Credit card for down payment?

[Ellen]

I was going to use my Disney credit card for down payment of my first DVC resale purchase looks like I would only get 1%. Does anyone know how that transaction is categorized? Any suggestions on good credit card to use?
Thanks
Ellen

 

[pzw90]

I was going to use my Disney credit card for down payment of my first DVC resale purchase looks like I would only get 1%. Does anyone know how that transaction is categorized? Any suggestions on good credit card to use?
Thanks
Ellen

Chase Sapphire cards should code as travel, getting you 3%

Edit: Didn't catch it is resale. It depends on how the title/escrow company is categorized. Best idea it to get a new card with a decent sign-up bonus

 

[WDWfantasy]

Chase Sapphire cards should code as travel, getting you 3%

When we purchased resale it did not code as travel. The charge was processed by the title company and it coded as professional services or something along that line. The only time we’ve had it code as travel is purchasing direct. Annual dues also code as travel.

 

[atthebeachclub]

Consider trying to meet a signup bonus or using a 2% cash back card.

 

[heynowirv]

We use our Costco Citi card. It pays you cash at the end of the year .

 

[pzw90]

When we purchased resale it did not code as travel. The charge was processed by the title company and it coded as professional services or something along that line. The only time we’ve had it code as travel is purchasing direct. Annual dues also code as travel.

I didn't catch the resale part. I thought they were going direct. You are right, it depends on how the title/escrow company is categorized.

 

[muppets3d]

I would be very surprised if an escrow company is categorized as anything other than "services, professional services, etc"

They are not a travel company.

 

[jksung5295]

mine coded as "Insurance" very recently with https://www.dvcclosings.com/. so you probably need datapoints depending on which title company you are using.

 

[mickeyshellbelle]

When we purchased resale it did not code as travel. The charge was processed by the title company and it coded as professional services or something along that line. The only time we’ve had it code as travel is purchasing direct. Annual dues also code as travel.

Is there a perk for dues to be coded as travel? We have them auto deduct from our checking but looking now into upping my credit card points game!

 

[VGCgroupie]

Used several different title companies and it always codes as professional services never travel.

 

[LittleBitGoofy]

Is there a perk for dues to be coded as travel? We have them auto deduct from our checking but looking now into upping my credit card points game!

If you have a travel card or rewards card that gives extra multiplier for Travel category then it could be worth paying with it instead of a direct debit.

 

[VGCgroupie]

Is there a perk for dues to be coded as travel? We have them auto deduct from our checking but looking now into upping my credit card points game!

Certain cards give 2x or 3x points/cash back for travel purchases.

 

[muppets3d]

Is there a perk for dues to be coded as travel? We have them auto deduct from our checking but looking now into upping my credit card points game!

If nothing else you should pay your dues with Disney gift cards purchased from target, with a red card instant 5% discount on your dues. That’s real money.

 

[mrandmrsthomas0618]

I was going to use my Disney credit card for down payment of my first DVC resale purchase looks like I would only get 1%. Does anyone know how that transaction is categorized? Any suggestions on good credit card to use?
Thanks
Ellen

I play the points and miles "Travel Hacking" game. So for our first DVC purchase, we utilized credit cards for the entire purchase.

We signed up for 2 0% APR cards that had a sign up bonus. One was a Wells Fargo card that gave $500 cash back after minimum spend. The other was the Amex Business Gold card that gave 100k points after minimum spend.

We learned during that process that DVC Title and Escrow would allow you to not only pay your deposit with a credit card (no fee) but also the remaining balance with a credit card (2% fee).

We paid the deposit of $5k with the wells fargo. That gave us the $500 back. We then paid remaining balance with amex
That allowed us to get the sign up bonus and the 2% fee was countered by getting 1% back. So for our 20k contract, we paid $400 extra because of fee. But got 100k points, $500 back and another 20k in rewards. The way we use points, they are more valuable than one cent per point but valuing that as a minimum, we got net $1,300 back using credit cards. And 0% APR for a year. Took us 6 months to pay off but better than waiting or financing.

 

[VGCgroupie]

I play the points and miles "Travel Hacking" game. So for our first DVC purchase, we utilized credit cards for the entire purchase.

We signed up for 2 0% APR cards that had a sign up bonus. One was a Wells Fargo card that gave $500 cash back after minimum spend. The other was the Amex Business Gold card that gave 100k points after minimum spend.

We learned during that process that DVC Title and Escrow would allow you to not only pay your deposit with a credit card (no fee) but also the remaining balance with a credit card (2% fee).

We paid the deposit of $5k with the wells fargo. That gave us the $500 back. We then paid remaining balance with amex
That allowed us to get the sign up bonus and the 2% fee was countered by getting 1% back. So for our 20k contract, we paid $400 extra because of fee. But got 100k points, $500 back and another 20k in rewards. The way we use points, they are more valuable than one cent per point but valuing that as a minimum, we got net $1,300 back using credit cards. And 0% APR for a year. Took us 6 months to pay off but better than waiting or financing.

This is great to know about DVC Title & Escrow.
Welcome Home! Enjoy all those points!!

 

[dealz2012]

We just did our resale contract and signed up for a freedom unlimited. 20k signup bonus, 1.5% CB, and 15 months 0%. Main draw was 15 months 0% and love UR points over most others point currencies. You can get a 2% card though, (fidelity comes to mind).

Planned on paying the 3% fee on everything over $7500 but I think the title company may have forgot to charge it. Made out!

If you save those points and pair with a sapphire card later they are worth more than the 1.5% your getting back as well.

 

[Ellen]

I play the points and miles "Travel Hacking" game. So for our first DVC purchase, we utilized credit cards for the entire purchase.

We signed up for 2 0% APR cards that had a sign up bonus. One was a Wells Fargo card that gave $500 cash back after minimum spend. The other was the Amex Business Gold card that gave 100k points after minimum spend.

We learned during that process that DVC Title and Escrow would allow you to not only pay your deposit with a credit card (no fee) but also the remaining balance with a credit card (2% fee).

We paid the deposit of $5k with the wells fargo. That gave us the $500 back. We then paid remaining balance with amex
That allowed us to get the sign up bonus and the 2% fee was countered by getting 1% back. So for our 20k contract, we paid $400 extra because of fee. But got 100k points, $500 back and another 20k in rewards. The way we use points, they are more valuable than one cent per point but valuing that as a minimum, we got net $1,300 back using credit cards. And 0% APR for a year. Took us 6 months to pay off but better than waiting or financing.

The Amex businesses gold is $375 a year correct?

 

[mrandmrsthomas0618]

The Amex businesses gold is $375 a year correct?

That's correct. I should have factored that in.

It does come with a $20 a month credit at supply stores so we buy a $20 gift card to Target from staples every month which makes it more line $135 for us.

 

[VGCgroupie]

The Amex businesses gold is $375 a year correct?

YEs. I have gotten so much value out of ours though. To be fair we eat out alot so the extra 1% over other cards adds up. We go to Office Depot each month and buy a $20 Disney Gift Card. Then there's also the Walmart+ free annually. So the annual fee is a wash for us.