Question re: credit score and DVC

[Alphabetsoup]

Hi all...

This is probably a stupid question but....I've been overseas for 10 years and defaulted (temporarily...it is in the process of being sorted now) on my student loan. (bad girl...yes I know).

Anyway, I'm back in the US now and working to get my credit score sorted out. Has anyone had success buying into DVC even thought their credit score wasn't 'excellent'?

I won't be in a position to consider buying into DVC for another year or so as it is taking longer than planned to sort out the credit issues...but I'm wondering what others experiences have been.

Thanks in advance.

Soupy

 

[disneynutz]

Disney is pretty understanding when it comes to bad credit. If you default on your loan, they take the points back. Not much work involved. You will pay a higher APR but not much.

 

[Kitka]

Yes, we were worried about this because we had medical bill issues in the past with our credit. The guide says that they are very liberal with their credit, but our friends that referred us to the DVC had a 670 score and did not get the preferred credit rate.

10.75% is the preferred rate
14.75% is the standard rate

When we were wondering what ours would come back as, we had figured that over the course of the 10 years, financing 160 AKV points would cost an extra $4,000 if we did not get the preferred rate. I wouldn't do it if was a matter of that much extra financing, personally. Thankfully that was not an issue at this time. I'd wait and really try and scrub up the credit before buying into DVC if you're looking to finance.