Paying with Disney VISA - 6 mo interest free?

[MassDisLovers]

Can a cruise be paid only with a NEW Disney VISA to get the 6 month with no interest deal? Or can you use an existing account and still get the 6 mo. w/o interest on the trip?

 

[mickeyfan1]

ANy Disney VISA. Old or new, they just advert that to get people to sign up.

It is not NO PAYMENT, no interest, it is just no interest. It is good for deposits and payments.

 

[MassDisLovers]

thanks!

 

[ljcrochet]

Also any credits to the account will first go to the 0% interest.

 

[degrapevine]

Also any credits to the account will first go to the 0% interest.

I'm pretty sure this is not the case. I have several 0% interest lines on my Disney Visa (deposits, final payment, and an upgrade charge) and each month, I subtract those amounts from my new balance and just pay the other charges.

Chase hasn't charged me interest yet on the remaining balance (in over 3 years). My payment first goes toward my regular monthly charges, then any extra goes toward my 0% interest lines, from the one with the most current expiring date to the latest.

Hope that helps!
Rose

 

[MassDisLovers]

I'm pretty sure this is not the case. I have several 0% interest lines on my Disney Visa (deposits, final payment, and an upgrade charge) and each month, I subtract those amounts from my new balance and just pay the other charges.

Chase hasn't charged me interest yet on the remaining balance (in over 3 years). My payment first goes toward my regular monthly charges, then any extra goes toward my 0% interest lines, from the one with the most current expiring date to the latest.

Hope that helps!
Rose

That sounds better! We are thinking about treating my sister and her 2 girls to join us on the cruise, and if we do it, we will NEED that time to pay it off (they have been through a VERY rough time lately). I will have to call Chase before I do it to confirm, but I hope you're right! thanks so much

 

[brucechase]

Also any credits to the account will first go to the 0% interest.

This is definately wrong information. Payments and credits apply first to the regular balance then to the 0%.

I'm pretty sure this is not the case. I have several 0% interest lines on my Disney Visa (deposits, final payment, and an upgrade charge) and each month, I subtract those amounts from my new balance and just pay the other charges.

Chase hasn't charged me interest yet on the remaining balance (in over 3 years). My payment first goes toward my regular monthly charges, then any extra goes toward my 0% interest lines, from the one with the most current expiring date to the latest.

Hope that helps!
Rose

You are correct, but be very careful of how you charge and subtract. On a Disney Visa, you will get 6 months no interest and payments apply first to your regular balance then to you 0% balance.

There is a situation in which you can pay off the 0% balance before your other balance. If you have a small interest balance - A and a 0% balance - B and you charge a large amount and then pay a large amount ALL before the bill, the payment is calculated a little different. Disney Visa takes your balance then subtracts all payments then adds all charges. If you payment is larger than A, it will subtract from you 0% part.

This just happened to me a couple of months ago. I had $100 in regular interest balance and $1800 for my 0% Disney cruise. I charged $2000 at the beginning of the month then made a $500 payment 2 weeks later - all in one bill cycle. When I got my bill, I paid off my original $100 and $400 of my 0% interest (leaving only $1400 at 0%). I spent hours on the phone with Chase on this and it is in their terms and conditions. The best way to prevent this is to NOT make a large payment in a bill cycle.

 

[ljcrochet]

This is definately wrong information. Payments and credits apply first to the regular balance then to the 0%.

What I meant was if you return anything that credit will be deducted from the 0% percent.
THe only balance on my Disney Visa was my cruise deposit and the new stuff I had charged. I returned about $50 worth of stuff, so instead of my next bill having the $50 off the new stuff, it was off the deposit so instead of the $250 0% amount left, I now have $195.22.. The second deposit of $375 is still all 0%.

It might work differently if you have a balance that you carry month to month though.

 

[brucechase]

What I meant was if you return anything that credit will be deducted from the 0% percent.
THe only balance on my Disney Visa was my cruise deposit and the new stuff I had charged. I returned about $50 worth of stuff, so instead of my next bill having the $50 off the new stuff, it was off the deposit so instead of the $250 0% amount left, I now have $195.22.. The second deposit of $375 is still all 0%.

It might work differently if you have a balance that you carry month to month though.

Please reread my post. It covers exactly what happened to you. I just wanted to make sure that everyone did not think that any credits go to the 0%. If you had a balance on the card in addition to the 0%, then it would have paid that off first. Chase takes your balance - subtracts any payments - then adds charges. If you start with only a 0% balance, then any payment (credit) will apply to that first.

 

["Got Disney"]

Have had my Disney Rewards card for a long time. I use it for everything but carry no balance.... I pay it all off by transfering the money I would have used for Bills and Groceries and such from my checking to the account before the amount is due. This way I have the money saved and have no interest and reap the rewards.

I just put our cruise Deposit on the card....the $3,000 deposit I have 6 months to pay at 0%.... any other balance I have to pay monthly. I will be paying it off today because the money has already been saved for it.

I will also put the whole cruise on it, but will have saved all the money ahead of time...so i will transfere it than a couple days after it clears,transfer the funds from my savings/checking account to the card....get lots of points that way Also at that time will transfer my ressie to DL for the OBC.

Need to get all the points we can so to use for all the excursions and such. Why pay for them(excursions and such) when you can just throw everything on the card...even your monthly Bills, transfer the funds over that you have saved for your bills ....and get the points. But be sure you transfer or the money you are trying to get from your points will only be eaten up in interest payments.

Again we use if for everything...and I mean everything. Wish we could use it to pay our Mortgage...that would really add on the points

We have at this point after using a lot for our 2 DL trips this summer....925 points (before I check the balance on Nov 4th)and wont be cruising again til 2011....we will use some next summer at DL....but will still have saved lots....

Have fun and get those reward points....it is fun to watch them grow! It's like free money (as long as you dont run a balance... and except for the 6 months 0% deal)

 

[brucechase]

There are a couple of point to know about this.

Everyone must realize that the points do expire after 5 years. If you haven't put them on a reward card by then (and that has to be used by Dec of the next year) then they are gone.

Second point is Chase only gives 1% back on these cards. There are a few cards that give 3% and 5% back on purchases. You can just take that money and throw it into an account and have 3 to 5 time more money for your cruise.

Either way, this is a good perk for us Disney geeks.

 

[addicted_to_WDW]

Second point is Chase only gives 1% back on these cards. There are a few cards that give 3% and 5% back on purchases. You can just take that money and throw it into an account and have 3 to 5 time more money for your cruise.

The 1% is paltry. I have a Chase Disney. We don't use it a heck of a lot...Disney trips and a couple of hundred bucks a month. I never have all that many points, usually just enough to cover a day of meals or so. I do love my Mickey Mouse card though.

I use Penfed Cash Rewards for gas (5%) and groceries/drug stores (2%). Everything else is 1.25% and all is credited to the card each month.

My main travel rewards card is Amex Blue Sky...it's just 1.25% but the rewards can go to any type of travel expense...air/hotel/car/cruise.