Advantage/disadvantage to paying the balance well in advance

[1965]

I should know this by now, but I don't. Our cruise balance is due June 17. It's now down to an amount that we could pay in a lump sum. Is there any advantage or any disadvantage to doing that? Thanks.

[senior lady]

I wouldn't pay early, as you never know what promotions are going to come up.

On my November cruise I saved $400 by waiting until final payment and then asking if there had been any price reductions, or promo's that I could qualify for before applying final payment

[JF - retired RRT]

No advantage to paying early.

You'll lose whatever pitiful interest you could make while waiting for final payment date.

If there's a price drop, you'll have to wait for a refund, rather than just paying the new balance.

Just wait.

[1965]

Thank you senior lady & jf retired. Excellent advice.

[JudithLynne]

The advantage to paying early happens if you have an expensive cruise and want to use a specific "perk rich" credit card such as the Chase Sapphire Preferred which gives you up to $10,000 back for cancellation due to certain conditions. If the cost of the cruise extends beyond your credit limit then making more than one payment over credit card cycles will allow you to put the total amount on the card.

 

Senior lady......I am not aware that paying in advance locks you into your current cruise price. It would seem to me that one could take advantage of a drop in price if it were before final payment.

[Amtrack Springfield]

I would never pay early. Wait till final payment. Could be price decline, better cabin offer, etc.

[KruzeKrazy!]

Why give someone else your money before you need to...

 

Plus if anything changes you have extra work and time to get it back.

[FritzG]

I've only done this a couple of times. Our TA called, and the company was offering a good deal of OBC if we paid a month early. The first time this happened we were a bit worried that we might hear that the company went bankrupt the next day, but we decided to go for it. The charge showed up on our Visa account the next day in Princess's name, not the TA, so we were happy. We got an OBC to pay early again for our Baltic/TA last fall, and we took it without hesitation. That's the only way we'd pay early. Our agent who we've used for years told us that we would still get any pre-final payment offers or sales that we qualified for.

[Thrak]

I've never heard of getting OBC for paying early.

[FritzG]

I've never heard of getting OBC for paying early.

 

It wasn't from Princess, it was from my travel agency.

[beg3yrs]

We paid early once when we were near both a spend threshold and a yearly deadline on our credit card which gave us top status for a specific hotel chain. That's about the only financial reason I can think of.

 

Another reason which works well for those who want to control impulsive spending is to pay that cruise early and then the money isn't sitting there burning the proverbial "hole in your pocket". More of a psychological reason but in many cases it's a good one.

[jagsfan]

Princess pays commission as soon as final payment is made. The TA may have a cash flow problem and wanted the money in the bank. Even though you've paid, cancellation penalties etc., don't apply till actual final payment due date.

 

 

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[jennybenny]

We always wait till our final payment date.

We prepay things like gratuity and drinks so that out on board spending does not seem as hefty.

 

 

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[EllieinNJ]

The current Amex offer expires in April. I had planned on paying for my October sailing then so I could save about $400. (2 cards, 2 names on each card x $100). Hopefully, if a better sale or promo comes up before the actual final payment date,I could still get it.

[mafig]

Since we rarely book guarantees, I don't know if this is true or not ....

 

but I have heard that if you have a guarantee and pay off early you will get a faster and better upgrade.

[cruising deacon]

If you are concerned about possibly forgetting to pay when it is due, Princess does have a AUTO PAY option where your credit card is charged for the final balance amount the day that it is due.

I have used it in the past when final payment for a cruise came due while we were on another cruise. You know how it is, when you are on a cruise you can easily loose track of what day it is.......and I didn't want to forget to make the final payment.

[Yosef42]

If you are concerned about possibly forgetting to pay when it is due, Princess does have a AUTO PAY option where your credit card is charged for the final balance amount the day that it is due.

I have used it in the past when final payment for a cruise came due while we were on another cruise. You know how it is, when you are on a cruise you can easily loose track of what day it is.......and I didn't want to forget to make the final payment.

 

 

Where is this auto-pay option? I looked on my cruise personalizer and didn't see it; is it hiding someplace else?

[qqwer123]

We always pay early. We paid when we booked. It offered no advantage except the fact that we didn't have to worry about it anymore.

[satxdiver]

I pay all bills when they are due. The money looks better in my account than in theirs. I looked for the auto-pay option but was not able to find it. Other cruise lines have it as does most credit cards which is really nice. I have to put a reminder in my outlook calendar with a warning starting a few days before to pay it. When I get to a little over a month out, I put an entry into my quicken file so that I know the money will be going out of my account on that date.

 

I would love to have AUTO-PAY .......hear that PRINCESS! You are behind the times!

[shepp]

Senior lady......I am not aware that paying in advance locks you into your current cruise price. It would seem to me that one could take advantage of a drop in price if it were before final payment.

 

Whenever you pay off the full balance, even if it's long before the official final payment deadline, it's regarded as "final payment" and the fare is, at least in theory, locked in. And it's the last date at which you can purchase Princess insurance. However, leaving a small balance due is a way around that.

[easyboy]

I don't see any advantage of paying the remaining balance before the final payment due date. Still waiting for price drops.

[GlamorousGirl]

I am paying for the entire cruise (including excursions, spa visits, tips) the second I get my tax refund. In my case it will be a great advantage to pay everything off early because I won't have to stress about the cost or shelling out the money anymore and can just look forward to the trip. I'm even going so far as to buy a Hilton gift card that will cover all our hotel nights on the road trip to port and back. I don't want to have to shell out a dime on the trip except for gas for the car and one meal per hotel night stay. At the end of the cruise, instead of a huge bill, I either want a 0 balance or a credit. Unexpected expenses and affording everything are one of the biggest travel stressors for me, so being able to pay everything in advance and not worry about it anymore is a huge relief!

[cruising deacon]

Where is this auto-pay option? I looked on my cruise personalizer and didn't see it; is it hiding someplace else?

 

I called Princess and had them add it to my booking right before I left on said cruise, there was not an online option that I knew of. I will tell you that they send me a new 'Booking Confirmation' email when I did this which stated in the NOTICES section ' Per your request, the credit card registered will automatically be charged when final payment is due ;. When they posted the final payment I received a 'Autocharge Final Payment' email which stated in the PAYMENT DETAILS section ' PER YOUR REQUEST, THE CREDIT CARD REGISTERED HAS BEEN AUTOMATICALLY CHARGED FOR THE AMOUNT OF $xxxx.xx '

[nierman]

We paid down payment last summer with final payment due on a month. Now they have their anniversary special with OBCs. I have a call in to TA to see if we qualify. I think this special may go by date booked so we'll be SOL.

 

 

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[cruising deacon]

Where is this auto-pay option? I looked on my cruise personalizer and didn't see it; is it hiding someplace else?

If I mislead you I am sorry, I did use (nor find) an option for this on the personalizer. I CALLED Princess and had them place it on said cruise, they took the credit card info over the phone.

They sent me a new "Booking Confirmation' email which stated in the NOTICES section " Per your request, the credit card registered will automatically be charged when final payment is due. ". Once the final payment was posted I received another email 'Autocharge Final Payment' which stated in the PAYMENT DETAILS Section " PER YOUR REQUEST, THE CREDIT CARD REGISTERED HAS BEEN AUTOMATICALLY CHARGED FOR THE AMOUNT OF $xxxx.xx ".