Any disadvantage to payment in full before full payment due date?

I recognize that I would lose interest on my money, but if I found it advantageous to paying in full long before full payment is due, are there any disadvantages?

If there is a price reduction on your cruise you could get the difference deducted usually before your full payment is paid but not after.

I recognize that I would lose interest on my money, but if I found it advantageous to paying in full long before full payment is due, are there any disadvantages?

Yes. If there are any decreases in the price of the cruise, you would not be able to take advantage of them. Note that sometimes the decreases will refer to "new bookings only", but there often will be decreases as the cruise gets closer that affect even those who booked early...so I always wait until right near the tme of the time that full payment is due.

If there is a price reduction on your cruise you could get the difference deducted usually before your full payment is paid but not after.

Are you saying because I paid in full they wouldn't refund the difference? Hmmmm, would they consider using it to give me OBC, do you think?

Yes. If there are any decreases in the price of the cruise, you would not be able to take advantage of them. Note that sometimes the decreases will refer to "new bookings only", but there often will be decreases as the cruise gets closer that affect even those who booked early...so I always wait until right near the tme of the time that full payment is due.

Well, I guess since you're the second poster to say this, it must be true and I'll just wait.:o

Thank you both!

I personally don't screw with watching for price reduction - most of the time it's for new booking specials. I pay for it, get it over with and start passing the time for sun, beach, water and beer.

Are you saying because I paid in full they wouldn't refund the difference? Hmmmm, would they consider using it to give me OBC, do you think?

No, the above posts are incorrect... the important date is your final payment date as advised by NCL, not the date you actually pay. These are two entirely different concepts. You can pay on the day you book if you like and you can still cancel and get a full refund, get any price reductions etc up until the date NCL has told you is final payment is actually due.

I hope that helps !!

Sometimes the terms of your cruise insurance depend on whether you buy it before or after you make your final payment. You should check the details of a particular policy you are considering.

Sometimes the terms of your cruise insurance depend on whether you buy it before or after you make your final payment. You should check the details of a particular policy you are considering.

This isn't a question about insurance at all. I'm not sure insurance would even pertain to my question.

No, the above posts are incorrect... the important date is your final payment date as advised by NCL, not the date you actually pay. These are two entirely different concepts. You can pay on the day you book if you like and you can still cancel and get a full refund, get any price reductions etc up until the date NCL has told you is final payment is actually due.

 

I hope that helps !!

Thank you. I didn't think that paying ahead would have those repercussions, but since two people said it would, I became a believer.

So can you think of any disadvantages to payment in full before final payment? And assuming I did do this and was able to obtain a lower fare, would they reimburse me the difference?

I can't think of a single reason to make final payment more than a few days before its due. Why not just hold that money in a high yield savings account until the due date? By paying early, you give up a lot of flexibility and the interest you could earn on the money.

Gtalum, you do not give enough credit for differences in situation. Obviously, OP has his reasons. (Although I suppose your post is correct, since all you said is that you can not think of reasons)

Mum and son are correct. You can get a full refund, no matter how much you have paid, anytime before final payment is due. That is why you have leverage to get reductions in fare. The new booking discounts will still present a problem, but that is the same whether you have paid the full amount or a minimal deposit.

Bill

Getting interest is nice, but probably not a big deal.

Having CONTROL of your money is way more important to me. If I cancel, I do not have to beg for my money back. If something happens to me, my family will not have to fill out a few hundred forms to get it back. If the cruiseline goes under (I really doubt that would happen), but in any event, it might take some work to get it back, if ever.

Just no advantage other than to make sure it is paid.

Thank you. I didn't think that paying ahead would have those repercussions, but since two people said it would, I became a believer.

So can you think of any disadvantages to payment in full before final payment? And assuming I did do this and was able to obtain a lower fare, would they reimburse me the difference?

The only reason I did it is because I am in Australia and our dollar was strong, and I didn't want to take the risk of it dropping again. Mind you, since I paid the Aus $$ has gained even more ground on the USD but that wasn't a risk I was willing to take and I was happy with the rate I got because it was better than I budgeted for when I booked.

I am pretty open-minded about this sort of thing and I understand that different people have different savings habits. Some people aren't capable of putting money into a savings account and pretending it's not there, then paying off the cruise minutes before its due. I have always been better at paying things off than saving up for things, and while some might say that I should have more discipline or whatever...I don't really care. It doesn't make me a bad person, I get the bill paid in a reasonable time, I feel good about it and that's all that matters. Some people seem to get so worked up about paying for a cruise early, or pre-paying service charges but honestly I don't really get why anyone else cares how or when someone else chooses to pay... unless they're paying for my cruise too of course :D.

And sorry, I'm not sure whether they reimburse you or provide OBC if the price drops because that hasn't happened to me yet. It might depend on who you booked through and what their normal procedure is.

