banking and borrowing I'm confused

[disgirl]

Hi ! This is all new to me, so I have a couple of dumb questions that I hope someone can help me with. If our dvc resale goes through, we will have some points from 2003 that we would like to bank. With the banked points and planning to not do disney world for our 2004 vacation, I think we will have some, (not many) points to bank for 2005 year. Can we do this, and if so, do we have to make sure we either use or rent any left over points in 2005 or we lose them? I hope I make sense here. I know we were told by a guide that you can bank and borrow but can not have more that 3 years worth of combined points. I guess what I am asking is, Does that apply also to when you have a small amount of points left from a few years? Can you save them for a year when you can use all of them, or do you have to rent , give them away or you lose them after 3 years?


I hope this question is not so dumb that noone can understand what I am asking. Any responses you have would be appreciated. Thanks. I hope we can say we'll be going home soon!!

 

[PamOKW]

If you know the Use Year, I could give you a more detailed rundown but hopefully this will help.


Your 2003 points can be banked into 2004 (if you are within the deadlines for banking). These points have to be used no later than 2005 (the last day of the month that precedes your Use Year month). They cannot be banked again.

Your new 2004 points can be banked into your 2005 Use Year. You can also borrow points from 2005 into 2004. The way you have 3 years worth of points is to use bank points forward, use your current points and borrow points from the upcoming year.

Once points are either borrowed or banked, that's it. They must be used by the end of the Use Year to which they were moved.

 

[DebbieB]

You can only bank ahead 1 use year. The 2003 points could be banked into 2004 but not 2005. You could bank the 2004 points into 2005 if you do so by the 100% banking deadline (depending on the use year). When they say 3 years of points, they mean banked points from the prior year, current year points and borrowed points from the next year. So in your 2005 use year, you could use 2004 banked points, current 2005 and borrowed 2006, that's where 3 years comes from. When the points actually must be used by depends on your use year and the date of your stay. For example, if your use year is August, you could actually use those 2004 banked points until July 31, 2005, which is when your 2004 use year expires.

 

[dcfromva]

disgirl,
Hmmm. I'm not sure of all your specifics, but I will give your question a try.

If you have points banked from 2004 into the next use year, you have to use them by the end of your 2005 use year....

However, if you have a trip planned in 2005, your banked points should be used first.

Even though it is not cumulative because you have to use your banked points by the next use year, if every year you have say 10 points left over each year consistantly--it will add up over time...

Let's say you have 150 points and your vacation plans only require 140 points each year (just for example). In 2004, you bank 10 points into 2005.

In 2005, you book your vacation (using the 10 banked points first) and your vacation only takes 140 points, you would bank 20 points into 2006.... et'c.

Does that help?

-DC

 

[disgirl]

You are so helpful. dcfromva: that is exactly what I was implying, having 10 or so points left each year for a few years. I get it now, as long as I use the banked points first for my vacation, I could eventually accumulate the small amounts of banked points and use them toward perhaps a longer stay. My use year would be April for just 150 points. Too bad, it isn't more.
DebbieB and PamOKW Thanks. I hope some day I will be able to answer questions as confusing as mine was for someone else. You are the best.

 

[DebbieB]

With an April use year, these are the dates your points would have to be used by:

2003 March 31, 2004
2004 March 31, 2005
2005 March 31, 2006

These dates are the dates of your stay, not when you make reservations.

Banking extends the deadline 1 year. So if you bank 2003 points, they would have to be used for a stay by March 31, 2005. At this point, you could only book 50% of your 2003 points, the 100% deadline was Sept 30. You have until Dec 31 to bank 50% (75 points) or January 31 for 25% (37).

 

[disgirl]

Thanks DebbieB. I think I am finally getting it. Miracles do happen, I guess, ha! Thanks Again.