Another UY Question

[dopeygirl76]

We are waiting to close on 225 pts SSR - with a Feb UY - we are planning an Oct 08 trip - the contract has banked points, do we have to use those banked points before the new banking time ends? I have read on other threads about the new banking rules and I think it is confusing me with the UY. This is our first DVC and there is so much to learn!!

 

[drusba]

It depends on what "banked" points are actually in the contract. If they are points that were issued Feb 06 and banked into the Feb 07 use year, they must be used before the end of this month. If they are points issued Feb 07 and banked into the Feb 08 use year, they must be used by Jan 31, 2009.

You have until end of eight month into use year to bank all your points into the next use year. They are then good for that entire use year into which they have been banked.

 

[dopeygirl76]

Thanks! Do I only need to bank those we will not use before Jan 21, 2009? Since we need to bank by Sept 30 and our trip is not until the end of Oct I guess that is where I'm getting confused.

 

[Deb & Bill]

Thanks! Do I only need to bank those we will not use before Jan 21, 2009? Since we need to bank by Sept 30 and our trip is not until the end of Oct I guess that is where I'm getting confused.

That's correct. You have to determine if you will use all the points or not before the last four months of your use year. If you are not going to use them all and don't bank them by the eighth month, you will lose them at the end of the use year.