Any disadvantages of paying off cruise early?

[screamin400]

I think I recall reading that if you pay off early they could bypass you for upgrades but I was under the impression that upgrades don't come until after everyone has paid? I would only be paying off 45 days early. If for some reason I had to cancel the trip would it be tougher to get a refund? Cruise is pretty much sold out so a price drop or upgrades seem slim at best. Thanks.

[molly361]

We always pay ours off early. I just like to know that it is paid. It does not make any difference in getting your refund as long as you cancel before final payment.

[screamin400]

That is what I was thinking. I would have to cancel before final payment so should I make the final payment 45 days early is the question? It could hurt me.

[karena1]

That is what I was thinking. I would have to cancel before final payment so should I make the final payment 45 days early is the question? It could hurt me.

 

No it won't hurt you. Final Payment is Royal's final payment date, not the date you pay off your cruise. So you can pay it off at any time before the real final payment date and if you cancel before the real final payment date due, you still get a full refund. I have paid many cruises off before the final payment date.

 

In addition, even though you paid it off before you have to, if a price drop occurs before the real final payment date, you can get a refund for the difference b/t what you paid and what the new price is as long as it is before Royal's final payment date.

[screamin400]

I think you may be saying that I can pay off early but have to cancel before the date that the final payment would have been due had I not made it early?

[molly361]

I think you may be saying that I can pay off early but have to cancel before the date that the final payment would have been due had I not made it early?

 

 

That is correct

[sanger727]

If it helps to clarify.. "final payment date" as referred to on here by people in posting is simply the day by which the cruise line requires your cruise to be paid in full.

 

When you look at canceling and read the contract, there is no "final payment date" term in it. It simply says that if you cancel before x number days before the cruise you get a full refund. If you cancel between x-y number of days before the cruise you get refund minus $500 (your deposit). etc, etc, up until the cruise date. They don't care when you make payments, up until that deadline before the cruise you are entitled to a full refund.

[screamin400]

I read that but I have read on here before that there were disadvantages to paying off early. It may have been opinion only with no facts. I don't recall.I do not remember why and cannot find anything derogatory to paying off early. Seems to me that it is something I would prefer to do. Thanks for the advice.

[Cuizer2]

I think I recall reading that if you pay off early they could bypass you for upgrades but I was under the impression that upgrades don't come until after everyone has paid? I would only be paying off 45 days early. If for some reason I had to cancel the trip would it be tougher to get a refund? Cruise is pretty much sold out so a price drop or upgrades seem slim at best. Thanks.

 

You will lose out on the interest on that money for 45 days. At today's interest rate you could be out two cents. That means that the next time you want to offer your two cents worth, you might not have it.

[Clarea]

Only disadvantage that comes to mind is that you cannot transfer your booking to a travel agent once it's been paid in full.

[CRUZBUDS]

you will lose out on the interest on that money for 45 days. At today's interest rate you could be out two cents. That means that the next time you want to offer your two cents worth, you might not have it.

 

lol :d

[screamin400]

You will lose out on the interest on that money for 45 days. At today's interest rate you could be out two cents. That means that the next time you want to offer your two cents worth, you might not have it.

 

I'm married. I don't have the option of offering my two cents :)

[molly361]

you will lose out on the interest on that money for 45 days. At today's interest rate you could be out two cents. That means that the next time you want to offer your two cents worth, you might not have it.

 

 

like!!!

[Cuizer2]

I'm married. I don't have the option of offering my two cents :)

 

Then you lose nothing by paying off the cruise early.

[crusinthrough]

 

In addition, even though you paid it off before you have to, if a price drop occurs before the real final payment date, you can get a refund for the difference b/t what you paid and what the new price is as long as it is before Royal's final payment date.

 

 

On an upcoming cruise I paid off the balance before my TA's final payment date, which was before Royal's final payment date. Then there was a $200 price drop before Royal's final payment and per my TA Royal would not refund the difference or give me OBC. There is so much inconsistency at Royal that it is hard to know what is true.

 

 

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[Clarea]

On an upcoming cruise I paid off the balance before my TA's final payment date, which was before Royal's final payment date. Then there was a $200 price drop before Royal's final payment and per my TA Royal would not refund the difference or give me OBC. There is so much inconsistency at Royal that it is hard to know what is true.

I'd be looking for a new TA. That's not been Royal's policy.

[jndsilver31]

On an upcoming cruise I paid off the balance before my TA's final payment date, which was before Royal's final payment date. Then there was a $200 price drop before Royal's final payment and per my TA Royal would not refund the difference or give me OBC. There is so much inconsistency at Royal that it is hard to know what is true.

