Bank and Borrow Question

[theorangebird]

We are considering purchasing our first resale contract. I am trying to wrap my brain around borrowing and banking and want to make sure I am understanding this correctly…or not.

The contract we are looking at has a Dec use year and points both banked and coming Dec 2023. I don’t think we will use the 2023 points - (already have a trip booked this Dec) we can bank these correct? Except the ones banked from 2022?

If we can bank them - do we then need to use both the 2023 and 2024 points the following year - or use what we need and then again bank the rest? As long as the number of points banked from 2023 are used? Hope that makes sense -

I want to make sure we choose enough points to cover what we will probably need, but don’t want to end up losing a bunch of points. Thanks!

 

[aceshigh73]

We are considering purchasing our first resale contract. I am trying to wrap my brain around borrowing and banking and want to make sure I am understanding this correctly…or not.

The contract we are looking at has a Dec use year and points both banked and coming Dec 2023. I don’t think we will use the 2023 points - (already have a trip booked this Dec) we can bank these correct? Except the ones banked from 2022?

If we can bank them - do we then need to use both the 2023 and 2024 points the following year - or use what we need and then again bank the rest? As long as the number of points banked from 2023 are used? Hope that makes sense -

I want to make sure we choose enough points to cover what we will probably need, but don’t want to end up losing a bunch of points. Thanks!

I think you got it

Your Dec 2023 pts you will get Dec 1, those you dont have to bank until July 31st 2024. They will have to be used by Dec 2025 (I think!) if u bank them.
Your banked Dec 2022 pts have to be used by Dec 2024. Hopefully someone corrects me if im wrong.

 

[MyDogTink]

The points seller banked from UY 2022 need to be used by Nov 30th of this year. Depending on how quickly the resale process works, you may not have the opportunity to use them. Is the contract priced accordingly for that?

Dec 1st of this year starts your Dec 2023 UY. You get full allotment of 2023 points. You would need to bank them by the banking deadline in 2024 (is it July 31st?). They would be banked into your 2024 UY and need to be used by Nov 30, 2024. I think I have that right.

 

[aceshigh73]

The points seller banked from UY 2022 need to be used by Nov 30th of this year. Depending on how quickly the resale process works, you may not have the opportunity to use them. Is the contract priced accordingly for that?

Dec 1st of this year starts your Dec 2023 UY. You get full allotment of 2023 points. You would need to bank them by the banking deadline in 2024 (is it July 31st?). They would be banked into your 2024 UY and need to be used by Nov 30, 2024. I think I have that right.

If they have Dec 2022 pts that were banked into 2023, wont they have until Nov 30 2024 to use them?

 

[intamin]

We are considering purchasing our first resale contract. I am trying to wrap my brain around borrowing and banking and want to make sure I am understanding this correctly…or not.

The contract we are looking at has a Dec use year and points both banked and coming Dec 2023. I don’t think we will use the 2023 points - (already have a trip booked this Dec) we can bank these correct? Except the ones banked from 2022?

If we can bank them - do we then need to use both the 2023 and 2024 points the following year - or use what we need and then again bank the rest? As long as the number of points banked from 2023 are used? Hope that makes sense -

I want to make sure we choose enough points to cover what we will probably need, but don’t want to end up losing a bunch of points. Thanks!

The December 2022 points (aka banked) must be used by 11/30/24.
The December 2023 points can be used by 11/30/24 or you have the option to bank them by 7/31/24. Should you decide to bank them, you have until 11/30/25 to use them.

You can keep repeating this cycle; however, you must keep using AT LEAST however many banked points are in the contract every year or else you will be wasting banked points. In a perfect world yes you could keep repeating this and use the same exact amount every year but some years you'll use more, some years you'll use less. Just make sure at the bare minimum you're using up all of the banked points.

 

[jjanne]

If they have Dec 2022 pts that were banked into 2023, wont they have until Nov 30 2024 to use them?

agree with @aceshigh73... the banked points would expire Nov 30 2024

Dec 2022 UY points expires Nov 30, 2023
but if banked by July 2023 (which seems to be the case here), the points would have been moved to 2023(Dec)use year (use by Nov 30 2024 expiration or points will expire.)

Dec 2023 UY points expires Nov 30 2024
but if banked by July 2024, this would be moved to 2024(Dec) use year (use by Nov 30 2025 expiration or banked points will expire)

Dec 2024 UY points expires Nov 30 2025
this can be banked by July 2025 and moved to 2025(Dec) use year (use by Nov 30 2026 expiration or points will expire)

 

[Sandisw]

Every set of points can be used during their UY or banked forward one year

If you have banked points, those get used first when you book and then use any other points to finish booking. Any leftovers get banked.

As mentioned, you can keep doing it year after year!

 

[MyDogTink]

If they have Dec 2022 pts that were banked into 2023, wont they have until Nov 30 2024 to use them?

You’re right so that’s a good resale contract then.