Bamked points question

[Duddleyy]

Hello, everyone. We just joined after lurking for some time. We are on the verge of buying a resale, and I think we have just about all the info we need to make an informed decision, thanks mostly to this forum. We do, however, have a question regarding the ability to reclaim banked points.

I understand that the amount of points eligible for banking diminishes as the use-year expires. My question is, is it possible to reclaim banked points for the current year, and if so, is there a "fee" associated with such a transaction? In otherwords, what prevents everyone from automatically banking all their points, and then drawing on them early? This would prevent the risk of accumulating points inelligible for banking as the year transpires.

Duddley

 

[poohj80]

No, once points are banked they cannot be used until the next use year. However, if you decide you need some points after you have banked them, you can always borrow against the next year's new points and leave the banked points for later.

 

[Happy Birthday Cat]

Another option for banked points if you can't use them, is to rent them or deposit them with II. If you deposit them with II, you get two more years to find a place outside of Disney to use your points at.

HBC

 

[Duddleyy]

HBC, thanks for the reply, but what's "II"? I don't find it in the abbreviations list.

Poohj80, I didn't think of that, thanks! What is the life span of the banked points, then? If I bank all my points at the beginning of my use-year(UY), are they all usable until the end of the subsequent use year?

As an example:
UY anniversary 1/1/04
Bank all points into UY 05
Do all the banked points expire on 12/31/05, or sooner?

 

[Happy Birthday Cat]

Duddleyy

Sorry. II is Interval International. It is like RCI and acts as a depository for people who want to trade time shares with other people. It is listed by DVC under the World Passport Collection. By depositing your points with them you can essentially postpone your use of points for 2 more years.

If I bank all my points at the beginning of my use-year(UY), are they all usable until the end of the subsequent use year?

Yes you have it exactly correct in your example if a January use year existed.

HBC

 

[Duddleyy]

So it seems that the life span of banked points can be up to 2 years, albeit usable only in the second year. Since borrowing any or all of next year's points (not the banked) can be done any time in the year, banking all points and borrowing for the current year effectively eliminates the risk of getting stuck with un-bankable points as the current year ages i.e. you borrow only what you need, when you need it, and any remainder is waiting for you next year - not lost.

The only downside I see is that I could never have more than twice my points available since I'm always borrowing for the current year, and all my banked points aren't available until the next.

Can anyone see a reason to not do it this way? Have a missed something critical? It seems to simple.

Duddley

 

[PamOKW]

A problem with automatically banking all your points and then using borrowed points (instead of current points) could happen if you have to cancel. Points that have been banked or borrowed cannot be moved again. You must use the borrowed points by the end of your Use Year. Current points give you the option of banking them.

HBC, I've heard the depositing option mentioned before. Can you tell me a little more about that? Can points be deposited without any search request?

 

[Happy Birthday Cat]

Pam,

I don't know if they can be depositied without a request, but you could certainly limit your request so much that it would be next to impossible to fill. Pick any winter holiday week for a top notch ski resort and it's almost impossible to fill.

I had to do the deposit first method when I purchased a resale with points that were about to expire. I think we started doing a search right away, but 1 year later settled for something nice but far different than my original request.

HBC

 

[PamOKW]

Thanks HBC -- It's something to consider.

 

[Shamus]

Duddleyy,

Also remember that You can only Bank points 1 year forward. Banked points must be used in the use year they are banked too and cannot be rebanked.

Example: If you banked all your 2004 (yr 1) points into 2005 (yr 2) then borrowed all you 2005 points into 2004, you would not have any points available to bank into 2006 (yr 3). You would be required to use or lose those 2004 points during the 2005 use year.

Hope that is clear

Shamus

 

[Duddleyy]

Yep. Thanks, Shamus.

 

[dianeschlicht]

In reality, you COULD have 3 years of points available. If you bank one year into the next and make a big ressie in that second year with all the points from both years plus borrow the points from the following year, you would be using 3 years points at once. LOL! Not sure I would want to do that!

 

[Duddleyy]

a big ressie?

 

[Granny]

a big ressie?

"A big ressie" = a reservation requiring a large number of points.