Charging Disney Vacation to Disney Credit Card for Reward Dollars?

[DJ Disney Kid]

Ok, so heres my question. My statement hits the 10th every month. We are going to be in Disney from May 5th to 12th. I owe about a $1000 on the room and I want to charge it to my Disney card so I get the Disney dollars before my trip. What I want to do is charge that on April 6th, then pay it off on April 13th. What Im wondering though is that $1000 going to cost me $10 in interest charges when the statement hits on the 10th of April, thus nullifying my reward dollars basically? Cause that charge would only have been on the card for a few days before the end of the statement cycle, so am I charged interest on that? Hopefully you understand what Im saying...

 

[smitch425]

Ok, so heres my question. My statement hits the 10th every month. We are going to be in Disney from May 5th to 12th. I owe about a $1000 on the room and I want to charge it to my Disney card so I get the Disney dollars before my trip. What I want to do is charge that on April 6th, then pay it off on April 13th. What Im wondering though is that $1000 going to cost me $10 in interest charges when the statement hits on the 10th of April, thus nullifying my reward dollars basically? Cause that charge would only have been on the card for a few days before the end of the statement cycle, so am I charged interest on that? Hopefully you understand what Im saying...

You only get charged interest if you don't pay your full balance by the due date of your bill. For instance, my billing cycle closes at midnight on the first of every month, but my bill isn't due until the 26th of the month. So if I charge something on the 27th of March, it will be billed to me on a statement that is due to be paid by Apr 26. If I pay it off anytime before then, I incur zero interest. Does that make sense?

 

[I❤MICKEY]

You only get charged interest if you don't pay your full balance by the due date of your bill. For instance, my billing cycle closes at midnight on the first of every month, but my bill isn't due until the 26th of the month. So if I charge something on the 27th of March, it will be billed to me on a statement that is due to be paid by Apr 26. If I pay it off anytime before then, I incur zero interest. Does that make sense?

I work for a bank/credit card company. I can validate this is accurate.

Also, I believe you get 0% APR if you put your Disney Vacation on the card if you booked through a Disney approved agent. Ask about it when you pay call to put your balance on the card.

 

[DJ Disney Kid]

You only get charged interest if you don't pay your full balance by the due date of your bill. For instance, my billing cycle closes at midnight on the first of every month, but my bill isn't due until the 26th of the month. So if I charge something on the 27th of March, it will be billed to me on a statement that is due to be paid by Apr 26. If I pay it off anytime before then, I incur zero interest. Does that make sense?

Ok so my due date is always the 7th of every month and my billing cycle is on the 10th of every month. So if I was to charge the $1000 I owe on the 8th, and paid it off by the 13th, I wouldn't be charged interest then is what your saying?

 

[Marionnette]

Ok, so heres my question. My statement hits the 10th every month. We are going to be in Disney from May 5th to 12th. I owe about a $1000 on the room and I want to charge it to my Disney card so I get the Disney dollars before my trip. What I want to do is charge that on April 6th, then pay it off on April 13th. What Im wondering though is that $1000 going to cost me $10 in interest charges when the statement hits on the 10th of April, thus nullifying my reward dollars basically? Cause that charge would only have been on the card for a few days before the end of the statement cycle, so am I charged interest on that? Hopefully you understand what Im saying...

You only get charged interest if you don't pay your full balance by the due date of your bill. For instance, my billing cycle closes at midnight on the first of every month, but my bill isn't due until the 26th of the month. So if I charge something on the 27th of March, it will be billed to me on a statement that is due to be paid by Apr 26. If I pay it off anytime before then, I incur zero interest. Does that make sense?

What smitch said is correct IF you are not carrying a balance. If you have a balance that you carry forward from one month until the next, then you lose that grace period and interest is calculated on your average daily balance and that will include any new charges.

