Final payment for DVC

[itutorfortravel]

Hi I have a quick question... Is it possible to pay for your entire DVC with a credit card?

No flames please! I don't have any credit card debt and paying my DVC is not going to be debt either. I will pay it off as soon as the bill comes. However I have a credit card with a fabulous rewards program and have the potential of getting close to $200 in travel credit if I can do it. And who couldn't use that on a trip to Disney World?!

Thx!

 

[HERSEY]

Yes you can. I would suggest you contact your credit card company first and let them know the amount so they don't think it might be a fraudulent charge.

I would then probably call and do the transaction directly with DVC.

 

[Maverick]

I think this is true if you buy direct, but many resale brokers will not accept credit cards for full payment. (At least the one I worked with did not.)

 

[itutorfortravel]

Thx

It's a resale, working with ***...anyone know in this situation?

 

[itutorfortravel]

Yes you can. I would suggest you contact your credit card company first and let them know the amount so they don't think it might be a fraudulent charge.

I would then probably call and do the transaction directly with DVC.

That's a great idea! I know once they thought a $600 laptop purchase was questionable because we weren't in our hometown, so I can see where the red flag might go up on the amount needed for a DVC purchase!

 

[Minniesgal]

Thx It's a resale, working with ***...anyone know in this situation?

Resale will take the deposit on a CC but the balance needs to be cash

 

[MiramarQE]

Don't think anyone would accept the CC for full payment - when you pay with a CC the merchant only gets a percentage (around 97%) of the full amount - don't see anyone taking a 3% hit for you - unless they raise the price by the 3% first (as many gas stations do for credit transactions)

 

[greengeen]

I've purchased 2 contracts direct from Disney, and paid 100% with my Disney Visa. I got reward points plus 6 months no interest, at 6 months I paid the balance off.

Resale is a different animal though.

 

[Dean]

Thx

It's a resale, working with ***...anyone know in this situation?

What did you find out? In general most won't because it costs them 2-4% to do so. While I've heard of timeshare companies doing so once or twice, generally all they'll do is a deposit. I've never heard of anyone allowing it resale with DVC.

 

[McCrae]

I paid full amount using Amex for direct purchase of BLT points.... Cash back was great.

 

[LisaS]

It's a resale, working with ***...anyone know in this situation?

I don't have any personal experience with *** and you could ask them if they will allow it but I expect they will want cash from you and here's why.

Let's say you are paying $10,000 for your contract. The seller gets $9,000, the broker gets $1,000 (10% commission). If you pay with a credit card, the CC company takes 3% out of that $10,000, leaving $9,700. Either the seller or the broker would have to agree to accept $300 less than they were expecting.

If the broker covered the $300, they would get $700 instead of $1000 for their commission. That's a loss of 30% of their usual commission.

I wouldn't expect the buyer to agree to cover it either. After agreeing on a price, I can't see them giving up $300 (in this example) so that the buyer can get credit card rewards on the purchase.

Perhaps you could have put terms in the contract where you paid the 3% fee in exchange for being able to pay by credit card but I suspect that any rewards you would receive would be worth less than what you paid for them.

 

[itutorfortravel]

I haven't asked *** yet, but we're not at the point of final payment so I will when it's time. Also the argument against it presented here sounds logical so for now I'm just assuming it's not an option. That's okay because we are paying cash, but my cc has a great rewards program and I'm always looking for ways to get more "points."

 

[armone]

Hi I have a quick question... Is it possible to pay for your entire DVC with a credit card?

No flames please! I don't have any credit card debt and paying my DVC is not going to be debt either. I will pay it off as soon as the bill comes. However I have a credit card with a fabulous rewards program and have the potential of getting close to $200 in travel credit if I can do it. And who couldn't use that on a trip to Disney World?!

Thx!

Have done so several times direct with Disney. Did not carry debt or pay interest at any time. First with Cabelas card... DVC actually billed this three times in one month to avoid going over limit. Next 3 times used Disney Visa... double points and six month interest free dating... this would only work with Disney purchase. Great to get the "rewards" as long as you pay before incurring charges.