Disney Visa Cruise Payment Gripe

[AlexandNessa]

I think it's time to cancel my account. This is just ridiculous.

I owed $3K on our WBTA. That promotional APR expires next month.

Before we sailed, I added $1500 in an OBC for that cruise. That ends in February 2011. I smugly did this thinking that I would actually have until February to pay this.

Then on the ship, I made a $250 future cruise deposit on the DV. That expires in March 2011.

While we were away, I scheduled a payment of $2000 for 10/1. That wiped out the $1500 OBC and applied only $500 to my balance of the WBTA cruise.

So, I owe $2500 on the WBTA and $250 in a new cruise deposit now.

In order to not pay any interest, I need to pay $2750. Because if I made a payment of $2500, Chase would apply it first to the $250 deposit (even though that expires in March), and leave me the remaining balance on the WBTA, even though that expires in November.

Regardless of when your promotional APRs expire, Chase now applies your payment to the promotion with the lowest balance. And it's not based on when the APR expires, it's based on the date of your last statement.

No amount of calm reason or number of phone calls would get that change that.

It was really a too bad, so sad attitude from Chase.

 

[MTmomma]

Frankly, it is thier right to apply payments how they have laid out in thier terms of use agreement, wich you agreed to. Legally they have to send a notice any time they change their pilicies. Unfortunatly for you, you used implied consent just by using your card. It is a credit card. You are using THEIR money, and frankly, they have a right to receive compensation for you using THEIR money. I feel zero sympathy for this, as you have two options. Pay it off now, and close the account, thereby incuring no interest on the account, OR pay off part now, and pay interest to the credit card company. You are well within your rights to pay off the card and close the account, and seek credit services from a different vendor.

 

[cruisecastle]

I think it's time to cancel my account. This is just ridiculous.

I owed $3K on our WBTA. That promotional APR expires next month.

Before we sailed, I added $1500 in an OBC for that cruise. That ends in February 2011. I smugly did this thinking that I would actually have until February to pay this.

Then on the ship, I made a $250 future cruise deposit on the DV. That expires in March 2011.

While we were away, I scheduled a payment of $2000 for 10/1. That wiped out the $1500 OBC and applied only $500 to my balance of the WBTA cruise.

So, I owe $2500 on the WBTA and $250 in a new cruise deposit now.

In order to not pay any interest, I need to pay $2750. Because if I made a payment of $2500, Chase would apply it first to the $250 deposit (even though that expires in March), and leave me the remaining balance on the WBTA, even though that expires in November.

Regardless of when your promotional APRs expire, Chase now applies your payment to the promotion with the lowest balance. And it's not based on when the APR expires, it's based on the date of your last statement.

No amount of calm reason or number of phone calls would get that change that.

It was really a too bad, so sad attitude from Chase.

LOL, that's the law. Thank Congress. They mandated payments be made this way under the new law that went into affect this summer.

 

[AlexandNessa]

Frankly, it is thier right to apply payments how they have laid out in thier terms of use agreement, wich you agreed to. Legally they have to send a notice any time they change their pilicies. Unfortunatly for you, you used implied consent just by using your card. It is a credit card. You are using THEIR money, and frankly, they have a right to receive compensation for you using THEIR money. I feel zero sympathy for this, as you have two options. Pay it off now, and close the account, thereby incuring no interest on the account, OR pay off part now, and pay interest to the credit card company. You are well within your rights to pay off the card and close the account, and seek credit services from a different vendor.

Ouch.

Yes, you are right. This is a gripe on a message board, but I just feel like a Nun in Catholic school slapped my hand with a ruler. Really?

It's just disappointing that 0% APR on Disney Purchases for 6 months has a big, fat giant asterisk next to it. I used to enjoy it, but now that they've changed the terms, I'm done with it.

 

[gzmtlock]

I think it's time to cancel my account. This is just ridiculous.

I owed $3K on our WBTA. That promotional APR expires next month.

Before we sailed, I added $1500 in an OBC for that cruise. That ends in February 2011. I smugly did this thinking that I would actually have until February to pay this.

Then on the ship, I made a $250 future cruise deposit on the DV. That expires in March 2011.

While we were away, I scheduled a payment of $2000 for 10/1. That wiped out the $1500 OBC and applied only $500 to my balance of the WBTA cruise.

So, I owe $2500 on the WBTA and $250 in a new cruise deposit now.

