Proof of Payment (DVC)

[CanadaDisney05]

I had no idea this could even be done vs. financing. I'm financing via Disney, but it's going through on my CC and not my USD account because I save the foreign exchange fees on my CC.

Does this mean I'm paying interest when I could have just paid it all in larger increments on my CC? I could have paid it off in 3/4 months that way instead of their 'minimum' finance term they offered me.

From the day you agree to the contract you have 30 days to pay in full. It's essentially an 30 day interest free loan. I am making incremental payment over those 30 days to stay under my CC's limit.

 

[Maistre Gracey]

From the day you agree to the contract you have 30 days to pay in full. It's essentially an 30 day interest free loan. I am making incremental payment over those 30 days to stay under my CC's limit.

I can see where you can split the cost once, but confused how to do that with more than two payments.

 

[CanadaDisney05]

I can see where you can split the cost once, but confused how to do that with more than two payments.

Just call in every few days to make another payment. I guess if you want you can pay prepay your credit card, and then make one large payment if you wanted to

 

[Maistre Gracey]

Just call in every few days to make another payment. I guess if you want you can pay prepay your credit card, and then make one large payment if you wanted to

But I don’t see how that splits the credit card cycle..??
Obviously I’m missing something here.

 

[Chuck S]

It doesn't split the cycle, as such. He uses the card up to the limit. Then pays it right away, renewing the limit, so he can use it again as soon as the credit card company posts the payment. This gives him whatever benefits may be associated with the card, while basically paying cash for the contract. If the credit limit was high enough, it could've been done in one transaction, and it could've been paid in the regular credit card cycle.

 

[CanadaDisney05]

It doesn't split the cycle, as such. He uses the card up to the limit. Then pays it right away, renewing the limit, so he can use it again as soon as the credit card company posts the payment. This gives him whatever benefits may be associated with the card, while basically paying cash for the contract. If the credit limit was high enough, it could've been done in one transaction, and it could've been paid in the regular credit card cycle.

This

 

[Maistre Gracey]

It doesn't split the cycle, as such. He uses the card up to the limit. Then pays it right away, renewing the limit, so he can use it again as soon as the credit card company posts the payment. This gives him whatever benefits may be associated with the card, while basically paying cash for the contract. If the credit limit was high enough, it could've been done in one transaction, and it could've been paid in the regular credit card cycle.

Got it. Thanks for the explanation.

 

[anomamatt]

From the day you agree to the contract you have 30 days to pay in full. It's essentially an 30 day interest free loan. I am making incremental payment over those 30 days to stay under my CC's limit.

You can have (much) longer than 30 days if you ask. Member accounting is quite flexible. The guide will want it paid within 30 days (I assume because it doesn’t count for them until you close.

I got them to let me split a $60K purchase over 3 months $20K a month. And I had access to the points on day 1.

 

[Lorana]

If you own a Disney Visa, then you get 6 months to pay it offer with no interest. Earn the points but keep your money for 6 months. I did this back in 2010 with two small add ons. Put all in card and paid in full in 6 months. Disney even let me do the same thing. Half one month and then as soon as I entered a new billing cycle the other half. Was great!!!

AND you get the 2% Disney rewards if you have the Premium Visa (1% otherwise). This is what I did! I also split the payments over 2 billing cycles, which essentially gives me 7 months for half of it, too.