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

[Lorana]

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

Yes, and you can balloon the payment. For example, on my last add-on, I did Deposit only upfront, $500 at 30 days, $500 at 60 days, and remaining balance at the end, so that I would get 9 months 0% interest for the most money for longest period I could. Also, if you time this to just after your statement cut, you will USUALLY - but NOT always - get an extra month.

Chase has been WILDLY inconsistent with defining the 6 month period, and some instances I got 7 months, not 6. My billing cycle is on the 19th of the month. I timed my purchase to occur on the 22nd so I'd be in a new billing cycle, which actually gave me a bonus month, as Chase *usually* calculates your 6 months from the CLOSE of your billing cycle, giving you a bonus month. However, I've had 2 instances where they calculated the 6 months from the MONTH in which the charge was made (so, for example, a charge made on 7/22/2020 needed to be paid by 2/16/2021 - giving me almost 7 months! But then my charge made on 8/22 ALSO had an expiration date of 2/16, which is just shy of 6 months). Investigation into this resulted in them telling me that this was "standard practice" to calculate from the month in which the charge was made, but my experience has been that they usually calculate by which BILLING CYCLE it is in.

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 have done numerous small add-ons and have never had an issue getting the 0%.

 

[DebLovesPooh]

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".

What a headache! I’m sorry for that. I have a total of 4 contacts and got the 0% every time, and spread out the cost for each one across 2-3 payments. I usually got 6 months from the billing cycle, but didn’t pay that much attention as I had them paid off by the 5th month.

Deb

 

[eandt]

I am torn between resale and direct (leaning resale now that the minimum purchase to get blue card has increased to 125). Tell me how this might benefit me enough to switch back to consider direct ......

 

[starry_solo]

I am torn between resale and direct (leaning resale now that the minimum purchase to get blue card has increased to 125). Tell me how this might benefit me enough to switch back to consider direct ......

will you be financing the resale purchase or paying the entire amount in cash?

 

[DebLovesPooh]

I am torn between resale and direct (leaning resale now that the minimum purchase to get blue card has increased to 125). Tell me how this might benefit me enough to switch back to consider direct ......

If you’re learning towards resale, then I don’t think the benefit of this is enough to encourage you to buy direct. I suggest this method only for people who know they only want to buy direct. If you want to save money by buying resale, then you should, and I wouldn’t let this 0% sway me.

 

[Lorana]

I am torn between resale and direct (leaning resale now that the minimum purchase to get blue card has increased to 125). Tell me how this might benefit me enough to switch back to consider direct ......

I'd say it'd only benefit you if the other benefits of direct matter to you: most importantly, the ability to use your points at Riviera and all future DVC resorts. If you are purchasing enough to qualify for the blue card, then is the AP discount, other discounts, members only events, and ability to trade for cruises and Adventures by Disney (yes, I know those are bad values, but this is more about asking yourself if having that option rather than renting out and paying cash for those is worth it to you). Do you want to purchase a Guaranteed Week (then you'd need to purchase direct).

If the answer is YES, then consider this extra gravy. You get 2% back on your purchase and 0% for 6 months from when the purchase is made on your account (and Disney will let you spread it out over 90 days to give you 6-9 months financing).

 

[eandt]

will you be financing the resale purchase or paying the entire amount in cash?

I was not planning to finance and if I went 0% would pay it off prior to the due date.

 

[eandt]

I'd say it'd only benefit you if the other benefits of direct matter to you: most importantly, the ability to use your points at Riviera and all future DVC resorts. If you are purchasing enough to qualify for the blue card, then is the AP discount, other discounts, members only events, and ability to trade for cruises and Adventures by Disney (yes, I know those are bad values, but this is more about asking yourself if having that option rather than renting out and paying cash for those is worth it to you). Do you want to purchase a Guaranteed Week (then you'd need to purchase direct).

If the answer is YES, then consider this extra gravy. You get 2% back on your purchase and 0% for 6 months from when the purchase is made on your account (and Disney will let you spread it out over 90 days to give you 6-9 months financing).

Some of those things do interest us but when they bumped the minimum # to 125 to buy in that kind of made it less attractive. We are older buyers. We have been to WDW at least 25 times over the past 27 years plus a couple of cruises. We took a few years off but then took 2 trips on rented points in 2019 and we are hooked again and probably wouldn't be happy going back to moderates. Our kids are adults but no grandkids on the horizon so only looking for a small 100 point or less contract for now to get our feet wet. We were pretty much set on direct late in 2019 Early 2020 but didn't pull the trigger before the flu hit. We were thankful we hadn't up until about a month ago when we started discussing it again. That is when we found out about the 125 which led us back to combing the resale sites. Put in a couple of offers but no success so far, thought if this was enough of a savings we would look back at direct but other than a couple hundred Disney Rewards dollars and hanging on to our money for 6-9 months it doesn't appear that is the case.

 

[Ginamarie]

Hmm.
we just charged $26,000 to our Disney visa for our Riviera points. It was split over four charges on different days.

My DVC rep said she could not charge more than $10,000 per day, but when I called Disney Visa, they said they had no such limitation. Disney Visa did not say there was any kind of cap to the 0% financing, just that the card would know each DVC purchase qualified for the promotion and we wouldn’t need to call or anything.

