Disney credit card DVC 0% finance promotion

[Anthony1971]

I did an add on and had the whole thing charged to my credit card and had palnned on paying it in full. When I got me statement it said 2,500.00 qualify for 0% for 6 months. Last time I tried to take advantage of a 0 percent promotion is when I booked a cruise for a LOT of my family so they would have time to pay when I got my second statment there was interest I called and they told me what I pay comes off the promotion first... then I would be financing and paying interest on my normal purcahses
They did fix the mistake.....but did the same thing the next month so I just payed it after calling AGAIN
Has this problem been fixed and is anyone doing this now.....
I know if I call they will tell me not to worry
Hey free money is free money

 

[Wigit12]

I just did this for our AKV add-on and haven't had any problems at all.
I've paid the balance less the promo amount and no finance charges have appeared.

 

[hellerjw]

I don't know if this applies to the Disney/Chase card or not, but a lot of current credit card offers with 0% for X number of months state that payments will be applied to the lower interest rate balances first.

So, for example if you had $2500 under the 0% for 6 months rate and then charged another $500 for general stuff, all your payments would go against the $2500 balance first while interest charges acrue on the $500 balance. You would never hit the $500 (and growing) balance until the original $2500 was paid off.

That's how they get you. It is often hidden deep in the fine print, but I've caught it a couple of times with various offers and that is what drove me away from applying.

 

[tjkraz]

I don't know if this applies to the Disney/Chase card or not, but a lot of current credit card offers with 0% for X number of months state that payments will be applied to the lower interest rate balances first.

No, it doesn't apply. The terms of this offer specifically state that the DVC down-payment is interest free for 6 months and that payments will apply to all other charges and balances first.

 

[3DisneyKids]

No, it doesn't apply. The terms of this offer specifically state that the DVC down-payment is interest free for 6 months and that payments will apply to all other charges and balances first.

It may STATE that, but that is not what they do. My experience was the same as the OPs. The money I paid was first applied to my 0% purchase (in this case, DVC). Same thing happened when I booked the cruise. Yes, I called and complained and no one at Chase was able to deal with it. I suppose if I had hung in there and really demanded to speak with an even higher supervisor, etc. they might have been able to figure it out. But I ended up having everything paid for at the next statement, so it didn't matter that much and I just sucked up the finance charges on the one statement.

BUT I learned my lesson and will not do it that way again. Now I have a second Disney Visa that is only for cruises and add-ons. That way, the only balance on that card will be the 2500 which is at 0%. My "regular" Disney Visa gets paid in full each month regardless.

 

[tjkraz]

It may STATE that, but that is not what they do.

Don't shoot the messenger, here. I never vouched for their ability to correctly apply the offer--I simply repeated the terms of the 0% financing offer.

Last time I read the fine print it specifically stated that payments would be applied to other balances first. OP's post seems to bear that out. Whether Chase can apply that policy accurately for all cardholders is in their hands.

 

[Anthony1971]

Thank you for the responses....
My post would have better read if anyone has had any problmes..
I did and it was rectified in the past
it seems one person here had problems and the other has not
and one has read and understood the rules that chase may or may not understand themselves
True story-- Before I owned DVC I booked a pacakage at Coronado Springs and put in the Disney Visa to get the 0% as at that time if I knew it would not work I would have put it on a card that had cash back as I did not need the Disney rewards back then anyway when I called to ask why they told me this was not a Disney resort and even a manager told me this how could it be it was called coronado springs needelss to say I sent a check the next day
The best idea is to have two DCC which I do and if I knew I would get 0% I would have split the payment as it is just not worth the headache to make a few bucks in interest
unless there are at least a few people who have had postive expierences with this

 

[mommyoftwinfants]

They did the same thing to me, I emailed them and they said they were sorry but all payments go to the lower interest 1st. I also asked them if there was an address I could send the specific payment to and they told me nope. I made sure to tell them that I will not be using this card again to make my everyday purchases.

 

[Olaf]

Chase drives me nuts. I put a cruise on it last year, zero percent interest six months. I did it just to take advantage of the Disney reward dollars. Anyway, they charged me interest every month. I had to call and straighten it out every time. I gave up after four months and paid it in full. Imagine all the people who don't pay close attention to their bills.

