DVC deposit on Disney VISA ??

[chris4disney]

Hello all. As you can read from my signature below we have visited WDW every year for the past 4 years. We have looked into joining DVC for a couple years now and actually rented points to stay at BCV last month to check out the DVC resorts. LOVED IT!! Well... now DH has a good possibility of getting a big promotion at work and possibly a big raise with that promotion. So here we are again discussing joining DVC (if he gets this raise that is) and our different options. Resale vs. direct, number of points, etc... I think we'd probably do resale and look at BCV or BW. But then I saw that as a Disney VISA card holder we can charge up to $2,500 of a DVC membership deposit on our card interest free for 6 months. Is that only if buying direct through Disney or can we do that option if buying a resale too? Are there any other promo's/deal etc out there right now that we should consider?

TIA

 

[BWV Dreamin]

Hello all. As you can read from my signature below we have visited WDW every year for the past 4 years. We have looked into joining DVC for a couple years now and actually rented points to stay at BCV last month to check out the DVC resorts. LOVED IT!! Well... now DH has a good possibility of getting a big promotion at work and possibly a big raise with that promotion. So here we are again discussing joining DVC (if he gets this raise that is) and our different options. Resale vs. direct, number of points, etc... I think we'd probably do resale and look at BCV or BW. But then I saw that as a Disney VISA card holder we can charge up to $2,500 of a DVC membership deposit on our card interest free for 6 months. Is that only if buying direct through Disney or can we do that option if buying a resale too? Are there any other promo's/deal etc out there right now that we should consider?

TIA

This is only thru Disney. I tried to get the 0%/6 mos. for my deposit on a resale....Disney Visa said no. There is a code that gets put in by DVC that allows Disney Visa to see it was vacation club deposit. Even when I faxed over paperwork to show our deposit was for a vacation club resale, they still said no. Same thing with getting the 500 rewards dollars. Has to be don by DVC directly, not a resale. They don't say all this when their touting their promotions.

 

[esulerzy]

chris4disney, I put the entire charge on my Disney Visa (I had the cash in the bank) to get the reward points DVC actually put the charge through (initial 150 point contract) in two transactions...one before the next billing date (immediate) and one after the next billing date. When the bills arrived, I paid them in full It was very easy to do and I got the reward points on the Visa with no problems. Did the same thing when I did an add-on.

One thing I did do was contact Visa first and let them know two large charges were coming through - they seemed to appreciate the heads-up.

 

[mlill]

chris4disney, I put the entire charge on my Disney Visa (I had the cash in the bank) to get the reward points DVC actually put the charge through (initial 150 point contract) in two transactions...one before the next billing date (immediate) and one after the next billing date. When the bills arrived, I paid them in full It was very easy to do and I got the reward points on the Visa with no problems. Did the same thing when I did an add-on.

One thing I did do was contact Visa first and let them know two large charges were coming through - they seemed to appreciate the heads-up.

I'm curious, why was the charge split into two transactions? Is it because of your Visa limit, or is there some other reason? We are planning on charging our whole add-on to our Disney Visa and then paying it off when the bill comes, just like you did...

 

[esulerzy]

mlill, My limit was high enough ($25K) - DVC didn't realize I had contacted Visa and let them know about the high charge coming through so DVC assumed two smaller charges would go through better/faster (?) than one large charge. Didn't matter to me, as I collected interest on the $$ while it sat in the account and got the reward points. When I did my add-on, DVC already had in the system how they had processed the initial contract and just did the same thing.

If you want one transaction, just let DVC know. I would still call Visa and let them know it's coming - that prevents Visa from trying to get in touch with you to verify such a large charge if the amount is unusual for your spending habits.

I have a friend that bought and she had a much smaller limit ($500 or so). DVC charged $500 at a time, she paid it off and then notified DVC so they could process the next charge, etc. until it all got paid. Took longer but she also had the cash and just wanted the reward points. DVC is very flexible when taking your money

 

[dragonflymom]

I didn't even have to ask, but my guide just thought of everything that I could benefit financially. I was going to pay cash (write a personal check) on the day of signing at the DVC office, but my guide told me about the Disney VISA promotion and since I've already been a cardholder for over a year, he split my points into 2 contracts, charged the interest-free-for-6-months $2500 deposit two times (one for each contract), for total of $5000 interest free for 6 months on my Disney VISA.

Instead of taking my check, he said whether I just want to charge the balance to Disney VISA and pay off the balance in the next billing cycle and earn rewards points. I said, sure! Except I used my mileage VISA since the points would get me to the level of 2 free round trip tickets with the mileage balance I already have. Then on top of that, he said he won't actually submit the charge (of the balance) until 30 days from signing even though he already had my credit card number. That, combined with my billing cycle date, actually gave me 2.5 months before I actually have to pay anything out of my bank account!

