Curious? How many pay there dues right away?

[ILuvMulan]

As soon as my current Disney visa bill comes in, I will pay it in full then charge my dues and pay them in full when that bill comes. No interest and I get my rewards points.

 

[DebbieB]

We just became members this year and I did give my cking account information for monthly payments (thought I had to) but would prefer to pay it all at once on one of my rewards cards, do I have until Feb 15th before they pull any money from my account or will they pull the 1st monthly payment in Jan.? Thanks in advance

The first payment will come out January 15. Even if your payment date is the first of the month, January is the 15th.

I've always used the monthly withdrawl, I never really miss it. I'm around $111 a month for 250 BWV points.

 

[taaren]

I pay January 24, right after my Disney VISA statement closes, so I have until Feb 24 to pay that bill but usually the cards are zeroed out by the 5th of every month. Not sure why, but I like the lump payments, and I do lump sums for our car & life insurance too. Somehow its less painful if I only have to think about it once a year as opposed to making sure there's enough money every month to cover the few bills that do fluctuate.
Interesting that somebody on here mentioned they hate Chase ... I used to be WaMu, my mortgage was through whoever my mortgage broker found (Western something-or-other), and then I had the Disney VISA until 3 years ago. Then Chase bought out WaMu, and bought our mortgage from the original bank, and now we're stuck with them whole hawg. Despite the fact that they keep adding fees that WaMu didn't used to have on the banking side, we've managed to avoid them between linking all of our accounts together, so I haven't quite gotten around to switching to Ing yet (really like the automatic deductions from my accounts into kids' college savings, etc, and that would be a pain to change). Do love the credit card, though, and would keep it even if we do move all the other stuff; every interaction I've had with that *particular* branch of Chase has been great.

 

[SSR]

It's not about paying it up front, it's about paying it over the course of a year. Unless you're outside the US you do not need to pay the whole dues up front, you can pay equal monthly installments over the course of the year with no fee. I think you're stuck on the amount due at invoice, the due date and the fact you can pay in equal monthly installments.

So if you through $1,000 into an account and earn 2.5% (not that hard to get a liquid account at that, just takes some work), you can earn a few dollars above what you would get in cash awards (most are 1%).

Ahhhh, you're right. I was focusing on that 60-day window. I see what you're saying now re: spreading throughout course of the year. However, for an apples-to-apples comparison, I don't think we can start from the premise that we can just throw $1,000 into an account and let it sit all year (you have to make equal $83/month payments).

With that assumption in hand, on my back-of-the-envelope analysis, the 1% immediate cash back is better than the 2.5% return on a $1,000 declining balance throughout the course of the year. On an equal monthly declining balance every month ($83), you'll earn a total of $13.83 at 2.5%. After taxes on the interest, you'd be below $10 (FWIW, I've never received an interest or other income statement from my Discover card or Disney VISA ). Again, I recognize that in this economic environment, this is more of a theoretical exercise than anything else since the numbers are so low. I just thought there was something that I was missing when folks are earning "alot" more than 1%.

Now I'm going to hunt for that 2.5% liquid place you're referencing.

 

[DizGirl20]

Call me crazy, I don't like dues hanging over my head all year, so we pay all at once in January. I am waiting for the statement to arrive in the mail so we can write a check.

To be honest, if I was reminded every month of my dues, I might not always be looking at the resale sites to add more points!

 

[n2mm]

I pay mine in January with my Disney Reward Visa and pay off the Visa afterwards. I get my rewards points and am OK with that. I am set up for monthly payments and will use that option in a couple of years as soon as our mortgage is paid off (in 2 years). The last time I checked my FCU was paying 1% so it didn't really matter one way or the other. However, if it goes up, then I'll change the way I pay. I do like that Disney doesn't charge fees or interest on paying the dues over 12 months. With my luck that will change when I'm ready to use that option...

 

[dsneygirl]

Pay in Jan with my CC. I just put a little in a savings account each pay.

 

[marynvince]

use a CC for points. Just like being done with it. While I know i can keep the money and potentially earn interest on it, i just dont like it hanging over my head.

 

[tiggerrr]

I pay right away as soon as I notice it in the account, so I'm already paid. We save it up over the course of the year in advance, so the money is already there. I'm not really good at paying things on a particular day, so I pay most bills as soon as I know about them, because it is better than forgetting.

I can't tell you how much I wish we could go on monthly payments.

 

[DVC SSR Owner]

Already paid on visa card!

 

[AKVHutch]

Usually, we pay before end of the year with the Disney Visa. Last year, we waited until February because we DVC needed to credit our account with the $200 for recommending a friend. We like to get the points from the Visa.

 

[jolia]

Monthly automatic debits to my bank accounts! Keep life simple i say (and have a drink!). Happy Holidays

 

[dianeschlicht]

Call me crazy, I don't like dues hanging over my head all year, so we pay all at once in January. I am waiting for the statement to arrive in the mail so we can write a check.

To be honest, if I was reminded every month of my dues, I might not always be looking at the resale sites to add more points!

But it happens silently with an auto transfer, so we never have to think about it EVER!

 

[pilferk]

With that assumption in hand, on my back-of-the-envelope analysis, the 1% immediate cash back is better than the 2.5% return on a $1,000 declining balance throughout the course of the year. On an equal monthly declining balance every month ($83), you'll earn a total of $13.83 at 2.5%. After taxes on the interest, you'd be below $10 (FWIW, I've never received an interest or other income statement from my Discover card or Disney VISA ). Again, I recognize that in this economic environment, this is more of a theoretical exercise than anything else since the numbers are so low. I just thought there was something that I was missing when folks are earning "alot" more than 1%.

That's a pretty good summation of what would happen in the course of one calender year.

The real advantage comes in year over year interest, though. That $10 in interest (using your hypothetical), that I earned , will earn additional interest each year.

Short term, the rewards are slightly better (though not as beneficial as liquid assets). Long term, the interest probably turns out better.

Both are good ideas, and likely which one you pick would depend on your spending habits, travel habits, and how likely you are to leave that interest along in your account to continue to compound.

 

[smangan10`]

I pay monthly. Auto-withdrawal. There's no extra charge or interest.

 

[SSR]

Short term, the rewards are slightly better (though not as beneficial as liquid assets). Long term, the interest probably turns out better.

Absolutely agreed, unless I take my 1% cash reward from Discover and place it in an interest-bearing account...

P.S. Not even sure if Disney takes Discover. That shows you how theoretical this whole exercise is to me... :rofl:

 

[Dacky619]

We pay ours off right away, but it is only a couple of hundred dollars, so it isn't a big deal.

 

[iloveokw]

Put them on our Disney Visa as soon as possible, always pay it off ...don't have to worry about it.

 

[AnnaS]

I pay as soon as the amount shows up on the website.

i actually applied my disney reward dollars about a month ago (close to $500). One or two days ago, I paid the balance on-line with my cc (let the rewards add up towards next year's dues again).

I also save a few dollars each week for it (my own envelope system) and by the end of the year - I am all set.

 

[magicmommy]

Pay all at once before mid February with Disney Visa!