Planning an Add-on...questions with my plan...

[kristenrice]

I *think* I might have DH convinced to let me add on at HHI. Here is my plan...

Ultimately, I would like to own 70 points. This will give us either a 1BR EOY or a 2BR every three years. We are a family of 4 so if another point reallocation hits, we should still be set with the 70 points.

Step #1: The First Half, 35 points at $80/point direct from Disney

We have a FEB UY at AKV right now. Since we will use the HHI points for travel in either April or June, that UY will suit us just fine. I am planning on cashing out 70 hours of my vacation time which will net me about $1000. I plan to use this as our "deposit". The remaining $1800 will go on our Disney Visa. This way, I will be able to make 6 payments of $300 each since the Visa gives me 6 months at 0%. The statement closing date on our Visa is the 5th of the month so I want to make my purchase on January 6, 2011. As I understand it, I *should* get my 2010 UY points (no dues) and be allowed to bank them immediately. Then, on Feb 1, I will have 70 points available. Question: When will the maintenance fees for 2011 be due? How long after I "make the call" will I have to pay the dues? I want to start setting aside the funds now so that I will have them when the time comes.

Step #2: The Second Half...
In January 2012, I want to repeat the process, assuming that all goes well the first time.

DH is a little leery about purchasing a property that we have never seen. We've never been to HHI, but we are going in April 2011 for our first stay. Our spring break is always the first full week of April so we got lucky this year in that Easter is late. In future years, we would have a high likelihood of being shutout at the 7-month window when Easter falls in early April. I told DH that if for some strange reason we don't like it there, our 35 points can always be used at WDW.

Help me see through all this pixie dust!! What are the pros and cons to my plan?

 

[5forDiz]

If I recall MFs are to be paid by around Feb.15 latest unless you have monthly debit done ( when we had set this up I definitely remember arranging it during second week of February at which time both Jan & Feb were withdrawn.)

Even purchasing on Jan. 6 there may still be a very small portion of $ due for MFs on 2010 UY points even though MFs are based on calendar year.

Stay tuned to these boards, and your guide, word is SSR is raised to $120 and BLT expected to hit $130 on December 1st; there could be a bump in pricing for other DVC resorts coming as well so waiting could prove to cost you more, but hopefully that will not end up being the case.

Best wishes on your plan & lots of

 

[Sandisw]

I think that your plan sounds great. If you buy in January, you will owe 2011 dues and be billed from the date you purchase. You will not owe any 2010 MF's as you won't have owned the points in 2010. I would plan on need to pay by Feb. 15th.

Since your Visa closes on the 5th, you could put the MF's on that in early Feb and then not really have to finish paying until mid March.

And, putting things on the Visa is great. We added on more points at BLT in August and did the Visa.

Matter of fact, I even asked them if they would delay the final payment until the closing date the following month, in essence giving me 7 months to pay.

So, I bought on August 6th (my statement closes on the 4th) and they didn't charge the balance until September 7th but I had the points to use right away!

Good luck!

 

[kristenrice]

I think that your plan sounds great. If you buy in January, you will owe 2011 dues and be billed from the date you purchase. You will not owe any 2010 MF's as you won't have owned the points in 2010. I would plan on need to pay by Feb. 15th.

Since your Visa closes on the 5th, you could put the MF's on that in early Feb and then not really have to finish paying until mid March.

And, putting things on the Visa is great. We added on more points at BLT in August and did the Visa.

Matter of fact, I even asked them if they would delay the final payment until the closing date the following month, in essence giving me 7 months to pay.

So, I bought on August 6th (my statement closes on the 4th) and they didn't charge the balance until September 7th but I had the points to use right away!

Good luck!

I read somewhere here on the DIS that you could have more than one Chase Visa in your name so I applied for a second card a few days ago. Assuming I am approved, I will use that card ONLY for a DVC add-on. That way, it will be very easy to keep track of the payments and balance. I will use it as soon as I get it to make a small purchase so that I can get my $100 gift card. Then, I'll use that $100 towards the first year of dues. But, if DH decides against the add on, I'll just use the $100 on our vacation next year. The card we currently have closes on the 5th but I don't know if that will be different on the new card.

 

[Sandisw]

I read somewhere here on the DIS that you could have more than one Chase Visa in your name so I applied for a second card a few days ago. Assuming I am approved, I will use that card ONLY for a DVC add-on. That way, it will be very easy to keep track of the payments and balance. I will use it as soon as I get it to make a small purchase so that I can get my $100 gift card. Then, I'll use that $100 towards the first year of dues. But, if DH decides against the add on, I'll just use the $100 on our vacation next year. The card we currently have closes on the 5th but I don't know if that will be different on the new card.

Yes, we have two and ordered the 2nd one last year for the GC as well.

But, that is how I purchased my first two BLT contracts. I used one card for one contract and the other one for the 2nd. I ended up being able to buy both contracts, 180 points total, using the cards and stretched out my payments for 6 to 7 months with no interest!!! It was great!!!