Are there any reasons to make final payment before it is due?

[snorkelman]

I only see a lot of negatives.

 

Other than mentally knowing that you are committed (which could be a "pro" for some), why would you ever pay early?

[CptSticky]

I only see a lot of negatives.

 

Other than mentally knowing that you are committed (which could be a "pro" for some), why would you ever pay early?

Often paying for several cruises at a time. Don't want large balances on my credit card (paid in full every month). So some get paid early. What exact "negatives" are you referring to? Only the official final payment counts for anything and price drops (at least at RCL) still count. You can still cancel and ask for refund. Money earns almost nothing in the checking account these days. Have I missed one?

[Clarea]

I only see a lot of negatives.

 

Other than mentally knowing that you are committed (which could be a "pro" for some), why would you ever pay early?

I cannot see a reason to pay early, unless you don't have the discipline to save up for the cruise.

[Illyria]

I cannot see a reason to pay early, unless you don't have the discipline to save up for the cruise.

I don't need to "save" for my cruise, I can pay for it any time...and I usually pay early so I don't have to worry about forgetting when the final due date is.

[snorkelman]

What exact "negatives" are you referring to?

 

It is my understanding that you will not get a price drop after you have made a final payment (with limited exceptions such as maybe within 48 hours)

 

If you want to change the date of sailing, you will have lost much more money, as not 100% will be transferable.

 

Not everyone keeps liquid assets in a checking/savings account, but even for those who do, that small amount of interest could be a negative for paying off early.

[LMaxwell]

I cannot see a reason to pay early, unless you don't have the discipline to save up for the cruise.

 

I did see one valid reason; depending on where you live you may be able to take advantage of a favorable currency exchange. Also you could potentially trip a reward/cash back/travel credit tier on a credit card (depending on the person or situation)

 

But, generally speaking, I do agree with you. There is no reason to pay earlier than necessary for a cruise, or, frankly anything else that does not save you money or generate any other benefit by doing so.

 

Downsides are: Some have reported not being eligible for price drops after they paid in full (but before final payment date) even though technically they should be. Others have reported getting price drops back as OBC, and not as a refund. And another downside is if you do have to cancel for some reason, you are at the mercy of their return process. I've had deposits refunded within 48 hours, but occasionally you do read on these forums of people chasing money for weeks.

[NightOne]

It is my understanding that you will not get a price drop after you have made a final payment (with limited exceptions such as maybe within 48 hours)

 

If you want to change the date of sailing, you will have lost much more money, as not 100% will be transferable.

 

Not true in my experience.

 

I have received price drops and additional OBC credit after cruise was paid in full but before final payment deadline.

[TBone2K]

For those of paying in US dollars, but not living in the US there is sometimes an advantage to paying early due to currency exchange.

[snorkelman]

Not true in my experience.

 

I have received price drops and additional OBC credit after cruise was paid in full but before final payment deadline.

 

I personally would view OBC for a price drop as a negative. In the event I already had adequate OBC from other sources, I may not need any more, and then I either lose 5% or have to tangle with the chaos at the end of the cruise to get it back without losing the 5%.

[Bowie MeMe]

I have been known to pay cruise early to get bonus points or just regular points on a certain credit card which I then turn into airline tickets. Pay early to meet those requirements for spend bonus, to have an award ticket available (can't wait too long) or to just put the expense in a month that is lighter in bills for some reason. I also would pay early if items (like hotel room etc for pre cruise) were cheaper prepaid than pay at time of service. Not often pay early but I have done so when it is for MY reasons/convenience.

 

Oh the best reason for paying early is that you are on another cruise when payment due!!:D

[NightOne]

I have also had a fully paid (before final payment date) cruise repriced and had to then pay $30 more per person but got an additional $125 per person OBC. (So $250 of OBC for pre-paying $60 of it - a good deal in my book)

[ryano]

I personally would view OBC for a price drop as a negative. I.

 

If you pay your cruise in full early BEFORE the cruises final payment date, they will credit the credit card you used to book the cruise. You do not have to take it as OBC.

