I've paid my deposit, is there any benefit in paying the balance early?

[tankwastheworldsbestdog]

I've always paid my balance for each cruise just a couple of days prior to the balance being due, but does paying the full amount any earlier on RCI allow you to book specialty dining, or other perks any earlier?

[pcur]

I've always paid my balance for each cruise just a couple of days prior to the balance being due, but does paying the full amount any earlier on RCI allow you to book specialty dining, or other perks any earlier?

 

I pay my cruises off early because I want the points on my Sapphire Visa card for the air fare to the port! I get double points for travel purchases.

[Clarea]

I've always paid my balance for each cruise just a couple of days prior to the balance being due, but does paying the full amount any earlier on RCI allow you to book specialty dining, or other perks any earlier?

No, paying off the cruise early does nothing for your ability to book dining or get you other perks.

[bouhunter]

none that I can think of

[cb at sea]

That's right...no advantage or disadvantage to letting them have your money before they are due it!

[OCruisers]

No advantages whatsoever in paying until it is due.

 

LuLu

~~~~

[Cigar King]

+1 for paying it off early...I don't like owing money, and it's not like the dough gives me any real benefit, so why not? Peace of mind is worth something.

[edjny]

+1 for paying it off early...I don't like owing money, and it's not like the dough gives me any real benefit, so why not? Peace of mind is worth something.

 

There is also peace of mind knowing that the money for the cruise is sitting in my savings account where I can get it within minutes if I needed it. I move all the money needed for all my booked cruises into a "vacation" savings account a year or more before leaving. The cash stays there until the credit card statement comes in with the cruise payment on it. Then I just move the cash over to the credit card.

[ryano]

+1 for paying it off early...I don't like owing money, and it's not like the dough gives me any real benefit, so why not? Peace of mind is worth something.

 

I totally agree. The peace of mind of knowing my cruise is paid early is worth MUCH more than the mere pennies that money would earn in a savings account.

 

Ive been known to pay off a cruise 3 - 4 months before final payment is due.

[edjny]

I totally agree. The peace of mind of knowing my cruise is paid early is worth MUCH more than the mere pennies that money would earn in a savings account.

 

Ive been known to pay off a cruise 3 - 4 months before final payment is due.

 

It is not the token savings dividend. It is the fact that if something came up that I needed cash in a hurry, it is there. You never know when life throws you a 'curve-ball' and you need cash now to handle it.

[Desert Cruizers]

I pay our cruises off around 1 to 2 months before final date, then I know it is done. I don't like waiting until the final date for fear it may not get recorded immediately so give myself some leeway and check my credit card to make sure it has gone through. I have 3 cruises coming up and paid off the 1 this month and over the next 2 months will pay off the other two.

Edited October 21, 2013 by Desert Cruizers

[nolesrule]

It is not the token savings dividend. It is the fact that if something came up that I needed cash in a hurry, it is there. You never know when life throws you a 'curve-ball' and you need cash now to handle it.

 

Agreed. I'm in the "keep the money liquid" camp. There's just no point in paying it off before final payment. With a cancellation you are at the mercy of the refund timing gods if you've already paid anything more than the deposit.

 

I pay in full a couple days before final payment when going through RCI directly, about a week out with a TA.

[sr4mjc]

When the Royal Visa was giving 3x points on charges it was worth it to pay early, but unless you really need the 2x points early, no real value.

[Jason12]

I work out how many weeks till final payment date and then divide the balance into equal weekly payments..works form me.:)

 

 

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[saurian]

+1 for paying it off early...I don't like owing money, and it's not like the dough gives me any real benefit, so why not? Peace of mind is worth something.

 

We live debt free, and don't even have a true "credit card" just our debit card that can be used as credit (because cruises, car rentals and hotels require them). The day I call and book we have the complete payment, plus airfare, port transfer, soda package, taxes, etc. all in their own "travel savings account" ready to go, separate from our other accounts. This way if life does throw a curve ball (like needing a new car 2 weeks after the trip!), oh well, it does not affect us as our regular accounts are untouched.

 

Actual RCI benefits are none, except the surprise in the agent's voice when you pay in full at booking. Considering the peace of mind that comes from not having a payment in the world, and knowing when we get back there is not a bill waiting for us, and knowing that the weeks leading up to the trip are completely free of the stress of money (because getting travel docs and bags packed and pet sitter's lined up is enough) more than makes up for the 17 cents I would have saved in interest.

[springfire]

I see no advantage to paying off a cruise early!

[DicAnns]

I never pay anything until it is due. For me paying sooner is equivalent to paying a voluntary premium.

[ryano]

We live debt free, and don't even have a true "credit card" just our debit card that can be used as credit (because cruises, car rentals and hotels require them). The day I call and book we have the complete payment, plus airfare, port transfer, soda package, taxes, etc. all in their own "travel savings account" ready to go, separate from our other accounts. This way if life does throw a curve ball (like needing a new car 2 weeks after the trip!), oh well, it does not affect us as our regular accounts are untouched.

 

 

Same here :)

[TerpsBball]

I work out how many weeks till final payment date and then divide the balance into equal weekly payments..works form me.:)

 

I use a similar tactic, except I make it a monthly payment. I set up an Outlook reminder and, as strange as it may sounds, having a cruise "activity" to do every month helps with the withdrawal between sailings.

[Jason12]

I use a similar tactic, except I make it a monthly payment. I set up an Outlook reminder and, as strange as it may sounds, having a cruise "activity" to do every month helps with the withdrawal between sailings.

 

I use reminder on iPhone, set for 12 noon every Sunday...:)

 

 

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[MrsPete]

I can share a couple reasons for paying early, though they won't apply to everyone:

 

- My Discover card offers extra points on certain items every couple months. For example, sometimes it's gas and groceries, other months it's movies and restaurants. Sometimes it's travel. If you can catch it at the right time, you can get extra reward points, which add up more quickly than the interest in my savings account.

 

- If you're using a cruise-ship credit card that gives you OBC, by paying early you'll see your points "credited" in time to get that OBC for THIS CRUISE instead of your next one.

 

Of course, it goes without saying that these methods are only useful if you're paying your credit card in full each month. If you're carrying a balance, you're losing money instead of gaining rewards -- but I digress.

 

- And I do agree with peace of mind. First, I hate owing money to anyone for any reason. Second, I seem to have had more than my fair share of family emergencies lately, and paying ahead of time assures me that IF something should distract me on THE DAY that the money's due, I won't see my reservation cancelled. Of course, this issue could be eliminated by setting up an automatic payment through online banking.

[molly361]

+1 for paying it off early...I don't like owing money, and it's not like the dough gives me any real benefit, so why not? Peace of mind is worth something.

 

 

Same here!!!!:D We have the next 3 paid off already

[wrp96]

I've had more than one person tell me not to pay off a cruise early as it makes it harder to take advantage of price drops.

[Cigar King]

It is not the token savings dividend. It is the fact that if something came up that I needed cash in a hurry, it is there. You never know when life throws you a 'curve-ball' and you need cash now to handle it.

 

Everybody has their own comfort level with these things...there's no right or wrong way to do this, just as long as the cruise is eventually paid for. ;-)

[Cigar King]

I've had more than one person tell me not to pay off a cruise early as it makes it harder to take advantage of price drops.

 

That's not true...the only price drops I have had were on a cruise I had paid off months earlier. The date is what matters, not when you actually pay off the cruise.