DVC financing with CC?

[Questforthemouse]

My understanding is that if financing your DVC purchase thru Disney you'll receive a lower interest rate if you set up automated payments...Does anyone know if you can set this up on your credit card (specifically AMEX). In other words, can you have the monthly payments automatically come off your credit card each month or does it need to come out of a bank account?

 

[Mtnman44]

I'd be shocked if you found a creditor that would take payments via a credit card. Aside from the problems of paying for debt with debt, the creditor would also be paying the merchant fees and discount rate in order to process all those creidit card payments, which are typically close to 3% for AMEX.

 

[lovinthemouse]

We did out downpayment through AMEX. We got reward points and wanted it set on that card. Since we paid it off monthly it did not cost us anything. Now, that was not our monthly payment just the down. The best thing to do is call member accounting. Good Luck.

 

[RobDoc]

My understanding is that if financing your DVC purchase thru Disney you'll receive a lower interest rate if you set up automated payments...Does anyone know if you can set this up on your credit card (specifically AMEX). In other words, can you have the monthly payments automatically come off your credit card each month or does it need to come out of a bank account?

The DVC autodebit is only from a bank account for mortgage payments and annual fees. You can use a credit card to pay the deposit and your dues ... or you could pay the entire amount on your credit card and then pay them as you want.

DVC usually lowers the rate by 1% for those using autodebit, but it must be thru a bank account.

 

[Deb & Bill]

You can pay your monthly dues by direct debit from your checking account and not have any penalty. Even when you get the annual statement in January that it is due in mid-January. You can't do this off a credit card, though.

We did on entire add-on on a credit card once. And we have done the down payment on a credit card and financed through Disney.

 

[rie'smom]

I'm thnking about paying for the DVC w/Amex-great way to get miles!! Then pay off card the following month.

 

[granmanh603]

I'm thnking about paying for the DVC w/Amex-great way to get miles!! Then pay off card the following month.

I think you can do that too. We did it for add on. We used Disney visa for the purchase and 10% downpayment was 0 % for 6 months, I paid off the bulk balance right away and left the 10% on for 6 months but did not charge anything else on that card for the 6 months. Hope this makes sense. Carol

 

[PinkTink63]

I'm thnking about paying for the DVC w/Amex-great way to get miles!! Then pay off card the following month.

That's what we did! Intstant miles!

 

[dcfromva]

My understanding is that if financing your DVC purchase thru Disney you'll receive a lower interest rate if you set up automated payments...Does anyone know if you can set this up on your credit card (specifically AMEX). In other words, can you have the monthly payments automatically come off your credit card each month or does it need to come out of a bank account?

Questforthemouse,
I have heard that if you are from another country (I am assuming you are Canadian by your signature ), Disney will set up the automatic payments with a CC. I don't know if this is still true, but I bet your guide could tell you.

-DC

 

[polyhm83]

Hi fellow Canadian,
I just purchased and was going to pay monthly on my credit card but you do not get the preffered rate unless it is automatic withdrawal from your bank. They can't do this from a Canadian bank so they will let you set it up on a credit card. I decided the rate was too high and if the dollar lost strength It wouldn't be good so I am going with a Canadian line of credit. Good luck whatever you decide.

 

[krissylynne]

What is the typical monthly cost for most people. We are checking into the the club, and we are needing around 400 points. I have not been able to find what monthly payment would be with no deposit down. If you have an idea can you share it with me?

Thanks

 

[Boston5602]

What is the typical monthly cost for most people. We are checking into the the club, and we are needing around 400 points. I have not been able to find what monthly payment would be with no deposit down. If you have an idea can you share it with me?

Thanks

I may be wrong but I do not believe Disney will sell with NO deposit down. You HAVE to put something down either 10 or 20 % .

400 points makes a difference where you want to purchase there are different prices. but lets say SSR for 400 points not counting deposit the monthly payment with preferred rate through Disney is $473.00 and thats with the discount of $15.00 off per point and not counting dues of $133.00 a month for a grand total of $606.00 a month , at least with this years dues.