6 mo. free financing on Disney Visa?

[DizGeek]

I put my deposit down on our vacation using my Disney Visa. I keep seeing these ads about 6 months of 0% financing on a Disney vacation...do I qualify or is that for new cardmembers?

 

[Tam1067]

You should get it. If you book a package (that must include room and tickets), you're eligible for the 0% financing. It's not just for new customers.

 

[DizGeek]

Great! Thanks for the info...So its an everyday thing?

 

[Princess Amy]

That's correct...whether you make a vacation now or a year from now you will qualify for the 0% financing.

 

[missycj96]

This is an important tip: If you want to pay over the 6 months at no interest or wait 6 months to take advantage of the benefit, do not use the card for any additional purchases! Your other charges will accrue at regular interest rates. Any payment that you make will be applied to the 0% purchases first. So if you use the card for something other than your Disney vacation, during the 6 month free period, it will become impossible to get the benefit of waiting to pay without ending up paying interest charges on your other purchases. I learned this the hard way and ended up on the phone with the Visa company. I paid the whole thing earlier than I had planned to avoid interest, but I felt it was unfair.

Here's an example:

1. Let's say on June 1 you charge a $400 disney deposit which has the 6 months 0% benefit.

2. Then on June 15, you then charge $100 on something else (which I did figuring it would be good to accrue the Disney points for my upcoming trip).

When you pay your bill on say July 1, you then make a $100 payment figuring that you have another 5 months left of 0% financing for the Disney vacation. They will apply your $100 payment to the deposit, the rest of your Disney charge will not accrue interest but your other $100 purchase will accrue interest. There is no way to pay that $100 charge to avoid interest unless you pay the Disney charge in full.

I want others to be aware of this. If you use the Disney Visa card to get the 6 months free financing make sure it is paid off first and then you don't use it for anything else. If you do it right, its a great benefit.

 

[CarolA]

I am not sure what has happened to missy

I pay my Disney Visa in full every month PLUS some "extra" for the DVC that I have on there usiing the 6 months free.

So far (about three months) I have not been charged any interest. (I just checked the last bill and no interest charges were accured for anything)

Now I had this problem with Home Depot and I called them and they "fixed" it for me (I had to call every month LOL so I never used the charge for anything else. I had only gotten to finance the new floors in my house for "free")

 

[Tam1067]

I'm also not sure what happened to Missy on this because I gradually paid off the Disney 0% amount while paying in full the additional charges I made over six months and never had any finance charges. The directions on the Visa itself (the statement) said to avoid any finance charges, be sure to pay in full the entire amount of new charges--there were specific instructions for how to determine that.

The 0% financing section is an entirely different part of the statement from new purchases.

I paid the $200 deposit on my July trip way back in January. Since then, $200 has been showing up on my 0% financing line every single month--and again, no finance charges whatsoever.

 

[Zippa D Doodah]

I am another who pays gradually on the 6-month portion of the Visa. I pay all my balance each month plus a little of the vacation. The statement always categorizes the vacation separately.

 

[missycj96]

I'm glad this worked for everyone else. I wonder if anyone else had my experience. I just leave the card so that only use it for my vacation now. But I would rather be able to use it so I can get points. Very interesting.

 

[xbatman]

I'm glad this worked for everyone else. I wonder if anyone else had my experience. I just leave the card so that only use it for my vacation now. But I would rather be able to use it so I can get points. Very interesting.

Did you make your reservation directly with WDW or with a travel agent? Do you only get the 0% financing if you go directly through Disney? We could pay ours all off, of course, keeping the $ in our hands for 6 more months would be better.

 

[Tam1067]

I got 0% financing and I booked through an AAA agent. Disney comes up on the charge itself, but the travel agent put it through.

 

[SmoothSailing]

I used the card for a 6 month no interest no payment deposit on a cruise for Disney Cruise Line. I too pay my entire balance monthly. I began to get finance charges due to the promotion because although I subtracted the deposit amount from my total amount due each month. "That's not how it's figured." by Chase.

I later cancelled my card because although they reversed one month of charges, it showed up again the next month. Be careful. I wouldn't charge anything else.

 

[CarolA]

I compute my payment by paying all "new charges" this month plus the amount I am putting on my DVC. So far so good. (I always ignore whatever the CC companies tell you in the "due amounts" All of them work that game to try to get you to pay interest!)

 

[swilphil]

I make lots of additional charges besides the cruise I put on Disney Visa. The statement shows the promotional amount separately, so I just subtract that from my total and make sure I pay all the other charges in full. I have paid more a few times. I think they may require a little bit of a minimum payment.

