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Any reason NOT to pay in full before you have to?

Ninotchka

By Ninotchka,
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Ninotchka

Ninotchka

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First time cruiser, first time poster!

 

My wife and I are going on a cruise for our 20th anniversary and we couldn't be more excited. We're going on Celebrity Equinox in June 2017.

 

We have already set aside the money, and I'd be happy to know that it's paid for. I feel pretty sure there aren't going to be any more price drops -- it looks like it's at a low (according to a price tracking site). Is there any disadvantage to paying in full before the due date?

 

Thanks! I'm sure I'll be back with many more questions. Very happy to have found this forum.

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zoncom

zoncom

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I know I was told years ago at Celebrity when I wished to change a paid in full res that a final payment means FINAL. No changes. So I always pay close to final date. Health emergency, death in family, divorce? anything can happen including an excellent sale. Check with cruise line and agency you used for an honest answer. I think it varies.

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SantaFeFan

SantaFeFan

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Posted (edited)
I know I was told years ago at Celebrity when I wished to change a paid in full res that a final payment means FINAL. No changes. So I always pay close to final date. Health emergency, death in family, divorce? anything can happen including an excellent sale. Check with cruise line and agency you used for an honest answer. I think it varies.

 

I agree. Just like my taxes, bills and credit cards, I don't pay until I have to. If something changes before final payment, it will be easier to deal with any refunds or adjustments if it hasn't been paid in full yet. Besides, it is probably best for people to have some extra "emergency" cash available than for the cruise line to have it.

Edited by SantaFeFan
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Ninotchka

Ninotchka

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I hear ya! But money is only 100% fungible if you ignore the human element. I'll get considerable satisfaction out of knowing that our cruise is paid for. Just trying to suss what the risk actually is... I'll see what my TA says.

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donaldsc

donaldsc

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No reason at all to pay any sooner than necessary. Why should you give the cruise company free use of your money w/o paying you interest. Yes - I know that the amount of interest that any single individual is very small. However, if you add all the money that the early payers give to the cruise companies, that is a lot of free money that they get to play with.

 

Remeber the scam a few years back where some individual at a bank modifed a program so that a few cents from every account was transferred to the scammer's account. Nobody noticed but a few cents from each depositor added up to a lot of bucks for the scammer. I regard early payment in the same way.

 

DON

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Sequim88

Sequim88

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You never know what might happen between now and final payment. We had a cruise booked for a transatlantic from Miami to Copenhagen but then the job situation started to look rocky so we delayed making more than the booking deposit. Three weeks before final payment date we cancelled because I was unemployed and looking for another gig for five months and needed the cruise savings account as a lifeboat. Very glad to have had it in OUR bank and not waiting for a refund.

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jennybenny

jennybenny

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I like the idea of prepaying just to get that out of the way.

I get the interest thing, but it's not enough to weigh out the relief of being paid upfront.

I usually prepay gratuities and drink packages as well.

I like having my vacation paid for before I go on it.

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Warm Breezes

Warm Breezes

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There really is no financial reason not to pay it off. Having said that I get more emotional satisfaction holding on to my money as long as possible, especially if there is no interest being paid, than paying for something before I have to. I'd rather keep the funds under my control for as long as possible, but that may just be the accountant in me:D.

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Earthworm Jim

Earthworm Jim

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No reason at all to pay any sooner than necessary.

 

For someone that the money isn't an issue, true. But some people might be tight on money, and know they lack the financial self discipline to guarantee the money they have available to pay the bill today will still be in their account in several weeks/months when final payment is due. In that case, it might be wise to pay it now while you have the money.

 

Another case would be for someone who is just disorganized or forgetful. They are thinking of it right now, but are worried they won't remember to make the payment in a month when it's actually due. So they pay it now so they don't forget.

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Grandma Dazzles

Grandma Dazzles

Posted
Posted
First time cruiser, first time poster!

 

My wife and I are going on a cruise for our 20th anniversary and we couldn't be more excited. We're going on Celebrity Equinox in June 2017.

 

We have already set aside the money, and I'd be happy to know that it's paid for. I feel pretty sure there aren't going to be any more price drops -- it looks like it's at a low (according to a price tracking site). Is there any disadvantage to paying in full before the due date?

 

Thanks! I'm sure I'll be back with many more questions. Very happy to have found this forum.

 

Welcome to cruise critic.

 

A couple of considerations - if you booked with a TA make sure that they will keep checking for price drops for you. If you booked directly with Celebrity you can call and request a price adjustment yourself and will get a refund to your credit card.

 

Does your final payment include everything - taxes, port fees, gratuities, insurance? Someone might be able to give you a more definitive answer, but I believe once paid in full your insurance (might depend upon specific insurance) kicks in completely. Otherwise, no specific advantages that I can think of.

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iancal

iancal

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We NEVER pay anything before we have to. Who knows, we may cancel. Easier to keep our money and pay on time than work for refund.

 

Never could understand why anyone would pay early unless of course there is a discount for doing so. Now, if Celebrity gave us a discount for paying early, even 2 points, we would consider it.

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nolatravelgirl

nolatravelgirl

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If you don't think you will have the self discipline to keep the money tucked away in a savings account then by all means go ahead and pay it off. Yes, it will be a bit of a hassle to get it back if you should need to cancel, but the little bit of interest you may earn is not really reason enough to not pay it off.

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Nic6318

Nic6318

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Posted
First time cruiser, first time poster!

 

My wife and I are going on a cruise for our 20th anniversary and we couldn't be more excited. We're going on Celebrity Equinox in June 2017.

 

We have already set aside the money, and I'd be happy to know that it's paid for. I feel pretty sure there aren't going to be any more price drops -- it looks like it's at a low (according to a price tracking site). Is there any disadvantage to paying in full before the due date?

 

Thanks! I'm sure I'll be back with many more questions. Very happy to have found this forum.

 

Hi

 

 

Welcome to cruise critic.

 

It's your money until you give it to someone else. There are few reasons that should compel you to pay a debt before it is due, but it is your money, and that means you can do with it as you please.

 

So have a great cruise

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sparks1093 Great Review Rare

sparks1093

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Posted
Many of today's cruisers are living paycheck to paycheck.

They cannot afford to pay for the cruise until absolutely necessary.

 

That describes a great number of people whether they cruise or not but it doesn't sound like the OP fits into that category.

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