Disney VISA 0% financing question....

[bas71873]

I have a Disney Visa, rarely use it because I get better cash back w/my Discover card, BUT, the 0% interest financing on a Disney vaca, how does that work exactly? Say I'm going in October of this year (which I hope to be doing), if I book my trip NOW when does the 6 month period of 0% interest begin? Today, the day of booking or when I actually "pay in full" for my vacation? Any help or explanation will be greatly appreciated!

 

[tzolkin]

The day you make the payment.

If you book a package, you will have to make a $200 deposit at booking. That's 6 mos from that date. You have to pay your balance 45 days prior to your trip, so you will have 6 mos from that date for the balance.

If you book room only, you have to make a 1-night deposit. The rest is due on arrival (but if you want to redeem your points you will have to pay for it in the billing cycle before your trip).


*You also get the points when you put the charge on your account, not when you pay it off.

 

[Magix]

Just to clarify, you'll only get the 0% when you book a package, not when you book room only.

 

[a1tinkfans]

Yup, as Tzolkin stated.

I JUST got a new solicitation for the disney visa this weekend. Addressed to our "family" and our address. It offers $200 for the first purchase, no fee, yada yada....I already have one, the dh has one also.....GEE< I would LOVE to get that $200....it says New cardmembers only and ONLY our name address/////
I wish there was a way around it....like maybe putting it under my business?????Hmmm that is a thought but If I recall it has to then be a business card with them. Figures!

 

[disneyfan55]

I have a Disney Visa, rarely use it because I get better cash back w/my Discover card, BUT, the 0% interest financing on a Disney vaca, how does that work exactly? Say I'm going in October of this year (which I hope to be doing), if I book my trip NOW when does the 6 month period of 0% interest begin? Today, the day of booking or when I actually "pay in full" for my vacation? Any help or explanation will be greatly appreciated!

You will most likely (if your deposit is before the 45 day pay in full date) have 2 different 6 month periods. One for the deposit and one for you payment in full. They will be 2 items with expiration dates on your bill. One thing good with the Disney Visa is not only do you have the 6 months zero interest, it doesn't accrue interest. That is if you can't pay it off in the 6 months, you will only pay interest on the forward balance not the past history (like Home Depot does for example) Also, if you make any additional purchases as long as you pay those other purchases in full, no interest either. It's a good deal, I've kept the money for the trip in a savings account(not great rates now but something) and made the necessary pmt only and paid in full by the date on the statement!

 

[bas71873]

THANKS for all the tips. I was just curious how it worked. I have my vaca savings account going and hoping for a nice tax return (fingers crossed) so that I DON'T have to use the finance option when I pay in full 45 days out. We will see what happens . Nice to know it's an option though!

 

[disneyfan55]

THANKS for all the tips. I was just curious how it worked. I have my vaca savings account going and hoping for a nice tax return (fingers crossed) so that I DON'T have to use the finance option when I pay in full 45 days out. We will see what happens . Nice to know it's an option though!

You're welcome! We do it and keep the money in a savings account for the zero interest timeframe.

 

[momiu]

We are going to Disney with our children for the first time in about 2 weeks. We have had a Disney Visa card for many years accumulating points in anticipation of our first trip. When I paid off the balance of our vacation, I took advantage of the 6 mos 0% interest offer from our Disney Visa. Imagine my surprise when I opened this month's statement and see a $33 service charge. We do not ever carry a balance and always pay for purchases in full with each statement. A call to Disney Visa explained that you can take advantage of their offer ONLY if you make no other purchases on the card. This was not explained to me on the front end. When we received last month's statement we had holiday charges so I subtracted our 0% balance and paid them what we owed for new purchases. They explained to me this morning that all monies are applied to lowest balances first so my 0% means nothing. I am being charged interest on my purchases and am paying off my 0% balance. Apparently this will change sometime in March as the government has passed legislation no longer allowing them to rip people off in this way. When I saw this thread I wanted to pass along my story as I don't want anyone else to be deceived by this "great" offer.

