Another points & use month question

[csmommy]

I bet you all will be just as happy as I am when I finally become a DVC member because I will have less questions!

The resale I am looking at has a Feb use year & has all its points from 2006. Lets say I close in July. I will not be going to Disney until June/July 2007. What happens with my 2006 points?

 

[Happy Birthday Cat]

You would bank them and next year have double the number of points available. Since you would close within the first 6 months of a use year, you can bank 100% of your points. Just make sure Member Services uses your banked points first when making the 2007 reservation.

HBC.

 

[JimMIA]

If you are going to be close to your 100% banking deadline -- which you will be if there are any delays in ROFR or closing -- ask the seller to bank the points prior to closing. That way, you won't have to worry about the banking deadline.

 

[csmommy]

Once again I have learned something new, thank you.

If February is my use year, when do I have to bank the 2006 points by? Where should I be reading to understand all this? I thought that as long as I banked my points before the new ones come I could bank them all.

Thanks.

 

[CarolMN]

Once again I have learned something new, thank you.

If February is my use year, when do I have to bank the 2006 points by? Where should I be reading to understand all this? I thought that as long as I banked my points before the new ones come I could bank them all.

Thanks.

With a February use year, the 100% banking deadline is the end of July. That means if you want to bank all (100%) of the 2006 annual allotment of points, you would have to call MS before they close on Monday, July 31, 2006.

If you don't bank before July 31, the most you could bank is 50% of your annual allotment. And that would have to be done before the end of October. The 50% you can't bank would have to be used before 2/1/2007 or they expire and are lost to you.

If you wait until November, you can ony bank 25% of your annual allotment.

With a February use year, there is no banking allowed at all during December and January.

Best wishes -

 

[JimMIA]

With a Feb UY, you can bank 100% of your points by the end of July.

You can bank 50% of the points by the end of October, and 25% of the points by the end of November. Those totals are cumulative, of course, so if you banked 50% in July, you would not be able to bank anything else that use year.

Once points are banked or borrowed, those transactions cannot be reversed. So if you banked all your points in July and then changed your mind and decided to do a December trip, you would have to borrow points from the following use year. We actually use that banking/borrowing technique as a strategy to avoid losing points.

 

[JimMIA]

The other thing you could do with your 2006 points is to rent them. Some do that, figuring that the rental income reduces their overall buyin cost.

But obviously, if you rent, you need to learn that game too, or you'll shoot yourself in the foot.