Disney Visa Vacation Financing?

[stephe1987]

Is the 0% interest for 6 months from the date you book your trip, or the date you charge the balance of your trip? Or do you have to charge the entire cost of the trip to your card when you book it?

Thanks!

 

[rainydayplay]

Is the 0% interest for 6 months from the date you book your trip, or the date you charge the balance of your trip? Or do you have to charge the entire cost of the trip to your card when you book it?

Thanks!

I believe it is 6 months from the date of booking, and the 0% would be for whatever amount is financed through the card, and you must book through Disney World directly. (Someone else correct me if I'm wrong.)

Unless you are doing a last-minute trip, though, you can put a $200 deposit down when booking a trip through Disney and take as long as you need to pay and pay in installments as long as the package is paid for 45 days before your date of arrival, and they don't charge you anything for doing that.

 

[illuminationsfanatic]

I booked my trip in April, but paid it all off using my Disney Visa in June. My statement says that I have 0% interest until the end of December. The 6 months starts from when you charge portions of your trip, not necessarily when you book it. At least that's how it worked for me.

 

[Claire&TheBoys]

I booked my trip in April, but paid it all off using my Disney Visa in June. My statement says that I have 0% interest until the end of December. The 6 months starts from when you charge portions of your trip, not necessarily when you book it. At least that's how it worked for me.

Yes, that's right.

You have 6 months without interest on every package payment you make to Walt Disney Travel Co. That is the $200 deposit, total pay-in-full amount, or whatever smaller amounts in between.

Note: You don't get the 0% interest on room-only deposits or the room charges charged during your trip.

 

[ShelsGoingToDisney]

When you book you will have to put down a $200 deposit. You will have 6 months to pay off that $200. You will need to pay the balance at the 45 day mark. You will then have 6 months from that 45 day mark to pay off the balance amount.

 

[stephe1987]

Thanks!

 

[stephe1987]

... and is it any vacation package at DLR or WDW, or do you have to have certain hotels/dining/etc.? Because it says special vacation financing on select Disney resort packages?

 

[Marionnette]

... and is it any vacation package at DLR or WDW, or do you have to have certain hotels/dining/etc.? Because it says special vacation financing on select Disney resort packages?

It's pretty much any vacation package that is booked directly with the Walt Disney Travel Company. You can book it yourself or through a travel agent. Packages that are booked through agents like Expedia, USAirways Vacations and the like do not qualify since the payment shows up on your credit card as going to those entities rather than as WDTC.

 

[julieanddanny]

And just a heads up. I'm pretty sure this is the case: If you cantinue to use the card for other purchases - any payments made usually go to the lowest interest rate first so you will accrue interest on the rest of unpaid balance.

So if you use it for the financing, then you can't use the card for anything else in that time frame without accruing interest on those additional purchases. Since we use our card regularly, the 6months @ 0% does us no good.

If anyone knows a way around this I'd be happy to hear it!

 

[Marionnette]

And just a heads up. I'm pretty sure this is the case: If you cantinue to use the card for other purchases - any payments made usually go to the lowest interest rate first so you will accrue interest on the rest of unpaid balance.

So if you use it for the financing, then you can't use the card for anything else in that time frame without accruing interest on those additional purchases. Since we use our card regularly, the 6months @ 0% does us no good.

If anyone knows a way around this I'd be happy to hear it!

Totally wrong!

Title I, Section 104 (4) of the 2009 Credit Card Reform Act requires credit card companies to apply payments to the debts with the HIGHEST interest rate first.

However, the minimum payment is applied to the debts under the promotional rate first and then anything above the minimum payment is applied to the debts with the higher interest. So if you have $3000 on a 0% promotional rate and then another $1500 in purchases at the regular rate with a minimum payment of $50, you would need to make a payment of $1550 that month in order to avoid any interest from accruing.

 

[ekatiel]

I was just going to come on here and ask this question . Thanks, OP! We're going in November, but the last 4 nights of our 12 night stay are going to be through a conference with DH's work. We booked a package in order to get free dining, so if I pay the package at the 45 day mark, then I pay off our portion of the vacation, I can still leave DH's work's portion on the Visa without having to pay interest, right? As long as he gets reimbursed before our 6 months is up, then we'll be ok, right? We could use savings to pay the whole thing, but if it's going to sit there interest free, we might as well wait for DH's work to reimburse. Do I have this all figured out correctly??! --Katie

 

[Shanna-like-Banana]

We use the 0% everytime we make a package purchase.

In order to really be able to use the 0% is if you have no other balance on the card what-so-ever.

As PP stated if you do have any purchases balance on the card, when you go to make the payment it will pay off your "purchases" balance.

If you are able to use the card soley for WDW package purchase and not make any other charges to the card for 6 months than you are good to go.

but I have found a "LOOPHOLE" so to say.
If you have a balance on your card, other than your WDW package purchase, you can still pay directly and soley to the package purchase ONLY if you are within 30 days of the promotional 0% is set to expire. Basically at the 5 month mark.

On 2 seperate times within the last year, I have made payments soley to the vacation package purchase, while still having a regular "purchases" balance, at the 30 days from promo 0% period to expire.