I can't think of a single reason to make final payment more than a few days before its due. Why not just hold that money in a high yield savings account until the due date? By paying early, you give up a lot of flexibility and the interest you could earn on the money.

High yeild interest now a days is minimal at best. Let's say we're talking about $2,000 at 3% for a year...that's $60 and I do agree, $60 is a decent sum of money, but what are the chances of getting that amount on $2K? Probably not much.

Here's the reason I am thinking of paying early--I am doing my best to rack up as many miles as possible before next July, when I hope to get 2 free flights to Hawaii. 2000 more miles may be just the amount to make the difference.

Here's the reason I am thinking of paying early--I am doing my best to rack up as many miles as possible before next July, when I hope to get 2 free flights to Hawaii. 2000 more miles may be just the amount to make the difference.

That's a good reason, but you'd better check now and make sure there are seats available. Frequent-flyer award seats generally become available 331 days in advance. Hawaii award seats are usually all booked up on the first day of availability.

That's a good reason, but you'd better check now and make sure there are seats available. Frequent-flyer award seats generally become available 331 days in advance. Hawaii award seats are usually all booked up on the first day of availability.

Am well aware!:D Don't need to fly until July 2011.

I want to be prepared to "purchase" the first day of availability, as you mentioned.

Am well aware!:D Don't need to fly until July 2011.

I want to be prepared to "purchase" the first day of availability, as you mentioned.

D'oh! My bad. I saw July, and assumed 2010. You're good to go then. :D

I can't think of a single reason to make final payment more than a few days before its due. Why not just hold that money in a high yield savings account until the due date? By paying early, you give up a lot of flexibility and the interest you could earn on the money.

I usually like to make our final payment a week before it is due as a safety net in case phones are out of order, computers are down, etc. However, when we used a travel agent they required us to make our final payment almost a month before the cruise lines due date, so I am still paying it a lot later than I did when we used a travel agent.

If there is a price reduction on your cruise you could get the difference deducted usually before your full payment is paid but not after.

this isn't quite true: as long as the price reduction occurs prior to the final due date it will be given. this happens quite often. it has nothing to do with when one makes the final payment.

Nita

Are you saying because I paid in full they wouldn't refund the difference? Hmmmm, would they consider using it to give me OBC, do you think?

You can get the reduction as long as 1-it isn't for new bookings only and 2-final payment option date has not passed. it has nothing to do with when you make your payment.

Nita

D'oh! My bad. I saw July, and assumed 2010. You're good to go then. :D

No problem. I probably would have assumed the same thing...let's face it, July 2011, is a loooong way off.

And thank you to everyone for all the great information!

This isn't a question about insurance at all. I'm not sure insurance would even pertain to my question.

On some insurance policies, you only get a waiver of the pre-existing condition exclusion if you purchase the insurance before you make the final payment. Similarly with respect to cancellation insurance on some policies. So making the final payment earlier does affect your insurance options.

I realize you weren't asking about insurance, but since you asked if there are any disadvantages to paying in full before the final payment was due, I thought you might be interested in the disadvantage of having fewer insurance options. Sometimes what you didn't know about or consider is the most helpful information. And if this doesn't pertain to you because you don't need or buy insurance or because you don't have any pre-existing conditions or for some other reason, perhaps it will help someone else.

On some insurance policies, you only get a waiver of the pre-existing condition exclusion if you purchase the insurance before you make the final payment. Similarly with respect to cancellation insurance on some policies. So making the final payment earlier does affect your insurance options.

 

I realize you weren't asking about insurance, but since you asked if there are any disadvantages to paying in full before the final payment was due, I thought you might be interested in the disadvantage of having fewer insurance options. Sometimes what you didn't know about or consider is the most helpful information. And if this doesn't pertain to you because you don't need or buy insurance or because you don't have any pre-existing conditions or for some other reason, perhaps it will help someone else.

Thank you very much for this clarification. That is actually very interesting and helpful information. I'm sorry if I was previously rude.:)

Now that we've covered the original topic, let me add something one of my friends found out last year. Although we know that 331 is the magic number for days ahead of flight that frequent flyer tickets become available, they are not ALL made available that very day. Sure, I'd still try to get space then. But I got my space to Hawaii on the lowest # of miles 6 months out, or 180 days (one flight showed availability). As soon as we grabbed those two seats there were no more. Now it is 6 weeks before flight time and they are showing again, but at higher # of miles than I paid.

What my friend discovered when she called say 300 days out and there were no frequent flyer seats available, is that they do not put all the seats out on the first day. I'm guessing here, but I imagine it's just like the cruiselines noting the direction of booking for various sailings, and if falling short of expectations, they make a sale price. Same with airlines, who open new frequent flyer seats on those flights that are not selling as well.

I could be totally wrong and they have an actual schedule of when they will release the next two seats etc. but they won't tell you when that will be, so you must keep checking if you didn't get what you wanted on day 331.

I'd be interested to hear from someone who works in reservations for an airline. Thanks