Disney Visa vacation ?

[rileyroosmom]

Not sure if this is the right place to post this.

2 weeks ago I booked a free dinning trip for September. I put the $200 deposit on my Visa. The balance is due Aug. 8. I want to pay the balance with my Visa. Then, if I understand correctly, I have 6 months interest free to pay it off?

I've used my Visa to pay other trips, but this time it seems I have a really long time to pay the trip off. I know all about how the interest free works. I pay the bill off in full each month and am aware that any returns go towards the balance of the trip.

Am I computing wrong or do I really have until Feb 2012 to pay it off?

 

[ShelsGoingToDisney]

Not sure if this is the right place to post this.

2 weeks ago I booked a free dinning trip for September. I put the $200 deposit on my Visa. The balance is due Aug. 8. I want to pay the balance with my Visa. Then, if I understand correctly, I have 6 months interest free to pay it off?

I've used my Visa to pay other trips, but this time it seems I have a really long time to pay the trip off. I know all about how the interest free works. I pay the bill off in full each month and am aware that any returns go towards the balance of the trip.

Am I computing wrong or do I really have until Feb 2012 to pay it off?

Well it will be approximate. They calculate the 6 months in regards to the way the billing cycle runs not from the day you make the payment but it'll be close! On your statement it will tell you the exact date of the payoff to keep the 0%.

 

[amy-momofthree]

I was wondering this myself. Can you pay the balance of a trip months after booking and have 6 months 0% interest?

I thought you had to pay in full when you booked it to get 0%??

Mine isn't due til August but if I pay it off now with my Disney Visa, I will have enough time for the reward dollars to post in time for my trip and get 0% for 6 months?

 

[Vowelmommy]

OOh good question, I was wondering if the 0% applied to payments made on an existing vacation balance, or only if the whole thing was paid in one big payment?

 

[Disneychix]

You get 6 months 0% from each payment you make. I typically make 3 payments;
1. $200 to book
2. 1/2 balance left at some point later
3. remaining balance around 45day mark

 

[Marionnette]

Just be careful if you use that card for any other purchases. At some point during that 6-month period, Chase will have to start applying your payment to that promotional rate instead of your regular balance. I can't remember exactly when it is but I know that I got burned by it back when the regulations on credit cards were changed in 2010. I'll do some digging and see if I can find the information about it. I just remember being really PO'd about it and the CSR at Chase was totally unhelpful about it.

Okay, I found this on BoA's website:

How payments are applied to your balance.
If you have balances with different rates, credit card issuers are required to apply any amount you pay above your minimum payment toward balances with higher rates, but they are permitted to apply your minimum payment to the balance with the lowest rate first. Check your account agreement to see how your credit card issuer allocates minimum payments.

What happened in my case, the month before the balance on the promotional rate was due, Chase applied the minimum payment to my promotional balance and then the remainder to the regular balance. The check I had sent was for the entire regular balance. Even though the payment was on time, it negated the grace period which caused interest charges to be generated on the average daily balance of the regular balance. My monthly charges on that card run in the range of $1800-$3000! So be careful with that promotional rate and pay it off before the 6-month mark or else use another credit card while you carry the balance.