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

[SL6827]

I assume you have to report any cash back to the IRS, points or other rewards, no?

 

[SL6827]

I assume you have to report any cash back to the IRS, points or other rewards, no?

Right? I don't turn in my Disney Visa points as income? Right?

 

[LTJoeFlo]

I assume you have to report any cash back to the IRS, points or other rewards, no?

Depends
Rewards would only be taxable when they are given with no stipulations. Examples would be credit card fees or spending requirements.

A Disney Visa only provides rewards when purchases are made. So, you don’t need to inform the IRS.

 

[sethschroeder]

I assume you have to report any cash back to the IRS, points or other rewards, no?

It is deemed a rebate not income. If you recieve an actual check from the company than its viewed as income.

No tax expert though.

 

[KAT4DISNEY]

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.

Cashback? I thought the Disney card gave rewards back to be used towards Disney purchases not cashback. When did that change or did I completely misunderstand the card?

 

[sethschroeder]

Cashback? I thought the Disney card gave rewards back to be used towards Disney purchases not cashback. When did that change or did I completely misunderstand the card?

Yes technically Disney cash. Having MFs though it is easily used.

So correct not actual cash just cash value.

 

[Louis morrell]

When We purchased, Disney charged the purchase in two transactions 2 weeks apart.

 

[KAT4DISNEY]

Yes technically Disney cash. Having MFs though it is easily used.

So correct not actual cash just cash value.

Ok. Still Disney rewards. Thx!

 

[sethschroeder]

When We purchased, Disney charged the purchase in two transactions 2 weeks apart.

They will look to charge you more quickly but you can ask for a longer pay period. Not sure I posted in this thread but mine will be divided out at 30/60/90 days to pay the balance. You can call as well to change the CC if needed for different charges (in case you don't have a CC with enough limit and are wanting to leverage a 0% interest for X months).

 

[gkrykewy]

Cashback? I thought the Disney card gave rewards back to be used towards Disney purchases not cashback. When did that change or did I completely misunderstand the card?

Yes- as others have noted, still Disney rewards, which are same as cash for our family (and if you have DVC dues). Although I usually just apply them to airfare as a statement credit so that we earn the full 2% on all Disney purchases.

 

[Doberge]

So the $10k is Disney's limit but I'm still limited by my maximum credit allowed, correct?

I could move credit from one card to our Disney to get to $10k, but is this really necessary? Are they open to something like five smaller payments over four weeks? Or would I need to sign up for financing and just pay it off over first month or two?

 

[sethschroeder]

So the $10k is Disney's limit but I'm still limited by my maximum credit allowed, correct?

I could move credit from one card to our Disney to get to $10k, but is this really necessary? Are they open to something like five smaller payments over four weeks? Or would I need to sign up for financing and just pay it off over first month or two?

Disney will charge the same CC as many times as needed to get to the total due on the same card if you want.

$10k is the per charge Disney Rewards Visa cap on getting 0% interest (although doesn't sound like they worry about the cap actually in practice). You are limited by your credit limit on the card but if you have other chase cards (or possibly if you open more accounts with them - I have not done this) you can possibly transfer some of your credit limit to the Disney Visa.

 

[CherryDB]

They will look to charge you more quickly but you can ask for a longer pay period. Not sure I posted in this thread but mine will be divided out at 30/60/90 days to pay the balance. You can call as well to change the CC if needed for different charges (in case you don't have a CC with enough limit and are wanting to leverage a 0% interest for X months).

Quick question: if you ask for the 30/60/90 split payment using your disney cc do you get 6 months free financing for each part? Or the 6 months start from inital purchase?

 

[Sandisw]

Quick question: if you ask for the 30/60/90 split payment using your disney cc do you get 6 months free financing for each part? Or the 6 months start from inital purchase?

From each part.

 

[CherryDB]

From each part.

Thats great! So its max of 9 months from initial purchase 0%. Thank you!

 

[Sandisw]

Thats great! So its max of 9 months from initial purchase 0%. Thank you!

For that last charge, sure does! It is nice to know that you can space it out,

 

[Lorrie7249]

has anyone experienced any issues getting the Disney Visa card 0% for 6 months on a second (add-on) DVC purchase? In other words - Purchase points in Jul/Aug 2020, get 0% for 6 months and pay off in full by the 6 months timeframe. Then, purchase additional points (after 1st is paid in full) and not get the 0% for 6 months?

 

[Red Dog Run]

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 did mine this way: deposit of 10%, 1/2 of remaining the next month and 1/2 the month later. This bypassed the 10K limit.

 

[DebLovesPooh]

has anyone experienced any issues getting the Disney Visa card 0% for 6 months on a second (add-on) DVC purchase? In other words - Purchase points in Jul/Aug 2020, get 0% for 6 months and pay off in full by the 6 months timeframe. Then, purchase additional points (after 1st is paid in full) and not get the 0% for 6 months?

I did exactly that and had no problems getting the 0% for both purchases.

 

[Lorrie7249]

I did exactly that and had no problems getting the 0% for both purchases.

thank you so much for this feedback. i was on the phone for half an hour with Chase this morning. Service rep needed to talk to "a colleague" to figure out why my recent statement did not include the "interest saving balance" as the last purchase always did. Answer came back with something to the effect of "0% only applies to first purchase" (which is BS, because there were something like 4 charges the first time i did this last summer). This newer purchase is going to split across 2 disney visas and over 90 days. I read through the Disney rewards website section that discusses DVC purchases and the 6 mos 0% financing with the service rep, and no where does it say only the first purchase, -- actually has the words "...including add ons..." both purchases are sizable, but from what I've read on here there are only supposed to be caps on individual charges not total amounts.

I am supposed to get a call back after they "look into it".