to just verified this as well that this is their procedure. He also indicated as of now, most, if not all credit companies operate under this rule.

No, you were given incorrect information. I've used my card for two trips now. Both times payments I've made up to my statement balance excluding the amount of the trip, have gone against the non-trip balance. Only when I pay more than the amount of my non-trip charges is the anything deducted from my 0% balance.

E.g. Let's say I charge $2000 for a Disney vacation package. I charge an additional $1000 in that month on other items. When my statment comes, if I pay $1000, the amount at 0% stays at $2000. The $1000 in non-trip charges are paid off. And I end up paying no interest or finance charges. If I pay $1100 that month, the $1000 in non-trip charges are paid off and the balance at 0% is lowered to $1900.

If it wasn't handled this way, Chase couldn't advertise that you get 0% for six months on Disney vacation packages.

[Tam1067]

I've done this three times. I use my Disney Visa a lot and pay it off each month except when I have the 0% interest on my Disney vacations.

OP, if you go to Target and charge $70, in order to avoid all financing charges, you need to pay that $70 off when your bill comes. The Disney vacation part will remain at 0% for six months. You're free to pay it in increments if you wish (say $50 this month, $80 next and so on). But you do not have to pay any of it until the six months. And your statement will list the vacation charges separately as well as note when the 0% expires.

The one thing is that if you went to Target and returned part of that purchase, say $10 worth of stuff, and got a credit on your Visa, that $10 would come off the 0% interest balance. So in that case, you'd still need to make the $70 payment for the Target purchase if you wanted to avoid paying any interest. But the remaining $389 on the Disney vacation would have 0% interest for 6 months.

Does that make sense? I stressed and stressed about it until I charged my first Disney trip, and then I realized how simple it was.

Most credit card companies do pay off the lowest interest portion first, but with the Disney Visa, the vacations are a different category. I promise!

[HLAuburn]

This really should be simple - and actually, it is! It really is 0% APR on vacations for 6 months, no matter what your other charges are!

Anyone who has been told otherwise was misinformed! I'm not sure why different people get different information, but it really is what is says it is - 0% for 6 months.

If you put other charges on the card during a billing cycle, you either pay that balance and pay no interest (as usual) or pay a portion and pay the "regular" purchases APR on the remainder - either way, any payment you make will go first towards the monthly purchases and any extra towards the vacation.

:thumbsup2

[disneyfan55]

This really should be simple - and actually, it is! It really is 0% APR on vacations for 6 months, no matter what your other charges are!

Anyone who has been told otherwise was misinformed! I'm not sure why different people get different information, but it really is what is says it is - 0% for 6 months.

If you put other charges on the card during a billing cycle, you either pay that balance and pay no interest (as usual) or pay a portion and pay the "regular" purchases APR on the remainder - either way, any payment you make will go first towards the monthly purchases and any extra towards the vacation.

:thumbsup2

Yes, this is the way it works. I have done this a few times and never paid any interest. (I always pay any additional charges in full and the vacation package stays at zero.) Of course, if you didn't owe or charge anything else, the minimum payment is still due.

[disneygirl1213]

I still have some of my January cruise on my card. When you get the bill, it will show you the amount at the promotional rate and then the amount at the regular rate. They do keep it separate. So as long as I have paid my balance in full minus the amount I still owe on my cruise, I do not owe any interest. I usually pay 1/6th of the amount of the vacation so that it is a zero balance of course before the promotional period is up. Hope this helps!

[disneyfan55]

I still have some of my January cruise on my card. When you get the bill, it will show you the amount at the promotional rate and then the amount at the regular rate. They do keep it separate. So as long as I have paid my balance in full minus the amount I still owe on my cruise, I do not owe any interest. I usually pay 1/6th of the amount of the vacation so that it is a zero balance of course before the promotional period is up. Hope this helps!

Yes, I did this the first time we booked a package for 6 months no int. but the last 2 times I actully only paid additional items or the minimum pmt, whichever was greater and kept the money for the package in a savings account. I paid the package off in full the month it was due in full I know really not much in the way of int. earned now but something. Just another idea to save a little more than the zero interest!

[DznyLvr2005]

Thank you everyone...
I'm really pleased that the Disney card would work this way considering the way most credit cards work.
I guess now it doesn't matter. DH paid off the card the other day. Though I wish he didn't because we will be pretty tight on money until he gets paid again! If I knew this was the case with the Disney Visa, we would have only paid the $70! This is what happends when DH lets me be a SAHM I guess... money is tight at times, but we must get our Disney fix every year! :)

[wiggles]

No, you were given incorrect information. I've used my card for two trips now. Both times payments I've made up to my statement balance excluding the amount of the trip, have gone against the non-trip balance. Only when I pay more than the amount of my non-trip charges is the anything deducted from my 0% balance.

