What are the pitfalls of paying in full before the due date

[Aussie Jeep]

Hello, can anyone tell me what, if any, the pitfalls are by paying in full before the due date. Thanks

[peteukmcr]

None as far as I'm aware. Peace of mind to me when I do exactly that. No outstanding balance to pay, no amount on credit to be paid later. However, no doubt the financial experts on cc will offer their advice shortly :D

[Cruizy]

I've just finished paying for our April 2015 cruise, interesting question, hope I've done the right thing!! This trip has been in the planning for 12 months and I set aside so much money each month so everything will be covered before sailing date.

[milkman32]

There is no real reason not to pay it off early, I too just paid mine off early as well, april can't come fast enough.

Drink packages are paid as well. Just found a great decrease in the price for our cruise, now Royal owes ME.

 

I feel so much better knowing it's fully paid now, nothing to worry about after the cruise except to start paying off our next cruise for April 2016.

 

Love cruising

 

 

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[molly361]

None

[kobecat]

If we book and pay in Australia, I find no advantage either way.

 

If we book in the US, it depends on what the AU$ is doing against the US$. We have a Brilliance of the Seas cruise booked for next September and paid it in full when we booked. Since then the AU$ has gone down quite a bit so we are happy. If the price is lowered prior to final payment date I am sure we will get the money back. Now that definitely doesn't happen when booked in Australia.

 

Beryl

[emski83]

I had to have my January cruise paid in full by November. It was paid in full well before that date and got nothing for doing so except peace of mind that it's paid and now have been booking excursions and putting spending money aside :)

 

 

Emily

[LMaxwell]

It has been reported by some that if you pay off a cruise early Royal then considers that date "final payment", not when they originally said final payment was due, and sometimes will NOT honor price drops before their original final payment date, or may only issue an OBC instead of an actual refund of YOUR money.

 

There are many reasons it makes no sense to pay before the actual due date (or a few days before if you just want to be safe) but it seems like many on CC just prefer the feeling of paying something off early. I don't understand it as there is no financial benefit to doing so, but emotionally I guess there must be. If that is your preference to pay off early go ahead.

[Lionesss]

We have our cruise pay date marked on our calender in red ink..........for our upcoming August cruise.

 

We will pay the week before.....

 

Right now we were able to book that cruise when the prices were very low so doubt we will get any more savings (Got one in Novemeber).

 

But will continue to look.

 

Sea Ya

[Ourusualbeach]

None

 

Agree.

 

At least for North American residents. Not sure how this would apply to other countries as there are significant differences in the booking terms and conditions.

 

The only disadvantage would be the loss of the interest on the money which theses days might amount to a buck or two.

[LMaxwell]

Agree.

 

At least for North American residents. Not sure how this would apply to other countries as there are significant differences in the booking terms and conditions.

 

The only disadvantage would be the loss of the interest on the money which theses days might amount to a buck or two.

 

Or having usage and access to that money if needed. Or if you have to cancel not waiting a month for Royal to refund you.

 

The better question is, what is the BENEFIT to paying off early? No benefit I can see.

[Ourusualbeach]

Or having usage and access to that money if needed. Or if you have to cancel not waiting a month for Royal to refund you.

 

The better question is, what is the BENEFIT to paying off early? No benefit I can see.

 

Agree and disagree with your statement. Really it is up to the individual. As others posted many have peace of mind having it paid off early. Also it allows then for easier budgeting of money to pay shore excursions, drink packages etc.

 

I personally have waited until the last minute to pay for all but one cruise. The one being this upcoming Freedom cruise that we got the great deal on. Wanted it paid in full with guest booking invoice in hand as soon as possible.

 

IMO there are really no tangible benefits and there is also no tangible downside to paying off the cruise early.

[molly361]

Or having usage and access to that money if needed. Or if you have to cancel not waiting a month for Royal to refund you.

 

 

If I needed to rely on the money I spend for my cruise for an emergency I probably would not cruise.;)

Edited December 14, 2014 by molly361

[Desert Cruizers]

Depending on what you mean by early, I have paid our cruises in full, 2 months before final, then I know it is done and can sit back and relax for two months. Our upcoming Oct 19, 2015 cruise will be paid in full end of May or 1st of June, final is July 29th. Our TA's invoice always shows final date a week earlier then the cruise lines to make sure everyone calls in final and they send out the final invoices to everyone.

Edited December 14, 2014 by Desert Cruizers

[CruisingMachine]

It has been reported by some that if you pay off a cruise early Royal then considers that date "final payment", not when they originally said final payment was due, and sometimes will NOT honor price drops before their original final payment date, or may only issue an OBC instead of an actual refund of YOUR money.

 

The final payment date is the final payment date, NOT when you pay it. So, for example, if you pay off your cruise early and then need to cancel before the final payment date, you will get a full refund. Conversely, if you blow off the final payment date and call in AFTER that date looking for a refund of your deposit, you would lose the deposit.

 

This is if you book directly with RCCL. TAs may have different policies, including cancellation fees even before final payment. If you ever call RCCL directly and someone tries to tell you differently in regards to paying in full before final payment date, simply ask to speak with a supervisor.

