Question about prepaying annual fees

[rpk1951]

I called and asked if I could pay the annual fee with disney gift cards and was told yes. The customer rep said I could prepay starting any time if I had lots of cards. Has anyone ever done that? Does your account just show a credit balance until they issue the annual bill? Has anyone had a problem with it? I cannot think why I would not do it as I have the cards sitting here.

 

[cvjw]

I prepaid our dues this summer when I had the 5% rewards with the Disney visa. I paid the amount of last year's dues, and have a credit sitting in my account. When I log onto the dvc member site and click on the maintenance fee tab, it shows a credit balance. I will just owe the difference from last year - should be around $175.

 

[love280mickey]

we also just asked that same question yesterday. Yes, you can prepay. Yes you can use the gift cards - go and buy them now from Target and get 20% off by using their coupon - expires tomorrow.

We were also told that we could send a fax giving full instructions, acct #, etc and just list out all the card numbers and amounts. The said it is a secure fax line. Then you wouldn't have to be on the phone with them.

What I am not sure of is if they also want the Security Code which is listed on each card along with the card account number. Anyone know?

 

[Homemom]

we also just asked that same question yesterday. Yes, you can prepay. Yes you can use the gift cards - go and buy them now from Target and get 20% off by using their coupon - expires tomorrow.

Where did you find the coupon?

 

[love280mickey]

Where did you find the coupon?

Target online

 

[Homemom]

Awesome, thanks!

 

[rpk1951]

Thank you. I have multiple Target gift cards.

 

[SleepyatDVC]

My dues are deducted monthly from my bank account. If I prepay some of my dues, how will that affect my monthly deductions. Just wondering. Does any one know, before I call MS and ask myself? Lol.

For example, annual dues are $1200 with monthly deductions of $100. Prepay $600. Monthly deductions are $50. Or still $100 and end in 6 months. Or get all messed up. Or full $600 balance is due in January...

 

[erionm]

My dues are deducted monthly from my bank account. If I prepay some of my dues, how will that affect my monthly deductions. Just wondering. Does any one know, before I call MS and ask myself? Lol.

For example, annual dues are $1200 with monthly deductions of $100. Prepay $600. Monthly deductions are $50. Or still $100 and end in 6 months. Or get all messed up. Or full $600 balance is due in January...

Should not affect monthly payment amount. Call Member Accounting on Monday and ask them, not MS. Same phone number, different option.

Sent from my iPad using DISBoards

 

[LisaS]

My dues are deducted monthly from my bank account. If I prepay some of my dues, how will that affect my monthly deductions. Just wondering. Does any one know, before I call MS and ask myself? Lol.

For example, annual dues are $1200 with monthly deductions of $100. Prepay $600. Monthly deductions are $50. Or still $100 and end in 6 months. Or get all messed up. Or full $600 balance is due in January...

Your monthly payment stays the same but you will stop making payments earlier in the year. In your example, you would continue to pay $100 per month through June.

It gets a bit more complicated if you have multiple contracts. I applied a large gift card to my dues balance a few months ago. MS applied it first to one contract (which covered the full balance due), then applied what was left on the gift card towards the dues on another contract. That left me a small balance on that second contract plus the dues I owe on my third contract. Regular monthly payments continued on contracts #2 and #3 until I paid off the remaining balance on #2. From that point on, I was paying dues only on #3 through the end of the year. The MS CM took the time to explain to me what each remaining payment would be which was helpful since the amounts were different each month!

 

[SleepyatDVC]

Your monthly payment stays the same but you will stop making payments earlier in the year. In your example, you would continue to pay $100 per month through June.

Thanks for the answer! Helps me make some planning before I get to call member accounting myself and ask and make the prepayments.

I think once the 2013 dues are paid in full early, I will add the monthly deduction to our mortgage payment.