Monthly dues vs. one payment??

[rbuzzotta]

We have always paid our dues in one lump sum!! Now I am facing just under a 2,000 dues bill next month!! Is there any advantage (meaning savings) for paying all at once or monthly?

thanks..........

 

[DebbieB]

You can use a credit card that has rewards if you pay lump sum, thereby getting something back. The monthly debit has no service charge, I've always used it.

 

[disney queen]

on this same line, can i have it set up to be paid monthly by my billpay through the bank? we paid cash; therefore, do not have payments. thanks!

 

[DebbieB]

They will only do monthly payments through a debit plan from a bank. I assume that is what "billpay" is? You cannot manually send payments each month or send checks.

 

[disney queen]

"debit plan through a bank" that means they deduct from my account. right? billpay is where i schedule monthly payments and the bank sends them out. not where the company knows my account number and they deduct.

 

[DebbieB]

No, it has to be an automatic deduction. You have the choice of either the 1st or 15th.

 

[Doctor P]

Yep. It has to be an ACH electronic withdrawal from a specified account on a specified day each month.

 

[pumpkinboy]

The interest and fee free auto deduct is a great perk, since most of us carry mortgages and some of us even other types of debt on top. Any time anyone offers me free interest, I take it, assuming it is to my benefit (which it is in theis case). It is more convenient and easier on the wallet to pay it over time, and since it's free, well, I'm all for it. In order for the lump-sum payment to be a better deal you'd have to have no other debt and be getting decent credit card incentives.

 

[AnnaS]

Ours is just under $2,000 also. It is a nice piece of change right around the holiday but I know it's coming. I tell anyone who might ask that dues are less than what our "cigarettes" would cost. I only say this because I am disciplined and save $40 a week (separate envelope) for dues. I like to charge it on our visa so I can get the rewards and right now it is double - so almost $40 towards rewards - not much but we are paying this bill anyway. I am glad we have the both options since everyones needs/finances/routines are different.

 

[timC]

The interest and fee free auto deduct is a great perk, since most of us carry mortgages and some of us even other types of debt on top. Any time anyone offers me free interest, I take it, assuming it is to my benefit (which it is in theis case). It is more convenient and easier on the wallet to pay it over time, and since it's free, well, I'm all for it. In order for the lump-sum payment to be a better deal you'd have to have no other debt and be getting decent credit card incentives.

I'm with you...interest free money using monthy billing can't be beat.

 

[Laurabearz]

We opted to do the monthly payments last year and we love it. Our dues are way more than $2000 a year and spreading it out helps take the bite outta it, esp since Dues are due right after Christmas.


One phone call took care of it last year. I was surprised how easy it was to sign up for it.

 

[Carlnne]

We have always done the lump sum for no real reason. But you have all convinced me to change. Is it too late for this year? What would I need to do?

 

[Ralph&Pam]

We do the monthly auto-debit after having to pay the lump sum just before a January 2nd arrival a few years back. Your annual dues must be covered (either paid in full or part of an established monthly payment via direct debit plan) prior to the start of any reservation. If you have a trip planned during January, you will have to make these arrangements prior to your arrival.

Ralph

 

[rbuzzotta]

Just discussed this with DH.....................who do I call to make the change from one lump sum to monthly payments and what do I need to have ready when I make the call (checking acct number or such??).

thanks.............

 

[Bexx]

If we could do monthly payments from the UK, I would do it in a heartbeat. Unfortunately the lovely post-christmas lump sum is the only option for us. The only good thing is that the exchange rate is certainly working favourably for us this year!

 

[FamilyGuy]

I tell anyone who might ask that dues are less than what our "cigarettes" would cost. I only say this because I am disciplined and save $40 a week (separate envelope) for dues.

I read this and just had to comment that you are EXTREMELY disiplined to be able to put away $40 weekly for dues. On top of everything else going on in your life, you can make it a point to do that, and that's just awesome.

In theory, anyone can do that. In reality, only a select few can actually do it!

 

[FamilyGuy]

We do the monthly auto-debit after having to pay the lump sum just before a January 2nd arrival a few years back. Your annual dues must be covered (either paid in full or part of an established monthly payment via direct debit plan) prior to the start of any reservation. If you have a trip planned during January, you will have to make these arrangements prior to your arrival.

Ralph

Good point, per the original DVC contract, annual dues must be paid in full, or auto-debit dues must be completely current prior to reservation(s) and/or travel. I just read all of the paperwork (ok not all....) as we just signed off on all of our initial documents in the last few days.

 

[Ralph&Pam]

Just discussed this with DH.....................who do I call to make the change from one lump sum to monthly payments and what do I need to have ready when I make the call (checking acct number or such??).

thanks.............

They need the checking account number and the bank tracking number. When we signed up, we had to complete a printed form and return it with a voided check. This form was faxed to us, and we mailed it back. I suppose we could have faxed it back if there had been a time crunch, but I prefer to use the mails to transmit this type of information rather than a fax machine.

Ralph

 

[Poorman]

Now we should restart that thread "how many points do you have?" This is the time of the year I wonder why I have so many points. Being on that top 20 list is not so good this time of the year, but I will suffer through it.

 

[crazywig]

we called yesterday about the auto deduct. all i had to do was fax a letter to member accounting stating i wanted this done, and on what day (1st or 15th) along with a copy of a voided check.

she did say it had to be in by today in order to get the deductions rolling by jan. 15th (btw we do have a ressie for this month).