 

[3DisneyKids]

Don't shoot the messenger, here. I never vouched for their ability to correctly apply the offer--I simply repeated the terms of the 0% financing offer.

Last time I read the fine print it specifically stated that payments would be applied to other balances first. OP's post seems to bear that out. Whether Chase can apply that policy accurately for all cardholders is in their hands.

Sorry if I came off as abrasive....not my intent at all.

 

[VLee]

Okay, my case is confusing. To start with I had a FIXED 2.99% balance on my Chase Disney. Before, I charged a downpayment (at 0% for 6 months), I called to ask if my payments would go toward the balance with 0% since I intended to pay off the downpayment charge before the 6 months and then be left with my balance at the fixed 2.99%.
I was told yes, it would be applied toward the lower interest. Upon getting more material, I read that it is NORMALLY applied to the lower interest, except for promo interest rates.
I was also told that it would not help to pay it off before the six months--that I needed to pay it off within 30 days after the promo rate ended.
I called them again and was assured that my payment would go toward the 0% and so I paid off the downpayment before the 6 months. ( Remember, I was supposed to have the balance stay at the 2.99 fixed rate.)

When I got my statement after the 6 months, I noticed that my 2.99 fixed rate had disappeared, and they had my balance up to 15%.
They acknowledged that I had paid off the downpayment before the 6 months. All this time, I had still made excess payments toward the 2.99 balance.
Then they told me my payments had gone toward my 2.99% balance, which had made the downpayment balance (0%) jump to 15.%
After heavy complaining, I was told it would be reviewed. Later, I got a letter in the mail telling me that they were making an exception and would put the remaining balance back to 2.99 for the life of the balance.
Whew! Lesson learned: Make sure you have no other balances (and charge no more) when you use this promo rate...
I tried to explain this to my DVC rep, who had encouraged me to use this method, but he did not understand all the trouble I had with Chase.

 

[poohmomof5]

Hello,

Just to let you know, I have had success with the 0% promo and using the Disney card for other purchases.

To be specific, I use my card and pay the balance in full every month. Recently I have charged 2 cruises and a Disneyland Trip to the card. I was hoping for the free 6 months for those expenses and it worked perfectly each time.

Each separate purchase had its own line on the bottom of my charge card statement. It stated the initial 0% balance, the remaining balance, and date that the 0% promo was over. It was very clear.

Every month I continue to charge regular purchases and pay those balances in full and maintain my full 0% promo balance. As soon as that promo period is up, I paid that balance off in full and they always apply it to the balance of the promo that ends the soonest. Just to be sure, I just checked my statement and I have never paid interest on the card.

Again, this has worked for me for 3 different trips over the past 18 months and never a problem. I wonder if you are having issues because you are running 2 different promos at once? Good luck...the only reason I responded was to let you know that someone has had success. (FYI, I work for a competitor bank...so no reason to fudge the truth, I just love my Disney points so I use the card.)

Poohmom

 

[wildernessDad]

You get 0% on the down payment portion of the DVC purchase. That is what I was told from a couple of sources at Chase.

 

[dizzneebabe]

Look at the terms for promotional rates. We used it for the DVC down payment and we use it for daily purchases, paying those in full every month. I read the fine print carefully and it says (not quoting it right now)
in order to avoid finance charges when you are carrying a promo balance AND have new purchases, pay your "new balance" less the promo balance. That's what I'm doing and I haven't had a problem (2 statements worth). But in general, they DO pay down the lowest interest first. If you were carrying a balance with a fixed rate and then charged DVC with 0%, your payments would be applied to the DVC purchase first, thereby accruing more interest on the fixed rate balance. The only way to avoid that is to pay the card off first before charging anymore.
Hope that helps.

 

[Anthony1971]

Okay I called Disney CC last night and I was "assured" that I only needed to pay the amount above the 2500 promotion and anything I pay above this would apply to the 2500 Example -- if my balance was 5000 and I paid 2600 I would have a balance of 2400 under the 0% promotion until the expiration date.
This is thier words I am glad to see a few people are having luck with this.
To answer the question yes DVC purchases are eligable for a promotion what the details are I am not sure I do not think that I was suppose to have 2500 at 0% as I only added 50 points I know that when I purchased my full contract it was only 10% of our purchase and being we sent a check for 500.00 and the promotion was applied to the down paymnet nad we used some rewards dollars then the rest was charged it was a small amount so we just paid it but we did payoff our contract with the Disney card and got a few free meals at Disney that year but never 0%
I will update on what happens with me as I do view my statement online and will be sending a check minus some part of the 2500 shortly

 

[TenThousandVolts]

I have made large purchases with 0% offers before and I always keep that card separate from everyday purchases to avoid confusion. I pay the card to zero- make the 0% purchase, then I put the card in a drawer until the thing is back to zero. You shouldn't have to do it this way - but I do it for my own sanity.

