Disney VISA Free 6 Months for Package

[eeyoreland]

I have a question about the 6 months free financing for a Disney vacation package when using the Disney VISA. How does this work? I use my VISA for almost everything and pay it off each month. If I put my vacation package on the VISA and continue to use it as I have, then pay everything off each month EXCEPT the vacation package, will I be charged interest because I didn't pay it off in full? Or do they separate the vacation package from everything else. Hopefully my question makes sense.

 

[Disneycouple99]

I have a question about the 6 months free financing for a Disney vacation package when using the Disney VISA. How does this work? I use my VISA for almost everything and pay it off each month. If I put my vacation package on the VISA and continue to use it as I have, then pay everything off each month EXCEPT the vacation package, will I be charged interest because I didn't pay it off in full? Or do they separate the vacation package from everything else. Hopefully my question makes sense.

No intrest will be charged. Payment will first go to anything that will cause an intrest charge if not paid that month. Then they will apply any extra to the promo rates.

 

[WeLuvTink!]

The Disney package charges will remain interest free for 6 months, regardless of other charges and payments on the card. Every year we charge the full amount to our Disney Visa then pay 1/6 of that amount each month until paid off. No interest charges and it makes it easier to pay off a bit at a time.

 

[Bearybear]

When we used our Disney Visa 2 years ago for our trip, they applied all payments first to the vacation balance then to the other purchases. We ended up getting interest charges that first month, because we didn't pay it off in full (as we left off most of the cost of the vacation from our payment). So I'd call to double check with Chase before assuming that you won't get hit with interest charges.

 

[Ted C]

Read the fine print closely. Don't be late. If possible it's best to ONLY put the trip on the card. That way you can divide it up evenly and make the payments each month. It gets more complicated if you're using for daily bills. It only applies to a package deal not ala carte room bookings. It does apply to the cruises.

It's a good deal when used properly

 

[snowcupid]

To make it easier for us, we just put the trip on it. I was afraid I would keep using it and then rack up more debt than I needed.

 

[Ted C]

Yea the problem is if you don't pay the right amounts you can actually default and lose the promotion and have to pay interest. I've heard of some horror stories with this happening. It's a lot easier to just put the applicable trip only on the card and pay that way. The promo balances and due dates are figured for you on the second page of the monthly statement. There are other great benefits to having the card in addition to the 6-month program too.

 

[mousefan5]

I think you need to pay more than just the balance minus the trip. I think it is the balance plus the minimum payment. Just to be totally sure I would call and you can make your payment over the phone or get the correct payment by calling before paying.

 

[pmaurer74]

I have done this four times. You need to pay off what you charge each month then anything after that is applied to the trip balance. It does get tricky but I go by the new purchase amount to know how much I need to pay every month.

 

[eeyoreland]

I think you need to pay more than just the balance minus the trip. I think it is the balance plus the minimum payment. Just to be totally sure I would call and you can make your payment over the phone or get the correct payment by calling before paying.

Thanks everyone. I did call to be on the safe side and YOU "mousefan5" are correct. You have to pay the current month's charges PLUS the amount listed as the minimum payment and then you are free and clear for six months. Since I wasn't planning on doing a package, thinking I had a little more time to pay for the trip, but AM doing a package now, the 6 months will definitely help with the money shuffle.

 

[siskaren]

Thanks everyone. I did call to be on the safe side and YOU "mousefan5" are correct. You have to pay the current month's charges PLUS the amount listed as the minimum payment and then you are free and clear for six months. Since I wasn't planning on doing a package, thinking I had a little more time to pay for the trip, but AM doing a package now, the 6 months will definitely help with the money shuffle.

Well, then either they've changed the rules or the person you spoke to misunderstood your question, because I found one of my statements from 2010 online that shows that I paid only the non-trip balance of my bill that month and did not get charged any interest on the trip balance. And to be honest, it doesn't make any sense to me that they would call it 0% interest for 6 months, but then say you have to make a minimum payment to your trip balance each month to keep the 0%.

 

[mjp12831]

I realize this is an offered "benefit", but its just not a good idea. It is just a ploy to get you to run up a balance. Disney is already very flexible in letting you book a trip with only 200 down and you don't need to pay it off until 45 days.

Credit card debt is a killer

Instead of charging figure out how long it takes to save,and plan your trip 45 days after that

Then if you get in a pinch you can always use the Disney cc as a fallback, just be careful not to use that as an excuse not to save

 

[Maggie'sMom]

No intrest will be charged. Payment will first go to anything that will cause an intrest charge if not paid that month. Then they will apply any extra to the promo rates.

This is correct.

