is there a negative side to paying the balance early?

[cruisercrazy69]

Thanks for all the info. Part of me would feel better knowing the cruise is paid for and done with. Part of me is nervous spending all that money right now. Another part of me is worried that if I don't pay off the cruise I will spend the money and wont have it and have to use credit cards. LOL I keep asking my DH...are you sure you still want to go? LOL. It's so far away, you never know what will happen.

 

Thanks again,

 

Loralie

Put it in a cd maturing when the final payment is due

[pcur]

NO WAY! final payment is considered final settlement. Can be subject to no refunds. Anthing can happen to your personal situation in the future. I also heard of a lady who posts here prepaying for a discount and agency took off with the funds. Also, most likely pricing will come down and since you made final payment you most likely will not be eligable for rereductions. If it makes you feel better start a savings/ money market fund with the cruise balance amount. Then it will be safe.

 

This is incorrect. I pay many of my cruises in full before the final payment date for a variety of reasons. With savings interest rate at 1 - 1.5% the benefits I get for paying early far outweigh the lost few dollars of interest.

 

For instance, I paid off 3 cruises early to get the pre-July 2011 increase for tips. I want to pay that increased amount the people I decide upon, not what RCCL decides.

 

I get the Southwest Visa credit card points, and therefore free airfare, early. This way I can book my flights to/from US ports early, too, and for free.

 

I can juggle my budget around the is expense being paid when I want to pay it, not when the cruise line wants it.

 

I have paid in full, then cancelled, switched to another cruise, changed cabins and received an onboard credit for the difference. You have lots of flexibility up until the REAL final payment date.

[milton333]

Do I have this correct - on RCCL, if you pay in full before the "final payment deadline" (somewhere around 60 days before the sail date), RCCL will give you OBC for the amount of a price drop in the same category room on your sailing (if the price drops before official "final payment deadline")? I'm okay with OBC, I was just under the impression that my final payment meant that I could not claim a price drop. It may be academic, the cost of my cruise has recently gone up $100 for my party for my sailing, but I'm curious. I'm more familiar with Carnival's rules.

[BethCarp]

Think of this scenario: you pay it off and in a few months you have an unexpected expense (broken appliance, car etc, a very good deal on another vacation). If you didn't pay off the cruise, you'd have that money available to you. Yes, you could cancel the cruise and get the money back if you really needed it. But then you'd have to rebook at possibly a higher rate and maybe lose your stateroom in order to keep the cruise. (I'm assumming you can't call up RCI and get a refund on part of your cruise.)

 

If you're really afraid you'll forget about your cruise and spend the money elsewhere, put it in a separate account.

[pcur]

Do I have this correct - on RCCL, if you pay in full before the "final payment deadline" (somewhere around 60 days before the sail date), RCCL will give you OBC for the amount of a price drop in the same category room on your sailing (if the price drops before official "final payment deadline")? I'm okay with OBC, I was just under the impression that my final payment meant that I could not claim a price drop. It may be academic, the cost of my cruise has recently gone up $100 for my party for my sailing, but I'm curious. I'm more familiar with Carnival's rules.

 

You are correct. It's a common misconception on this board that once you pay you are locked. It's the DATE final payment is due that determines the ineligibility for further obc. Before that due date you are eligible, whether you have paid in full or not.

 

I've done this on at least two cruises since last May when they started the new policy, since I usually pay mine in advance.

 

If you don't use the obc on board the ship, then you get it either in cash the last day of the cruise or as a credit on your card.

[kimberley]

Pay it off. I pay mine off every month it just makes it easier and it's great to watch that balance get less and less.

[DanJ]

Think of this scenario: you pay it off and in a few months you have an unexpected expense (broken appliance, car etc, a very good deal on another vacation). If you didn't pay off the cruise, you'd have that money available to you. Yes, you could cancel the cruise and get the money back if you really needed it. But then you'd have to rebook at possibly a higher rate and maybe lose your stateroom in order to keep the cruise. (I'm assumming you can't call up RCI and get a refund on part of your cruise.)

 

If you're really afraid you'll forget about your cruise and spend the money elsewhere, put it in a separate account.

 

And if you don't pay off the cruise in advance, and have that same unexpected expense that you use your cruise money to pay for, then you have to come up with the money to pay for the cruise. Or have to cancel the cruise because you now can't afford it. Either scenario probably results in a person using credit to pay for one or the other. No biggie.

[3dogmom]

You are correct. It's a common misconception on this board that once you pay you are locked. It's the DATE final payment is due that determines the ineligibility for further obc. Before that due date you are eligible, whether you have paid in full or not.

 

I've done this on at least two cruises since last May when they started the new policy, since I usually pay mine in advance.

 

If you don't use the obc on board the ship, then you get it either in cash the last day of the cruise or as a credit on your card.

 

I thought cruises booked after the May 17, 2010 policy change were ineligible for OBC due to price drops? I thought you only had 48 hours from when you initially booked to get the OBC.:confused:

[BethCarp]

And if you don't pay off the cruise in advance, and have that same unexpected expense that you use your cruise money to pay for, then you have to come up with the money to pay for the cruise. Or have to cancel the cruise because you now can't afford it. Either scenario probably results in a person using credit to pay for one or the other. No biggie.

 

The cruise in question is over a year away. She may have an expense in 3 months but still have time to save up for the cruise balance. An "emergency" now doesn't mean she'll be strapped for cash in a year.

[DanJ]

I thought cruises booked after the May 17, 2010 policy change were ineligible for OBC due to price drops? I thought you only had 48 hours from when you initially booked to get the OBC.:confused:

 

I wonder if that policy is in regards to price drops after final payment deadline? I can't see what leverage they have to deny a credit on price drops before that date as you could simply cancel and rebook.

[pcur]

I thought cruises booked after the May 17, 2010 policy change were ineligible for OBC due to price drops? I thought you only had 48 hours from when you initially booked to get the OBC.:confused:

 

Within 48 hours from booking they will honor a lower price by reducing the amount due.

 

After 48 hours from booking and before final payment you get an obc OR a cabin upgrade if your price drops; your choice

 

After final payment DATE you only get an upgrade if your price drops.

[3dogmom]

Within 48 hours from booking they will honor a lower price by reducing the amount due.

 

After 48 hours from booking and before final payment you get an obc OR a cabin upgrade if your price drops; your choice

 

After final payment DATE you only get an upgrade if your price drops.

 

Thanks, Peggy....I'm writing this down!

[rim2rimhiker]

Within 48 hours from booking they will honor a lower price by reducing the amount due.

 

After 48 hours from booking and before final payment you get an obc OR a cabin upgrade if your price drops; your choice

 

After final payment DATE you only get an upgrade if your price drops.

 

I booked a June 2011 cruise on October 13, 2010. Saw the price drop on November 5, 2010, called RCI, and they reduced my reservation to the new lower price, reducing the final payment amount due rather than OBC or upgrade.