Banking and Borrowing Question

[Hopefully]

Hello Experts.
I want to be sure that I understand Banking and Borrowing concepts.
I believe that you can bank your current years points, or part thereof. Is it up to 31 days before the end of your Use Year?
So if I bank 2008 points and make a reservation in 2009 are the banked points used first, reserving any remaining 2009 points for a future stay? Do I have to tell them to use banked points first?
2008 banked points will expire at the end of 2009 Use Year - right? So if I have an October Use Year my 2008 points are good until 10/31/09, is this right?
Next years points can be "borrowed" at any time, is that correct?
Are years in Banking and Borrowing Use Years vs Calendar years?
Thanks for your help

 

[jarestel]

Hello Experts.
I want to be sure that I understand Banking and Borrowing concepts.
I believe that you can bank your current years points, or part thereof. Is it up to 31 days before the end of your Use Year?
So if I bank 2008 points and make a reservation in 2009 are the banked points used first, reserving any remaining 2009 points for a future stay? Do I have to tell them to use banked points first?
2008 banked points will expire at the end of 2009 Use Year - right? So if I have an October Use Year my 2008 points are good until 10/31/09, is this right?
Next years points can be "borrowed" at any time, is that correct?
Are years in Banking and Borrowing Use Years vs Calendar years?
Thanks for your help

Banking deadlines are: Anytime less than 8 months into your use year. October use year means absolute banking deadline is before June 1.

Your banked points SHOULD be used first, but it never hurts to remind the MS rep you are speaking with to do this in case they overlook it.

Any banked points, if not used, will expire at the end of the use year they are banked into.

You may borrow from the "next" use year's points whenever they are needed for a reservation falling within your current use year.

Banking & Borrowing are based on use years, not calendar years. Dues are the only DVC component that are based on calendar years.

 

[DisneyOrBust2006]

I believe that you can bank your current years points, or part thereof. Is it up to 31 days before the end of your Use Year?

Up to the last day of the 8th month of your use year. Thus, OctUY points must be banked by 31-May.

So if I bank 2008 points and make a reservation in 2009 are the banked points used first, reserving any remaining 2009 points for a future stay? Do I have to tell them to use banked points first?

Usually CM will presume ... but still a good idea to tell them what you want.

2008 banked points will expire at the end of 2009 Use Year - right? So if I have an October Use Year my 2008 points are good until 10/31/09, is this right?

2008 points banked into 2009 UY must be used by end of use year. For OctUY that is 30-Sep-2010.

Next years points can be "borrowed" at any time, is that correct?
Are years in Banking and Borrowing Use Years vs Calendar years?

Yes & Yes.

 

[kristenrice]

Wow, I am glad there are experts here! Can you help me a little?

We're (hopefully) going to buy into AKV within the next two weeks. I am going to try and get a June UY. My dad and I are planning an extended family (13 people as of now) vacation in 2012. Dad has already said he wants 2 2BR at OKW (his favorite resort). We know someone willing to rent us points for that trip, but if we buy in, we'll use ours as well. If we plan on traveling in June of 2012, what UY's points am I banking and what UY points am I borrowing? We're planning on the 100 points at AKV and I am trying to figure out when we could use the last points before having to bank ALL 100 so that we'll have 300 available for June 2012. Does this make any sense, because I confused even myself?

 

[RobDoc]

Wow, I am glad there are experts here! Can you help me a little?

We're (hopefully) going to buy into AKV within the next two weeks. I am going to try and get a June UY. My dad and I are planning an extended family (13 people as of now) vacation in 2012. Dad has already said he wants 2 2BR at OKW (his favorite resort). We know someone willing to rent us points for that trip, but if we buy in, we'll use ours as well. If we plan on traveling in June of 2012, what UY's points am I banking and what UY points am I borrowing? We're planning on the 100 points at AKV and I am trying to figure out when we could use the last points before having to bank ALL 100 so that we'll have 300 available for June 2012. Does this make any sense, because I confused even myself?

For a trip in June, 2012 (and with a June Use Year) you would be within your 2012 Use Year (June 1, 2012 - May 31, 2013). For that reservation you would have the ability to use any points you had banked from your June 2011 Use Year, points from your 2012 Use Year and you could also borrow points from your 2013 Use Year. With a contract of 100 points, you would be able to use up to 300 points for that reservation by using 100 banked points from 2011, 100 from your 2012 use Year and 100 points borrowed from 2013.

