Is DVA worth the hassle for the 2% gift card?

[squirk]

I guess I could have posted this on (or searched through) the Budget Board, but since I am DVC, I really can only use Disney Vacation Account for cruises.

Suppose that saving up for a vacation is something you can do on your own without needing a layaway/Christmas club plan. In your opinion, is DVA worth getting, say, a $100 gift card for a $5000 vacation?

I mean, I would not walk past a $100 bill lying in the street, but from what I've read, getting those gift cards can take a while, and sometimes don't show up when they are supposed to. That plus the idea of restricting access to the money (yes, I know they give refunds, but that is different than having the money in your own bank account) leaves me a little cold.

So, again, if you are already a disciplined saver, is the 2% gift card worth using the DVA system vs. your own bank account?

 

[tz2989]

If you buy discounted gift cards to pay for the cruises, then yes. If not, it's up to the person and if they're able to tie up their vacation funds into a nontraditional account.

Keep in mind most savings accounts pay <1% in interest so you technically gain more using a DVA.

 

[iivye]

I use it to combine the discounted Disney gift cards I buy and then pay my cruise fare. I've never had an issue in the five years I've been using it (six different cruises). If you are going to fund it with cash then it probably isn't the best choice for you. Also to get the bonus you have to use the funds to pay for a qualified vacation; you can't get the bonus if you just have them issue you a gift card with the entire balance. Also the website says the bonus program will expire 12/31/17 which might affect you if your travel date is later.

 

[Ofinn]

I would say no. I have the Costco citi bank card that gives me 3% back on travel. I have a savings account for travel. It may not gain interest, but If I need the money for something else it's there. I guess it was it depends on how you manage your money. Outside of my emergency fund, travel fund, and checking account. Most of ours savings is tied up in 401k and IRA's so I wouldn't want another account I couldn't access easily.

 

[squirk]

Thanks to you all. My trip is in Feb, 2017. I can buy the 5%-off Disney gift cards at Sam's and save about $500 (my trip is about $10,000).

IIRC, though, isn't there a minimum length of time the DVA account has to be open before you can request a gift card? Like, you can't open the account, dump $10k in it, and then ask for a $200 gift card a week later. Isn't it something like four months after account opening before you can do that?

 

[iivye]

You don't get the bonus until after you use the funds, not when the funds are deposited into the account. The account has to be open for 60 days before using the funds.

 

[Maggie'sMom]

Thanks to you all. My trip is in Feb, 2017. I can buy the 5%-off Disney gift cards at Sam's and save about $500 (my trip is about $10,000).

IIRC, though, isn't there a minimum length of time the DVA account has to be open before you can request a gift card? Like, you can't open the account, dump $10k in it, and then ask for a $200 gift card a week later. Isn't it something like four months after account opening before you can do that?

In order to earn the bonus, the account must be open 120 days before spending the money. But the entire amount doesn't have to be in the account for the 120 days. You can open the account with a minimum deposit, which I think was either $10 or $20, and then deposit the bulk of the funds a couple days before using the account to make a payment on your trip and you'll get the bonus based off the entire amount you spend.

 

[squirk]

And the cards take 4-5 weeks to get delivered, right?

 

[Jennifer777]

I think it is worth it if you are using the discounted gift cards for two reasons. First, the extra 2% on $10k is $200, which is almost enough for a placeholder on another cruise. It's free money. Second, if you combine all your gift cards into your DVA and use that to pay for your cruise, on board spending and OBB, if for some reason you are due any refund on any of these things, you don't need to save all those gift cards. The refund will go back to your DVA and you can either use it for future Disney travel or request it all back on one new gift card. It simplifies it.

As for the time frame for getting your $20, it took a lot less time to get our bonus than what they listed. I think we had it in two weeks. I also used our DVA to put a $1,000 stateroom credit on our account a couple weeks before our cruise and that bonus arrived without me even requesting it (I didn't bother since I thought there wouldn't be enough time) in just over a week after I used the funds. I would request as early as possible though, just to be sure but for us they have come pretty quickly.

 

[chilepeppr4]

I also used our DVA to put a $1,000 stateroom credit on our account a couple weeks before our cruise and that bonus arrived without me even requesting it (I didn't bother since I thought there wouldn't be enough time) in just over a week after I used the funds. I would request as early as possible though, just to be sure but for us they have come pretty quickly.

how do you go about putting the stateroom credit with the DVA..thanks, i just opened one the other day for my cruise in 2017

 

[Jennifer777]

how do you go about putting the stateroom credit with the DVA..thanks, i just opened one the other day for my cruise in 2017

You have to call DCL and use your DVA account number to purchase a stateroom credit.

