Mcdonaldbam Posted July 18, 2017 #376 Share Posted July 18, 2017 You should not use tomorrow's money for purchases that don't last long (groceries, children's clothing, soap, gasoline, cruises ...) you should not finance these purchases. However, things that will last a long time (home, cars, major appliances ...) it make sense to finance these purchases. I pay off my credit cards every month. Not everyone is irresponsible with money or lives paycheck to paycheck either. I always use tomorrow's money for purchases. I put everything on my credit card. That way my money stays in my interest receiving accounts until I pay the credit card in full each month. I get reward points on my cards so I redeem them for OBC on my cruises as a bonus. Link to comment Share on other sites More sharing options...
Rare John&LaLa Posted July 18, 2017 #377 Share Posted July 18, 2017 I thought interest bearing accounts went away in the last century Sent from my HTC One_M8 using Forums mobile app Link to comment Share on other sites More sharing options...
Mcdonaldbam Posted July 18, 2017 #378 Share Posted July 18, 2017 Nope, the account ain't paying what it used to but anything is better than nothing. I've had the account for 30+ years. Link to comment Share on other sites More sharing options...
luv4cruises Posted July 19, 2017 #379 Share Posted July 19, 2017 (edited) I don't like the non Refundable deposit! RCI is looking for another way to make cruising less user friendly! Many cutbacks lately- in May I discovered that a charge for room service had been implemented. So many perks have been cut. I can only hope that the other cruise lines do NOT follow suit. RCI is noted for deceptive deals- whether it's kids sail free or BOGOHO, or 30,30,30 the price is always close to what is their usual fare. Rarely does one get a true deal! They never offer good deals- like free drink packages or free gratuities or significant on board credit like Celebrity, Princess and HAL. Yes, RCI has the WOW factor - but not much else in terms of pricing or what used to set cruising apart from land based vacations! I'll be sticking with the three cruise lines mentioned above. Edited July 19, 2017 by luv4cruises Link to comment Share on other sites More sharing options...
Rare John&LaLa Posted July 19, 2017 #380 Share Posted July 19, 2017 Nope, the account ain't paying what it used to but anything is better than nothing. I've had the account for 30+ years. We have an interest bearing checking account. Opened it with First Union in 2000, then it became Wachovia, now it's Wells Fargo. It pays about 19 cents a month. [emoji33] Sent from my HTC One_M8 using Forums mobile app Link to comment Share on other sites More sharing options...
hapster85 Posted July 19, 2017 #381 Share Posted July 19, 2017 We have an interest bearing checking account. Opened it with First Union in 2000, then it became Wachovia, now it's Wells Fargo. It pays about 19 cents a month. [emoji33] Sent from my HTC One_M8 using Forums mobile app I usually get a good chuckle when the interest posts to our savings accounts each quarter. The larger one earned a whopping $1.12 last quarter. Obviously not using these accounts for their growth potential. Link to comment Share on other sites More sharing options...
bUU Posted July 25, 2017 #382 Share Posted July 25, 2017 So I wonder what has changed in the last year or so that would account for Royal Caribbean, Carnival, Holland America, and perhaps others to now make changes toward making non-refundable the default? This message may have been entered via voice recognition. Please excuse any typos. Link to comment Share on other sites More sharing options...
Rare LMaxwell Posted July 25, 2017 #383 Share Posted July 25, 2017 So I wonder what has changed in the last year or so that would account for Royal Caribbean, Carnival, Holland America, and perhaps others to now make changes toward making non-refundable the default? This message may have been entered via voice recognition. Please excuse any typos. Strong demand means they don't have to play the full refund until final payment game. More solid bookings lets them hold the line on prices as well. I guess consumer confidence and discretionary spending is way up for travel and entertainment. Link to comment Share on other sites More sharing options...
bouhunter Posted July 25, 2017 #384 Share Posted July 25, 2017 So I wonder what has changed in the last year or so that would account for Royal Caribbean, Carnival, Holland America, and perhaps others to now make changes toward making non-refundable the default? This message may have been entered via voice recognition. Please excuse any typos. They got tired of the volume of cancellations by people who were booking far more cruises than they were actually taking. RCCL even identified serial abusers who were doing it in ridiculous numbers with suites. Link to comment Share on other sites More sharing options...
Cuizer2 Posted July 26, 2017 #385 Share Posted July 26, 2017 So I wonder what has changed in the last year or so that would account for Royal Caribbean, Carnival, Holland America, and perhaps others to now make changes toward making non-refundable the default? This message may have been entered via voice recognition. Please excuse any typos. From around the end of 2008 until about the end of 2016 the cruise lines had to keep prices low to keep their ships full. Apparently that is no longer a problem, so now the cruise lines believe that they can increase prices and keep their ships full. However, it maybe that the cruise lines have noticed that come final payment time, many people are cancelling which is forcing the cruise lines to offer those cabins at reduced prices in order to keep their ships full. So the cruise lines seem to be experimenting with ways to avoid that. If they notice that they had to sell a lot of $5,000 cabins for $4,000 because they only had 75 - 90 days to fill those cabins, then they can increase the deposit to $500 per person and make it nonrefundable. Then, if the person cancels, they can still sell the cabin for $4,000 and still collect $5,000 because of the nonrefundable $500 each deposit. I just purchased a pre-cruise hotel room for what I believe is a really good price, but it is completely non-refundable. I don't book any cruises I don't intend to take. However, I have changed a few because of one thing or another. I would view a nonrefundable deposit the same way I view a non-refundable airline ticket or a nonrefundable hotel room. Usually I purchase these non-refundable rooms or airfare around the same time I make final payment. However, in this case final payment is due in about eight weeks and I will likely make the final payment in about six weeks, so I am not that early. I still don't have my air yet either. It all comes down to how much the difference is between the refundable fare and the nonrefundable fare, how much am I risking, what are the chances I'll have to cancel or change, and can I buy insurance. Insurance will not cover a change, but would likely cover a cancellation. Where I see a problem is if you find out that a ship is going to be chartered, but it hasn't been chartered yet. Then you are stuck waiting for the official word and the cruise you want to change to is starting to fill. Then what do you do? Link to comment Share on other sites More sharing options...