[LMaxwell]

The final payment date is the final payment date, NOT when you pay it. So, for example, if you pay off your cruise early and then need to cancel before the final payment date, you will get a full refund. Conversely, if you blow off the final payment date and call in AFTER that date looking for a refund of your deposit, you would lose the deposit.

 

This is if you book directly with RCCL. TAs may have different policies, including cancellation fees even before final payment. If you ever call RCCL directly and someone tries to tell you differently in regards to paying in full before final payment date, simply ask to speak with a supervisor.

 

I thought I had explained very clearly in my first post that same thing.

 

For example. Final Payment date is May 1. You decided to pay in full Feb 1. There is a big price drop on March 1. You ask for the price drop. In a normal world you'd think Royal would refund the difference to your credit card (or whatever method of payment).

 

On these boards people have reported that Royal has done the following:

-Considered the Feb 1 date the new "final payment date" and not given any refund

-Given refunds only as OBC. That's hardly fair at all.

-If someone cancels before the May 1 final payment, but is paid in full, some have had to chase Royal 4 or 6 weeks, sometimes more, to get their money returned.

 

The OP asked what are the downsides to paying early. There you go. Inconsistency in how policies are applied and having to deal with a runaround should there be a price drop or cancellation before Royals originally published final payment date.

 

I've posed the question, what is the UPSIDE to paying early? None.

 

Now armed with facts OP can make decisions that best suit their personal budgeting. We all know calling Royal 4 times gets you 4 different answers, why pay early and take a risk?

[BecciBoo]

My system is:

 

Pay for one deposit to secure cruise or more recently apply Next Cruise booking # (even less for deposit)....later possibly a month, add DH and pay his deposit.

 

I.E. Don't have too much invested at this time. Then look for incentives with my online agent...transfer to them if a deal is found. They will charge the final payment at final due date so I don't have to even worry with it or keep track of it.

 

Years ago you had much more flexibility for reductions and combinations etc. but now they've changed all that, the only advantage I can see is the refund is much quicker,( it sometimes comes in chunks if you have to cancel after full payment) and you don't have much invested if you cancel.

[lalenalei]

I thought I had explained very clearly in my first post that same thing.

 

For example. Final Payment date is May 1. You decided to pay in full Feb 1. There is a big price drop on March 1. You ask for the price drop. In a normal world you'd think Royal would refund the difference to your credit card (or whatever method of payment).

 

On these boards people have reported that Royal has done the following:

-Considered the Feb 1 date the new "final payment date" and not given any refund

-Given refunds only as OBC. That's hardly fair at all.

-If someone cancels before the May 1 final payment, but is paid in full, some have had to chase Royal 4 or 6 weeks, sometimes more, to get their money returned.

 

The OP asked what are the downsides to paying early. There you go. Inconsistency in how policies are applied and having to deal with a runaround should there be a price drop or cancellation before Royals originally published final payment date.

 

I've posed the question, what is the UPSIDE to paying early? None.

 

Now armed with facts OP can make decisions that best suit their personal budgeting. We all know calling Royal 4 times gets you 4 different answers, why pay early and take a risk?

 

ITA with you. To me, there is no benefit (other than peace of mind) to be PIF. I wait to see if there are price drops. I've already called three times on our next one (8-day Japan on Mariner). Two price drops (for a total of $2155). Then, because it got so much cheaper, we moved into the RS. No problem whatsoever in getting the new prices. I would be skeptical if I had PIF, given other people's negative experiences.

[ahecht]

It has been reported by some that if you pay off a cruise early Royal then considers that date "final payment", not when they originally said final payment was due, and sometimes will NOT honor price drops before their original final payment date, or may only issue an OBC instead of an actual refund of YOUR money.

That issue is fixable. I had paid in full but then decided to transfer the booking to a travel agent. I got Royal Caribbean's resolutions department to process an overpayment of $20, which refunded $20 to my card and reset the final payment date.

[bigque]

That is so not true that they change your final payment date to the date you paid it in full! I always pay mine in full before final payment date and have received my adjustments for price drops with no problems when price drops occurs before the final payment date. Sometimes you get so much bogus information on here it's ridiculous!

[Ourusualbeach]

That is so not true that they change your final payment date to the date you paid it in full! I always pay mine in full before final payment date and have received my adjustments for price drops with no problems when price drops occurs before the final payment date. Sometimes you get so much bogus information on here it's ridiculous!

 

Agreed. They can't change the cancellation penalties so all you woud have to do is cancel at no charge and rebook.

Edited December 14, 2014 by Ourusualbeach

[lalenalei]

Agreed. They can't change the cancellation penalties so all you woud have to do is cancel at no charge and rebook.

 

Hmm, that makes sense! But is there really a "benefit" to PIF early? Not really, right? Is it more like you say tomato, I say tomawto?

[marci22]

You have 60 days from booking to transfer to a TA. If you decided to do that, you can't be paid in full.

 

Also, OP is in Australia. I don't know if any rules are different for them.

Edited December 14, 2014 by marci22

[MWINT]

Would there be any issues with travel insurance? I have always resisted paying early in case you can't travel and need to claim.

 

 

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[reney313]

I have never had an issue receiving a credit back to my credit card when I have paid in full prior to the full payment "date" and had a price drop before that "date".