So far, only the first charge ($7500) showed up on my statement. It did show the 0% financing. We paid most of that charge off already but added a lot to the balance since then. We plan on paying it all off before the 6 months is over but I’m still curious how it will all pan out. I’ll be really upset if they tell me the remaining charges don’t qualify for 0%

 

[Rolem]

Disney Visa is just a branded Visa card. You are really dealing with JP Morgan Chase. You can charge any amount up to your credit limit. I am not sure where the $10K limit came from but it is not correct. Keep in mind, at the present, the time value of money is zero so 0% financing is not much of a bargain. When going direct, I would focus on maxing out the rewards. Right now, I would say the Citibank double cash back rewards is one of the best bets for buying direct.

 

[KeithSS]

If you put the charge on your Disney Visa to purchase the points, do you get the rewards points for that charge? So if I put $10k on my card to purchase the points, I would get the Disney rewards points for that $10k in addition to the 0% for 6 mo?

 

[Rolem]

The Chase Disney Visa rewards at a 1 to 1 rate (1% in Disney dollars), whereas a card like Citi double cash rewards at 1 to 2 rate (2% cash back) -when you pay off the charge.

 

[Sandisw]

Disney Visa is just a branded Visa card. You are really dealing with JP Morgan Chase. You can charge any amount up to your credit limit. I am not sure where the $10K limit came from but it is not correct. Keep in mind, at the present, the time value of money is zero so 0% financing is not much of a bargain. When going direct, I would focus on maxing out the rewards. Right now, I would say the Citibank double cash back rewards is one of the best bets for buying direct.

i think the $10k is DVDs limit. I was told same
Thing when considering my other CC.

 

[Rolem]

I am not sure about that. I just purchased (2 weeks ago) some CCV points and had them run a $20K charge through. No issues with this on their end or mine.

 

[npatellye]

If you put the charge on your Disney Visa to purchase the points, do you get the rewards points for that charge? So if I put $10k on my card to purchase the points, I would get the Disney rewards points for that $10k in addition to the 0% for 6 mo?

Yes.

 

[DebLovesPooh]

Hmm.
we just charged $26,000 to our Disney visa for our Riviera points. It was split over four charges on different days.

My DVC rep said she could not charge more than $10,000 per day, but when I called Disney Visa, they said they had no such limitation. Disney Visa did not say there was any kind of cap to the 0% financing, just that the card would know each DVC purchase qualified for the promotion and we wouldn’t need to call or anything.

So far, only the first charge ($7500) showed up on my statement. It did show the 0% financing. We paid most of that charge off already but added a lot to the balance since then. We plan on paying it all off before the 6 months is over but I’m still curious how it will all pan out. I’ll be really upset if they tell me the remaining charges don’t qualify for 0%

Every charge will qualify for the 0% financing. I don’t think you have anything to worry about.

 

[DebLovesPooh]

Disney Visa is just a branded Visa card. You are really dealing with JP Morgan Chase. You can charge any amount up to your credit limit. I am not sure where the $10K limit came from but it is not correct. Keep in mind, at the present, the time value of money is zero so 0% financing is not much of a bargain. When going direct, I would focus on maxing out the rewards. Right now, I would say the Citibank double cash back rewards is one of the best bets for buying direct.

It is the best deal if you pay it off that month. However when you start paying interest on that purchase, the interest more than outweighs the 2% cashback you’re getting or the 1% additional cash back you’re getting over the Disney visa.

 

[Ginamarie]

It is the best deal if you pay it off that month. However when you start paying interest on that purchase, the interest more than outweighs the 2% cashback you’re getting or the 1% additional cash back you’re getting over the Disney visa.

you don’t pay interest until the six months are over. That’s the point of the promotion.
Normally I pay my balance in full every month. Now, I have six months to pay off this large amount. They won’t get any interest money from me.

 

[Lorrie7249]

I am still waiting on a call back from chase. As i mentioned previously, when i purchased points for CCV last summer, it was split into something like 3 different charges over two billing cycles, and each charge fell under the 0% for 6 months promotion. However, with this most recent RIV purchase of points in Feb. my statement did not reflect the 0% for 6 months promotion for the deposit amount. The charge came through the same way, as "DVC escrow", but chase did not reflect the 0%. I called ASAP, as there will be several large charges to come over the next few billing cycles. I am NOT paying interest. I have the amount needed to cover if chase stonewalls, but boy will i be

 

[Ginamarie]

I am still waiting on a call back from chase. As i mentioned previously, when i purchased points for CCV last summer, it was split into something like 3 different charges over two billing cycles, and each charge fell under the 0% for 6 months promotion. However, with this most recent RIV purchase of points in Feb. my statement did not reflect the 0% for 6 months promotion for the deposit amount. The charge came through the same way, as "DVC escrow", but chase did not reflect the 0%. I called ASAP, as there will be several large charges to come over the next few billing cycles. I am NOT paying interest. I have the amount needed to cover if chase stonewalls, but boy will i be

So frustrating!

my deposit for the Riviera contract did reflect the 0% but I have to check on the other charges now!