Purchase--mortgage or credit card?

[MineeBaby]

Hi! One more question about DVC purchasing. My husband and I are looking to purchase from DVC directly using one of their promotions and we cant find an agent to talk to on the telephone this late in the evening about a question we had. We are curious as to payment types accepted. Does anyone know if you can purchase the DVC points from DVC on a credit card, or does it need to be a mortgage type purchase?

Thanks!
Heidi

 

[CarolMN]

Disney will accept a credit card (VISA for sure, don't know what others may be accepted) for a point purchase.

Assume your card has a high enough limit and that you know what you are doing by financing this way (as far as ramifications if you can't or don't pay it off when due).

Best wishes -

 

[MineeBaby]

Oh, goody! Thanks!

No, we wouldn't ever put anything on a credit card unless we could pay it off up front. But, that is good advice you have and I appreciate you looking out for us (and others who might read this thread)

Thanks!
Heidi

 

[landiscarrier]

Get yourself a Chase Disney Card pay for your DVC on the CC and then pay it off and you get FREE DISNEY DOLLARS!!

 

[rocketriter]

One thing to keep in mind as you choose how to finance: many people consider a home equity loan to find the cash, but this has a drawback. A credit card loan or a loan directly from Disney is "unsecured." But a home equity loan is "secured" against your house, which means that the bank can take your house if some tragedy strikes and you're unable to pay off the loan. Knowing this, and unwilling to face credit card interest, we chose to take the Disney loan (with electronic deduction from our checking account, which lowers the interest rate) and then pay it off much faster than scheduled. That might not be right for you, but you should consider all the options.

 

[abner1776]

I used my Delta Amex card to pay for the 14k DVC purchase...I got 14k miles which put me over 50k miles for a free flight. I then paid off the AMEX card the next month...a win win situation.

 

[kiingor]

Can you use credit card if purchase thru resale from timeshare.com

 

[vascubaguy]

One thing to keep in mind as you choose how to finance: many people consider a home equity loan to find the cash, but this has a drawback. A credit card loan or a loan directly from Disney is "unsecured." But a home equity loan is "secured" against your house, which means that the bank can take your house if some tragedy strikes and you're unable to pay off the loan. Knowing this, and unwilling to face credit card interest, we chose to take the Disney loan (with electronic deduction from our checking account, which lowers the interest rate) and then pay it off much faster than scheduled. That might not be right for you, but you should consider all the options.

While this is certainly true, there are many other considerations.
#1 the interest paid on the home equity could be tax deductible
#2 the home equity interest rate is likely going to be much less than DVC
#3 if something happens, you can always sell the DVC contract and use that to pay off the home equity loan

I purchased a 110 point addon and put it on a rewards card to get cash back... it was also 0% interest for 14 months. As the end of the 14 months approached I thought I might have to decrease my payments a little to cover some college costs so I got another 0% interest card (for 12 months) and no balance transfer fees. I ended up not needing it and still plan to have it paid off on-time, but I have that extra padding if I need it.

So, options are there, but you have to be comfortable playing the credit game, if you go that route.

But to answer the OP questions... they'll take your money any way they can get it. Credit card, check, money order, or DVC loan.