In order to not pay any interest, I need to pay $2750. Because if I made a payment of $2500, Chase would apply it first to the $250 deposit (even though that expires in March), and leave me the remaining balance on the WBTA, even though that expires in November.

Regardless of when your promotional APRs expire, Chase now applies your payment to the promotion with the lowest balance. And it's not based on when the APR expires, it's based on the date of your last statement.

No amount of calm reason or number of phone calls would get that change that.

It was really a too bad, so sad attitude from Chase.

I wonder when they changed which they pay off first? As recently as two months ago, I made a large payment - it was applied to my oldest balance/soonest to expire charge, leaving two smaller charges with later expiration dates still due. With your info, I'll certainly call before making any more large charges! (And I don't recall getting any notification that their procedures were going to change, but I'm not always the first one to get to the mail, either.)

Also, with your OBC "pre-payment" - I don't think the 0% for 6 months applies to that. All of my on board charges have always been due immediately (or carry the balance and get interest charged). That's been true for me for 5 cruises over the past years.

I agree that their new policies, as you've explained them, leave a lot to be desired. As a consumer, I'll move to a more lucrative card, if this applies to my account! Let Chase make their money off someone else!

 

[AlexandNessa]

LOL, that's the law. Thank Congress. They mandated payments be made this way under the new law that went into affect this summer.

Oh, I know ... by law they are supposed to apply payments to higher interest charges first, right? but the Chase rep acted like she was doing me a favor because Chase "allows you to pay purchases first before promotional APRs."

What is that saying, "I'm with the Government, and I'm here to help."

 

[gzmtlock]

LOL, that's the law. Thank Congress. They mandated payments be made this way under the new law that went into affect this summer.

Dang, are you serious?!? I sure missed that one! Welll, so much for pre-buying Disney vacations with overlapping billing cycles and paying for them over time. Guess I'll have to start actually saving the money ahead of time.

 

[MTmomma]

Wow! I do apologise, I really did not MEAN to come across as an uptight NUN! Credit cards are a VERY touchy subject for me... I have watched friends ruin their lives over them. So again, I am sorry for sounding mean.

 

[AlexandNessa]

I wonder when they changed which they pay off first? As recently as two months ago, I made a large payment - it was applied to my oldest balance/soonest to expire charge, leaving two smaller charges with later expiration dates still due. With your info, I'll certainly call before making any more large charges! (And I don't recall getting any notification that their procedures were going to change, but I'm not always the first one to get to the mail, either.)

Also, with your OBC "pre-payment" - I don't think the 0% for 6 months applies to that. All of my on board charges have always been due immediately (or carry the balance and get interest charged). That's been true for me for 5 cruises over the past years.I agree that their new policies, as you've explained them, leave a lot to be desired. As a consumer, I'll move to a more lucrative card, if this applies to my account! Let Chase make their money off someone else!

Bolding mine. You are correct if you use your DV as the credit card on file for your OBC, there is no promotional APR associated with that.

However, if you charge your OBC ahead of time (I had my TA do it), that is billed to DCL Reservations, and a promotional APR does apply. Now granted, in my case, a promotional APR didn't apply at all, because it was supposed to expire in February 2011, and I've got it paid off now, lol.

Bottom line to those who weren't aware: they pay off the smallest balances first. It makes no difference when the promotional APR expires.

It used to be that if the promotional APR expired within 6 months, your payment would be applied to that balance first. Not anymore. So if you didn't read the fine print with a magnifying glass, now you know.

 

[dursin]

I cancelled my Disney Visa last year when they tried to raise my interest rate from 10% to 18% for no reason other than they wanted more money. Never paid the thing late in the 5+ years I had it.

 

[carlamouse]

You guys may want to read this thread also:

http://www.disboards.com/showthread.php?t=2572852

This is why my Disney VISA now has a $0 balance. Now I will only use it for one cruise or WDW package at a time---and nothing else.

 

[sayhello]

And if you look, I think you'll notice that your interest rate on your Disney Visa card has jumped quite a bit. That happened back in February. My interest rate almost doubled. So if you do end up paying interest on that vacation charge: Ouch!

The only thing the Disney Visa is good for these days is Rewards Dollars. If that goes away, the card is getting cut into tiny little pieces

Sayhello

 

[Tinkerkell123]

No amount of calm reason or number of phone calls would get that change that.

It was really a too bad, so sad attitude from Chase.

Calm reason? Chase?

 

[AlexandNessa]

Wow! I do apologise, I really did not MEAN to come across as an uptight NUN! Credit cards are a VERY touchy subject for me... I have watched friends ruin their lives over them. So again, I am sorry for sounding mean.

