Anyone use the Disney visa 6mth 0% apr?

[babby]

If so- how does it work? I mean how does it show up on your bill? I carry a zero bal- pay in full every month but would like to try the 6 mth int free for my vacation package this time. It is due nov. 30 so it would post to that bi because my bill closes on 12/3. Anyone use this perk of the card before?

 

[disneymagicgirl]

I just got this card a few weeks ago. The catch is that any payments you make to this card will apply to that 0% balance first. Therefore, if you want to use this feature, you will need to use the card only for your vacation and nothing else until that 6 mths at 0% is over. KWIM?

 

[HolliePoppins]

The above post is not right. I currently have my trip on the bill and the payments go to your regular purchases first.
The only way you will get into trouble is if you make more than one payment a month. Then the second payment will go to the o% apr because they havnt actually billed you for the regular purchases(is that a word? LOL) yet. Does that make sense?

 

[Marionnette]

I just got this card a few weeks ago. The catch is that any payments you make to this card will apply to that 0% balance first. Therefore, if you want to use this feature, you will need to use the card only for your vacation and nothing else until that 6 mths at 0% is over. KWIM?

Not quite true. The zero per cent apr will appear as a promotional rate on your statement. There will also be a date next to the amount which is exactly six months from the date that you made the charge. It is independent of your closing date. You will need to pay any new charges plus this amount before that date in order to avoid paying interest. Any payments that you make during the first four and a half months will be applied to the highest apr purchases first. Thats the law. For some reason they start applying any payments to the zero per cent balance when you are forty five days away from when the promotional rate expires. At least that is what happened to me when the new credit card laws went into effect in february. So you will need to keep a close eye on your statement to make sure that you are not getting too close to that date. Check the discussion on this thread. http://www.disboards.com/showthread.php?t=2408376

 

[HolliePoppins]

Not quite true. The zero per cent apr will appear as a promotional rate on your statement. There will also be a date next to the amount which is exactly six months from the date that you made the charge. It is independent of your closing date. You will need to pay any new charges plus this amount before that date in order to avoid paying interest. Any payments that you make during the first four and a half months will be applied to the highest apr purchases first. Thats the law. For some reason they start applying any payments to the zero per cent balance when you are forty five days away from when the promotional rate expires. At least that is what happened to me when the new credit card laws went into effect in february. So you will need to keep a close eye on your statement to make sure that you are not getting too close to that date. Check the discussion on this thread. http://www.disboards.com/showthread.php?t=2408376

Wow I had not heard about this. I will make sure I pay it off before that 45 day mark. Thanks for the tip.

 

[Marionnette]

Oh. And another thing. Even if the only thing that you have on the card is your disney vacation you will still be expected to make a monthly minimum payment on that balance.

 

[babby]

thanks all for the replies. I have two chase disney cards- One I use for everything, the other I just got in order to get the bonus 150.00 rewards they offered just this past summer. So I am currently not using that one at all. I think I will put the vacation on that one, ask for the 6month int free, continue using the other card for everything else and make a min. monthly payment on the vacation one each month. Now, whats this about 45 days? Does that mean I should pay it off in 4 months to be safe? What happens at the 45 day mark?

 

[babby]

OK just read that other post with the link above- looks like I can use my regular card for everything and keep paying it off every month and use my other visa for the vacation and pay it in 6 equal payments and I should be good to go wit not one cent in interest. now how do I go about asking for the 6 mth promo? My travel agent will be charging the trip on the visa - then what do I do to get the promo? call and ask for it? Thanks everyone!

 

[disneymagicgirl]

Thanks for clearing that up...I apologize for the wrong info. I misunderstood it when I read all the small print that came along with my new card. Good to know!