Any credit card strategy for purchasing add-on?

[Sunnyore]

Oo

If you don’t mind sharing, I completely understand if you don’t want to.

how much did you put on the card?
What is your credit limit?
Has your credit score gone down? If it has, how many points?

I would love to go this route when the cabins go up for sale (pending buy in costs and point charts) but would be very concerned that if I put say half on my card (around $15k) and my credit limit is only $18.5k that my score would drop substantially due to high utilization.

Oof just checked and it did drop like 45 points for me. I don’t typically put $32k on my cc so my utilization is definitely higher than normal. I put $23k on CSR (100pt) and $8k (50pt - incentives) on Disney. Luckily I’m not in the market for anything that would require my credit score for the next 2 yrs so it made sense for me to take advantage of the 24 month plan and get 3x the travel points. Last time I bought direct points I applied for a new cc to get the 18 month interest free promo. I really didn’t want another cc so the chase plan works for me with no plan fee for first plan.

 

[Traveling on cc points]

Oo

Oof just checked and it did drop like 45 points for me. I don’t typically put $32k on my cc so my utilization is definitely higher than normal. I put $23k on CSR (100pt) and $8k (50pt - incentives) on Disney. Luckily I’m not in the market for anything that would require my credit score for the next 2 yrs so it made sense for me to take advantage of the 24 month plan and get 3x the travel points. Last time I bought direct points I applied for a new cc to get the 18 month interest free promo. I really didn’t want another cc so the chase plan works for me with no plan fee for first plan.

Thank you so much for your reply. I really appreciate it. Yikes. 45points is a lot.

I’m a points girl so I completely understand your position. 45 points might be worth 90k UR points.

 

[Kidguile]

Thank you so much for your reply. I really appreciate it. Yikes. 45points is a lot.

I’m a points girl so I completely understand your position. 45 points might be worth 90k UR points.

I work in auto finance and yes your score will drop due to how much revolving credit is left available.

If you charged $15k on your $18.5k limit, then you would only have 19% revolving available after it posts and the statement date closes out. Your score would drop quite a bit because it looks as if you're almost maxing out your card and would be a higher risk if you were to apply for a loan and be charged a much higher rate. This is assuming you do not have any other credit cards to give you a higher revolving credit available.

Let's say you have 2 credit cards and have $50k available. You then charge $15k, you would then have 70% revolving available so the credit score will not drop as much as the 1st scenario.

If you know you want to do the credit card route to maximize points, mileage, cash back and don't need to use your credit score for a loan or mortgage, then I wouldn't worry about it.

You can always apply for a credit card right before the cabins are released. Balances are always a month or so behind depending on when they report to the credit bureaus.

You can also apply for the Disney Chase Card and use the 0% for 6 months.

 

[Traveling on cc points]

I work in auto finance and yes your score will drop due to how much revolving credit is left available.

If you charged $15k on your $18.5k limit, then you would only have 19% revolving available after it posts and the statement date closes out. Your score would drop quite a bit because it looks as if you're almost maxing out your card and would be a higher risk if you were to apply for a loan and be charged a much higher rate. This is assuming you do not have any other credit cards to give you a higher revolving credit available.

Let's say you have 2 credit cards and have $50k available. You then charge $15k, you would then have 70% revolving available so the credit score will not drop as much as the 1st scenario.

If you know you want to do the credit card route to maximize points, mileage, cash back and don't need to use your credit score for a loan or mortgage, then I wouldn't worry about it.

You can always apply for a credit card right before the cabins are released. Balances are always a month or so behind depending on when they report to the credit bureaus.

You can also apply for the Disney Chase Card and use the 0% for 6 months.

Thanks so much for the detailed explanation.
I was under the impression that my utilization was per card, Not my total available credit. Good to know. I have many other credit cards. (Look at my user name )

If I do decide to buy, and go the free financing route, I will have some of my credit moved from other chase cards to have a lower utilization on the card I use.

 

[HyperspaceMountainPilot]

We put 35k of DVC points (and another 5k or so for our cruise…we bought onboard) on our credit card in January and our credit score took a 30 point dip…but we paid them off in Feb/Mar and it is back as high as it was in December. Unlike many other things that can hurt your score, the high balance hit appears to resolve as soon as you pay it off.

 

[Straulin]

For (edit - Multiple) Chase cards , if you open a new card they will give you a set limit on that card but you can call and adjust the limits for the equivalent total. So our Disney Visa didn't have enough credit limit for our purchase in April. I called and the reduced my other card and added to the Disney in under 5 minutes.

The Disney Visa is still doing the 6 months no interest. For autopay, change from paying the balance to Interest Savings payment. It will pay your balance from other purchases and a small amount toward the DVC purchase (~500 or so). Then the last two months (months 5 and 6) Chase said will split the remaining DVC balance with half on each month.

 

[DonMacGregor]

Thank you so much for your reply. I really appreciate it. Yikes. 45points is a lot.

I’m a points girl so I completely understand your position. 45 points might be worth 90k UR points.

This is where business CC's come in handy...LOL

 

[Airb330]

They were all Ink Unlimited. We are three couples (Mom/Dad, brothers and spouses), so we each opened one through cross referrals. No issue with number of cards - guide never mentioned a limit or gave any pushback when we asked if we could do it.

Turn all those UR points to Hyatt. You’ll be able to all go to some awesome places with amount; Even after the recent hyatt devaluation we can still get 4-7 cents per hyatt point easily. It beats the portal.