Options for paying Maint Fees

[MickeyFan612]

For my current plan I paid in full by jan 31st the due date. Afterwards I was told by a friend (who got me hooked on DVC) that you can set up montly payments with Disney. Since very soon I hope to own multiple contracts I want to figure which plan suites me best! So my question is what are pro and cons of paying the one payment vs the monthly? Also I will take any and all advice on maint fees please:0) Not too picky here

 

[Missyrose]

This is strictly my opinion, but when I had to make the decision between paying yearly or monthly, I decided to put money aside every month (as if we were paying monthly) but pay yearly with my Disney Visa so I get the rewards. I see it as the best of both worlds.


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[disneynutz]

Our plan is like Missyrose's but we pay with a different CC that doesn't lock us into having to use the reward at Disney. We also don't like having to convert the rewards to a second card that expires.

Bill

 

[Chuck S]

I used to pay in full annually, as I used to travel in January and simply dropped the check off at the front desk at check-in. As my travel habits changed to other parts of the year, and dues slowly increased, I switched to the monthly debit from my checking account. Now that I have a Disney rewards card, I may do as Missyrose suggests..but the debit is awfully convenient.

 

[nunzia]

Our plan is like Missyrose's but we pay with a different CC that doesn't lock us into having to use the reward at Disney. We also don't like having to convert the rewards to a second card that expires.

Bill

This is what I do as well. I put money into an account monthly, then when the MF are due I pay with CC, then pay off the CC out of the special account. My CC lets me just get cash back, which I then use for trips

 

[cfw213]

I have a different question re: paying maintenance fees. My dues were paid by the seller for 2012, so when the bill comes in January, can I pay monthly for 2013?

I didn't know if you could pay monthly in the current year or just the upcoming year. Do I make any sense??

 

[MickeyFan612]

I have a different question re: paying maintenance fees. My dues were paid by the seller for 2012, so when the bill comes in January, can I pay monthly for 2013?

I didn't know if you could pay monthly in the current year or just the upcoming year. Do I make any sense??

That's a good question! I understand what you are asking.. Hopefully someone will answer

 

[MickeyFan612]

Thanks for tips about using Disney Rewards card. I try to use mine everywhere I go so I'm sure this will be no exception. Can you not put all your maint fees directly on your card at once? The question now I need to know is should I be making monthly payments for 2013 during the 2012 year or start them Jan. 1 2013?

 

[drusba]

For my current plan I paid in full by jan 31st the due date. Afterwards I was told by a friend (who got me hooked on DVC) that you can set up montly payments with Disney. Since very soon I hope to own multiple contracts I want to figure which plan suites me best! So my question is what are pro and cons of paying the one payment vs the monthly? Also I will take any and all advice on maint fees please:0) Not too picky here

You can either pay annually (due Jan 15, payable without penalty by Feb 15), or you can set up automatic monthly withdrawals from your checking account (contact member accounting to do so). The amount you pay via monthly withdrawals is the same as paying in advance by Feb 15 so with monthly withdrawals you get to hold the money longer.

You can do that single annual payment via credit card but obviously a monthly withdrawal from your checking account does not use a credit card. You can, if on monthly withdrawal, go into your account on-line any time of the year and pay all or part of your monthly dues via credit card. But if you just pay part, that does not stop the monthly withdrawal until all dues are paid. Example: you have monthly withdrawal; in March you go on-line and pay 5 months of dues. You will still have monthly withdrawals in March through July, i.e., the credit card payment is effectively paying those dues that would otherwise get paid at the end of the year.

When you say you will have "multiple contracts," you do not say what you mean. If you are getting an add-on through Disney with the same use year then nothing really changes as that contract just gets combined with the first, and you pay one bill at the beginning of the year for the combined contracts or monthly via a single monthly withdrawal. If you are referring to purchasing another contract with a different use year, that would mean you would have two separate member numbers and you are treated as if you are in fact two separate members. Each use year would have its own separate dues bill in January and if you do monthly withdrawal there would be two separate withdrawals per month.

As to question above about changing the method of payment, if your 2012 dues were paid in January, you can call Member Accounting and get the forms to set up monthly withdrawals for 2013 at any time as long as it is done in time for them to process the change before the 2013 billing is done, e.g., call before December to make the change. In other words, don't wait until January to request the change because then the change will be effective only when 2014 starts.

 

[Sandisw]

Thanks for tips about using Disney Rewards card. I try to use mine everywhere I go so I'm sure this will be no exception. Can you not put all your maint fees directly on your card at once? The question now I need to know is should I be making monthly payments for 2013 during the 2012 year or start them Jan. 1 2013?

I don't believe you can send in payments early, but I could be wrong. You don't need to pay your 2013 MF's until January, 2013. You will get a bill in December.

If you want to set it up for monthly debits, you can do that by giving them a call and they will tell you what you need to do.

We currently have things deducted monthly but will be switching from that back to CC for one of our contracts since I did as was suggested above...I have been putting money aside to pay in full in January....

 

[Chuck S]

Thanks for tips about using Disney Rewards card. I try to use mine everywhere I go so I'm sure this will be no exception. Can you not put all your maint fees directly on your card at once? The question now I need to know is should I be making monthly payments for 2013 during the 2012 year or start them Jan. 1 2013?

