No, DVC has to be purchased in “cash” (or financed). However, if you purchase directly from Disney (and are willing to pay their premium), you can pay with as many credit cards as you’d like to earn points, hit MSRs, etc. You still need to be able to pay off those credit cards though, and I cashed out enough MR and UR points to cover the purchase. Amex MR can be cashed out at 1.25 cpp via a Charles Schwab Platinum into a Schwab brokerage account. Chase UR can be cashed out at 1 cpp as a statement credit or into any bank account. (DVC annual maintenance fees can be paid with Disney Gift Cards.)
Of course, you can redeem or transfer MR and UR points through their travel portals or to airline and hotel partners for greater than 1-1.25 cpp redemption values, and I understand how some people may scoff at my use of 1.2 million MRs and 500k URs (all the lie flat seats and RTW trips I’d be giving up!). But we’ve been earning points faster than we can manage to spend them, and we didn’t have a pressing need for all these points in the next year. Meanwhile, we’ll likely continue to go back to Hawaii and need a place to stay year after year. So this makes sense for us. The game keeps getting tougher, and banks and their travel partners are likely to continue cracking down on churning and devaluing their currencies, or worse. Even after cashing out, we’re still sitting on a “comfortable” amount of points for our use in the next year or two, and I’ll keep earning points to bring those totals back up for whatever’s next.