When we used our Disney Visa 2 years ago for our trip, they applied all payments first to the vacation balance then to the other purchases. We ended up getting interest charges that first month, because we didn't pay it off in full (as we left off most of the cost of the vacation from our payment). So I'd call to double check with Chase before assuming that you won't get hit with interest charges.

No. This is incorrect. When you make your montly payment, the amount you pay first goes towards paying off the non-vacation balance. Anything above the amount of your non-vacation charges then reduces your vacation balance. One thing that can be applied to your vacation balance first is if you make a purchase and then return the item. Those credits reduce your vacation balance first.

I think you need to pay more than just the balance minus the trip. I think it is the balance plus the minimum payment. Just to be totally sure I would call and you can make your payment over the phone or get the correct payment by calling before paying.

Nope. You only have to pay your balance minus the trip.

I've had my Disney Visa for over 6 years. I've used the 0% for 4 trips. I am a person who pays off my credit card balances each month. Every time I have charged a Disney vacation package to my Disney Visa to use the 0% promotion, I have never had to pay interest charges. Some months I paid exactly the balance less the trip charges. Some months I paid a little extra. My payments always reduced my non-trip charges first and I never accrued any interest.

 

[eeyoreland]

Well, then either they've changed the rules or the person you spoke to misunderstood your question, because I found one of my statements from 2010 online that shows that I paid only the non-trip balance of my bill that month and did not get charged any interest on the trip balance. And to be honest, it doesn't make any sense to me that they would call it 0% interest for 6 months, but then say you have to make a minimum payment to your trip balance each month to keep the 0%.

I think something has changed. He told me that federal laws now require a minimum payment be paid. Free financing can be offered, but a minimum payment has to be made every month. I do recall this being mentioned in the news a while back. And I know that has been the case with any other purchases we've made via free financing.

I realize this is an offered "benefit", but its just not a good idea. It is just a ploy to get you to run up a balance. Disney is already very flexible in letting you book a trip with only 200 down and you don't need to pay it off until 45 days.

Credit card debt is a killer

Instead of charging figure out how long it takes to save,and plan your trip 45 days after that

Then if you get in a pinch you can always use the Disney cc as a fallback, just be careful not to use that as an excuse not to save

I don't want to sound defensive, but I have a very good credit rating. I pay off my bills every month, and I do take advantage of free financing pretty much any time its offered for a larger purchase. Why not? I would rather keep the money in the bank longer.

 

[Pat329]

I just paid my 6 month final payment for our trip this month. I use my visa for everything when I know we're planning a trip just to get as many reward points as possible. I pay all non-vacation purchases in full each month and whatever extra that I want to pay on the vacation purchases. Looking at my statement there's a section called "QUALIFYING PROMOTIONAL FINANCING" that shows your vacation purchase with the remaining balance and the final date you have to pay it off. I think those people that had trouble didn't pay there other purchases in full and therefore had interest on those charges and not the vacation charges.

 

[siskaren]

I think something has changed. He told me that federal laws now require a minimum payment be paid. Free financing can be offered, but a minimum payment has to be made every month.

I'm wondering if he was thinking of the minimum payment that you have to make in order to get the 0% financing, which is $101. What I mean is, if you're making monthly payments on your trip (or however often you want), you can get the 0% financing on each payment, but each payment has to be at least $101. (I found this out only after making a $100 monthly payment once, and then noticing on my next statement that that payment wasn't listed as having the 0% financing.)

 

[Maggie'sMom]

I'm wondering if he was thinking of the minimum payment that you have to make in order to get the 0% financing, which is $101. What I mean is, if you're making monthly payments on your trip (or however often you want), you can get the 0% financing on each payment, but each payment has to be at least $101. (I found this out only after making a $100 monthly payment once, and then noticing on my next statement that that payment wasn't listed as having the 0% financing.)

Minimum payment varies according to your statement balance. I've had a minimum less than $101 even if I have a vacation balance. But I think you are correct. If you are making more than the minimum payments by paying off the non-vacation balance (assuming you have something on your card besides your vacation), then you don't need to pay off anything on your vacation balance.

 

[siskaren]

Minimum payment varies according to your statement balance. I've had a minimum less than $101 even if I have a vacation balance. But I think you are correct. If you are making more than the minimum payments by paying off the non-vacation balance (assuming you have something on your card besides your vacation), then you don't need to pay off anything on your vacation balance.

I'm actually talking about payments you make to your trip, not payments you make to your card. Say I was booking a trip for 12 months from now with a total cost for the package of $1500. I would have to make a down payment of $200, but instead of waiting until I'm 45 days out from my arrival date to pay off the remaining balance, what I could do instead is make 10 monthly payments of $130 each, and I would then get the 6 months 0% financing on each of the 11 payments.