Bank/Borrow Points Question

[Skip Wiley]

We’re planning our first trip home for the end of January 2005 and are bringing along both our families for a total of 10 people (7 adults, 2 teens, and our 1 yr. old). We’re hoping to luck into an OKW GV because of the number of people, but we’ll have to wait for the 7th month window. I thought about booking two 2-bdr units at our home resort of BWV as a backup, but I’d have to borrow 100 pts from 2005 to cover the cost of 300 points. (We have a 200 pt contract with an August use year)

If I do borrow the points and an OKW GV is available I’ll only need 180 points, leaving 120 points left over after I cancel the BWV reservation. My question is, what is the status of those 120 points and when do they have to be used – 2004 use year? Could I use the 100 borrowed points from 2005 plus 80 2004 points for the OKW reservation, and then bank my remaining 2004 points?

We’re planning another trip in September 2005, so I want to make sure I’m not forced into using any points before then. Thanks for any advice you can offer!

 

[PamOKW]

Once points are borrowed to make a reservation, they are borrowed and can't be moved again. They have to be used by the end of the Use Year to which they were borrowed.

You want to take a trip in January 2005 so you will be using your August 2004-July 2005 points. (Have you already used or plan to use your August 2003 allotment?) If you borrow from August 2005 into your 2004 Use Year, those points will have to be used by July 2005.

Your chances of the GV are pretty good but not guaranteed. (You might ask MS to look at availability for you now even though it won't be guaranteed to be there when you can book.) If you are serious about this trip, you probably should have a back-up plan in place. I would at least book 1 two-bedroom and possibly a studio now. It's a lot easier to cancel than it is to book.

 

[wdwstar]

once you borrow points, those points will remain in the current use year, you borrow aug. 2005 points, when you cancel the ressies for okw , those 120 points become aug. 2004 points, and they would have to be used by july 31. 2005. borrowed points cannot be banked.

i dont think you will have a problem booking (2)2 bedrooms at the bwv at the 7 month, you also will have the option to book at vwl, bcv, okw if the okw gv is booked, and bwv. jan. is a low season. i would wait for the 7 month or find someone with okw points and trade points for the 11 month. i know gv go fast and your chances in getting one at the 7 month might be slim.

 

[CarolMN]

I agree with WDWstar - just wait for the 7 month window. That way you won't have the borrowed points problem.

While you may not get the GV at the 7 month mark, you shouldn't have a problem getting 2 bedroom units as a back up. OKW is not all that hard to get in January. Worst case is that you have to stay in the two 2 bedroom units there. That's a pretty good "worst case" outcome if you ask me!

Best wishes -

 

[Skip Wiley]

Thanks for the advice, in our list of preferences for this trip we put OKW GV first because it would be nice for all of us to stay together (and to avoid the question of which set of grandparents gets to stay with us and thier grandchild ) and two BWV 2-bdr second because if we are going to be split into two rooms we'd rather stay at BWV and take advantage of the multiple (and willing) babysitters for some time alone for dinner/drinks on the Boardwalk.

We just purchases a resale, so there are no 2003 points available. For future reference, if you cancel a reservation, can you still bank those points (assuming you are within the banking deadlines)?

Thanks!

 

[CarolMN]

Originally posted by Skip Wiley
...(snip)..... For future reference, if you cancel a reservation, can you still bank those points (assuming you are within the banking deadlines)?

Thanks!

Yes, you could bank the current use year points (assuming you are within the banking deadldines).

When you cancel a reservation, the points return to the current use year (which will be the same use year the canceled reservation was in) with the same status that they had before the reservation was made - i.e., current year, banked from previous use year, or borrowed from the next use year.

As you know, once banked or borrowed, points expire at the end of the use year into which they were banked or borrowed. You cannot "undo" a banking or borrowing transaction.

Best wishes -

 

[PamOKW]

Originally posted by Skip Wiley
For future reference, if you cancel a reservation, can you still bank those points (assuming you are within the banking deadlines)?

Thanks!

As Carol said, you can bank any points that are from the current Use Year and are within banking deadlines. The only exception is if you cancel 30 days or less from check-in. Then the points would go to the Holding Account where they can't be banked or borrowed and can only be used to make reservations 60 days in advance of travel.

You may also want to consider a SSR GV as a possibility if OKW isn't available. They look beautiful and pointwise are between BWV and OKW.