Sending in extra loan payments

[dvcfamily41801]

We have the auto deduction of our loan each month and I would like to start sending in additional payments. What is the best way to do this? I see on the MS website that you can put them on a Credit/Debit card. I guess I could do that each month put it on a Debit card that comes out of our checking acct. but did not know if anyone has done this and how it works out.

Thanks!

 

[nzdisneymom]

We have the auto deduction of our loan each month and I would like to start sending in additional payments. What is the best way to do this? I see on the MS website that you can put them on a Credit/Debit card. I guess I could do that each month put it on a Debit card that comes out of our checking acct. but did not know if anyone has done this and how it works out.

Thanks!

It's easy enough - I've made extra payments through the dvcmembers.com with no problems at all. The only thing is that you can't make the extra payment when it's a few days before your auto-deduction because it indicates you have a pending transaction (which is your auto-pay). But other than that, pay away!

 

[Maribel]

If your card is the disney card, do it with it. That way you will also get the points to spend on your vacations.

 

[Laxmom]

I would also use my Chase card; the points are one benefit. The other is that I would NEVER use my bank check card over the internet. Those cards don't offer you the same protection against fraud that the regular credit cards do. Your account could be cleaned out and overdrawn before you knew there was a problem. With the cc, you are not responsible for any amount while under investigation; the a check card, you won't get your money back until the investigation is complete. At least that is how our bank works. I would pay extra with the cc, reap the points and then pay the cc with a direct debit from your checking acount.

 

[dvcfamily41801]

I would also use my Chase card; the points are one benefit. The other is that I would NEVER use my bank check card over the internet. Those cards don't offer you the same protection against fraud that the regular credit cards do. Your account could be cleaned out and overdrawn before you knew there was a problem. With the cc, you are not responsible for any amount while under investigation; the a check card, you won't get your money back until the investigation is complete. At least that is how our bank works. I would pay extra with the cc, reap the points and then pay the cc with a direct debit from your checking acount.

Thanks for that advice, I did not think of that.

 

[nunzia]

Do you use Bill Pay? I always throw extra money on stuff during the month with Bill Pay with no problems.

 

[Laxmom]

If you have the option of direct debiting the extra payment from your checking, that would be a good option also. (I used to work in a bank. I can't tell you how many people had fraudulent charges after using their check cards on the internet.)