Direct Purchase - Disney Visa Cap to 0% interest ($10,000)

[sethschroeder]

Anyone with knowledge:
I am seeing a cap of $10k per transaction on the Disney VISA for the 0% interest, I have also talked with the payment team at Disney and they said something about a $18k total cap on 0% (this person may have no actual knowledge though).

Has anyone had any issue going over these supposed caps? I am thinking if they charge 10k on multiple transactions it would also bypass any cap and there seems to be no limit except the credit limit on the account.

One final thing when paying off the Disney Visa do standard items get paid prior to the 0% interest items? I believe so by law that's required.

https://disneyrewards.com/app/uploads/sites/2/PremierGuide.pdf

 

[Marionnette]

Anyone with knowledge:
I am seeing a cap of $10k per transaction on the Disney VISA for the 0% interest, I have also talked with the payment team at Disney and they said something about a $18k total cap on 0% (this person may have no actual knowledge though).

Has anyone had any issue going over these supposed caps? I am thinking if they charge 10k on multiple transactions it would also bypass any cap and there seems to be no limit except the credit limit on the account.

One final thing when paying off the Disney Visa do standard items get paid prior to the 0% interest items? I believe so by law that's required.

https://disneyrewards.com/app/uploads/sites/2/PremierGuide.pdf

I don’t know about the $10K cap but to answer your second question:

Your credit card company will apply the minimum payments to all outstanding balances, usually to the promotional rate first if you have both regular charges and a promotional rate. Then any excess payment will be applied to the balance with the highest interest rate.

So, it’s important that if you carry a promotional rate and make additional purchases with the card, you want to make sure that you pay the equivalent of the minimum payment + all new charges to avoid any interest charges on the new purchases. The best way to avoid falling into that trap is to not use that credit card at all until the promotional rate has been paid off.

 

[sethschroeder]

I don’t know about the $10K cap but to answer your second question:

Your credit card company will apply the minimum payments to all outstanding balances, usually to the promotional rate first if you have both regular charges and a promotional rate. Then any excess payment will be applied to the balance with the highest interest rate.

So, it’s important that if you carry a promotional rate and make additional purchases with the card, you want to make sure that you pay the equivalent of the minimum payment + all new charges to avoid any interest charges on the new purchases. The best way to avoid falling into that trap is to not use that credit card at all until the promotional rate has been paid off.

Yup probably won't use the Disney Visa in meantime but figured I would just throw the question out there.

 

[Sandisw]

Yes, there is a cap but it is a single transaction...so, when I bought RIV, because we have two Disney Visa accounts, we spread it out over a month so that two of the charges were $10 K...once to each card...and then a month later, they billed the rest.

 

[Cubbiefan1734]

There is a 10k cap per transaction, but not a total cap other than your card's credit limit.

 

[LTJoeFlo]

Can someone explain why you should use a Disney Visa to purchase a direct contract? I am just not seeing any value in doing that.

I downgraded my card from premier to regular because there isn't any benefit. Am I missing something?

 

[Marionnette]

Can someone explain why you should use a Disney Visa to purchase a direct contract? I am just not seeing any value in doing that.

I downgraded my card from premier to regular because there isn't any benefit. Am I missing something?

6 months of 0% interest plus 1%-2% back in Disney Rewards dollars. Possibly not the best credit card rewards but the 0% interest for 6 months can help with cash flow and it’s a free loan if you pay it off before the end of the promotional period.

 

[sethschroeder]

Can someone explain why you should use a Disney Visa to purchase a direct contract? I am just not seeing any value in doing that.

I downgraded my card from premier to regular because there isn't any benefit. Am I missing something?

2% rewards with 0% interest for 6 months. There really isn't a better option that saves you as much plus you get the extra 6 months of not having to pay.

Seems more and more CC view DVC as a timeshare purchase and give you the lowest amount of reward possible. Really I don't know of another option that is better to purchase direct.

Now with the normal card it drops to 1% which likely matches all your other CC rewards for buying a timeshare (DVC) but you won't get the 6 month interest free (even your savings account likely earns something by just keeping the cash in it).

 

[gkrykewy]

Can someone explain why you should use a Disney Visa to purchase a direct contract? I am just not seeing any value in doing that.

I downgraded my card from premier to regular because there isn't any benefit. Am I missing something?

2% cashback is... not insignificant . The 0% gives folks some flexibility but the 2% is nice.
They have actually been adding some value to the premier recently. 5% back on groceries until 9/30.

 

[we"reofftoneverland]

2% cashback is... not insignificant . The 0% gives folks some flexibility but the 2% is nice.
They have actually been adding some value to the premier recently. 5% back on groceries until 9/30.

That’s great. How long have they been doing that on grocery?