E.g. Let's say I charge $2000 for a Disney vacation package. I charge an additional $1000 in that month on other items. When my statment comes, if I pay $1000, the amount at 0% stays at $2000. The $1000 in non-trip charges are paid off. And I end up paying no interest or finance charges. If I pay $1100 that month, the $1000 in non-trip charges are paid off and the balance at 0% is lowered to $1900.

If it wasn't handled this way, Chase couldn't advertise that you get 0% for six months on Disney vacation packages.

this is correct. I have used mine like this since day one to pay for our trips.

[Magical JenK]

No, you were given incorrect information. I've used my card for two trips now. Both times payments I've made up to my statement balance excluding the amount of the trip, have gone against the non-trip balance. Only when I pay more than the amount of my non-trip charges is the anything deducted from my 0% balance.

E.g. Let's say I charge $2000 for a Disney vacation package. I charge an additional $1000 in that month on other items. When my statment comes, if I pay $1000, the amount at 0% stays at $2000. The $1000 in non-trip charges are paid off. And I end up paying no interest or finance charges. If I pay $1100 that month, the $1000 in non-trip charges are paid off and the balance at 0% is lowered to $1900.

If it wasn't handled this way, Chase couldn't advertise that you get 0% for six months on Disney vacation packages.

This exactly what I was going to post.

I've also read any credits/returns to your Disney Visa in a billing cycle will be applied to the trip balance rather than the current month's statement.

[maggiew]

Do you get your reward points at the time the bill was applied to your card or the time you pay it off?

Thanks,
Maggie

[mgb123]

I don't mean to change the subject, but, what packages are eligible for the 0% finance for six months. The disney rewards card web site specifies select packages.

[Maggie'sMom]

Do you get your reward points at the time the bill was applied to your card or the time you pay it off?

The points are posted to your account when the statement closes.

I don't mean to change the subject, but, what packages are eligible for the 0% finance for six months. The disney rewards card web site specifies select packages.

It works for any package with both room and at least one day park tickets. This is from Chase's website:

0% APR financing on Disney vacation packages
You will automatically receive this 0% APR for 6 months, for each qualifying Disney Rewards® Visa® Card purchase, provided that no payment on your account is past due at the time of purchase. Valid for certain U.S. Theme Park ticket-inclusive Disney vacation packages (minimum one-night stay plus a Magic Your Way Base Ticket at Walt Disney World® Resort/two nights at Disneyland® Resort), all Disney Cruise Line® packages and Adventures By Disney packages of $101 up to a maximum $10,000 per transaction charged to Disney Rewards® Visa® Card prior to commencement of your vacation and booked by you or your travel agent through Walt Disney Travel Company or Disney Cruise Line®.

I think they say "certain" packages to protect themselves if they decide to put additional restrictions, but for now it's a minimum one night resort stay plus one day park tickets.

[mgb123]

Maggie'sMom, Thank you for the info. I never realized I could take advantage of that offer. I just signed up for the account for the Rewards! My bad! Now we may take a second trip this year after all! Thanks!

[Microcell]

Another somewhat off topic question on Disney Visa.. Is there an annual fee to have it?

I kind of want to have it if it will save me money on a WDW trip, but I do not actually want to use it other than for booking trips, and I don't want to pay a fee for that!

[Maggie'sMom]

Another somewhat off topic question on Disney Visa.. Is there an annual fee to have it?

I kind of want to have it if it will save me money on a WDW trip, but I do not actually want to use it other than for booking trips, and I don't want to pay a fee for that!

Currently, there is no annual fee. I don't know if they will add one given the new cc legislation.

[lfwhipp]

I just called Disney Visa and they said if you carry a balance and add your trip to the card, payments will be deducted from the zero percentage rate first. Or if you have your trip on the card at zero percent and then charge something else, they deduct it from the lowest percentage rate on your card. Which is what they were doing to me. I had a balance of a few hundred. Charged my trip and they take all my payments off the trip balance.

The agent I talked to just verified this as well that this is their procedure. He also indicated as of now, most, if not all credit companies operate under this rule.

i am on the phone with them now and they have verified that this is not the case, they pay off the regular balance first and then go to the 0% interest vacation charge

[dogodisney]

When does the trip need to be paid for to get the 0%? Do you pay for the trip when you book or does it qualify if you pay at the 45 day mark?

[KristiMc]

When does the trip need to be paid for to get the 0%? Do you pay for the trip when you book or does it qualify if you pay at the 45 day mark?

Either will work. If you use your card to pay the $200 deposit at booking time - you get 0%/6mo. on the $200 and then when you pay the remaining balance at 45 days you will get the 0%/6mo. on that charge also. It will show two separate charges with the due dates.

It was nice to keep our trip money in savings for 6 months and earn a little interest.

[dogodisney]

Either will work. If you use your card to pay the $200 deposit at booking time - you get 0%/6mo. on the $200 and then when you pay the remaining balance at 45 days you will get the 0%/6mo. on that charge also. It will show two separate charges with the due dates.

It was nice to keep our trip money in savings for 6 months and earn a little interest.

Oh good! Thanks!

