Why should or why shouldn't I?

[G&TQ]

I have a cruise booked for next spring and I am wondering if I should pay the cruise off now or wait.

 

I work in sales and after a few crappy months things have turned around. We decided to book our cruise and we would tighten our belts and pay for the cruise by limiting other expenses and having faith we could always cancel. Now the day I booked I did it first thing (6am) then before lunch I had a huge sale then before the day was out I had a small one. Now I seem to be hot. And should have enough to payoff the cruise with this one commission check. We did cash in some reward points and it is a cheap cruise. Anyway should I hold on to the money and pay off the cruise later or go ahead and pay it off? Are there any drawbacks to paying it off early?

[bionicman97]

I think once you make final payment, you aren't eligible for any price drops, but I might be wrong.

[EbayCruiser]

Sometimes we pay our cruises early. When I get extra money, I just go ahead and make a payment on the cruise. It feels good to know that I am paying it down. :)

 

Some people say put it in a savings account and pay when final payment is due but really it's not that much interest in a savings account. It just FEELS good to know that I am getting it paid. Kind of like lay-away!! LOL

 

You can still get price reductions, if the price goes down, up until the final payment date EVEN if you have paid in full. We did that on our upcoming Hawaii cruise. Our Hawaii cruise with HAL dropped four times in a year .... with a savings of $1,000. :D

[ryano]

I will be paying my cruise off at the end of this month. Final payment isnt due until December 7th. I just want to get it out of the way.

 

I made a thread about this same thing just a few months ago and was gonna pay it off then but had to buy tires, brakes and do some PM on my vehicle to the tune of about 1000.00.

 

Some people will suggest NEVER paying off a cruise early but its worth the peace of mind to me knowing its paid for instead of the very very few dollars I would collect from interest on a savings account.

 

I say go ahead and pay it off and get it out of the way :) There are no drawbacks other than you are giving RC all your money early. You still qualify for price drops up until your final payment date no matter when you pay off your cruise.

[temple1]

I never pay it off early, but I know the money is there to pay it.

 

This is one of those personal preference things - like inside vs outside, etc. Also, I frequently cruise with my sister and I won't be getting a check from her until she absolutely has to write it. :rolleyes:

 

But even when cruising with DH, I wait to about the week it is due to make the call to pay it off.

[cb at sea]

I see no reason to let the cruiseline have the use of your money until they need it...but at this time, savings aren't drawing much, if any, interest....if you feel better having it paid off...go for it!

[cruisecrasy]

Do u get price drops, if any, back in cash or an OBC if u pay your cruise early?

 

My main concern in paying it off early wld be what happens if u decide to cancel? Will RCL give u your $ back and if yes, doesn't that take up to 6 weeks on a credit card (did when I cancelled but wasn't prepaid)??

 

I personally like having a cruise saving acct and paying it as well as myself with interest - small amt though it is its better than nothing..& then pay RCL at the final payment date..Otherwise, u are paying them extra by giving them the interest on that $..and if done on many cruises the interest u lose & RCL has gained adds up, even at low rates..Of course, RCL wld prefer u do for just that reason..:)

 

Whatever u decide to do - hope u have a great cruise :)

[flcruzer03]

Personally I would not pay it off early...I am a money in the bank kind of person...maybe since you are having a good run at work, you could use some of the extra commission money & make payments..with the money you have now in the bank to pay it off if things slow down again before final payment...if they don't slow down & you have it paid off..then the money in the bank can be used for spending money on your cruise...

[ZoeyVictoria]

I love the anticipation of a vacation, and to me the only thing better than an upcoming vacation is an upcoming vacation that is paid for. I wouldn't take a chance on putting aside the money then later using it for a semi-emergency (car repairs, etc.) and being stressed about paying for the cruise. In other words, paying now is a way of keeping the money safe from yourself.

[Ontherocks47]

What would Suze Orman recommend?

[cruiseguy1016]

I never pay my cruises off until a few days before final payment is due. Why give the money to RCI and let them earn interest on it? I know it's not much, but I'll let the interest build in MY account.

[cruisinfanatic]

I think once you make final payment, you aren't eligible for any price drops, but I might be wrong.

it's the final due date, Has nothing to do with how little you owe

[TahoeBob]

What would Suze Orman recommend?

If I listened to Suze Orman I would never be able to do anything fun that required spending money.

[temple1]

If I listened to Suze Orman I would never be able to do anything fun that required spending money.

