12 month financing offer with 0% interest

[naz022292]

If you need to use a financing plan to go on a cruise, you cannot afford the cruise, plain and simple.

 

It's an absolute fact that a hard credit pull affects your credit score (it's not a major influence, but it still counts). Also, I suspect that this type of 0% financing offer would be on par with 0% promotions that you get at places like furniture or appliance stores (buy now, pay nothing until year 20xx) - these are counted by credit bureaus as "last resort" credit, not necessarily fairly, but it basically has a worse effect on your credit than a normal credit line would.

 

This is simply not true... a simple search online will tell you that. There is a very small reduction when you apply for new credit (for a short time) and then the only other effect on your credit is the ratio of the balance you owe to the available credit on your revolving accounts. Therefore, when you first apply you might see a small dip in your credit score, but as you pay it back you would most likely INCREASE your credit score because of this.

 

I pay my cruise off ahead of time because, like others have said, I don't like the idea of having to pay the bill when I get back BUT I do appreciate the fact that I am able to make my own decisions about how I spend my money. I also appreciate this forum. Learning available options is great. Please don't discourage people from sharing this information just because you don't find it beneficial. To suggest that if someone wants to pay off their cruise over time means that they "can't afford" a cruise is just wrong. Do you have a car loan? Do you have a mortgage? Does that mean you can't afford the car or the house? There are some people out there that wouldn't buy either of those unless they could pay for them in full. Would it be okay for them to suggest you can't afford it if you can't pay up front?

 

Last week I learned from someone on this forum about the 10% off gift certificates from Verizon rewards! I saved $150! Let's try to support people that come on here and give us information/ideas. If you like their idea tell them... if you see a down side, by all means point it out - but please don't assume just because they don't run their finances like you, they shouldn't cruise.

[cruizinisthebest]

Credit pulls do have an effect. But I wouldn't base my decision to apply for credit or not to based on that.

 

In any case I haven't heard of this offer. I guess it could work for some folks. But I will go with the way I been doing it and book early and pay it off over time. Same difference just on the front end. And the only thing you need to worry about is the final payment date....and price drops of course!

 

To the above poster, I so agree with you. Everytime someone brings up something regarding money, here come the preachers trying to tell people how they should do handle their finances. Please save it and stick to the question asked.

Edited October 3, 2014 by cruizinisthebest

[Shayhooper]

This is something I would entertain provided there was no prepayment penalty.

 

I typically use either zero percent financing or take advantage of zero percent credit card offers when buying large dollar value things. Over the past 7 years I have used them to purchase a car, big screen tv, 2 cruises, appliances for our new house, and a tempupedic bed. Even though I could afford to pay cash for most of the items (not the car) I enjoy having the option of paying over time at no cost to me. I figure the more options I have regarding payment the better.

[bruadhin]

Whoever thought that credit pulls does not affect your credit should be aware that it is a fallacy. It certainly is a factor that goes into your credit score.

 

It might affect your credit a few points at most. Unless you are having lots of pulls, about to try and finance a large purchase (house, car, etc.), or apply for a job and already have shaky credit, you won't even notice it.

[jks336]

it sounds like you are applying for the MasterCard they have which is through that bank.

[Hei1980]

This is something I would entertain provided there was no prepayment penalty.

 

I typically use either zero percent financing or take advantage of zero percent credit card offers when buying large dollar value things. Over the past 7 years I have used them to purchase a car, big screen tv, 2 cruises, appliances for our new house, and a tempupedic bed. Even though I could afford to pay cash for most of the items (not the car) I enjoy having the option of paying over time at no cost to me. I figure the more options I have regarding payment the better.

 

There is no prepayment penalty. When we booked we would have had to come up with $500.00

deposit, I don't like CCL having our money so far in advance of our cruise. This was new for

us and after checking it out decided to give it a try. The Carnival PP said the sad thing about

this plan is, the people who lack good credit can not take advantage of it. BTW, it is a credit card to be used only with Carnival, no where else.

[sfaaa]

Great deal. Never say NO to free money.

[ajee622]

Not my cup of tea but if someone else likes it then go for it.

 

I'm not saying I pay cash for everything. I do finance things and use my credit card. But I wouldn't for a vacation.