 

[disneyfan55]

We are going to Disney with our children for the first time in about 2 weeks. We have had a Disney Visa card for many years accumulating points in anticipation of our first trip. When I paid off the balance of our vacation, I took advantage of the 6 mos 0% interest offer from our Disney Visa. Imagine my surprise when I opened this month's statement and see a $33 service charge. We do not ever carry a balance and always pay for purchases in full with each statement. A call to Disney Visa explained that you can take advantage of their offer ONLY if you make no other purchases on the card. This was not explained to me on the front end. When we received last month's statement we had holiday charges so I subtracted our 0% balance and paid them what we owed for new purchases. They explained to me this morning that all monies are applied to lowest balances first so my 0% means nothing. I am being charged interest on my purchases and am paying off my 0% balance. Apparently this will change sometime in March as the government has passed legislation no longer allowing them to rip people off in this way. When I saw this thread I wanted to pass along my story as I don't want anyone else to be deceived by this "great" offer.

I have done this a number of times and that's not the way it works. The 33 has to be something else not. No ServiceCharges are made for that. Are you talking about interest? That would be on another balance carried over and not paid off. I just got through paying off a zero promo, used the card, paid that in full every month and had NO interest. By the way welcome to the boards.

 

[tzolkin]

We are going to Disney with our children for the first time in about 2 weeks. We have had a Disney Visa card for many years accumulating points in anticipation of our first trip. When I paid off the balance of our vacation, I took advantage of the 6 mos 0% interest offer from our Disney Visa. Imagine my surprise when I opened this month's statement and see a $33 service charge. We do not ever carry a balance and always pay for purchases in full with each statement. A call to Disney Visa explained that you can take advantage of their offer ONLY if you make no other purchases on the card. This was not explained to me on the front end. When we received last month's statement we had holiday charges so I subtracted our 0% balance and paid them what we owed for new purchases. They explained to me this morning that all monies are applied to lowest balances first so my 0% means nothing. I am being charged interest on my purchases and am paying off my 0% balance. Apparently this will change sometime in March as the government has passed legislation no longer allowing them to rip people off in this way. When I saw this thread I wanted to pass along my story as I don't want anyone else to be deceived by this "great" offer.

I have taken advantage of this several times and this has not been my experience. My payments were applied to my purchases with interest first, not the 0% promotional charges.

We have never carried a balance (other than the 0% trip purchases) and have never paid $1 in interest or any finance/service charges.


I know some cards apply payments to the lowest interest purchases, but this has not been the case with the Disney Visa.

 

[disneyfan55]

I have taken advantage of this several times and this has not been my experience. My payments were applied to my purchases with interest first, not the 0% promotional charges.

We have never carried a balance (other than the 0% trip purchases) and have never paid $1 in interest or any finance/service charges.


I know some cards apply payments to the lowest interest purchases, but this has not been the case with the Disney Visa.

Exactly nor have I ever heard anyone else have the problem of service charge (I don't even know if it's interest that they are talking about) A service charge is something else.

 

[momiu]

I am really frustrated and am hoping that you all can help. Here is my scenario and I hope that I can explain it so it makes sense. I have received a finance charge on my current Disney Visa statement for $33.03 so I called them this morning at customer service. I was told that I am being charged this finance charge as my account has not been paid in full. On last month's statement due 01/07 I took my total balance owed and subtracted my qualifying promotional financing 0% balance and sent them that amount. Or, in other words, I paid them what we had purchased for the month excluding the amount I understood to be at 0% interest for 6 months. They told me today (two different people not one) that my payment was applied first to my 0% balance and therefore I am being charged for my purchases. My point blank question to customer service was so that my 0% offer means nothing if I charge anything else and his reply was "yes, if you buy anything else then you really don't have a 0% offer." They went on to say this will change when new legislation takes effect in March and they will no longer be able to do this to consumers.

What do you all think about this? I am hoping that I can get this corrected as it sounds as if you have had different experiences. It is not so much the $33 as it is the principal. Here I have been very excited about our trip and now I have a bad taste in my mouth. As I have sat and stewed about it this morning I remember specifically calling to inquire before I mailed off our last payment so this would not happen and now they have charged me a finance charge. Any suggestions as to what I should do now? I appreciate you all letting me vent, Nina

 

[momiu]

Thank you ladies so much!! Once I cooled down and pulled past statements I called Chase Disney Visa again. I spoke with Rachel in customer service who told me exactly what you all said to be true. The men this morning were wrong in what they told me. She is removing all finance charges and sending me a letter reflecting that error. Apparently the Disney Visa is the only Chase card that works this way with the 0% offer on trip financing. We are charter members and have had their card since day one of offering so she was much nicer and handled everything for me. She is also going to inform those other two customer service agents of their error.

