Bill Pay?

[nunzia]

Has anyone used Billpay to slap extra money on their loan? I plan on paying this off this year, so every payday will do a Billpay extra principal payment. I did a test payment and it hasn't shown up yet. If anyone has done this how long did it take to show on your account online?

 

[edk35]

Has anyone used Billpay to slap extra money on their loan? I plan on paying this off this year, so every payday will do a Billpay extra principal payment. I did a test payment and it hasn't shown up yet. If anyone has done this how long did it take to show on your account online?

I have never used Bill Pay but you can pay on your loans on the DVC member site. I just use our Visa Check cashing card that is linked to our checking acct.

 

[disneynutz]

Why not make your extra payments with a rewards credit card? Between our free Costco Amex and our SWA Chase cards, we earn 2 free airline tickets and $300 back from Costco each year.

Bill

 

[bumbershoot]

No, I haven't done that. Once we pay off our car we'll start putting all that extra towards DVC, so I plan to use their handy little "Pay Toward Principal" button.

The one limitation is "Your payment toward Principal must be no less than $10 and $50 less than your Remaining Principal."

It says to give them 2 business days for that...since you used an outside way of paying maybe you could give them more time than that...or maybe call to see if it's even going to work at all.

Have fun smashing the loan down this year! We're doing that to our car this year, then we'll tackle DVC next year (knock wood (not really trusting in wood, but I just cannot bring myself to not include that when I type it out, LOL))...fun!

 

[nunzia]

Good luck to you also! I was paying down the car that we didn't plan on buying but had to, but then a friend pointed out that since I'm paying more interest on the DVC I should pay that off first..DOH..I don't know why I was looking at things differently, but anyway. I thought about sticking it on a CC than paying the card and if this doesn't work I may do that. I just hate to use CC and I don't have a decent reward one..I keep thinking I'll get the Disney one, but now with all the changes I'm wondering if they will have an annual fee which would negate the rewards, so holding off on that. Then the suggestion of using my debit card with the Visa logo was very good, but it has some sort of daily limit thing? Maybe only on cash? so I was fuzzy if that would work. Anyone know? The chunks will be in the 600 -650 range, so I don't know if the debit card would work. Has anyone heard of the Disney card palnning to start an annual fee?
Thanks all

 

[bumbershoot]

Thanks!

Oh how I wish our car was lower interest than DVC.

The debit card has a $25 annual fee. This year it was made up for by their $25 in rewards dollars with the first use of the card, and we were going to give it up next year. But after your post last night, when I went in to really look at the principal pay feature and noticed we can use the debit card, I got really excited. Because our year with that debit card will be up just as we finish the car and start working on DVC, so I'll have to run the numbers (albeit sad with the debit card, LOL, at $1 for every $200) to see how it would work for us, to keep or not.

All I've seen is articles theorizing on if credit cards are going to start charging fees...probably no way to tell if they actually will do it.


I'm actually not sure what the daily limit on the debit card is...it probably varies depending on the individual account. I'm trying to look around my own account but can't find the info! Once it becomes an "issue" for us after we start throwin' the snowball at DVC, guess I'll get to find out.

 

[CarolMN]

I have a Disney VISA. If they start charging an annual fee, I will cancel it. Suspect there are many others who would do the same.

 

[bumbershoot]

If they start charging an annual fee, I will cancel it. Suspect there are many others who would do the same.

I suspect you're right!

On the other hand, back when I was a CC girl, I was totally fine paying an annual fee on amex (the proper amex where you paid 100% of the bill every month).


And when we were using our credit union CC, to "add" rewards to it (good rewards program) was a $25 annual fee. So I'm not one that is particularly adverse to paying a small fee (especially if I'm not giving them any interest, LOL). But that's neither here nor there.