To top it all off, my 2006 points, my 2007 points as well as the developer points were in the system the following business day. I surprised my family with an impromptu December trip to Anaheim and San Diego (concierge collection) all on developer points the very next day. I believe this is my first time that I pay for a vacation (at least the lodging) way after the vacation is over, interest free!

 

[Mamadis]

I just applied and got a Disney Visa with the intent of purchasing my DVC points with it. The person at the VISA office told me that I could charge the full amount of the DVC purchase on my card and get the 0% APR for the first 6 months that I have the card. After that the APR would be increased. Other places on the DIS board seem to indicate you can only charge up to $2500 or 10% of the purchase price.Does anyone know which is correct?

 

[BWV Dreamin]

I just applied and got a Disney Visa with the intent of purchasing my DVC points with it. The person at the VISA office told me that I could charge the full amount of the DVC purchase on my card and get the 0% APR for the first 6 months that I have the card. After that the APR would be increased. Other places on the DIS board seem to indicate you can only charge up to $2500 or 10% of the purchase price.Does anyone know which is correct?

Last August, the terms were 10% or up to $2500 could be charged for the deposit and had 0% for 6 mos. for the deposit only. I guess you could charge the remaining balance, but I don't think it qualified for the 0% interest/ 6 mos. They could have changed the terms since then.

 

[Mamadis]

Is that a Disney policy or a Chase policy?

 

[BWV Dreamin]

Chase..........

 

[MaryD73]

Last August, the terms were 10% or up to $2500 could be charged for the deposit and had 0% for 6 mos. for the deposit only. I guess you could charge the remaining balance, but I don't think it qualified for the 0% interest/ 6 mos. They could have changed the terms since then.

Mamadis got a new card with a 0% for 6 months APR. So she is set for all charges during that time. If you look around there is a Disney Visa with an introductory rate of 0% for 12 months (I think there is also an 18 months somewhere).

When we bought my DBF already had a Disney Visa so we put the down payment on that to get the $500 + reward points + 6 months 0% APR. Then I quickly opened a card of my own and we put the remainder on that card to get the reward points + 12 months 0% APR.

 

[JsMom2]

I just applied and got a Disney Visa with the intent of purchasing my DVC points with it. The person at the VISA office told me that I could charge the full amount of the DVC purchase on my card and get the 0% APR for the first 6 months that I have the card. After that the APR would be increased. Other places on the DIS board seem to indicate you can only charge up to $2500 or 10% of the purchase price.Does anyone know which is correct?

I purchased 225 points last month and charged the entire amount on the Visa. I then added on 110 points a few weeks later and charged that amount also.

The 6 mos 0% interest expires 6 mos after you start using the card. The 0% interest on the first $2500 of the DVC membership expires 6 mos after the purchase. This will be noted separately on your statement.

I also am new to the Disney Visa, but I love it so far!

Just PM me if you need a referral for the current promotions. As you get a better deal with a referral.

Also, you'll get 500 extra Rewards dollars with your Disney Visa if your contract is entered before Nov 30th.

 

[Mamadis]

Thanks for the clarification. Did you get your VISA card over the summer? Ithought you had to have a card before Sept. to get the $500 of reward points.

 

[BWV Dreamin]

Thanks for the clarification. Did you get your VISA card over the summer? Ithought you had to have a card before Sept. to get the $500 of reward points.

Yes, you are correct. You had to already be a card member as of Sept. to take advantage of that promotion.

 

[alldiz]

What is the minimum amount of points needed to purchase to get the
500 disney visa money?
thanks
kerri

 

[BWV Dreamin]

What is the minimum amount of points needed to purchase to get the
500 disney visa money?
thanks
kerri

I think this promotion ends at the end of November. I am not sure the # of pts., but if you call Disney Visa or your guide, they can tell you. Also, if you get someone on the line that doesn't know what you are talking about, call back until you do. Several of the Visa reps had know idea. You will eventually get someone who does!!

 

[calypso*a*go-go]

You have to buy at least 160 pts. whether it is a new contract or an add-on and the promo ends on 11/30.

 

[chris4disney]

Does anyone know what Disney's current rates are if financing thru them and for how long?

 

[nzdisneymom]

Does anyone know what Disney's current rates are if financing thru them and for how long?

10.75% for 10 years.

 

[chris4disney]

10.75% for 10 years.

Thanks! Do you know if the rate is lower if financing for a shorter term? And is there a closing cost if buying direct through Disney?