 

[Maggie'sMom]

And the cards take 4-5 weeks to get delivered, right?

I've found that the delivery of the gift cards is tied somewhat to the vacation date you set on the account. The first time I used it, I put in the actual vacation date and the gift card was delivered about a month before the vacation, even though I'd spent the money and requested the bonus much, much earlier. The second time I used the account, I entered a date that was well before when our actual vacation was and received the bonus gift card within a couple weeks of making the payment.

 

[tink1970]

I have used my DVA for multiple cruises, park tickets and resort stays. I always keep a bit in so it's "active" and rotate (by editing my account) the dates of the vacation, type of vacation and vacation goals. For instance, I had paid off the majority of our Dec ABD trip with my account, was about to finish it off then received a travel credit card that needed a $3K spend. So I paid off our trip with that, and changed my DVA to our July 17 cruise...it now has several thousand in it and when I feel like speaking to a cast member, I'll call and apply it. Easy peasy. I actually enjoy it so much I set one up for my brother's family so they can have the benefit of $$ deposited in it for birthdays, Christmas, etc (that took getting my brother's password but he sang like a canary with the prospect of free $$ ).

I usually combine with gift cards that I've bought at Target for a total of 7% off or if I need to "top off" my account my Disney Visa so a total of 4%. (Both 4% and 7% beat any savings account or CD rate I've found around here).

Since your trip is in 150-180 days and the account must be open to receive the 2% gift card you might not want to open one for this upcoming cruise since you won't see the benefit. However, since it's on your mind, you might want to open one for the next cruise (if you plan to take another ).

Hope that helps!

 

[squirk]

Since your trip is in 150-180 days and the account must be open to receive the 2% gift card you might not want to open one for this upcoming cruise since you won't see the benefit.

I just opened one with whatever dates and dropped $10 into it just to get it "active". I will dump in multiple $500 gift cards (that I purchase at a 5% discount with Target Red Card) and even if I don't wind up getting my $200 card in time for the cruise, I can use it for my DVC dues or park tickets or whatever.

(if you plan to take another ).

"If" I plan to take another? Girl, please.

 

[Turk February]

I've used DVA for the last 2 years and love it. Like you said in your original post, you wouldn't leave $100 lying on the street, so why leave it here? I know some people have had not-so-pleasant dealings with DVA, but I have nothing but positive things to report. I buy my discounted gift cards, deposit them into the account, and then when I use the funds they send me the card.

 

[squirk]

Since the 2% only kicks in every thousand dollars, there's really no point, financially, to adding any amount in between, is there?

$5000 will get you a $100 card. You won't be eligible for another card until you hit $6000, correct?

 

[Maggie'sMom]

Since the 2% only kicks in every thousand dollars, there's really no point, financially, to adding any amount in between, is there?

$5000 will get you a $100 card. You won't be eligible for another card until you hit $6000, correct?

That is correct. You won't get an additional $20 until you hit the next $1000. If you are going to fund your DVA with a credit card, there's no point to adding an amount in between until you are ready to use it, but I fund my DVA with gift cards. I pick them up a little at a time whenever my grocery store is offering a bonus for gift card purchases. Then I just add them to the DVA as I buy them.

 

[tee11]

I use it to combine the discounted Disney gift cards I buy and then pay my cruise fare. I've never had an issue in the five years I've been using it (six different cruises). If you are going to fund it with cash then it probably isn't the best choice for you. Also to get the bonus you have to use the funds to pay for a qualified vacation; you can't get the bonus if you just have them issue you a gift card with the entire balance. Also the website says the bonus program will expire 12/31/17 which might affect you if your travel date is later.

Wait - they are ending the DVA program, too?? They are ending the $20 gift card per $1000?

 

[Maggie'sMom]

Wait - they are ending the DVA program, too?? They are ending the $20 gift card per $1000?

The bonus part is currently showing an end date of 12/31/2017, but if they feel the program is working and benefiting Disney then they will likely extend it.

 

[CM Dad]

That is correct. You won't get an additional $20 until you hit the next $1000. If you are going to fund your DVA with a credit card, there's no point to adding an amount in between until you are ready to use it, but I fund my DVA with gift cards. I pick them up a little at a time whenever my grocery store is offering a bonus for gift card purchases. Then I just add them to the DVA as I buy them.

If you use your DVA for multiple trips it might make sense. If you spend $1500 on the first trip, you would get a $20 bonus. If you use the same DVA and spend $1500 on a second trip, you would get $40 on that one.