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Old 01-15-2013, 10:29 AM   #16
carmie3377
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Just an update: As previously stated, I had a new Disney Qualifying Promotion charge on my last statement. When my last statement arrived, I ONLY paid new charges and NOT in addition to the minimum payment. Didn't pay a dime of my Disney Qualifying Promotion. I was NOT charged interest, just like the lady on the phone stated. So, it looks like that if you pay in full each month (other than the Disney Qualifying Promotion) and you do not have other promo transfers on the account, you should not have to pay the min payment in addition to new charges.

ETA: But remember, any returns/refunds posted on the account will be subtracted from the Disney Qualifying Promotion Balance. So if you intend to only pay new purchases, please keep an eye on the Disney Qualifying Promotion Balance. I remember a couple years ago when I had an even balance as a Disney Qualifying Promotion. I almost just subtracted that amount w/o looking at it on my statement. Took a glance at it and noticed the amount had decreased due to refunds.
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Old 01-15-2013, 12:15 PM   #17
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I have a disney card that we never use, except a small purchase about every 6 months to keep it active. I plan to charge my cruise balance on this card. There will be no other purchases on it. So am I understanding that I will not be required to make minimum payments or I have to make minimum payments to get the 6 mos 0% financing?
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Old 01-15-2013, 12:26 PM   #18
carmie3377
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Quote:
Originally Posted by runwad
I have a disney card that we never use, except a small purchase about every 6 months to keep it active. I plan to charge my cruise balance on this card. There will be no other purchases on it. So am I understanding that I will not be required to make minimum payments or I have to make minimum payments to get the 6 mos 0% financing?
I have reoccurring monthly charges on mine so there is always something else on there that I pay off. In that case, i just pay off those charges and no min payment. But w/o having any other charges, I can't say for certain. You could wait for the first statement to find out for certain. Sorry I don't have a definite answer

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Old 01-15-2013, 12:39 PM   #19
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Quote:
Originally Posted by carmie3377 View Post
Just an update: As previously stated, I had a new Disney Qualifying Promotion charge on my last statement. When my last statement arrived, I ONLY paid new charges and NOT in addition to the minimum payment.
Thanks for the update!

Was the new charge balance higher than the minimum payment? I don't know how they calculate the min payment amount...
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Old 01-15-2013, 01:07 PM   #20
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If you pay in full every month, you need to deduct the 'BALANCE' of the qualified transaction. Note that this can be lower that the original transaction, as any credits that post to your account will lower that balance.

Say you charge a 3000 vacation. You make other purchases of say 1000, but do a return of say 100. The 100 will be deducted from the 3000, so your qualified balance will then be 2900. Your statement balance would be 3900. If you pay 900, you'll incur interest. If you look closely, you'll see your 'qualifying transaction balance' is not 3000, but 2900. You must pay 1000 or you'll be hit with interest.

Hope this example helps.

Now, if you start with a ZERO balance and ONLY charge your vacation, this will be at zero percent for 6 months and technically you should not pay anything, however, due to the new credit card laws, you would still have to pay the minimum balance. I never have this issue as its my primary card, therefore there's always additional purchases and credits. Currently I have the balance of last summer's DCL trip, the deposit of DCL 2014 dummy, and next month's DCL trip
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Old 01-15-2013, 03:37 PM   #21
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Quote:
Originally Posted by su_A_ve View Post
If you pay in full every month, you need to deduct the 'BALANCE' of the qualified transaction. Note that this can be lower that the original transaction, as any credits that post to your account will lower that balance.

Say you charge a 3000 vacation. You make other purchases of say 1000, but do a return of say 100. The 100 will be deducted from the 3000, so your qualified balance will then be 2900. Your statement balance would be 3900. If you pay 900, you'll incur interest. If you look closely, you'll see your 'qualifying transaction balance' is not 3000, but 2900. You must pay 1000 or you'll be hit with interest.

Hope this example helps.

Now, if you start with a ZERO balance and ONLY charge your vacation, this will be at zero percent for 6 months and technically you should not pay anything, however, due to the new credit card laws, you would still have to pay the minimum balance. I never have this issue as its my primary card, therefore there's always additional purchases and credits. Currently I have the balance of last summer's DCL trip, the deposit of DCL 2014 dummy, and next month's DCL trip
Thanks this is what I wanted to know.
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