charging resale purchase

[kid-at-heart]

Seeing the Visa promotion for new DVC sales starting me thinking, do any of the resale companies accept credit cards? Thus far we have always paid cash for our contracts but it would be nice to be able to "double-dip", use a points based credit card for the sale and then pay the card off before getting hit with finance charges.

 

[CarolMN]

Not as far as I know. Very few (if any) sellers are willing to pay the fee the credit card companies charge and I do not blame them.

If you want to "double dip", you'll have to go through Disney direct.

 

[kid-at-heart]

I have to say if I were a resell company I also would not accept credit cards but since so many companies now do I thought I would ask.

 

[rock_doctor]

Do the math and see if buying directly is worth it. You (should) get current use year points plus next when it comes, plus you can use a CC, plus no closing costs (if you are adding on), plus you can use the added on points immediately and no waiting for closing or ROFR... You might find the price difference is not enough to worry about and stick with Disney.

 

[robert@dvcstore]

You can use your credit card for a DVC resale purchase through The Timeshare Store, Inc.® for a payment up to $1,000 total. That is the limit the escrow company has for credit card payments. There is also a merchant fee that is charged to use the card. So, weigh your options if you wish to use a credit card.

The savings by purchasing resale vs. buying direct from Disney may outweigh using a credit card. Decisions, decisions.

Robert

 

[CarolMN]

Y.......There is also a merchant fee that is charged to use the card. So, weigh your options if you wish to use a credit card. .........

That "merchant" fee will almost surely be more than the value of the reward points!

 

[hellerjw]

The merchant fees are what the vendor pays the various 3rd parties to process the card transaction, the buyer pays no part of it. The existance of merchant fees allows the card issuers to be able to afford the rewards program in the first place. They know the 1% they give back in rewards will be easily offset by the 3-4% they bring in with each transaction.

Federal law and all bankcard companies (Visa, MasterCard, AMEX, etc) prohibit the vendor from charging extra to recover the cost of the card processing, the vendor just has to eat the expense as the cost of accepting the credit card. Many vendors get around this by pricing things above normal with the assumption that all transactions will be credit card based and then offer buyers a "discount" back to the original price if they pay with cash. A vendor can't charge a credit card customer more for an item than its advertised price.

Because all the associated costs of accepting a credit card can equal 3-4% of the transaction price most vendors would be reluctant to accept them for large purchases as it would take a big chunk out of their profit margin. Huge companies like Disney, Walmart, etc have such enormous transaction volume that they can negotiate their costs down to 1% or less and therefore are more willing to accept cards for large purchases.