Disney Visa Question

[Shere_Khan]

I have a Disney Visa, have had it for a long time and love it.

But I have a question about the 0% for 6 months when you charge your Disney vacation.

What happens when you charge a vacation but you carry a balance on the card as well? You are still charged interest on the other balance but not on the amount of the trip? I read somewhere that if you have a balance on the card and charge a vacation, it's really not helping you with interest at all. Something about your payments will apply to the other balance first so you won't be paying it off in time. But I don't quite understand how credit card interest works. I was telling my mom that she had plenty of time to pay me since we have 6 months to pay that balance. But now I am wondering how it exactly works.

 

[javs4evas1298]

Whatever payments you make will first go towards any other purchases made on your card so if you are holding a balance this will not help. If you do not pay off the entire balance on your card by the time your 6 months is up you will get hit with interest charges that accumulated over those 6 months. This pretty much only benefits those who pay off the balance monthly.

 

[macsmom]

Someone told me that 2-3 days after you mail your payment (or however you pay), you need to call and speak to a real person and tell them that you want your payment to be applied to your non-interest charge. Not really sure if this can be done, but that is what I was told.

danna

 

[Diane Hughess]

This is exactly the reason I cancelled my card! I had my vaca on it, for what I thought was 6 mos at 0%, then, being a dummy, I bought something with it online for like $100, and I was charged interest on ALL of it. I had called to complain, and they said my payments went towards the $4000 trip first, so I would be paying nearly 20% interest until I paid the ENTIRE balance, trip & all off. I transferred the balance to another card, and closed the acct. I think it's a "Chase" thing. At about the same time, I opened a Circuit City Chase, AGAIN supposed to be 6 mos at 0% on my TV purchase, but when I was billed, it was an outrageous interest rate..they blamed it on how the cashier had rung in the purchase. The store and credit card kept blaming each other, so I had to cancel that one as well. Now I will never enter into ANY agreement with Chase--they are a bunch of scam artists.