banked points

[MAPOOH]

I am considering DVC membership. So if I purchase 200 points and do not use them during my use year my understanding is that I can bank them.
How do banked points work? Do you have a certain amount of time to use them. If I make a reservation 3 months out using banked points can I make changes to this reservation based on availability? Is there a fee to make a change to a reservation using use year points or banked points. For instance if I make a reservation for 5 nights at a resort and then change my mind and want to reserve at another resort can I do this if I use banked points?
Thanks

 

[drusba]

For reserving purposes banked points work the same as regular and there are no fees involved in reserving or changing any DVC resort reservation.

Banked points mean:

Assume your use year is October 1 to Sep 30. On October 1, 2009 you have your 2009 points which then can be used for any trip ending by Sep 30, 2010. If you do not want to use those points before then, you can bank them into the next use year Oct 1, 2010 to Sep 30, 2011 and use them for a trip during that year. You must do that banking by the end of the eighth month of your exisitng use year, meaning in the example by May 31, 2010 to bank them into the use year that begins Oct 1, 2010. Once banked, points stay banked and cannot be brought back into the original use year. Moreover, they cannot be banked again into the Oct 2011 to Sep 30, 2012 use year and thus must be used for a trip during the October 2010 use year. You use them to reserve just like any regular points and can make changes to reservations as long as, of course, the trip itself will occur in that Oct 2010 to Sep 2011 use year.

Also note that the above has no impact on when you can call to reserve, which is always 11 months in advance at home resort, 7 at others. Thus, if you had Oct 2009 points, you could call in Nov 2009 to reserve a trip in Oct 2010 (during your next use year) and use those points by banking them first on the call you make before actually making the reservation.

Also, one caveat, you mention making a reservation 3 months out and then changing it using the points. Sure you can do that but only if there is a room left to reserve when you want to go and at 3 months out or less you may find there are no rooms left to reserve.

 

[chalee94]

here are some good threads with more information on use year and other useful information about DVC:

Understanding Use Year.

Choosing Your Home Resort - What to Consider?

DVC annual dues history by resort.

When someone says Use Year does not affect when you make a reservation...