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New Monthly Pay Over Time?

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Just saw this today on NCL when choosing cabin category...never noticed it before.

Take a look at the interest rates...4.1% to 35.99% eeek!

No thank you!

 

 

Screen Shot 2019-04-25 at 1.01.59 PM.png

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I've seen something similar on 1 or 2 online TA sites (not sure if they charge interest) but not on NCL. No way would I go for this. Why would anyone do this? It's like giving a big corp. a gift. They use your money and then charge you interest?

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LOL, but you can make payments on your account any time you want. I won't do that either but some feel the need to put their money on their account rather than save it in the bank. 🙄

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6 minutes ago, All-ready2cruise said:

I've seen something similar on 1 or 2 online TA sites (not sure if they charge interest) but not on NCL. No way would I go for this. Why would anyone do this? It's like giving a big corp. a gift. They use your money and then charge you interest?

 

In the fine print there it looks like it's a private bank making the loan, not NCL.   Still, that would be a hard pass from me.

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I know Carnival introduced an easy pay program last year but I believe it's interest-free (not 100% sure what their program looks like)... have to assume NCL must have thought they could make money doing something similar.

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I guess it's working for Royal since it's now over at NCL several months after I first saw it at Royal. Same company. 

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7 minutes ago, JillK said:

I know Carnival introduced an easy pay program last year but I believe it's interest-free (not 100% sure what their program looks like)... have to assume NCL must have thought they could make money doing something similar.

Yeah, I have friends who only cruise on Carnival b/c of that option; they don't pay any interest AFAIK. I'm not nosey enough or interested enough, to ask. To each their own.  However, this little scheme of NCL;s looks like some kind of game.

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Depending on interest rates, etc. it doesn't seem much different to me than putting it on a credit card, unless you pay your CC off each month. To each their own...

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I don’t understand this. I just book a cruise and make payments on it as I get money. I always have it paid off before final payment. I guess this is for people who want to cruise and flat out don’t have the money?!

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Posted (edited)
3 minutes ago, FLcruisergrl said:

I don’t understand this. I just book a cruise and make payments on it as I get money. I always have it paid off before final payment. I guess this is for people who want to cruise and flat out don’t have the money?!

 

bingo!

No different than a credit card. Someone wanting something so bad but don't have full upfront kind of money.

Edited by Georgie562

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Posted (edited)

LMAO
I posted about this new feature on the NCL site several months ago here on CC.  Foolish me.  I thought NCL was being nice and dividing my monthly payments before the final payment date. I thought it would automatically bill your card or something. I never clicked on it to make the other stuff pop up.  Yes, its some sort of finance feature which confuses me.  You can book a NCL cruise sometimes 2 years in advance.  You can make any monthly payment you want even charging your own credit card and being subject to finance fees if you wish. I have no idea who would use this feature.  I feel so dumb because I have seen it for months and use it as a guide for how much I have to pay each month before final payment. I really had no idea what was behind the curtain 😲

Edited by david_sobe

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I'm sure there are plenty of folks that are still making no more than  minimum credit card payments for a cruise they went on several years ago. 

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1 hour ago, ColinIllinois said:

Can't imagine taking out a loan and paying interest to go on a cruise.

yeah me neither, vacation is supposed to be relaxing and fun, if you can't pay upfront for a vacation ( put money aside for it) then you should not go, no point having a debt after every cruise..IMHO

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Carnival’s option is interest-free. We’re taking a four-day out of Charleston to Cuba later this year. Been making automatic payments of around $90 a month for awhile now. I never even notice them, but the cruise is now within a couple hundred dollars of being paid off. It’s a painless way to pay for a cruise for sure. 

 

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