Creative Ways to Finance DVC

[Hokies37]

If you have Amex check your cards, they're running a no fee Plan It promotion until 07/30 for travel purchases, which DVC triggers it. It's targeted, so not everyone will have it.

Where in your account did you see it? I have a Platinum but haven't received an email promoting it.

 

[davidhr]

Where in your account did you see it? I have a Platinum but haven't received an email promoting it.

in the app if you have a travel charge you can go to the plan it option and you’ll see an alert.

In the web (desktop or mobile) you’ll see this alert on your Home Screen for the card if it’s available (you have to have the card selected, if you have multiple try switching to a different card)

 

[achinforsomebacon]

Does anyone know if the no fee Chase pay over time is limited to one per account? I have multiple cards that are eligible but wasn't sure if it would only be available one time between them.

 

[Hokies37]

in the app if you have a travel charge you can go to the plan it option and you’ll see an alert.

In the web (desktop or mobile) you’ll see this alert on your Home Screen for the card if it’s available (you have to have the card selected, if you have multiple try switching to a different card)

Just want to follow up and say thanks for the tip! I was going to use my Chase Marriott plan but I'd rather get the Amex points. I found the offer in my account.

 

[davidhr]

Just want to follow up and say thanks for the tip! I was going to use my Chase Marriott plan but I'd rather get the Amex points. I found the offer in my account.

Awesome!

 

[Hokies37]

Awesome!

One other question - did rewards show up for the purchase? The fine print says "You will not earn additional points for purchases of timeshare properties."

 

[davidhr]

One other question - did rewards show up for the purchase? The fine print says "You will not earn additional points for purchases of timeshare properties."

Can’t confirm that one because my green card didn’t have the offer and I used another one that doesn’t have extra multipliers for travel. My guess is that it will, as the plan it also says that timeshares don’t apply but it did anyways.

 

[Robbie Cottam]

401k Loan

Pay yourself the interest, and add to your retirement in the process.....
Depending on your retirement management company loan may cost $50.

Yes opportunity cost,
But it is another options,

 

[ARobyn]

Hi All. Just realized that this quarters 5% for Chase Freedom is Entertainment, Disney being part of the merchant list. Wondering if DVC payment would trigger it?

 

[Traveling on cc points]

Hi All. Just realized that this quarters 5% for Chase Freedom is Entertainment, Disney being part of the merchant list. Wondering if DVC payment would trigger it?

It could but just remember that even if it does, you would only earn 5% on the first $1,500.

 

[PolyRob]

Hi All. Just realized that this quarters 5% for Chase Freedom is Entertainment, Disney being part of the merchant list. Wondering if DVC payment would trigger it?

DVC codes as travel with Chase

 

[Shari75]

Silly question, could I use a credit card to pay for a resale purchase?

 

[LittleBitGoofy]

Silly question, could I use a credit card to pay for a resale purchase?

Some title companies will let you put the deposit on your credit card. Mason let us put $5K on ours. Rest had to be wired funds.

 

[WDWfantasy]

Silly question, could I use a credit card to pay for a resale purchase?

I was able to put $7,500 on a credit card for the initial deposit with masontitle.com. That was on May 29th of this year.

 

[varyth]

Silly question, could I use a credit card to pay for a resale purchase?

Some title companies will let you put the deposit on your credit card. Mason let us put $5K on ours. Rest had to be wired funds.

I was able to put $7,500 on a credit card for the initial deposit with masontitle.com. That was on May 29th of this year.

Not sure if it had to do with the different brokers or if Mason changed their limits between my two resale purchases. I was allowed to put $7500 down for a deposit this year, but only up to $5000 last year.

And the deposit with Mason does NOT code as travel with Chase, unfortunately.

 

[LittleBitGoofy]

I was able to put $7,500 on a credit card for the initial deposit with masontitle.com. That was on May 29th of this year.

That's a nice bump in depost cc limits. This April ('23) I was told a max of $5K, so sounds like they up'd that recently (or my contact at Mason was just behind in the info they had).

 

[jess2022]

That's a nice bump in depost cc limits. This April ('23) I was told a max of $5K, so sounds like they up'd that recently (or my contact at Mason was just behind in the info they had).

I was told 5k last month with Mason. I asked my broker though not Mason so maybe I was given outdated information.

 

[Jayunit09]

Guess I should of asked when we bought resale in February! I only put down what they asked me to. Would of loved the 5K Chase UR!

 

[TheLyinKing]

401k Loan

Pay yourself the interest, and add to your retirement in the process.....
Depending on your retirement management company loan may cost $50.

Yes opportunity cost,
But it is another options,

Unless you have a 401k ROTH, do not do this unless its a last resort. A 401k uses pre-tax money contributions. If you take out a loan on that 401k, you'll have to pay the loan back with post-tax money, and then the 401k will once again be taxed when you take out your disbursement. Furthermore, the money you withdraw will not gain interest based on any stock gains. Yeah you'll pay back interest, but again that's your money you're paying interest on, instead of getting it for "free" via the market. A 401k ROTH is a different proposition as the money is already taxed, but still don't recommend it unless you really need to. Best way to do this imo would be to open a credit card that has no interest for 18-24 months and pay it monthly that way. Save a 401k loan for a real emergency.

 

[Robbie Cottam]

Unless you have a 401k ROTH, do not do this unless its a last resort. A 401k uses pre-tax money contributions. If you take out a loan on that 401k, you'll have to pay the loan back with post-tax money, and then the 401k will once again be taxed when you take out your disbursement. Furthermore, the money you withdraw will not gain interest based on any stock gains. Yeah you'll pay back interest, but again that's your money you're paying interest on, instead of getting it for "free" via the market. A 401k ROTH is a different proposition as the money is already taxed, but still don't recommend it unless you really need to. Best way to do this imo would be to open a credit card that has no interest for 18-24 months and pay it monthly that way. Save a 401k loan for a real emergency.

you would have to pay the credit card back with post tax money too,
Kinda seems like a wash....

Also, your claim that the withdrawn money will not gain interest although correct, over looks the simple fact that in the last two years, "gains" in the stock market have not be a sure thing.

Also you car completely overlooking the "cost" to your credit rating of a new credit card, with 20, or 25000 dollars sitting on your credit report.

What happens if you can't pay the credit card off during the introductory period?

Bottom line if you are looking for "creative ways:" to finance DVC your are most likely not a cookie cutter consumer.
All situations are different and

FOR SOME PEOPLE LOOKING FOR CREATIVE FINANCING, A 401K LOAN MAY BE THE BEST OPTION, imo.