champagne27 said:
We are thinking about buying into
DVC but would probably only go every other year. How does banking/borrowing work? For example, my use year is Janaury and I have 125 points. I want to bank 2005 points so I will have 250 to use in 2006 - how long are those banked points good for?
What about borrowing? If I get my 125 points on 1/1 and want to borrow 125 points from the next year to have 225 for the vacation - when can I borrow them?
Would it ever be possible to "spurlge" witha bank and borrow to add to the current year for 375 points?
Is there a fee for banking and borrowing? Sorry to be a pain - just want to make sure I understand. I have requested the DVC video so I'm hoping that will help too...
Thanks - K
First there's no such thing as a January Use Year. The eight Use Years used by DVC are: Feb, Mar, Apr, Jun, Aug, Sep, Oct, Dec.
Now, to answer your basic question, suppose you had a February use year of 125 points. (Of course this also means you would have purchased it resale since for a new member the minimum purchase direct from Disney is 150 points).
A February UY means that every Feb 1st you would receive your new allocation of points to use within the next 12 months. However, you can also bank one years points into the next use year, and/or you can also borrow points from a following use year into a previous year.
It's easiest to understand if you make yourself a UY chart. A Feb. UY chart would look like this:
Use Year.....Vacation Dates
2005.....Feb 1, 2005 through Jan 31, 2006
2006.....Feb 1, 2006 through Jan 31, 2007
2007.....Feb 1, 2007 through Jan 31, 2008
2008.....Feb 1, 2008 through Jan 31, 2009
2009.....Feb 1, 2009 through Jan 31, 2010
2010.....Feb 1, 2010 through Jan 31, 2011
If you wanted to take a vacation sometime in your 2006 use year, you could bank all your 2005 points. You could also borrow as many of your 2007 points as needed. So theoretically for a 125 point contract you could have as much as 375 points in the 'middle' year to use.
There is no fee to bank or borrow points.
You bank points according to banking deadlines which control how many points you can bank as your use year progresses. The percentage of points you can bank decreases as your use year progresses. This is to keep people from waiting until the end of their use year and then trying to bank everything at once. Basically you can bank 100% of your points within the first 6-months of your use year.
You only borrow points at the time you make a reservation. And you can only borrow the number of points required to complete that reservation. In other words you do not borrow ahead. Say you wanted to take a vacation at your home resort in June 2006. You could make this reservation 11-months ahead, or in July 2005. July 2005 is still within the 100% banking window for your 2005 points, so you could call at that time, bank all your 2005 points, then make the reservation using the banked 2005 points, all (or as many as needed) of the 2006 points, and you could borrow whatever 2007 points you might need to complete the total.
Hope this helps.