 

LOL - Exactly what I was thinking. If we listened to her we would never cruise. Thank goodness Clark Howard gets us.

[Ocean Boy]

What would Suze Orman recommend?

 

If I listened to Suze Orman I would never be able to do anything fun that required spending money.

 

LOL - Exactly what I was thinking. If we listened to her we would never cruise. Thank goodness Clark Howard gets us.

 

Yes, but I can just envision the look on her face when someone calls in and asks.... "I want to transfer a few thousand dollars from my bank account to a cruise line's bank account months earlier than necessary. Is this a good idea?"

 

:eek::eek::D

[temple1]

Yes, but I can just envision the look on her face when someone calls in and asks.... "I want to transfer a few thousand dollars from my bank account to a cruise line's bank account months earlier than necessary. Is this a good idea?"

 

:eek::eek::D

 

That would be "priceless"! :D

[nosmothj]

My main concern in paying it off early wld be what happens if u decide to cancel? Will RCL give u your $ back and if yes, doesn't that take up to 6 weeks on a credit card (did when I cancelled but wasn't prepaid)??

 

We have booked and cancelled several cruise. I pay with my visa and when cancelled they have the money back on my visa with in three days.

[Ontherocks47]

Yes, but I can just envision the look on her face when someone calls in and asks.... "I want to transfer a few thousand dollars from my bank account to a cruise line's bank account months earlier than necessary. Is this a good idea?"

 

:eek::eek::D

 

LOL I was joking with that comment. I'm sure her answer would be "DENIED!!" and no one would ever have any fun! I wonder if she herself ever takes a vacation! :)

[G&TQ]

Thanks for everyones advise!!

[Trevoli]

I see no reason to pay ANYBODY any sooner than absolutely necessary, and I prefer the flexibility of being 'fluid'.

 

It sounds as though your paychecks/commissions fluctuate a lot, so I would think you'd want more control over your cashflow, than would be possible if RCCL had your full fare several months ahead of time.

 

Maybe you could 'split the difference' and send 1/2 of your final payment amount now. That way, you'd feel better about paying the fare down, and still have command over the rest. If you don't trust yourself, give the $$ to a trusted friend/family member to hold for you until final payment is due.

[Jimnbigd]

The only reason I can think of to pay it off now might be if RCCL later imposes a fuel surcharge. Usually they won't impose it on guests fully paid. Now, they shouldn't impose it on guests with deposits but not fully paid, but they might.

 

However, when facing two choices, where one is revokable and the other is not, I choose the revokable one. You can always get your deposit back and cancel the cruise. I don't think you can cancel and get a full refund if you have paid in full (but I might be wrong -- never tried it).

[Ontherocks47]

The only reason I can think of to pay it off now might be if RCCL later imposes a fuel surcharge. Usually they won't impose it on guests fully paid. Now, they shouldn't impose it on guests with deposits but not fully paid, but they might.

 

However, when facing two choices, where one is revokable and the other is not, I choose the revokable one. You can always get your deposit back and cancel the cruise. I don't think you can cancel and get a full refund if you have paid in full (but I might be wrong -- never tried it).

 

Here's is RCCL's cancellation policy both old and new:

http://www.royalcaribbean.com/customersupport/faq/details.do?pagename=frequently_asked_questions&pnav=5&pnav=2&faqSubjectName=Depois+de+comprar&faqId=227&faqSubjectId=323&faqType=faq

 

You get a full refund including your deposit if you cancel 90, 75 or 60 days prior depending on what length or cruise you have booked or if its a holiday period. After that penalties apply.

 

I did have to cancel a cruise once with RCCL and did so in the allotted period of time for a full refund, they credited my credit card for the deposit I paid in full, nothing lost.

[Ontherocks47]

I forgot to mention the fact the rules are "full" refund within prescribed period for your cruise, this would include any extra monies paid or even if you paid the cruise in full prior to that cutoff date.

[cruisecrasy]

it's the final due date, Has nothing to do with how little you owe

 

So one cld get the price drops no matter how much u pay - just a deposit, payments or full amount - as long as its within the RCL time frame?

 

Thanks for the info..:)

[Ontherocks47]

So one cld get the price drops no matter how much u pay - just a deposit, payments or full amount - as long as its within the RCL time frame?

 

Thanks for the info..:)

 

Yes. If they won't give you the price drop with their policy you could cancel, get full refund for all monies paid then rebook and be a "new booking".