So, it can be done. It's very tricky, you have to plan well and known their own rules. You may have to talk to a few people until you get somebody who understands what you are asking for, but it def can be done.

 

[levenhopper]

Note: You don't get the 0% interest on room-only deposits or the room charges charged during your trip.

Do we get the 0% towards tours/Cirque du Soleil tickets? I've booked a vacation package, and added on a tour and Cirque du Soleil tickets, but they showed up as three different charges. Is the 0% only on the vacation package, or on everything?

UPDATE: Found the answer - 0% is ONLY on vacation packages.

 

[heartsy77]

I just got mine yesterday and what is the special DVC financing?

 

[Marionnette]

We use the 0% everytime we make a package purchase.

In order to really be able to use the 0% is if you have no other balance on the card what-so-ever.

As PP stated if you do have any purchases balance on the card, when you go to make the payment it will pay off your "purchases" balance.

If you are able to use the card soley for WDW package purchase and not make any other charges to the card for 6 months than you are good to go.

but I have found a "LOOPHOLE" so to say.
If you have a balance on your card, other than your WDW package purchase, you can still pay directly and soley to the package purchase ONLY if you are within 30 days of the promotional 0% is set to expire. Basically at the 5 month mark.

On 2 seperate times within the last year, I have made payments soley to the vacation package purchase, while still having a regular "purchases" balance, at the 30 days from promo 0% period to expire.

So, it can be done. It's very tricky, you have to plan well and known their own rules. You may have to talk to a few people until you get somebody who understands what you are asking for, but it def can be done.

Wrong!

As I stated before, this is against the Credit Card Reform Act of 2009. They cannot, by law, apply your entire payment to the debt under the promotional rate before applying all but the minimum payment to the outstanding debt under the higher interest rate.

The exceptions would be when you are within 30 days of the expiration of the promotional rate OR if you make additional payments during the billing cycle.

IN OTHER WORDS:

• Let's say that you have $3,000 under the promotional rate and another $1500 under the regular rate with a $50 minimum payment for the month.
• If you make a payment of $1550 before the due date, you will avoid any interest charges.
• If you then make more charges and more payments during the billing cycle, the payments will go toward the debt under the 0% APR and not the new charges, which are under a grace period until your account is resolved at the end the current billing cycle.
• If you make new purchases but no additional payments during the new billing cycle, then your next bill will show the new charges at the regular APR and the debt under the promotional rate will be $2950.

I repeat - YOU DO NOT NEED TO REFRAIN FROM USING YOUR CARD JUST BECAUSE YOU HAVE TAKEN ADVANTAGE OF THE 6-MONTH PROMOTIONAL RATE!!!!!! You just need to understand how and when your payments will be applied to your account.

 

[Shanna-like-Banana]

pardon me,

but the "purchases" would be the higher interest rate, and that is what your payment would be applied to if you are carrying a balance other than the vaction package purchase.
Unless you pay above and beyond your "purchases" balance, then anything you pay in addition above and beyond your purchases balance would fall to your vacation package purchase, since your higher rate balance would be wiped out from your payment.

we are explaining the exact same point

 

[rantnnravin]

Totally wrong!

Title I, Section 104 (4) of the 2009 Credit Card Reform Act requires credit card companies to apply payments to the debts with the HIGHEST interest rate first.

However, the minimum payment is applied to the debts under the promotional rate first and then anything above the minimum payment is applied to the debts with the higher interest. So if you have $3000 on a 0% promotional rate and then another $1500 in purchases at the regular rate with a minimum payment of $50, you would need to make a payment of $1550 that month in order to avoid any interest from accruing.

pardon me,

but the "purchases" would be the higher interest rate, and that is what your payment would be applied to if you are carrying a balance other than the vaction package purchase.
Unless you pay above and beyond your "purchases" balance, then anything you pay in addition above and beyond your purchases balance would fall to your vacation package purchase, since your higher rate balance would be wiped out from your payment.

we are explaining the exact same point

You guys are actually saying the opposite

According to Marionette, if I have a $300 promotional balance and a $50 purchase balance, and my minimum payment is $40, I would have to pay $90 in order to not be charged interest IOW: the minimum payment of $40 goes to the promo balance - leaving $260 at 0% interest THEN anything above it (ie the other $50) would go to purchases.

What Shanna is saying is if I have a promotional balance of $300 and a $50 purchase balance, and my minimum payment is $40, If I pay $50 it would go towards the purchase balance in its entirety, leaving the $300 promotional balance intact.

soooooooo,

 

[stephe1987]

If it's against the law for them to apply more than the minimum balance to the lowest interest charge, and anything over that must go toward the highest interest, then they cannot do that. And if you did notice anything strange on your billing, you need to call them up and if they still won't resolve the issue then you need to speak with a lawyer.

So $50 (minimum payment) goes toward the promotional rate.
And anything over that must be toward the highest interest rates in descending order until it gets back to the promotional stuff (which you have 6 months to pay off with no interest).

I think that is a good law because they can still make money by applying the minimum payment to the lowest interest first, but they won't mess you over by not paying at all on the high interest items if you go over the minimum payment.

 

[julieanddanny]

THANK YOU - Didn't know about that act. I remember having an issue in the past with another card.