Final payment now or wait?

[LindaKE]

Dan's poll about line loyality got replies saying cruise lines are lowering prices because of the economy. This leads me to my question:

 

We can get 5% cashback bonus through March 31 if we go ahead and make the final payment with our Discover Card. We sail in October, so final payment isn't due until July. So far, prices have only gone up (now about $200 pp more than we paid) on our Canada / New England cruise (NCL). I know that once I've made final payment, I can't get the price lowered, so which would I be better off doing - lock in a price but get 5% cash back, or hope prices will fall below my price before final payment is due?

[MjCruiser38]

Won't you get the 5% cashback whenever you make final payment?

[Krazy Kruizers]

JMO -- we never make final payment until it is due.

Why should the cruise line make money on my money?

[LindaKE]

Won't you get the 5% cashback whenever you make final payment?

 

No, we get about 1% cashback on all payments. You have to sign up for the 5% cashback, and it is offered on various categories for 3 months at a time. According to their website, the one for travel and entertainment ends March 31 and won't be repeated this year. The cashback would be about $100 if we get the 5% before march 31.

[mistergq]

Hard to say. There are advantages to both. There is no guarantee the price will go down. But also to take advantage of that 5%, you should really pay off that balance immediately (otherwise you lose that bonus to interest). So that is another factor you need to weigh as well.

[tiyana4]

I agree with mistergq....there are advantages to both. However, as OP mentioned, if the price drops they will be unable to take advantage of price drops. Price drops and OBC are more valuable to me and I get the option of stretching my budget monthly versus one early lump sum payment.

 

We never pay early...and our final price has dropped each time with one exception (didn't know we could take advantage of this option on our first cruise). Granted we generally book a year in advance so we have time to watch the pricing fluctuate. We have a Discover card I never use it...they used to have really great double rewards but they have cut back so much we have found AMEX to be a better choice. For only $100, I wouldn't do it.

[Sparky2]

I know that once I've made final payment, I can't get the price lowered, so which would I be better off doing - lock in a price but get 5% cash back, or hope prices will fall below my price before final payment is due?

 

I'm NOT SURE about this, but I think someone mentioned that you still can get prices drops up until FINAL PAYMENT DATE - not after you've paid the final payment. Also, this was on a Carnival board and I see you're sailing NCL.

 

IE - If you paid all when you booked or just paid it off a month or two BEFORE final payment was due, you'd still be entitled to price drop (credit to CC or OBC).

 

Hope I explained this correctly.

[flamomo]

Is it: no fare reduction after YOU PAY in full , or after final payment date?

[RoofingPrincess]

I don't know about NCL, but on RCCL, you *can* get fare reductions after the final payment date. On our Jewel cruise (2/07), we got three price drops in the month before the cruise.

[pms4104]

No, we get about 1% cashback on all payments. You have to sign up for the 5% cashback, and it is offered on various categories for 3 months at a time. According to their website, the one for travel and entertainment ends March 31 and won't be repeated this year. The cashback would be about $100 if we get the 5% before march 31.

Sorry, but I beleive the max you can and will get with that 5% quarterly promo is a total of $40 ... it is double the amount you can earn other quarters. So, the 5% back applies only to $800 cruise/airliine/hotel (I think those are the categories this quarter) ... I also join the quarterly program, and those are the terms as spelled out on the Discover site. We recently paid an extra $800, in addition to our origiinal deposit, for our November trip to get that $40 back.

 

Tried to find the verbage about maximum rewards on the website ... didn't find it, so I checked my saved Discover email confirming my quarterly enrollment. Following is what that email stated: "Just use your card on airlines, hotels, car rentals, and cruises from January 1, 2009 until March 31, 2009, and get 5% Cashback Bonus on up to $800 in these purchases*. Remember, all your other purchases will earn up to 1% unlimited Cashback Bonus automatically."

[rjm1cc]

Maybe you can pay most but not all of the balance by March 31. Ask the cruise co if that will work.

[pms4104]

Maybe you can pay most but not all of the balance by March 31. Ask the cruise co if that will work.

Exactly. Since this is not yet final payment due date, I would pay now only as much as required to get the maximum Discover bonus/reward/whatever they call it ... and cough up the remainder when those monies are due. I would think most if not all lines will permit people to make installments on their cruise fare.

[Cuizer2]

Dan's poll about line loyality got replies saying cruise lines are lowering prices because of the economy. This leads me to my question:

 

We can get 5% cashback bonus through March 31 if we go ahead and make the final payment with our Discover Card. We sail in October, so final payment isn't due until July. So far, prices have only gone up (now about $200 pp more than we paid) on our Canada / New England cruise (NCL). I know that once I've made final payment, I can't get the price lowered, so which would I be better off doing - lock in a price but get 5% cash back, or hope prices will fall below my price before final payment is due?

 

No, we get about 1% cashback on all payments. You have to sign up for the 5% cashback, and it is offered on various categories for 3 months at a time. According to their website, the one for travel and entertainment ends March 31 and won't be repeated this year. The cashback would be about $100 if we get the 5% before march 31.

 

Then make the final payment now and collect the extra 4%.

[LindaKE]

Thanks everyone. I checked and we can make a partial payment, so that's what I'll do.

[okgirl]

If your cruise is that far out I would sign up for Early Saver program. I just did this for my December Dream cruise and right off the bat got the 100/pp rate reduction. Since that time I've gotten 2 30/pp rate reductions and I can continue to receive them until 2 days before the cruise, even after final payment.

 

The only downside was it made the 300/pp deposit that I had already paid non-refundable, but I was okay with that.