A banking question from a newbie

[NoKatMom]

So, I'm trying to understand and not mess up the banking thing. We are in the process of buying and I just want to make sure that I have things right. Here's what I think is correct, if I am wrong would someone please help ??!! Part of our incentive to but was 200 bonus points that we get right now as they would be Aug 2006 points. Our guide told us that we will need to bank these right away. The points that we are buying have a use year of Aug 2007. So if I am thinking then this is true:
1. The bonus points have to be banked by Jan 31st or we lose them
2. We will get our next set of points on Aug 1, 2007.
3. The bonus points, even if banked, have to be used by Aug 30, 2008 or we will lose them.

Am I on the right track ??

 

[CarolMN]

So, I'm trying to understand and not mess up the banking thing. We are in the process of buying and I just want to make sure that I have things right. Here's what I think is correct, if I am wrong would someone please help ??!! Part of our incentive to but was 200 bonus points that we get right now as they would be Aug 2006 points. Our guide told us that we will need to bank these right away. The points that we are buying have a use year of Aug 2007. So if I am thinking then this is true:
1. The bonus points have to be banked by Jan 31st or we lose them

Yes, if you don't plan to use the points for a stay that ends on or before 7/31/2007, then you must call MS to bank them by January 31.

2. We will get our next set of points on Aug 1, 2007.

Assuming you have an August use year, you will get a set of 200 points that can be used for stays between 8/1/2007 and 7/31/2008.

3. The bonus points, even if banked, have to be used by Aug 30, 2008 or we will lose them.

Almost correct. If you bank the 2006 use year points, you must use them between 8/1/2007 and 7/31/2008.

Am I on the right track ??

You are definitley on the right track. Congratulations and welcome home - just a tad bit early.

 

[byoung]

Looking forward to Welcoming you Home.

 

[NoKatMom]

Thanks for the speedy reply. This is a hard financial descision to make.

 

[senecabeach]

Look here..Complements of LisaS and VaScubaGuy..

For quick reference, here is a table of banking deadlines for each UY: http://members.cox.net/disneyvacatio...rts/charts.htm (thanks to the DIS board's VAScubaGuy).

 

[bridger71]

We just signed on yesterday for 200 pts. like yourself with an August UY. We also got 200 pts. in our account now for 2006. Here's how your banking options break down:

You have until 1/31/07 to bank 100% (200 pts).

You have until 4/30/07 to bank up to 50% (100pts)

You have until 6/31/07 to bank up to 25% (50 pts)

There is a very good chart located on page 12 of your "New Member Handbook." Thats the one that looks like the coloring book.

 

[LisaS]

Look here..Complements of LisaS and VaScubaGuy..

For quick reference, here is a table of banking deadlines for each UY: http://members.cox.net/disneyvacatio...rts/charts.htm (thanks to the DIS board's VAScubaGuy).

That link to VAScubaGuy's DVC website got truncated so I thought I would repost it: http://members.cox.net/disneyvacationclub/pages/Charts/charts.htm