You can not start paying the January 2013 dues now, current year dues only. Dues are based on calendar year, January to December, not use year months. Monthly debits must be from a US based checking account. Credit Card payments have to be a single lump sum.

I have a different question re: paying maintenance fees. My dues were paid by the seller for 2012, so when the bill comes in January, can I pay monthly for 2013?

I didn't know if you could pay monthly in the current year or just the upcoming year. Do I make any sense??

You can not start paying the January 2013 dues now, current year dues only. Contact Member Accounting, you will need to authorize the monthly debits for 2013 before the 2013 calendar year starts,to give them time to verify with your bank and get everything set up.

You will usually have your choice of debit dates (the 1st or the 15th) The January payment is always the 15th, because it is an "off month" and adjustments from the previous year is made in January. There are adjustments because the taxes are estimated, so there is an adjustment to the actual amount in January.

 

[nala1128]

Since MF change every year, when does Disney announce what they will be for the following year? Since they bill by mid-January, I presume it will be in the next few months? I am curious as we just entered into our first resale contract, so by the time the 2013 bills go out, we should be owners if all goes well

 

[cfw213]

You can not start paying the January 2013 dues now, current year dues only. Contact Member Accounting, you will need to authorize the monthly debits for 2013 before the 2013 calendar year starts,to give them time to verify with your bank and get everything set up.

You will usually have your choice of debit dates (the 1st or the 15th) The January payment is always the 15th, because it is an "off month" and adjustments from the previous year is made in January. There are adjustments because the taxes are estimated, so there is an adjustment to the actual amount in January.

thanks! I will call member accounting and get them to set that up before the end of the year.

Christina

 

[Chuck S]

Since MF change every year, when does Disney announce what they will be for the following year? Since they bill by mid-January, I presume it will be in the next few months? I am curious as we just entered into our first resale contract, so by the time the 2013 bills go out, we should be owners if all goes well

The proposed budget will arrive in the mail prior to the annual association meeting. The budget is formally accepted at the meeting, and bills are mailed out shortly after Christmas.

 

[kristenrice]

I have $40 out of every paycheck direct-deposited into an online bank account so I never see it. Then, when the MF's come due, I go to Target and use my RedCard to buy Disney gift cards. I have to buy quite a few (16-18) since the largest denomination that they sell is $50, but I save 5%. Then I just pay off the Target Card with the money in my online bank account.

I used to use my Disney Visa to pay them off, but this year was the first year I had the Target card. Since dues actually went up a little more than I'd planned for, I made up the "shortage" by saviing the 5% at Target.

 

[belias21]

I have $40 out of every paycheck direct-deposited into an online bank account so I never see it. Then, when the MF's come due, I go to Target and use my RedCard to buy Disney gift cards. I have to buy quite a few (16-18) since the largest denomination that they sell is $50, but I save 5%. Then I just pay off the Target Card with the money in my online bank account.

I used to use my Disney Visa to pay them off, but this year was the first year I had the Target card. Since dues actually went up a little more than I'd planned for, I made up the "shortage" by saviing the 5% at Target.

Now THAT is unique! Interesting approach... I've never actually purchased a gift card at Target - I'm kinda surprised the 5% still applies.

Cool idea though!
B

 

[nala1128]

The proposed budget will arrive in the mail prior to the annual association meeting. The budget is formally accepted at the meeting, and bills are mailed out shortly after Christmas.

Thank you!!!

 

[MickeyFan612]

I have $40 out of every paycheck direct-deposited into an online bank account so I never see it. Then, when the MF's come due, I go to Target and use my RedCard to buy Disney gift cards. I have to buy quite a few (16-18) since the largest denomination that they sell is $50, but I save 5%. Then I just pay off the Target Card with the money in my online bank account.

I used to use my Disney Visa to pay them off, but this year was the first year I had the Target card. Since dues actually went up a little more than I'd planned for, I made up the "shortage" by saviing the 5% at Target.

Wow that's quite impressive. Great job on all your savings

 

[bumbershoot]

This is strictly my opinion, but when I had to make the decision between paying yearly or monthly, I decided to put money aside every month (as if we were paying monthly) but pay yearly with my Disney Visa so I get the rewards. I see it as the best of both worlds.


Posted from DISboards.com App for Android

I think it's the best solution as well, though when we start doing it it will be on our credit union CC, getting different rewards.

Right now, however, we just have it deducted from our checking account each month. I think it's lovely that they allow it this way, and since we have a Feb use year it's almost like we're paying as we go. (would feel different with a Dec UY, I imagine)

We also don't like having to convert the rewards to a second card that expires.

Bill

You could always convert the rewards card into a Disney Gift Card that wouldn't expire, but that's locking the money up with Disney again. And it's another step. We like getting our GCs for places like Old Navy, so we can have "free" clothes for our trips!

 

[AnnaS]

This is strictly my opinion, but when I had to make the decision between paying yearly or monthly, I decided to put money aside every month (as if we were paying monthly) but pay yearly with my Disney Visa so I get the rewards. I see it as the best of both worlds.


Posted from DISboards.com App for Android

Same here.