Free Money - Kinda

[mikelan6]

As time approaches to pay for PCC 2.0 (due in September), I was originally thinking of spreading the payments over two months to make it a little easier on the bank account.

Yesterday though, my wonderful roommie (Hoopyman) reminded me that if you pay the cruise with the Disney Visa Card from Chase, you get 0% Interest for six months! That's kind of like free money, isn't it!

Although I would pay it all off, I think it's a good benefit and might as well use it, right? Your thoughts?

 

[HoopyMan]

I agree!! Oh, that's right... it was my idea. ;-)

 

[Cherinva]

I don't have the Disney Visa, but if I did, I would use to pay off trips...plus for every 100 dollars spent, you get 1 point that you can transfer to a Disney Gift Card. In 2008, my DBF used his card to pay for our entire trip (including airfare)...he got a gift card just before the trip with over 70 dollars on it to spend at Disney. It was like free money..he loves it.

 

[macman752]

I don't have a Disney Visa. I do have a cash back card that pays 2% back on travel. So, I have been making small interim payments each month, charged to that card.

Our cruise will be paid in full next month.

 

[mainegal]

I used a Disney Visa for a year before my 2008 trip. Ended up with a little over $100 that went to paying for my meals.

I use Discover card for cash back bonus because it can be used in more places. Or, can be just traded in for cash. I am "saving" mine. Partner uses his cash back bonus to pay monthy Discover bill, whice really makes the most sense.

 

[irishdadx4]

Come on prizematron!!!!

 

[mainegal]

As time approaches to pay for PCC 2.0 (due in September), I was originally thinking of spreading the payments over two months to make it a little easier on the bank account.

Yesterday though, my wonderful roommie (Hoopyman) reminded me that if you pay the cruise with the Disney Visa Card from Chase, you get 0% Interest for six months! That's kind of like free money, isn't it!

Although I would pay it all off, I think it's a good benefit and might as well use it, right? Your thoughts?

It is only free money if the money you would have paid for the cruise is put in savings account and earns interest for six months. (and good luck getting worthwhile interest rate!). If you are only delaying paying for six months and do not have the money until that payment is made, then no, you get no "free money".

 

[kathrna]

Why not pay for it with your Disney Visa?! You would then get the points (LOTS of them). And if you were going to pay it off anyway, it doesn't hurt.
I use my Disney Visa for EVERYTHING! and then I pay it off at the end of the month. Yes, I have the money, but why not earn points for it. There are better rewards cards out there, but I have this one. We just came back from a trip and our points paid for our portion of the Chefs Table at Victoria & Alberts. YES, V&A's. I tell you, I use it EVERYWHERE, EVERYTIME! Take advantage of the 6 months no interest. Just be sure to get it taken care of by then!

 

[aggielawyer]

I don't use credit cards. I got burned by a store card a few years ago and the experience made me so angry I swore I'd never use a credit card again. So my answer would be no.

 

[mootmoot]

Is this the Disney Visa through Chase? I got an offer for a $200 bonus. I don't really care for another credit card, but the bonus gift card sure sounds nice, especially since I know we have the balance coming up... Anyone else do this offer (I only briefly glanced at the fine print)...

 

[klam_chowder]

If you're sure you're going to pay it off, then there's almost no downside. Plus, as PP you basically get cash points. We've switched to Disney Visa almost exclusively and I it. Last year Christmas vacay, we paid for all our food & incidentals with the Disney Reward Dollars when we were at DLR for 2 days. DH loved it

Caveat - plan to pay it off in 4 months instead of the free 6 month period. They have this weird rule that 2 months prior to it expiring they take your payment and apply the minimum payment amount to the free 6 month promo. So you THINK you've paid off the full amount to avoid interest charges but you're actually short so then interest starts accumulating to all your other purchases since their purchase date. You quickly pay the whole bill off cuz you're so freaked out but the interest is already accumulating on the next month's bill too as it takes 2 billing cycles for the system to catch up. It's very convoluted, the policy is buried in microprint and nothing of the sort is reflected on the statement - can you tell I've had some experience?? I finally got it worked out but not after much angst and effort.

A couple of years ago we bought new washer & dryer and Sears was offering 20% off and 12 months 0% financing if we signed up right there for their card and paid for it with the card. It was too good a deal to pass up and every statement they sent was very clear how much was owed, accumulated interest if you didn't pay on time, and when the promo expiry was getting close the statement had a reminder note on it saying payment was due or interest would be charged. I was impressed at how forthright and clear they made it.

It was the first time we'd used a 0% promo anywhere. When I heard about Chase Visa's 6 month interest free, I expected it to be about the same process.

With Chase Visa, until this "secret payment portioning" happened, all my interactions with them had been stellar - literally I'd get off the phone and say, "wow, I can't believe this is a credit card company - the best!!". Therefore I was shocked at their deceptive practise when it came to the interest free promo. And yes, deceptive is definitely an accurate term. End of rant

cheers,

 

[georgemoe]

I use the Disney Visa exclusively for everything. While it's only 1% back, the other perks do help offset this.

The 6 months benefit is a nice to have as it stretches your budgeting window. I still don't book or charge anything I don't already have money for in the bank. All my 2.0 money is already in the bank.

I've had the Disney Visa for 2 years now and not paid one dime of interest on it. You need disipline for this so your mileage may vary.

Oh, I will have about $400 Disney Dream $'s available for my shipboard account come 2.0.

 

[ADP]

I use the Disney Visa exclusively for everything. While it's only 1% back, the other perks do help offset this.

The 6 months benefit is a nice to have as it stretches your budgeting window. I still don't book or charge anything I don't already have money for in the bank. All my 2.0 money is already in the bank.

I've had the Disney Visa for 2 years now and not paid one dime of interest on it. You need disipline for this so your mileage may vary.

Oh, I will have about $400 Disney Dream $'s available for my shipboard account come 2.0.

Exact same thing here George. This is great advice by all and a nice way to save for an upcoming Disney vacation.

 

[mainegal]

Is this the Disney Visa through Chase? I got an offer for a $200 bonus. I don't really care for another credit card, but the bonus gift card sure sounds nice, especially since I know we have the balance coming up... Anyone else do this offer (I only briefly glanced at the fine print)...

I got this offer, too! $200? You betcha!
I applied, even though I already have a Disney Chase Visa that I have not re-activated.
They sent me a new card. I haven't used it yet. I will let you know if I really get $200 after the first use, as promised.

I use Discover for the cash back bonus.
My Visa is LL Bean (and the old Disney card). I don't use it unless I have to since the bonus can be spent at only one place. Sure I shop at Bean's, but not all that much. And, sad to say, I don't do Disney all that much either.

Key - always pay in full before the bill is due. The credit card companies hate people like us!

 

[BriarRosie]

I pay off my card each month, too. So I can still budget a few extra months' worth on the balance of the cruise and still avoid interest. I like that I'll earn reward dollars to use.