Disney Visa Question

[HLAuburn]

OK, so I just called Disney Visa TWICE within 5 minutes, and got two completely different answers to my question.

We plan on taking advantage of the 0% APR by putting our package balance on the card. (FWIW, our intro 0% on purchases ended last month). I asked the 1st rep if we made additional purchases on the card while the package was on there, what would a payment go towards. She said it would go towards the "lowest APR", meaning the 0% package. I explained to her that that defeats the purpose of the 0%, discourages people from making additional purchases (which I would think Visa would want them to do) etc, and she said that's "the way banks work" or whatever.

So then I called back with another question, and the 2nd girl I talked to said that because it is a Disney Visa promotion (not a balance transfer etc), the payment goes towards the purchases, since the vacation package is on "deferment" for 6 months. Makes sense.

So who's right, and why do I get different answers from different poeple?

Thanks!

 

[waspnest]

Well, I haven't had it long enough to even make a payment on it since putting my vacation on it, but my understanding is that payments apply to your regular balance first, only payments in excess of the "regular" balance will be applied to the promo balance. Here's the paragraph from the back of my statement:

"Grace Period for Qualifying Promotional Balances: You will not incur periodic finance charges on a qualifying promotional balance if you pay that balance in full by the specified expiration date. To avoid finance charges on new purchases when your New Balance includes a qualified promotional balance, pay your full New Balance minus your total qualifying promotional balances by the date and time your payment is due. However, if your statement shows that a minimum payment is due, we must receive at least that minumum payment by the date and time specified on your statement, even if your only balance consists of qualifying promotional balances."

 

[GPALANGE]

Waspnest is right. I charged our trip in August. It's due for payment in Feb 06. I've made other purchases on the card and pay it off every month minus the trip and it always goes toward my purchases. Why you got two answers who knows.

 

[tripplanner2]

I have had this problem with Chase on several occassions and I recently wrote a complant letter stating how frustrating it is that their employees are not all trained to the same ability. I got more than one answer on 3 different issues and each time I called and spoke with a rep got a different answer. It is very upsetting especially when I got charged finance charges because of an employees mistake and did not get double rewards when I was told I would. Luckily the finance charges were reveresed but I have to stay on top of that card every month. As for Chase doing something about it, NADA! Just a letter stating we are sorry for the inconvenience.

 

[AngieWin]

When I asked the same question, I was also told that payments go towards the lowest APR first. I may have to call and ask again. And check my statement

 

[HLAuburn]

When I asked the same question, I was also told that payments go towards the lowest APR first. I may have to call and ask again. And check my statement

Hey fellow NAKer!

When I called a few weeks ago, I actaully got the same response as you got. But after reading on these boards and booking or vacation, I thought I'd try one more time. It makes no sense that they would "discourage" you from making additional monthly charges by paying the 0% first and leaving a balance that accrues interest. Anyway, we'll see. I'm going to put the balance on the DV and use it as we usually do and see what happens. If for some reason the vacation gets paid off, I'll call them again.

Thanks everyone for the responses.

 

[swilshire]

We charged both our deposit and final payment for our Disney trip on the Disney VISA. When we pay each month, the current purchases are paid, then the remaining money is split between the deposit and the final trip payment.

That is a bit annoying since it effectively gives me about a month less time to pay off the trip, because the time limit on the deposit runs our earlier.

I also haven't found anything that tells the exact date the promo ends. I always liked the way Best Buy listed their special purchases, showing you exactly the date the promo expires.

Sheila

 

[HLAuburn]

We charged both our deposit and final payment for our Disney trip on the Disney VISA. When we pay each month, the current purchases are paid, then the remaining money is split between the deposit and the final trip payment.

That is a bit annoying since it effectively gives me about a month less time to pay off the trip, because the time limit on the deposit runs our earlier.

I also haven't found anything that tells the exact date the promo ends. I always liked the way Best Buy listed their special purchases, showing you exactly the date the promo expires.

Sheila

So your deposit is included as part of the 0% promotion? But it's not lumped together with your package balance? Hmmm....interesting. Our deposit just came on are statement and there's nothing "special" about it. Do I have to ask for the 0% ARP? Its not a big deal on $200, but for the balance, I'd really like the 0%.

Sheila- are your deposit and package listed in a separate area on your statement? And I like how they don't make the payoff date clear....maybe hoping you'll miss it? This Visa is a pain in the butt!

 

[AngieWin]

Hey fellow NAKer!

Hi to you too!!

I checked my online statement last night and our package was charged on that statement. I couldn't tell where the payment had gone. I think I get another statement in a few days and I will check then.

 

[JulieEck]

Before I booked anything, I called several times to WDTC and Chase trying to get the answers to these questions. What I finally got was that the promos will work similar to how Best Buy does it. I don't use the card for many purchases, but wanted to link to it at the resort, etc., but wanted to make sure doing that didn't mess up the promo. They told me that as long as I paid any new non-promo purchases in full the first month they are on the statement plus any minimum on the promos then I'll be fine. Sounds just like Best Buy, but it doesn't quite work that way I don't think.

Both the $200 deposit and the balance I paid are using the 0% promo. They are listed separately on the statement right under the Transactions section. Just below that you'll see "Qualifying Promotional Financing" and it lists both charges with the "Promo Start Date", "Total Qual Trans Amt", "Remaining Balance", "Expiration Date", "Deferred Finance Chg", "Daily Per Rate", and "Corr APR". The last three columns all have "NA" under them on both lines and there is nothing under the "Total Qual Trans Amt" column. I know from this section that my deposit has a remaining balance of $166.67 and it expires 4/1/06. Neither line lists a separate minimum amount due. My bill only has $23 min amt due with a total balance of $1,189.31. I'll be paying much more than the min, obviously, to pay it within the 6 months, but I'm not sure how they'll apply it. All to the promo that expires first, then to the second promo?

I think what I'll do after my trip is to send a payment (I pay bills electronically) for the amount charged for current purchases so that the amounts "match", then send in separtely my normal 1/6th amount for the promo balances. Does that make sense?

I'm sorry if I've confused anybody. It would be nice if it was more like Best Buy where they have a min for each promo and you simply send in money for new purchases plus the minimums on all your promos you have. Any extra they apply to the promo that expires first.

I will definitely be calling them if they "mess me up"! LOL!

 

[waspnest]

I also haven't found anything that tells the exact date the promo ends. I always liked the way Best Buy listed their special purchases, showing you exactly the date the promo expires.

Sheila

My statement has this right on it. Under the Qualifying Promotional Financing section (below all your current charges), it lists the start date, remaining balance and expiration date.