[NightOne]

I personally would view OBC for a price drop as a negative. In the event I already had adequate OBC from other sources, I may not need any more, and then I either lose 5% or have to tangle with the chaos at the end of the cruise to get it back without losing the 5%.

 

I had no problem spending it. :)

[ryano]

. (So $250 of OBC for pre-paying $60 of it - a good deal in my book)

 

I would gladly give 60.00 more for the cruise in return for 250.00 OBC. Good deal for sure!

[LMaxwell]

If you pay your cruise in full early BEFORE the cruises final payment date, they will credit the credit card you used to book the cruise. You do not have to take it as OBC.

That's what I thought is supposed to happen but I have read of it being given as OBC in some cases. YMMV.

[Kamloops50]

I only see a lot of negatives.

 

Other than mentally knowing that you are committed (which could be a "pro" for some), why would you ever pay early?

 

I do it to fix the price of the cruise air and insurance coverage for pre existing conditions.

[NightOne]

I would gladly give 60.00 more for the cruise in return for 250.00 OBC. Good deal for sure!

 

I thought so too. It only took me 30 seconds to give them my credit card info for that one. LOL

 

Although it did seem a tiny bit odd having to pay more on a cruise that had been paid off for awhile by that time. :)

[ryano]

And the reason I pay my cruise off early is because the peace of mind of knowing my cruise is PAID IN FULL > than the pennies that money would earn in my account. Thats good enough reason to me :)

 

I will very likely go ahead and pay my 2016 cruise in full in a couple big installments over the next couple of months and then start working on drink package purchase etc.

 

It might not make sense to some but it makes sense and works for me so thats all that matters :)

[Ourusualbeach]

I personally would view OBC for a price drop as a negative. In the event I already had adequate OBC from other sources, I may not need any more, and then I either lose 5% or have to tangle with the chaos at the end of the cruise to get it back without losing the 5%.

 

Set up your account as a cash account and you can withdraw money at the casino without the 5% fee.

[ryano]

That's what I thought is supposed to happen but I have read of it being given as OBC in some cases. YMMV.

 

They gave me a choice :) I had them credit the card back.

[Retired LEO]

It is my understanding that you will not get a price drop after you have made a final payment (with limited exceptions such as maybe within 48 hours)

 

If you want to change the date of sailing, you will have lost much more money, as not 100% will be transferable.

 

Not everyone keeps liquid assets in a checking/savings account, but even for those who do, that small amount of interest could be a negative for paying off early.

 

It doesn't matter when you made final payment. They go by the date the final payment is due.

[snorkelman]

I appreciate everyone's feedback. I am learning some things from this thread. Other things I have personally experienced some things differently than others, but it is nice to see feedback.

 

I never considered the foreign currency aspect.

[Kartgv]

I have been known to pay cruise early to get bonus points or just regular points on a certain credit card which I then turn into airline tickets....

 

This is why we occasionally pay early - need a few more points for either a flight or hotel using points/miles. One time we paid the 1st leg of a high-cost B2B early, as paying both legs at once would have gotten us closer to our credit card credit limit than we're comfortable being. We always like to have plenty of credit available just in case of any emergency, even though we pay off all our cards monthly.

Edited May 11, 2015 by Kartgv

[OCruisers]

Absolutely no reason to pay until it's due! ;)

[CptSticky]

It is my understanding that you will not get a price drop after you have made a final payment (with limited exceptions such as maybe within 48 hours)

 

If you want to change the date of sailing, you will have lost much more money, as not 100% will be transferable.

 

Not everyone keeps liquid assets in a checking/savings account, but even for those who do, that small amount of interest could be a negative for paying off early.

We have received price drops after we have made final but before the official final. It is however quite a hassle as we use a TA and Royal sends them their commission when we pay the final. So, there is a big hassle with the commission having to be refunded/adjusted. As for your statement that there would be a loss of money in case of transfer, I believe it to be incorrect but have not actually done this so can't prove it. I have however had money paid down on a cruise that was moved and it was no problem to move the money to a new cruise. There are actually several "final" payment dates and I think this might be causing the confusion. One by most travel agencies, one by people paying early and the official one by the cruise line (which can vary by country).