 

[coasternut22]

I was told by my guide that the $10K cap per day was the most DVC could charge per day, not per card per day. This is why they spread the payments over different days. I asked if they could make all three payments on the same day, even on different cards, and he said no. My three payments were $9200 each, however the last payment was on a non-Disney card. Technically I went over the $18K (unverified) cap by $400 and it did not affect me getting the promotional financing for the entire $18,400 I put on the Disney card.

 

[LTJoeFlo]

Thanks for the replies. I used to be very militant with my Disney Visa. I haven’t used it in two years and have never used it for DVC. I only kept it for the exclusive pins and photo spot.

Seems more and more CC view DVC as a timeshare purchase and give you the lowest amount of reward possible. Really I don't know of another option that is better to purchase direct.

Yeah, you are probably right. I called DVC and asked how it would code on a credit card transaction prior to previous purchase. Chase views it as a travel related charge. I purchased last year with the Sapphire Reserve. We got the 50k point bonus plus 3% on the purchase. We are trying to go to Tokyo Disney (or DLP) and the rewards were enough for a couple of plane tickets. It has a high annual fee and no interest free though.

If you are looking for a really good interest free option, use Freedom Unlimited. No annual fee, 1.5% back on all purchases, 15 months no interest.

There are other cheap cards that provide better terms but, as you stated, I’m not sure if they code as travel or timeshare. I think Chase has a partnership with Disney.

 

[sethschroeder]

If you are looking for a really good interest free option, use Freedom Unlimited. No annual fee, 1.5% back on all purchases, 15 months no interest.

Had a Freedom Unlimited (got moved from an older Chase CC account) but had it closed when I consolidated my credit limit in to the Disney card. I didn't have a clue that it was 15 mo no interest might look in to calling them back to reopen that account actually. I mean its a .5% difference for an extra 9 months of keeping my money.

 

[Duckbug.Ducktales]

I was told by my guide that the $10K cap per day was the most DVC could charge per day, not per card per day. This is why they spread the payments over different days. I asked if they could make all three payments on the same day, even on different cards, and he said no. My three payments were $9200 each, however the last payment was on a non-Disney card. Technically I went over the $18K (unverified) cap by $400 and it did not affect me getting the promotional financing for the entire $18,400 I put on the Disney card.

Exactly, 10K per day is the limit they can charge per card. My guide was flexible and let me spread the payments by a few months.

 

[LTJoeFlo]

Had a Freedom Unlimited (got moved from an older Chase CC account) but had it closed when I consolidated my credit limit in to the Disney card. I didn't have a clue that it was 15 mo no interest might look in to calling them back to reopen that account actually. I mean its a .5% difference for an extra 9 months of keeping my money.

It’s only a .5% difference if you exchange your points for a cash equivalent (gift card / cash back).

For instance:
$20k purchase
Disney Visa: $20,000 x 2% = ($400 - $49 annual fee) = $351 in Disney dollars
Freedom Unlimited: $20,000 x 1.5 = 30,000 Unlimited points.

For us, it’s 8,900 points at Southwest for a one-way ticket to MCO (Usually $139 during the summer for us). The unlimited points would buy 3. International travel rates are better and tickets to London were 30k points one-way. Of course, you can exchange them for all kinds of travel related expenses. That is more valuable to us than the $351 Disney dollars.

 

[HappyDisneyWife]

That is more valuable to us than the $351 Disney dollars.

Absolutely!! I used my Chase Sapphire to buy a tiny Poly contract direct 3 years ago, and I still use it for our annual dues (also coded as travel). I would definitely upgrade to the Sapphire Reserve if I was going to make a large direct purchase on a CC for that extra point per dollar! I’ve redeemed miles/points for my husband & I to travel in business & first class overseas several times... tickets that would’ve cost us $6-13K/each!!!

Remember! Points always have the potential to be far more valuable than cash back.

I do get the 0%-6 month draw though. It’s a nice offer... and a great tool when used properly! And, yes, I do own the Disney Visa... but only because they sent me so many offers that they finally gave me one with the premier cash back promo on the no-fee card & I caved. It’s fun & gives special offers occasionally.

 

[ChimneyJim]

Are these limits new? Last September I charged nearly 15K in one transaction.

 

[sethschroeder]

Are these limits new? Last September I charged nearly 15K in one transaction.

DVC can do more I think its Chase limiting the 0% interest. Now they might not enforce it but its in the policy.

 

[ChimneyJim]

DVC can do more I think its Chase limiting the 0% interest. Now they might not enforce it but its in the policy.

Interesting. My entire amount was at 0%.

 

[sethschroeder]

Remember! Points always have the potential to be far more valuable than cash back.

Also can be worth less as well.

I do get the 0%-6 month draw though.

For this specific purchase its the benefit of that plus the 2% rebate in cash. I primarily was going where I could get the highest cash but the 6 months is a nice add-on.

In normal times I travel a ton for work so get a good amount of points through that for covering airfare. Although we haven't/won't be traveling outside the country much simply because of the little ones (had France trip planned this year but it got cancelled).