Am I Reading This Right?

[kristenrice]

From the Member Website...

"How do I make a payment online?

You may pay your Annual Dues or Loans online with a credit or debit card with a VISA or MasterCard logo. Simply select the Pay Balance link next to the Annual Dues or Loan you would like to pay. On the credit card payment page, you will be prompted to enter your information. Your billing address is the address to which your credit card statements are mailed."

Does this mean that I can pay my monthly loan payment with my Disney Visa? We are in the middle of adding on 50 points (made the deposit 2 weeks ago and still waiting on the paperwork) and I always assumed that it was a directly debited amount from our checking account. Can I have it set up to charge my credit card each month instead? Or is this just for extra payments? Also, what about Disney gift cards? I would love to buy some Disney gift cards each week from my kids' TRIP program and use them to pay down our loan.

Oh, and FWIW, we cannot put the entire amount on our Disney Visa and take advantage of the 6 months at 0%. While we would like to pay the loan off ASAP, I would like to keep our "required" payment as low as possible. With the 10-year financing, our payment will only be about $50/month. I plan on paying an extra $200-250 per month, but I do not want to lock us in to that high of a payment. The $50 is easy to come up with, but there may be a time that $200-$300 would be a stretch so I want to make sure that we are not overstretching our budget.

 

[disneynutz]

To qualify for the lower interest rate on your Disney loan you have to pay monthly with the checking account debit. I don't know if you can pay monthly with plastic if you have a higher interest loan. I do know that you can pay your dues and also pay off your loan with plastic.

Bill

 

[Sandisw]

From the Member Website...

"How do I make a payment online?

You may pay your Annual Dues or Loans online with a credit or debit card with a VISA or MasterCard logo. Simply select the Pay Balance link next to the Annual Dues or Loan you would like to pay. On the credit card payment page, you will be prompted to enter your information. Your billing address is the address to which your credit card statements are mailed."

Does this mean that I can pay my monthly loan payment with my Disney Visa? We are in the middle of adding on 50 points (made the deposit 2 weeks ago and still waiting on the paperwork) and I always assumed that it was a directly debited amount from our checking account. Can I have it set up to charge my credit card each month instead? Or is this just for extra payments? Also, what about Disney gift cards? I would love to buy some Disney gift cards each week from my kids' TRIP program and use them to pay down our loan.

Oh, and FWIW, we cannot put the entire amount on our Disney Visa and take advantage of the 6 months at 0%. While we would like to pay the loan off ASAP, I would like to keep our "required" payment as low as possible. With the 10-year financing, our payment will only be about $50/month. I plan on paying an extra $200-250 per month, but I do not want to lock us in to that high of a payment. The $50 is easy to come up with, but there may be a time that $200-$300 would be a stretch so I want to make sure that we are not overstretching our budget.

Rules about the Visa must have recently changed then. We have boughten all of our contracts (210 points worth) using the Disney Visa and have gotten 6 months, 0% on the entire purchase.

Our last add on, in August, 30 BLT points, was done that way. All $3600 qualified for the 0%. I don't pay it off until April.

 

[jkkldisney]

You can make extra payments for your loan and dues with your credit card online, but the regular monthly payment has to be out of your checking account.

I recently called to see if I could make extra payments to the loan with gift cards and the Disney rewards card. You can pay dues with those cards, but not pay on your loan. Extra payments on your loan can be made with a credit card though.

 

[brrabit]

I've paid principal payments on two disney loans, paid them off, as well as each years fees, online with my credit card. Not a disney visa either.