DVC Payment -- 1/2 way there!!!

[TagsMissy]

Hi all,

I have a question for you all. I paid off half of my DVC today and will in the next couple of weeks pay off the rest so we're going to be 'debt free' with a slough of Avion Points WOOOHOOO!!!!!!

My question for you guys is this...

When I paid it said that it would take about 2 days for payments to be processed. I do not want to pay any interest for our DVC plan and my first payment is due May 1st... since DVC takes a couple of days to actually process the payment do I need to contact DVC a few days before the 1st to ensure that there's no interest accrued? Or an am I ok as long as I give DVC my payment info on the 1st... the fact it takes them a few days to process being beyond my control...

I hope my question makes sense!

HAPPY VACATIONS EVERYBODY!!

PS: Having paid off our DVC I wonder if I can talk my hubby into buying additional points

 

[dcfromva]

When I paid it said that it would take about 2 days for payments to be processed. I do not want to pay any interest for our DVC plan and my first payment is due May 1st... since DVC takes a couple of days to actually process the payment do I need to contact DVC a few days before the 1st to ensure that there's no interest accrued? Or an am I ok as long as I give DVC my payment info on the 1st... the fact it takes them a few days to process being beyond my control...

If you have closed, interest is accruing each day until you have the loan paid in full. (You should be able tosee how much interest has accrued by comparing your pay off amount to the amount originally loaned--plus there should be a link that allows you to look at how long it would take to pay it off based on the regualr payments).

If you wait until a couple of days before the 1st, the system will lock you out --it won't give you an option to make a payment on-line and will say there is a payment currently being processed. You can still pay it off at that point, but you will have to make a call to member services, member accounting.

By the way, congratulations!

 

[Disneypirate85]

I'm seeing an "Addon" in your near future, Congrats on your early payoff!

 

[jlewisinsyr]

From an interest accrual perspective, a payment made must be credited on the business day it is accepted (regardless of how long it takes to process through their system) or the following business day if it is after close of business or on a weekend or holiday. This is the difference between Effective Date and Processed Date.