I'm looking to book a deluxe Resort in October for free dinning. However, I'm not 100% if I'll be able to go. So I'll book the room with Disney Visa but what if I have to cancel before the trip? Does hit me with a penalty or something?
If you are booking for free dining, then you will be booking a vacation package. The deposit is $200. You can cancel with no penalty up to 45 days before your check in day, at which time the balance of your package will be due.
As the pp said, a package (which is what you would book for free dining) must be paid in full 45 days prior to arrival. You can cancel any time up to that 45 days without a penalty (minus any trip insurance as that is non refundable); however, if you cancel 44 days or less prior to arrival, there is a $200 cancellation fee (plus the cost of trip insurance).