Downside to paying off cruise early - yes or no?

[John&LaLa]

Most TA's do that, certainly the smaller ones do. The card is actually charged by Royal, the TA is just doing the work of contacting Royal with the information to get it charged as part of their service to the client. And yes, the ones I know that's the reason they do it. If the card gets declined for some reason, they have time to contact the customer to get it fixed before it's cancelled.

Ours processes the payment with Royal while I am on hold.

 

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[davekathy]

Ours processes the payment with Royal while I am on hold.

 

Sent from my HTC One_M8 using Forums mobile app

 

Same here.

[Hey Tina]

Great if you can get one, but here in the UK for example my bank has just changed the interest on my account to 0.1% :eek: not much reason to keep it in the account in my opinion.

 

like my youth, they are basically a thing of a previous life. The small amount one earns is not worth the worry. Can't even find a decent interest on a CD anymore. I normally pay off my cruises a week or so in advance of final so I don't forget. Just mark it on calendar as a reminder then call my CVP or C&A and pay.

 

Whether the .1% or interest rate is worth the worry is another conversation but to say it's not earning anything just isn't accurate.

[FLSteve11]

If you are only thinking of interest as in a CD or money market or other bank account, then I agree. However, there are many other investment options that can provide a significant return on your money.

 

True, though all those are generally riskier options if you're talking about just putting your money in for a few months. You could also lose a significant amount of your money in that amount of time.

[FLSteve11]

If you can leave the money in the investment as long as possible, historically, you'll come out ahead. Obviously there's going to be times when that's not the case, but over the long run, it's better to leave the money in.

 

Now if that money is the only money that one has available to pay for the cruise, then of course one shouldn't risk it.

 

The problem is generally you need a significant amount of time for that to work out historically, because they crash faster then they rise. Most bull runs go on for a long time to earn the money, whereas crashes happen in a much shorter time period. Basically you're just trying to time the market over a few months, which is risky.

[FLSteve11]

Ours processes the payment with Royal while I am on hold.

 

Sent from my HTC One_M8 using Forums mobile app

 

Yes, because they're having Royal charge the card at the time.

 

Do you wait for the last day though? What happens if it's someone with bad credit and one card? What if they can't reach you that day, and you've forgotten? It's safer for them to do this a week ahead, to make sure they'll get the cruise paid for, get their commission, and have a happy customer.

 

Now all TA's do this, but I can understand the ones who do.

[time4u2go]

The problem is generally you need a significant amount of time for that to work out historically, because they crash faster then they rise. Most bull runs go on for a long time to earn the money, whereas crashes happen in a much shorter time period. Basically you're just trying to time the market over a few months, which is risky.

Oh I know there's a risk, but it's one I'm willing to take. So far it's worked out quite well for me.

[Oak Hill Cruisers]

Oh I know there's a risk, but it's one I'm willing to take. So far it's worked out quite well for me.

 

And it's worked out quite well for RCI. 2016 Sales/Revenue was $8,500,000,000 -- that's billions with a 'B'.

[time4u2go]

And it's worked out quite well for RCI. 2016 Sales/Revenue was $8,500,000,000 -- that's billions with a 'B'.

Are we talking about the same thing? I was talking about whether or not to delay making final payment.

[Oak Hill Cruisers]

Are we talking about the same thing? I was talking about whether or not to delay making final payment.

 

Just putting out the RCI $8.5B figure to illustrate the final number no matter if we pay early or late.

[time4u2go]

Just putting out the RCI $8.5B figure to illustrate the final number no matter if we pay early or late.

Um...ok. :confused:

[vistapat]

If you pay the cruise off before Royal's final payment deadline, with your travel agent, do you still have the ability to cancel without penalty up until Royal's deadline?

 

Pat

[cruisinfanatic]

If you pay the cruise off before Royal's final payment deadline, with your travel agent, do you still have the ability to cancel without penalty up until Royal's deadline?

 

Pat

yes

[Ourusualbeach]

If you pay the cruise off before Royal's final payment deadline, with your travel agent, do you still have the ability to cancel without penalty up until Royal's deadline?

 

Pat

There would be no penalties from Royal. You would have to read your contract that you have with your TA to determine what penalties they may charge.