Since it sounds like your Home Resort will not be OKW - you could make that reservation 7 months ahead by calling in November, 2011.

Enjoy!

 

[kristenrice]

Thanks, Doc!

 

[mgilmer]

My wife has agreed that we should buy into DVC. We will be vacationing almost exclusively in the first two weeks of December every other year for the foreseeable future once in DVC. Should I get a UY in the spring so that if something comes up late into our vacation plans (say we want to cancel in October or November) we can still bank our points into the next year? I was thinking a March or April UY would be best based on this thinking. Am I wrong?

 

[RobDoc]

My wife has agreed that we should buy into DVC. We will be vacationing almost exclusively in the first two weeks of December every other year for the foreseeable future once in DVC. Should I get a UY in the spring so that if something comes up late into our vacation plans (say we want to cancel in October or November) we can still bank our points into the next year? I was thinking a March or April UY would be best based on this thinking. Am I wrong?

If you will primarily travel in December, a December, October or September Use Year would be best in the case of a late cancellation.

If you cancel a December in October or November (as long as it's 31 days or more before arrival), you will still be able to bank those points up until thru July 31 (with a December Use Year). If you have a March or April Use Year and cancel, it's possible to be beyond your banking deadline depending on the specifics.

Use Year has nothing to do with when you can make a reservation and having a Use Year which begins shortly before you will travel gives you the most flexibility in the case of a cancellation.

 

[SuzanneSLO]

If you will primarily travel in December, a December, October or September Use Year would be best in the case of a late cancellation.

If you cancel a December in October or November (as long as it's 31 days or more before arrival), you will still be able to bank those points up until thru July 31 (with a December Use Year). If you have a March or April Use Year and cancel, it's possible to be beyond your banking deadline depending on the specifics.

Use Year has nothing to do with when you can make a reservation and having a Use Year which begins shortly before you will travel gives you the most flexibility in the case of a cancellation.

While I agree with Doc, when Thanksgiving is early, you may want to begin your early December vacation in late November. As a result, a December UY may not give you the most flexibility.

Also, in case you were not aware, early December is very busy for DVC bookings. Many member book 11 months out at their home resorts to make sure they have a room. If there is a specific resort at which you would like to usually stay, you should seriously consider buying points at that resort.

Best of luck -- Suzanne

 

[NSL]

I too am a new DVC owner and I keep going through this in my head to make sure I have got it. My luck I would bank and borrow everything incorrectly and loose everything. Can someone check my understanding? I think what is confusing me is I have a Dec. UY and when I begin thinking about Dec 08 points I have to remember they don't expire until Nov. 30, 2009.

Ok so here is a scenario, see if I got it:
We will receive 160 points Dec. 08, I will bank them and have until Nov. 30, 2010 to use them. Correct? So I could use 160 banked points from Dec 08 and my current Dec. 09 points for a trip in June 2010? I could potentially even borrow from Dec. 2010 UY too?

 

[mgilmer]

If you will primarily travel in December, a December, October or September Use Year would be best in the case of a late cancellation.

If you cancel a December in October or November (as long as it's 31 days or more before arrival), you will still be able to bank those points up until thru July 31 (with a December Use Year). If you have a March or April Use Year and cancel, it's possible to be beyond your banking deadline depending on the specifics.

Use Year has nothing to do with when you can make a reservation and having a Use Year which begins shortly before you will travel gives you the most flexibility in the case of a cancellation.

Thanks. I think I understand now. I am going to look for an October UY. Is that one any scarcer that others?

While I agree with Doc, when Thanksgiving is early, you may want to begin your early December vacation in late November. As a result, a December UY may not give you the most flexibility.

Also, in case you were not aware, early December is very busy for DVC bookings. Many member book 11 months out at their home resorts to make sure they have a room. If there is a specific resort at which you would like to usually stay, you should seriously consider buying points at that resort.