[luvsgrumpy]

I just called Disney Visa and they said if you carry a balance and add your trip to the card, payments will be deducted from the zero percentage rate first. Or if you have your trip on the card at zero percent and then charge something else, they deduct it from the lowest percentage rate on your card. Which is what they were doing to me. I had a balance of a few hundred. Charged my trip and they take all my payments off the trip balance.

The agent I talked to just verified this as well that this is their procedure.

I am really confused now, this is the exact information I was given the other week too. I was so confused,:headache: I just paid it all off. My problem was that I kept trying to get a better understanding of it by rewording it and asking questions but the agent just kept reading his "script" over and over again. UGH...glad the balance is paid off (we had a 0% interest rate promo for a year that has now expired), now I will just be sure to pay everything in full monthly

[siskaren]

Either will work. If you use your card to pay the $200 deposit at booking time - you get 0%/6mo. on the $200 and then when you pay the remaining balance at 45 days you will get the 0%/6mo. on that charge also. It will show two separate charges with the due dates.

It was nice to keep our trip money in savings for 6 months and earn a little interest.

I like to make monthly payments on my trips because then I get 0%/6mo for each payment.

[DisneyFairytale]

What I would like to see, if for them to make a Canadian one. If they did, I would be one of the first ones to get it.

Anyone know if one might be coming in soon?

[quirty30]

Just to put this matter to bed, once and for all, here is how it works, straight from Chase's pricing and terms:

You authorize us to allocate your payments and credits in a way that is most favorable to or convenient for us. For example, except for promotional balances for Disney vacation packages, you authorize us to apply your payments and credits to balances with lower APRs (such as promotional APRs) before balances with higher APRs.

This is how I understood it to work but after reading this thread I started to second guess myself.

[Sandisw]

I believe that as long as you pay off your balance (other then the trip) in full each month, you will not be charged interest.

So, if you charge a $2000.00 WDW trip, and $500 worth of other charges one month, you will not be charged interest if you send it at least $500.00.

When I use the card, I pay all of my monthly charges PLUS 1/6 of the Disney amount. I have never been charged any interest doing it this way for any of my WDW trip purchases or my Disney Vacation Club charges.

[dmaz]

Originally Posted by jackal
"I just called Disney Visa and they said if you carry a balance and add your trip to the card, payments will be deducted from the zero percentage rate first. Or if you have your trip on the card at zero percent and then charge something else, they deduct it from the lowest percentage rate on your card. Which is what they were doing to me. I had a balance of a few hundred. Charged my trip and they take all my payments off the trip balance.

The agent I talked to just verified this as well that this is their procedure."


I think that may be the key to the answer. If you carry a balance is the only thing I have seen that may effect the situation.

[YesMickey]

There is a simple way to not ever pay interest using a Disney Card. Only pay for things Disney and pay it off in 6months, and don't use that card to buy anything else. I have had mine for three years now and have never paid a dime in interest. Also I have had nearly $100 place on my rewards card that I have used. So basically I have been paid to have a Disney Visa. Also I have seen talk about Obama changing things regarding the Credit Card industry. Well that has already taken place. The morning we heard about the law passing, that afternoon my wife got a letter from Chase on her ONLY credit card that stated her fixed interest rate of 10.49% will be changing on her July statement to around 15something% and is now adjustable. Needless to say we paid off the balance and canceled that card the next day. The new credit card laws will not benefit people who pay their bill on time, it benefits those that do not. According to the new law the credit card companies are required to give 45 days notice when they are increasing the rates or you have the option of canceling. I got a letter a few months back stating my Disney rate went up. It doesn't matter, because I will never use it for anything I can't pay off in 6 months interest free.:thumbsup2

[disneyfan55]

There is a simple way to not ever pay interest using a Disney Card. Only pay for things Disney and pay it off in 6months, and don't use that card to buy anything else. I have had mine for three years now and have never paid a dime in interest. Also I have had nearly $100 place on my rewards card that I have used. So basically I have been paid to have a Disney Visa. Also I have seen talk about Obama changing things regarding the Credit Card industry. Well that has already taken place. The morning we heard about the law passing, that afternoon my wife got a letter from Chase on her ONLY credit card that stated her fixed interest rate of 10.49% will be changing on her July statement to around 15something% and is now adjustable. Needless to say we paid off the balance and canceled that card the next day. The new credit card laws will not benefit people who pay their bill on time, it benefits those that do not. According to the new law the credit card companies are required to give 45 days notice when they are increasing the rates or you have the option of canceling. I got a letter a few months back stating my Disney rate went up. It doesn't matter, because I will never use it for anything I can't pay off in 6 months interest free.:thumbsup2

We pay in full (except zero promo) as well and have never paid any interest. I guess I can look forward to a letter like you received!! Oh well, I will continue to just use for zero and pay the rest in full like always. It's a shame on how these laws end up starting out to help but really don't.

[singnring]

it's a shame on how these laws end up starting out to help but really don't.

amen!!!