Question about my Chase card

[tam626]

I put my deposit on my Disney trip on the card in May & it's interest free until November. When I put the balance of the trip on in September, do I get 6 more months of free interest for that?

 

[Evil Queen 2]

I put my deposit on my Disney trip on the card in May & it's interest free until November. When I put the balance of the trip on in September, do I get 6 more months of free interest for that?

Yes you do

 

[tam626]

Thanks.

 

[ROEDISNEY]

Yes you do BUT when you buy other things and start paying on your card it dosen't skip that as far as payment if I am explaining that right. Meaning if you use the card then you don't have no % free till 6 months. You can call them the cc let them explain it to you more clearly. Sorry. It happen to me I was under the same inpression. So call them.

 

[licountrygirl]

I got the card in March and have been using for everything to gather up reward dollars. I haven 't had ANY interest charges at all - not on the vacation package deposit and not on anything else. It might be because I am paying large chunks every week, but I do have a revolving balance.

I called Chase with the same question as the OP and they told me that the balance ( when charged) will also have no interest for 6 months.

 

[Belle1962]

It depends what terms you were offerred. 6 months no interest, no interst on vacations, no interest on balance transfers, etc. And "no interest" usually means deferred interest, if you don't pay off the balance you often owe the full interest on the entire purchase.

That being said, I can't remember the exact order but if you use the card for items that are not included in the "interest free" promotion then you may run into a problem. Your payments are used to pay fees & interest, non 0% purchases, cash advances/balance transfers, then the 0% balances LAST/or another way to explain it--if you have mixed interest free and regular purchases on your card then the interst free balance is paid last with your monthly payment--if any is left. What this means is if you bought a $500.00 item interest free for 6 months item(s) and then put other things on the card---and only make minimum payments--at the end of the 6 months there may be a balance on the $500.00 interest free stuff. Thus-you have NOT paid off the item in the 6 months indicated and often will have to pay the interest on the entire purchase.

My advice to anyone who has other options, if you have something on an interest deferred payment do NOT use/put non interest items on it. This keeps it very clean cut and easy to manage.

Also to the OP: I don't think they will give you an additional 6 months free on your original deposit if your terms were 6 months interest free on that purchase. I would make sure that has been paid in full before putting the additional balance on the card. Again--it depends what terms you have been offerred. Not everyone on these boards will receive the same offers on the same card, so what works for them may not be what your terms are. Check your terms. If you have lost your terms then call and ask for a copy to be sent to you.

 

[ROEDISNEY]

I got the card in March and have been using for everything to gather up reward dollars. I haven 't had ANY interest charges at all - not on the vacation package deposit and not on anything else. It might be because I am paying large chunks every week, but I do have a revolving balance.

I called Chase with the same question as the OP and they told me that the balance ( when charged) will also have no interest for 6 months.

I do the same thing as you pay big chunks each week to avoid any charges. But my parents don't. So I called. They told me when you purchase say gas then you make a payment it doesn't go to the gas it goes toward the purchases before that. So say it was your Disney hotel $200 depo. Then your payment goes toward that not your gas. That's the was it was told to me. So techinally you don't get six months intrest free if you use your card for anything else. I hope I expained it right. But that's how it works.

 

[leebee]

Call Chase and check with them. I just read my card agreement and it says that payments will first be allocated to purchases with the lowest interest rate. Makes sense, charging interest is how Chase makes their money. However, I think this means that if I have a Disney vacation charge (at 0% interest) and other charges (gas, groceries, whatever- which carry a 12% interest rate), Chase will put whatever amount I pay towards the 0% stuff first and the 12% stuff after that. SO...If there is a $500 charge from a Disney vacation and a $1500 charge from groceries, gas, etc., and I make a $1500 payment, the money will be used to pay $500 towards the Disney vacation first and the remaining $1000 will go towards the rest of the charges, leaving me with a $500 balance that will be charged 12% interest!!!

I think that if you only use the Chase card for the Disney vacation you won't accrue interest...just don't charge ANYTHING ELSE on this account!!! I'd call Chase and double check.

 

[tam626]

Thanks everyone. I pay off anything else on the bill each month when it comes & so far the down payment is interest free. I should call & make sure that interest won't be added later though.

 

[MrSanderz]

Call Chase and check with them. I just read my card agreement and it says that payments will first be allocated to purchases with the lowest interest rate. Makes sense, charging interest is how Chase makes their money. However, I think this means that if I have a Disney vacation charge (at 0% interest) and other charges (gas, groceries, whatever- which carry a 12% interest rate), Chase will put whatever amount I pay towards the 0% stuff first and the 12% stuff after that. SO...If there is a $500 charge from a Disney vacation and a $1500 charge from groceries, gas, etc., and I make a $1500 payment, the money will be used to pay $500 towards the Disney vacation first and the remaining $1000 will go towards the rest of the charges, leaving me with a $500 balance that will be charged 12% interest!!!

I think that if you only use the Chase card for the Disney vacation you won't accrue interest...just don't charge ANYTHING ELSE on this account!!! I'd call Chase and double check.

My Disney Chase Card does not work this way. They apply my payment to my monthly purchases first and the Disney vacation charge does not accrue interest. I paid an $800 DCL deposit a few months ago and still use the card for everything else. Every month I pay the balance MINUS the $800 and have not paid a cent in interest yet. The Disney Chase card is the only card I have that works this way.

 

[starwood]

What I usually do is pay off the balance every month of everything except the 0% THEN I will make a small payment toward to 0% balance so by the time 6 months is up I have it almost paid for.

 

[tam626]

What I usually do is pay off the balance every month of everything except the 0% THEN I will make a small payment toward to 0% balance so by the time 6 months is up I have it almost paid for.

Yeah, that's what I'm trying to do too.