DVC & Credit Report

[PoohBuddy]

I was wondering when you purchase DVC direct from Disney does it show up on your credit report? I have seen conflicting information on this and I was curious as to what people have seen. Thanks.

 

[southerngirl528]

My understanding is that it is a "soft" credit check and does not show up on your credit.

 

[gmboy95]

i have never seen it on any credit report i have ever run

 

[wnielsen1]

If you finance the purchase, yes. If not, no.

 

[Debbie Jean]

Nope. Not even if you finance.

 

[Sophie Weaver]

I called yesterday to confirm.

If you are financing, there are two things that may happen. If you have owned your membership for at least a year, regardless if it is a resale or direct, and wish to add-on direct points, you will not have a credit pull. The APR will be based on the down payment you place. If you have owned less than a year or are a new member, you will have a hard credit pull. The hard credit pull will occur for all individuals on the contract, so if you and your SO are jointly getting an account, the hard credit pull will occur for both of you. Once the credit pull has happened, they will let you know which APR you qualify for based on their calculations. They could not verify what they use for credit scores (TransUnion, Equifax, FICO 8).

The credit pull is good for 3 months in order for Disney to add points to your account directly. After the 3 months, if it has been less than a year for the age of your membership, they will complete another hard pull on your account. As a reminder, hard pulls are reflected on your credit score for 12 months. In turn, if you decide to finance and have them pull your credit, you will have 3 months to make a decision if your membership is under a year old.

If you are paying in cash, Disney does not pull your credit. Hope this helps!

 

[southerngirl528]

This is correct. With the exception of member's that have had late payments.

 

[Sophie Weaver]

This is correct. With the exception of member's that have had late payments.

Ahh! You're correct. I forgot that bit. If you currently have financing with Disney and have had late payments within the last 12 months OR were late paying dues, you will have to have your credit pulled in order to finance another purchase. Thanks for catching that!

 

[Mrsjnt083]

So, just to double check, as long as my membership is a year old, no credit check at all? Even if I bought through xyz resale company and financed with Monera?

 

[bumbershoot]

DH had atrocious credit (thanks to his ex wife and laziness keeping him from doing anything positive for it) and we financed through them. They didn’t pull credit reports tonsay yes or no, though I think they did a soft one to see about the actual interest rate (and we got the better one despite bad credit)

They also don’t report (unless you do egregious things).

So while owning Dvc benefited us, it wasn’t directly, but more because a layoff immediate after the 10 days showed us the razors edge we were in and scared us into doing better.

 

[2XPCV]

My experience (which backs up everything already said, but just another data point):

Credit check was a hard pull that showed up as DVD.

The loan itself, however, does not show up on the credit reports.

 

[babesboo99]

so since I just closed in December and I wanted to add 25 pts direct and finance I would have a hard pull on my report??

 

[KevCoz]

I purchased my first resale in January. I added 50 points with DVC yesterday. I got a notice today of a hard pull with Experian from DVC. Hope this helps!

 

[wnielsen1]

so since I just closed in December and I wanted to add 25 pts direct and finance I would have a hard pull on my report??

Unless things have changed, I don't believe you can finance a 25 point purchase (at least not a direct 25 point purchase through Disney).