 

[missycj96]

Hi all, sorry to cause this as it looks like from everyone else's experiences, It may not be as I thought. Here's what happened to me as best as I can recall (it was a few years ago). I charged my vacation deposit and then other purchases. Then I read on these boards pretty much what I said - that you can only get the zero percent financing if you don't charge anything else. I couldn't believe it, so I called Visa. The rep that I spoke with confirmed what I had read on the boards and told me that it was true and that any payment would go to the lowest interest rate. I was furious and told them so. But since I didn't want interest, I paid all I had on my card. I really felt like if this was the case, how could they advertise the 6 months free and it sounded unbelievable to me. My DH said that this is the way credit cards make money, and what should we expect. From what I am hearing though, I wonder if the rep that I spoke to that time was the one that was wrong. Well anyway, I was just trying to help but it seems like others have had better experiences, which makes me happy because it is much more fair than I thought.

 

[HLAuburn]

In "normal" cases, like if you had certain purchases at a promotional APR, any payments will go towards the lowest APR balance first, then to the higher APR purchases. HOWEVER, this does not apply to Disney vacation packages at the 0% APR for 6 months.

Unfortunately, some Disney Visa representatives assume that all payments will go towards the lowest APR balance first, and since that would be the 0%, they misinform people.

I have charged 3 vacations on the Disney Visa, and it's worked out fine everytime.

 

[Joan1]

This is an important tip: If you want to pay over the 6 months at no interest or wait 6 months to take advantage of the benefit, do not use the card for any additional purchases! Your other charges will accrue at regular interest rates. Any payment that you make will be applied to the 0% purchases first. So if you use the card for something other than your Disney vacation, during the 6 month free period, it will become impossible to get the benefit of waiting to pay without ending up paying interest charges on your other purchases. I learned this the hard way and ended up on the phone with the Visa company. I paid the whole thing earlier than I had planned to avoid interest, but I felt it was unfair.

Here's an example:

1. Let's say on June 1 you charge a $400 disney deposit which has the 6 months 0% benefit.

2. Then on June 15, you then charge $100 on something else (which I did figuring it would be good to accrue the Disney points for my upcoming trip).

When you pay your bill on say July 1, you then make a $100 payment figuring that you have another 5 months left of 0% financing for the Disney vacation. They will apply your $100 payment to the deposit, the rest of your Disney charge will not accrue interest but your other $100 purchase will accrue interest. There is no way to pay that $100 charge to avoid interest unless you pay the Disney charge in full.

I want others to be aware of this. If you use the Disney Visa card to get the 6 months free financing make sure it is paid off first and then you don't use it for anything else. If you do it right, its a great benefit.

What is wrong with this example is that if you only paid $100 towars your new charge in and payed it in full but you didn't make any payment towards your $400 for the Disney vacation. The rules are that it is 0% interest over 6 months NOT NO payments over 6 months. You still have to make your minimum payment for the Disney vacation portion.

I have a feeling that some people think it is NO payments NO interest for 6 months where in fact it is NO INTEREST FOR 6 MONTHS. You still have to make a payment each month you just don't accrue any interest as long as you may the montly payment on the vacation portion

 

[NYDisGuy]

Does anyone know if you put the deposit for the package on another card, and the disney vacation package on the Disney Visa, if you still get the 0% or does it need to be the deposit+the total leftover amount on the disney visa for the promotion? I just ordered the card and its not really explained.

 

[auntie]

What is wrong with this example is that if you only paid $100 towars your new charge in and payed it in full but you didn't make any payment towards your $400 for the Disney vacation. The rules are that it is 0% interest over 6 months NOT NO payments over 6 months. You still have to make your minimum payment for the Disney vacation portion.

I have a feeling that some people think it is NO payments NO interest for 6 months where in fact it is NO INTEREST FOR 6 MONTHS. You still have to make a payment each month you just don't accrue any interest as long as you may the montly payment on the vacation portion

I am assuming that's what I'm looking at today. I received my bill..and I did have a balance ...because I was hoping to use the points for vacation. $1200.00 balance at the regular interest rate..and the Disney trip is listed seperately as a promo at 0%. However..it's also two rooms at the WL(my son gave the money for his)...and it's almost $6,000 between the trip for two rooms. I am assuming from my minimim due of about $150.00 that this is because of the Disney portion of the bill. While it said no interest on that portion..it doesn't say you don't have to make minimum payments on the total bill. I think I'll be paying my bill in full today. I think to make this really work, it would be best not to use the card for anything elese if you are using it to get the 0% 6 mos interest free.

 

[PamNC]

Can you only get teh 0% for 6 months on a package??? What about room only?

PamNC