 

 

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If you hadn't used a TA but booked with RCI direct you would have gotten a refund. I have gotten refunds on 2 of our cruises when the price had dropped.

[rjrpar]

Maybe no downside but I will never understand the need to spend money sooner than required.

[CRUISEFAN0001]

I'd be looking for a new TA. That's not been Royal's policy.

Agree. For the TA we usually use:

 

It's nothing more than 1) make a call to the TA...2) while we're on hold they call Royal Caribbean to confirm the lower price...and 3) the TA posts an immediate credit to our account for the difference in the price drop. Easy peasy.

[LMaxwell]

A disadvantage I can think of is simply having your money tied up with RCI longer than it need to be; if you needed emergency access to that money for whatever reason you'd be cancelling and waiting for a refund versus having access to it unimpeded. Some have reported it hard to get any price drops once they have paid in full early.

 

I understand some people prefer to pay early so it is "out of the way" but without any discount for doing so, and the difficulty in receiving price drop refunds once you have paid in full, I can't honestly see an advantage to paying in full early. But beyond that personal preference, I've never heard of any advantage come to think of it.

[crusinthrough]

Agree. For the TA we usually use:

 

 

 

It's nothing more than 1) make a call to the TA...2) while we're on hold they call Royal Caribbean to confirm the lower price...and 3) the TA posts an immediate credit to our account for the difference in the price drop. Easy peasy.

 

 

The TA said they called. Even put me on hold for a long time but for all I know I was on hold while someone was eating a snack. I wanted to give TA the benefit of doubt but I was skeptical. I think from here on out I'll book directly with Royal during a WOW/Weekend sale. I prefer to make the calls myself vs having a middle man.

 

 

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[Desert Cruizers]

Many people prefer to keep the money in their bank to gain the interest and make final as close to if not on their printed final date showing on their invoice. I prefer to make final within 2 months of the final date then I know it is paid for. I want some leeway between the call in of payment and final date in case the payment is delayed for any reason. Since I go thru our TA, I notify her when I wish a payment made and she calls the cruise lines who in turn charge the payment to my Credit Card. I receive a statement within the week from my TA

[MrsPete]

Maybe no downside but I will never understand the need to spend money sooner than required.

I can give a few reasons:

 

- It removes the possibility that you'll forget your "due date" and lose your reservation. No, that's not a huge concern, but we all have times when we're super-busy at work or run into a family emergency, and it would be awful to lose THE PERFECT CABIN simply because you let the date slip by.

 

- Occasionally something goes wrong with a payment -- it isn't credited properly, or whatever. Doesn't even have to be your fault, but IF something were to go wrong, you could lose your reservation. If you've paid a week or two early, you'll have time to realize the problem and correct it.

 

- If you pay early using a cruse-line credit card, you may gain enough points to get extra OBC for this cruise. Sure, if you don't do this, you'll still have the points for a future cruise, but why wouldn't you want to use your reward points sooner rather than later?

 

- Once I paid early because Discover was giving extra points for travel-related purchases -- I'll say this deal was in March, and my final payment wasn't due until July; those dates might not be quite right, but I'm illustrating my point, not trying to relate exact details of that situation. The point: By paying early, I gleaned more reward points for my credit card, and that was more than I would've gained by keeping my money in my savings account.

 

- Finally, some people like to make a small payment each month rather than paying everything at the last minute. While I don't buy into that idea personally, and I think that if you "have to" do it that way, you're probably too close to the financial edge to afford to cruise, it's not my business to tell other people how they should manage their finances.

 

 

So, several logical reasons to pay off your balance early.

Edited October 12, 2014 by MrsPete

[MrsPete]

The TA said they called. Even put me on hold for a long time but for all I know I was on hold while someone was eating a snack. I wanted to give TA the benefit of doubt but I was skeptical. I think from here on out I'll book directly with Royal during a WOW/Weekend sale. I prefer to make the calls myself vs having a middle man.

 

 

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I much prefer to manage my own reservations straight through the cruise line.

 

I actually like checking for price drops once a week or so, and I also check for options other than the one I've reserved: That is, I check the price of a cabin up or down a level, check the prices of other ships . . . and then if I find one, I make the changes myself. If I do right, or if I do wrong, it's ME. I trust myself more than a TA.

[travelplus]

If it were me i would just make the payment all at once knowing its been paid for so I can focus on getting airfare/hotels in the destination. This way you know your budget. Lets just say one month that happened to be when your cruise payment was due your paycheck was delayed. At least your covered.