Now that I have all that out of the way I can enjoy my day and continue to plan our trip. We leave in 13 days and the children are so excited. As we live in SW Michigan we are hoping for warmer weather and sunshine.

Thank you all again for helping me solve this dilemma, Nina

 

[disneyfan55]

Thank you ladies so much!! Once I cooled down and pulled past statements I called Chase Disney Visa again. I spoke with Rachel in customer service who told me exactly what you all said to be true. The men this morning were wrong in what they told me. She is removing all finance charges and sending me a letter reflecting that error. Apparently the Disney Visa is the only Chase card that works this way with the 0% offer on trip financing. We are charter members and have had their card since day one of offering so she was much nicer and handled everything for me. She is also going to inform those other two customer service agents of their error.

Now that I have all that out of the way I can enjoy my day and continue to plan our trip. We leave in 13 days and the children are so excited. As we live in SW Michigan we are hoping for warmer weather and sunshine.

Thank you all again for helping me solve this dilemma, Nina

Glad it worked out for you!! It is a good deal with the zero interest! As long as you pay the remaining charges or the min pmt due (if greater than the total of other charges) you are fine!! Have a great time in WDW. We are there in 3 Weeks!! (actually we leave cold NJ in 3 weeks from today)

 

[bas71873]

momiu - glad you got that worked out!

 

[poohangel]

Fast forward to today... I just received my bill and the same thing is happening to me now. I had a finance charge of $13.00. I paid in full everything except the deposit that was for my disney vacation. I called Visa and he says that the law was changed in February and that I had to pay the full amount to get my 0% financing. ?How can you have 0% financing for 6 months on a package if you have to pay it off immediately. Makes no sense at all.

momiu - glad you got that worked out!

 

[hsmamato2]

I JUST got a new solicitation for the disney visa this weekend. Addressed to our "family" and our address. It offers $200 for the first purchase, no fee, yada yada....I already have one, the dh has one also.....GEE< I would LOVE to get that $200....it says New cardmembers only and ONLY our name address/////
I wish there was a way around it....like maybe putting it under my business?????Hmmm that is a thought but If I recall it has to then be a business card with them. Figures!

We have 3 disney visas with that great deal- I never saw anything that said new members only......

 

[Tanzanite]

Hi i spoke to Chase this morning .I charged a package with airfare they took airfare & insurance for deposit. The lady at Chase told me due to credit card reform you now have to make a minimum payment based on card balance each month .I have used my card for other purchases this month so i will make sure to write 2 checks one to pay off monthly charges & other for interest free account next month i will use different card so not to confuse them as i have had payments applied to interest free portion then i owed interest they did take it off the interest charge they dont make it clear .

 

[PrncesKMW]

Question for those of you well-versed in the Disney Visa card - can I pay for the $200 deposit for a package on a different card, pay the balance due on the package 45 days out with my Disney Visa, and still receive the 0% APR for 6 months?

My Disney Visa expired due to inactivity, so I had to re-apply - will take about 15 days to get a new card. I want to book the free dining ASAP though, as I'm afraid our resort of choice will be booked.

Any help you can offer is appreciated!

 

[disneyfan55]

Question for those of you well-versed in the Disney Visa card - can I pay for the $200 deposit for a package on a different card, pay the balance due on the package 45 days out with my Disney Visa, and still receive the 0% APR for 6 months?

My Disney Visa expired due to inactivity, so I had to re-apply - will take about 15 days to get a new card. I want to book the free dining ASAP though, as I'm afraid our resort of choice will be booked.

Any help you can offer is appreciated!

Yes, each of the transactions counted as different items and were based on the 6 months from the time you charged it. It looks like Disney visa (from the above posts) has changed policy and charges interest but I only know from my experience in past years.