No, I'm sorry. You were absolutely right in everything you said.

Bygones.

It just seems shady to me to advertise 6 months free financing, but only if you have one charge every 6 months, lol. Fortunately, I do have the $$ to pay it off. I just didn't want to!

 

[AlexandNessa]

Calm reason? Chase?

I thought I could catch more flies with honey. What was I thinking?

 

[Conservative Hippie]

It is pretty crummy. They should apply payments to older charges first if they all have the same APR. I do like that they now apply payments to charges with higher APR's first, but that was not always the case. Credit card companies make their money off of interest so of course they are going to figure out a way to get the most interest off of you. We use our DV to make all of our everyday purchases just to get the Reward Dollars, and pay it off in full every months, so I'm sure Chase hates us!

 

[diane648]

First, sorry about this -- I understand why you're upset.

I did read a thread recently that I believe said if your promotional balance was to expire in less than 60 days, that the payment should be applied to that balance first. The person who posted called & they fixed it. Which, is a total pain, but still you might be able to end up where you wanted to be.

Hope that works!

Diane

 

[AlexandNessa]

First, sorry about this -- I understand why you're upset.

I did read a thread recently that I believe said if your promotional balance was to expire in less than 60 days, that the payment should be applied to that balance first. The person who posted called & they fixed it. Which, is a total pain, but still you might be able to end up where you wanted to be.

Hope that works!

Diane

Sadly, that 60-day rule no longer applies! I spoke with 3 different people at Chase (one a manager), and all of them insist that my payment was applied correctly.

They apply to the lowest balance first, regardless of promotion expiration. That's what they said. I am wondering if I owed less on the WBTA than I did on my OBC if they would've paid that off first, or if they would've gone by the newer charge first.

I am totally confused, but I am stuck paying my entire balance if I don't want any interest charges.

This is a pretty big change, so I'd just like to warn others to only keep one promotion at a time if they really need the 6 months free financing.

P.S. When I called them to review the account, this is the generic letter I got:

"Generally, and except as required by law, we will credit payments over the required Minimum Payment to balances with the highest APRs first. We will then credit payments to lower rate balances in descending order of APRs. This may affect the amount of any payment applied to introductory or promotional financing balances.

If a payment is greater than the balance of your last statement, the excess will be applied toward future transactions or refunded to you if no additional charges are made to your account."

Clears everything up, right?!

 

[DW2010]

Wow! I do apologise, I really did not MEAN to come across as an uptight NUN! Credit cards are a VERY touchy subject for me... I have watched friends ruin their lives over them. So again, I am sorry for sounding mean.

You wouldn't think you'd be so defensive over credit cards if your friends have ruined their lives. Or maybe it's that you're trying to sternly educate people about how credit cards can be evil

 

[lmhall2000]

You wouldn't think you'd be so defensive over credit cards if your friends have ruined their lives. Or maybe it's that you're trying to sternly educate people about how credit cards can be evil

I could easily see why poster would be defensive, those said people who have wrecked their credit and even likely filed bankruptcy still ask her for money!

Credit cards are NOT GOOD, I am soo close to putting an 'ever' there but they're the only thing that helped us survive 2 mortgages for 31 months...now that we've FINALLY closed on our other house, we are diligently paying all these suckers down....what I found amazing and underhanded was that most (only Discover did not do this) tried to pre-empt the Congress 'protection' laws by sending letters out to all holders saying your interest rate would be raised by double sometimes triple their amount BEFORE that law went into action.

So 3 of my cards I had for over 20 years and NEVER really NEVER missed a payment took me from 3.9-5.9% up to over 20%....the only way to avoid it was to close the account, so you can bet I closed every single one of them...all my credit cards are below 5.9% interest and I only have 2 open cards at 0 balance. But, if I had not taken the time to read alll the fine print sent in numerous mailings I would be sitting on 7 cards all over 20%! We will be able to pay it all off in 14 months even our car payment, next will be double payments on mortgage...I want to enter a stage in my life where I only have 2 cards with 0 balance for emergencies and no monthly payments besides insurance/electrical/phone....ahhhh...to dream! That's why we take cruises, to take us away from all this madness!

Sadly, I think MANY have filed bankruptcy and the cc companies are trying to recoup their losses through the cardholders that don't file bankruptcy.

Knock this up for lesson learned and be happy you didn't get stung even greater by their 5000 word 'changes to your account' letters!!

Tara