Can you explain how the Disney VISA 0% interest offer works?

[leebee]

Can I take advantage of the Disney VISA "0% interest for 6 months on packages" while using my card for regular purchases and not pay any interest on the card if I pay off the regular purchases charges in full each month? I use my Disney VISA for charges that recur monthly- newspaper subscriptions, EZPass, stuff like that. I always pay that off every month and would continue to do so, plus make payments on the package. What I am concerned with is that the payment will go to the lower interest account first, so I'll then be charged interest on the things I usually pay in full... if that makes any sense.

 

[JZ_LBNY]

A little confused on the question, but the package will be 0% you if you pay the rest in full you will pay no interest for 6 months.

 

[Bellex917]

I understand what you're asking, but don't know the answer, however I have found they have EXCELLENT customer service. I had called two weeks ago to see if I wanted to upgrade to the paid card for 2% back bc with inflation and gas prices I know I'd come out way ahead... the person I spoke to was amazing. If nobody here knows definitely call, the few times I've needed to I was impressed with their service.

 

[bnf0522]

Not 100% sure this is what you’re looking for but the only thing that is 0% interest for 6 months is the actual amount you charge for your Disney package. Any “regular purchases” (gas, groceries, subscriptions, etc) must be paid in full each month so you don’t end up paying interest on those.

Hope this helps!

 

[leebee]

Not 100% sure this is what you’re looking for but the only thing that is 0% interest for 6 months is the actual amount you charge for your Disney package. Any “regular purchases” (gas, groceries, subscriptions, etc) must be paid in full each month so you don’t end up paying interest on those.

Hope this helps!

Yes! What I am worried about is... Let's say I have a $235 balance from regular purchases and also $2000 on the Disney 0% offer. I don't want to make a $500 payment and have it all go to the Disney offer and nothing to the regular balance, which of course would then be subject to an interest charge.

Actually, not sure why I am worrying so much. I just planned the trip this week, for the end of August, so I'd have to pay it off by July 19 anyhow. Using the 0% would let me stretch it out, so if they do bill it with a possible interest charge, I'll just pay it all.

 

[Lvsdisney]

Yes! What I am worried about is... Let's say I have a $235 balance from regular purchases and also $2000 on the Disney 0% offer. I don't want to make a $500 payment and have it all go to the Disney offer and nothing to the regular balance, which of course would then be subject to an interest charge.

Actually, not sure why I am worrying so much. I just planned the trip this week, for the end of August, so I'd have to pay it off by July 19 anyhow. Using the 0% would let me stretch it out, so if they do bill it with a possible interest charge, I'll just pay it all.

Credit cards have to apply the money paid to balances with the highest interest rate first. So if you make that $500 payment, $235 will go towards the regular purchases and the other $265 will be applied to your no interest balance. (However, there is a rule about applying payments 2 billing cycles before the deferred interest rate expires so that customers aren't hit with a massive interest due if they don't pay off the deferred interest purchase by the designated time).

This is from the Chase website:

What if I pay more than my minimum balance?​

The Credit CARD Act of 2009 stipulates that any excess payments you make (amounts higher than your minimum payment) should be credited towards the balance with the highest APR. If there is any amount leftover, this will be applied to the balance with the second highest rate of interest. You'll usually make more progress in bringing down your balance faster if you pay more than the minimum balance by your due date, especially if you are being charged interest.

 

[lanejudy]

Yes! What I am worried about is... Let's say I have a $235 balance from regular purchases and also $2000 on the Disney 0% offer. I don't want to make a $500 payment and have it all go to the Disney offer and nothing to the regular balance, which of course would then be subject to an interest charge.

Yes, that will work. As long as you pay the $235 before the due date plus something towards the 0% balance it will be fine. Using your example, I like to split the $2000 into 5-6 payments -- so let's say $334. I would pay $235 + $334 = $569. But I believe that $334 could be as little as $20.

 

[NY Pirate Princess]

You will see the balances on your statement separately. The zero percent amount will be separate from your regular balance. I have never used the offer and always pay in full, but I have seen the amount separately.

 

[Her Dotness]

We've done that.

What you must do is to call Chase each month and tell them you want to pay only the additional non-package charges so as to preserve your 6 mos. 0% interest.

Their agents are accustomed to people doing that and will set it up for you.

Might want to call and ask if that's how it's still done. It's been several years since we used that to pay off a package.

We've been DVC for over 5 years.

 

[moericus]

I believe the special promo balance is on your statement in a separate section under activity.

We paid the activity balance plus (1/6th) of the initial package balance each month. The funds were applied as expected doing that. I watched the promo balance gradually decline while paying zero interest charges.

 

[meremac]

Here's the way it works now. When you go to pay your bill online, you'll see two balances: your interest-free balance and your overall balance. You will be asked whether you want to pay your entire balance, just your interest-accruing balance, or some other amount. It's actually very user-friendly now.

 

[MyGoofy26]

Like a previous poster said, you’ll see two balances. Anything paid goes to the regular interest balance, and any overage is applied to the promotional balance. You don’t have to pay any overage. You could let that 0% balance ride the full 6 months if you wanted.

No need to call anyone. No need to pay a minimum on the interest free balance if you’re paying ongoing charges.