 

[smitch425]

Ok so my due date is always the 7th of every month and my billing cycle is on the 10th of every month. So if I was to charge the $1000 I owe on the 8th, and paid it off by the 13th, I wouldn't be charged interest then is what your saying?

Are you talking about April or May? The reason I ask is because if your billing cycle will close on May 10th, that would mean your rewards wouldn't hit until the 11th, one day before your trip ends. Do you want them sooner than that or is that timing okay with you?

I would charge the hotel balance at least 4 days before your card's closing date because sometimes it can take a few days to clear after Disney files it.

As long as you pay your balance in full before the due date of your bill, you will not pay any interest. You can certainly pay it sooner than that, but it is not necessary to pay the bill before you claim the rewards. The rewards are available after the month closes, not after the bill is paid.

Sorry if I am being confusing. I know what I am talking about, I just can't seem to write it clearly.


ETA: Just saw Marionette's post above... I have NO idea what hapeens to your account if you are carrying a balance. We have always paid our bill in full every month, so if you have a balance, you might want to call Chase and ask them about it.

 

[DJ Disney Kid]

The card has no balance and Im talking about April. I want to make sure I have the rewards by May 5th when our trip starts. If I dont get them until the 11th of May, that will be the last day of our trip.

 

[smitch425]

The card has no balance and Im talking about April. I want to make sure I have the rewards by May 5th when our trip starts. If I dont get them until the 11th of May, that will be the last day of our trip.

In that case, you will have plenty of time. Just charge it on April 5th or 6th and then pay it of before the bill is due on May 7th. I suggest that you order your actual rewards card no later than the end of THIS month, though. You can just go online to add the add'l rewards right before your trip. You can even do it over the phone. We were midtrip during our closing date once, and I added more rewards by phone while standing at the POP bus stop to MK. It takes about two minutes. Easy peasy.

 

[Marionnette]

The card has no balance and Im talking about April. I want to make sure I have the rewards by May 5th when our trip starts. If I dont get them until the 11th of May, that will be the last day of our trip.

It's possible to change your closing date to an earlier date. Is this something that you're willing to do? It will shorten your billing cycle by about a week during the first month that you make the switch but if you change it to the first of the month, you should have your rewards by the 5th of May.

 

[DJ Disney Kid]

Awesome, I love the DIS! Thanks for the help everyone.

 

[DisneyDreamMaker]

You will not be charged interest because you have 6 months with no interest when you pay with your Disney Visa! We always put our room, tix or package on our Disney Visa and pay it off before the 6 months and have never been charged interest.

 

[Marionnette]

You will not be charged interest because you have 6 months with no interest when you pay with your Disney Visa! We always put our room, tix or package on our Disney Visa and pay it off before the 6 months and have never been charged interest.

The 6 months at 0% interest only applies to packages. Room-only and ticket purchases are not eligible for the promotional rate. The OP has a room-only reservation.

 

[smitch425]

You will not be charged interest because you have 6 months with no interest when you pay with your Disney Visa! We always put our room, tix or package on our Disney Visa and pay it off before the 6 months and have never been charged interest.

The 6 months/no interest is only on packages. Sounds like OP just has a room only bill she wants to pay, plus she didn't specify that it was an on-site hotel.

 

[TheSchragFamily]

It won't be due until your NEXT bill. Anything you charge 2 days before a bill is due is not included in the amount due right then (in your case, that will be zero, and you will get a bill a little while after you return home with the charge you made plus a couple of weeks left to pay it off).

 

[Marionnette]

It won't be due until your NEXT bill. Anything you charge 2 days before a bill is due is not included in the amount due right then (in your case, that will be zero, and you will get a bill a little while after you return home with the charge you made plus a couple of weeks left to pay it off).

That is far from my personal experience. If a payment is due on the 10th, then my billing cycle does not close until 2-3 days later. Any charges made during the billing cycle that are processed before it closes are included in that month's statement. So if I were to charge something on the 8th, it will definitely show up on the statement that arrives in my mailbox around the 15th.