Just paid off my SSR!

[moredisneyplease]

I figured I needed to share with others that can relate and be excited with me!

I originally signed up for these 150 points through DVC finance at 9.99% (10 years) and quickly used a 3.9% for the life of the loan Disney Visa check to pay it off. It only took me 2 1/2 years to pay it all off!

Now I'm waiting for my first AKL payment so I can use a 2.9% for the life of the loan Disney Visa check to get a better rate!

Check back in a few years for my "just paid off my AKL" post!

 

[PutnamDS]

Congratulations! That is wonderful! Here's a cheer for you -

Deb

 

[delmar411]

great job!!

 

[bobbiwoz]

That's great! I hope you have many great vacations!!!

Bobbi

 

[Rock'n Robin]

Is this still an option if I get a Disney visa? We financed through DIsney but don't have a Disney visa at this time.
Robin M.

 

[AnnaS]

I figured I needed to share with others that can relate and be excited with me!

I originally signed up for these 150 points through DVC finance at 9.99% (10 years) and quickly used a 3.9% for the life of the loan Disney Visa check to pay it off. It only took me 2 1/2 years to pay it all off!

Now I'm waiting for my first AKL payment so I can use a 2.9% for the life of the loan Disney Visa check to get a better rate!

Check back in a few years for my "just paid off my AKL" post!

Congratulations! It is definitely a great feeling and a reason to celebrate~

 

[honeymo78]

I only wish my disney visa limit was that high

 

[Wigit12]

Did you still use your Visa while you were making the payments?
If you did, were you able to pay off the new purchase balance separately?
Just curious since we use the Visa a lot for the rewards but are considering another AKV add-on.

 

[tea pot]

Woo Hoo
Congrats

 

[moredisneyplease]

Did you still use your Visa while you were making the payments?
If you did, were you able to pay off the new purchase balance separately?
Just curious since we use the Visa a lot for the rewards but are considering another AKV add-on.

Since a few of you asked, here was the story behind my Disney VISA card use.

I signed up for this card before it even came out so my "member since" date says "DAY 1". I always use my DV for every day purchases, pay off the balance at the end of the month, and then reap the Disney dollar rewards! every month i just tossed out those convinence checks and never even thought about using them. When I purchased my SSR back in 2006, I was not happy w/ 9.99% for 10 years so I took advantage of the DV convenience check. But first....I called them to get the details:

1) the check was for 4.9% for the life of the loand w/ a $50 processing fee. Since I was a member since day 1 they said I qualified for 3.9% so I said HECK YEAH
2) I asked about my daily purchases and was told that its not very good to mix "life of the loan checks" and regular purchases (at 14%) because they would take the money that I sent in and apply it to the lower % loan before my daily purchase/high %. Obviously I didnt want to end up paying 14% on every day purchases so I asked for another option and was told
3) that I could get a second DV card, which I did. I used the 3.9% check to pay off my DVC and have been whittling that down each month for 2 1/2 years. I call that card/statement DISNEY #1 and dont even carry the card around. Instead, I used the "new" card/account (DISNEY #2) for daily purchases and pay that one off at the end of the month

So here we are 2 1/2 years later and all along I've been receiving convenience checks on DISNEY #2, with the most recent being 2.9% for the life of the loan. Now that I've paid off #1 I'm going to go back to using that card/account for daily purchases and once I pay off the statement at the end of the cycle for DISNEY #2 (and receive my first AKL statement) I'm going to send them that 2.9% check.......then, of course, put away the DISNEY #2 card so I dont mix rates.


Rock n Robin, to answer your question I would just give Chase (Disney visa) a call and ask them. I dont know if everyone gets these or not. All I know is that I've had a card from day 1, I pay off my balance on time each month, and never, ever miss a payment.

 

[Laneychris]

What a great idea, thanks for the tip!

 

[Wigit12]

Thanks
That's a great idea. I never thought to just get a separate card.

 

[oakmanner]

Congratulations!!! We have just embarked on a 10 year journey to pay off $12,000 plus interest. I've already sent several principal only payments in addition to our monthly payment to DVC. I hope to have it all payed off in three years.

Dennis-

 

[tjcj]

congrats on paying off your loan, we just paid off our 1st contract as well and know how you feel.
The only problem is that as soon as we paid it off I started thinking this: well we paid off a contract, why dont we just add on now??
So be warned and what ever you do don't look at the relase web sites

 

[Coach81]

We are still a few years away from paying off our first DVC purchase (notice the "first" comment), but I have been doing the same.. sending a few dollars whenever I can to the account.

Congrats to you! We'll be there someday!

 

[abeyst]

Congrats to you OP and to the others paying down their loans so quickly!

 

[3DisneyKids]

Way to go! I am sure it is a wonderful feeling for you!

We paid for the entire contract on our Disney Visa (and the add-on, too!) so that we could get the reward points and then just paid the credit card off in full when the first statement came. It has been a great way for us, though it is not for everyone.

Also, if you have good credit, you can call Chase and ask about having your interest lowered on the credit card. I think my initial interest rate was at the standard 14.99% and so I called and they immediately dropped me to either 8.99 or 9.99 (I don't know which since we never carry a balance. But I still wanted that lower rate just in case we ever do.)