 

[mommyoftwinfants]

This is the email response I got from them.

When a payment is received, it is applied to the previous
cycle's balance before current cycle charges in the
following manner, but it is not limited to this order:

1. Promotional balance finance charges (including
promotional rate balance transfer fees)
2. Promotional principal balances from lowest APR to
highest APR (Promo balances at the same APR will be paid
oldest to newest.)
3. Any remaining finance charges and fees (including
contract rate balance transfer fees, including any debt
deferment program - i.e. Payment Protector)
4. Any merchandise balance at the standard APR, paying the
oldest balance first (An introductory 0% APR is considered
to be a standard APR.)
5. Any non-promotional cash advance balances.
6. After all previous balances are paid; any remaining
payment amount will be applied toward any transactions
that appear on your next month's statement.

I have never carried a balance on my card, I always pay it before the next statement and the payments I made were put towards the promo.

 

[SSDonut]

We did a DVC add-on last month, and when the Disney Visa bill came, the $2500 down payment was listed under the promotional 0% interest section. However, it was also reflected in the total (due) amount.

I called and asked how they would know what to apply my payment to (we pay in full each month) and the rep said to just pay the balance minus the $2500. I was skeptical (too much reading the Dis, I guess!!), so I asked her again, putting it a different way and she insisted it wouldn't be a problem, that if I sent in an amount $2500 less than what I owed it would be fine.

I know you're all expecting me to tell you they screwed up, but it has been Fine--for 2 cycles now. . .now I just have to watch about the deadline for repayment of the interest-free portion because I've also read that that doesn't work as you would expect and people have been charged interest even though their intention was to pay it off before the promotion ended. . .I might just take 5 months 0% interest to be safe. . .

 

[dismarkle]

My experience with the 6 month 0% financing. I'm in the habit of paying my credit card balance in full to avoid finance charges.

My example. I made charges for $7,076.54 in the same statement period I paid for my qualifying Disney Vacation Package with my Disney Visa. I assumed I should be able to pay my balance in full less the $1,907.64 charge for our Disney Vacation and receive up to 6 months of 0% APR for that amount of my balance. In my opinion that is the only way to honor the offer as represented in the advertising materials.

But according to a Chase representative when I asked about this:

Payments are applied to balances with lower APRs before balances with higher APRs. unpaid finance charges and fees associated with each balance type are generally paid first. We then allocate any remaining payment amount to the principal balances beginning with lower-APR balances and ending with higher-APR balances. Payments are generally applied last to standard cash advance balances.

The net is paying all of my other balances results in me having $1,907.64 on my Disney Visa Card with the highest rate of interest possible being charged to me by Chase. (Because Chase has decided to pay down my 0% vacation balance first )

When I raised the issue further with Chase I got this email:

Our method of applying payments is a business standard
used by many card issuers. We regret any inconvenience
this situation may cause you.

We appreciate you taking the time to suggest ways to
improve our services and have forwarded your comments to
the appropriate department for consideration.

I'm definitely not feeling the magic.

 

[VLee]

I agree--it is very misleading and I even checked with Member Services and the Chase before putting this on the 6 month promo.
Works great IF this is the only charge on card. In my case, it was further complicated because I had a special FIXED 2.99% balance for the life of the loan and was "assured" that if I paid the Disney 0% balance off in six months, that my fixed rate would not be affected.
Ha! And I even called several times before paying the balance of the 0% to verify this. And paid off my regular payment amount in addition to the Disney charge.
They ended up applying my payment (to the 0%) to the 2.99% balance, leaving me with outrageous interest rate on the balance (after being "told" that this would not happen). I complained and got a letter from them reversing it, saying that as a one-time favor they were going to let me keep the balance on 2.99%.
Headaches!!!! Never again--unless I have Zero balance to begin with.