Rare LMaxwell Posted July 26, 2017 #386 Share Posted July 26, 2017 I'm not an accountant, someone correct me if wrong, but isn't a refundable deposit booked as a liability, and a non-refundable deposit booked as an asset; thus showing earnings growth sooner for stock markets? Link to comment Share on other sites More sharing options...
Biker19 Posted July 26, 2017 #387 Share Posted July 26, 2017 I'm not an accountant, someone correct me if wrong, but isn't a refundable deposit booked as a liability, and a non-refundable deposit booked as an asset; thus showing earnings growth sooner for stock markets? I kind of doubt RCCL is in a position to game their bottom line for such a short term bump. Link to comment Share on other sites More sharing options...
bUU Posted July 26, 2017 #388 Share Posted July 26, 2017 I bet it depends on the accounting model used, but if I remember college Accounting correctly, deposits are booked as unearned revenue and a liability. At the end of the cruise, the liability is satisfied and the full amount of the cruise is booked as earned revenue. Unless they're doing something creative, it shouldn't matter if the deposit is refundable or non-refundable because the liability is the same, and the customer perceives no value until the cruise itself. So if the cruise is taken, there's no difference whatsoever. If the cruise is canceled with a refundable deposit, then the liability is satisfied and the unearned revenue never becomes earned revenue. If the cruise is canceled with a non-refundable deposit, then the liability is satisfied and the deposit becomes earned revenue. Neat and tidy. Link to comment Share on other sites More sharing options...
bouhunter Posted July 26, 2017 #389 Share Posted July 26, 2017 I'm not an accountant, someone correct me if wrong, but isn't a refundable deposit booked as a liability, and a non-refundable deposit booked as an asset; thus showing earnings growth sooner for stock markets? Assets and liabilities are on the balance sheet, not the income statement ("earnings"). Changes in assets/liabilities can affect the income statement, but I doubt manipulating the balance sheet for stock market purposes is one of the reasons for the new deposit policies.:) Link to comment Share on other sites More sharing options...
bouhunter Posted July 26, 2017 #390 Share Posted July 26, 2017 Neat and tidy. I'm sure the CPA's out there would beg to differ, but I don't know if anything about accounting is "neat and tidy".......:p ;p Link to comment Share on other sites More sharing options...
Rare LMaxwell Posted July 26, 2017 #391 Share Posted July 26, 2017 I kind of doubt RCCL is in a position to game their bottom line for such a short term bump. It's not really gaming. You're capturing money sooner in the process. I'd figure a non-refundable deposit is gone the second you make payment so how else would company account for it other than revenue? Link to comment Share on other sites More sharing options...
Biker19 Posted July 26, 2017 #392 Share Posted July 26, 2017 It's not really gaming. You're capturing money sooner in the process. But it's one time thing - once this transition happens, it will be the norm, and no real affect on the bottom line. Link to comment Share on other sites More sharing options...
Goodtime Cruizin Posted July 26, 2017 #393 Share Posted July 26, 2017 They got tired of the volume of cancellations by people who were booking far more cruises than they were actually taking. RCCL even identified serial abusers who were doing it in ridiculous numbers with suites. This. Cabin / Suite Hogs have been dealt with. Link to comment Share on other sites More sharing options...
mcrcruiser Posted July 26, 2017 #394 Share Posted July 26, 2017 Just a new marketing Gimic . What it definitely impacts is that those using the non refundable price features will HAVE to buy trip insurance . This program imo is NOT GOOD for the PUBLC . More a way for RCCL to build their top & bottom lines much quicker Link to comment Share on other sites More sharing options...
bouhunter Posted July 26, 2017 #395 Share Posted July 26, 2017 This. Cabin / Suite Hogs have been dealt with. Yep:) Link to comment Share on other sites More sharing options...
Biker19 Posted July 26, 2017 #396 Share Posted July 26, 2017 This program imo is NOT GOOD for the PUBLC. If you want that, look for a gov't run program, not a company accountable to shareholders.:cool: Link to comment Share on other sites More sharing options...
mcrcruiser Posted July 26, 2017 #397 Share Posted July 26, 2017 If you want that, look for a gov't run program, not a company accountable to shareholders.:cool: There are worthy ways to make a profit & satisfy share holders , Then there are very greedy ways to make profits & then those customers who are treated that way NEVER forget . Greed does NOT translate into good business practices . nor long term growth . Greed ultimately destroys :mad: Link to comment Share on other sites More sharing options...
bUU Posted July 26, 2017 #398 Share Posted July 26, 2017 Then there are very greedy ways to make profitsThis doesn't qualify for that. Link to comment Share on other sites More sharing options...
The Fun Researcher Posted July 26, 2017 #399 Share Posted July 26, 2017 I'm ok with it as long as the new refundable prices aren't higher than the way pricing has always been in years past (by default, refundable). That is my concern, that these non-refundable rates are now basically where historical rates have always been for refundables, and now they are RAISING rates if you want it to be refundable. I won't book a non-refundable rate. Dan Link to comment Share on other sites More sharing options...
Biker19 Posted July 26, 2017 #400 Share Posted July 26, 2017 That is my concern, that these non-refundable rates are now basically where historical rates have always been for refundables, and now they are RAISING rates if you want it to be refundable. This has already been established. ^ Link to comment Share on other sites More sharing options...
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