Best of luck -- Suzanne

We like staying at either the Beach Club or the Boardwalk so we will buy at one or the other of those. I guess it will be whichever comes available first. We will need about 115 points, more or less, to go for 10 days Sun-Thurs every other year in a 1 Br during Adventure season. I had hoped that when DVC went to a 100 pt min for AKL, they would do that for all resales, but I guess not so we will be going resale I guess.

 

[ypv]

Just bought into SSR (resale) and had a quick question: If I borrow points from my 2009 allotment for use in 2008 but then cancel a day of my reservation, I can't restore those points to 2009. But I could bank some of my 2008 allotment into 2009. Is that correct?

 

[BirdsOfPreyDave]

Ok so here is a scenario, see if I got it:
We will receive 160 points Dec. 08, I will bank them and have until Nov. 30, 2010 to use them. Correct? So I could use 160 banked points from Dec 08 and my current Dec. 09 points for a trip in June 2010? I could potentially even borrow from Dec. 2010 UY too?

Banking all 2008 points and potentially borrowing all 2010 points, you can take a vacation in June 2010 with up to 480 points.

 

[chalee94]

Just bought into SSR (resale) and had a quick question: If I borrow points from my 2009 allotment for use in 2008 but then cancel a day of my reservation, I can't restore those points to 2009. But I could bank some of my 2008 allotment into 2009. Is that correct?

yes. the borrowed 2009 pts are stuck in the 2008 UY but your 2008 pts can be banked (depending on your banking deadline) into the 2009 UY.

 

[hlyntunstl]

I posted this in a separate thread but thought it applied to this one also.
As a regular reader of fine print, if you review the banking guidelines on DVCMember.com, there is a chance that they could deny or delay your banking request. The exact phrase is:

To maintain a proper balance of Vacation Points in the Central Reservation System, banking may be suspended or limited from time to time.

When I asked MS about it, I was told that it had never been instituted but it could be used. Basically, they would tell you you cannot bank your points if there are too many people trying to bank xxx number of points at the same time but you could bank at a later date. I asked what happens to my points if I try to bank on the last day of my banking window but it is denied or delayed and was told I would lose those points because I didn't bank them by the deadline. MS recommended banking as soon as you are sure you are not using the points during the current UY to avoid the chance.

It sounds like it hasn't been used but it's better to be aware of the possibility just in case.

 

[ydrj]

Reading this has helped me, Thanks!

 

[RobDoc]

I posted this in a separate thread but thought it applied to this one also.
As a regular reader of fine print, if you review the banking guidelines on DVCMember.com, there is a chance that they could deny or delay your banking request. The exact phrase is:

To maintain a proper balance of Vacation Points in the Central Reservation System, banking may be suspended or limited from time to time.

When I asked MS about it, I was told that it had never been instituted but it could be used. Basically, they would tell you you cannot bank your points if there are too many people trying to bank xxx number of points at the same time but you could bank at a later date. I asked what happens to my points if I try to bank on the last day of my banking window but it is denied or delayed and was told I would lose those points because I didn't bank them by the deadline. MS recommended banking as soon as you are sure you are not using the points during the current UY to avoid the chance.

It sounds like it hasn't been used but it's better to be aware of the possibility just in case.

There are a number of things that DVC can change without any consultation or notice to the membership. Banking and borrowing can both be suspended or limited, the point charts can be reallocated (this DID happen back in 1996) , the reservation priority for owners could be reduced to as little as one month allowing non-home reservations 10 months from arrival, and - as we have all learned in the past couple of weeks - the reservation priority can be modified to allow additional dates even beyond 11 months. There are other thngs which could also be changed.

While some of these things may never happen, it is worthwhile recognizing that they could be changed.

 

[LuckyMamaInDE]

I have a question about borrowed points and changes/cancellation.

We have a AKV 2br and a AKV studio booked for Aug 17-24, the 2br for us and my sister's family and the studio for my parents. We used all 2007 points (banked) and 155 2008 points for the 2br. We used the last 5 2008 points and borrowed 112 2009 points for the studio. June use year.

My mother was diagnosed with ovarian cancer and had surgery last week. She starts chemo on Thursday. They will not be able to join us on our vacation. We are all very sad

If I cancel the studio reservation, can my borrowed 2009 points be applied to our 2br reservation and the equivalent number of 2008 points be banked?

I'm trying to figure out how my parents will be able to vacation on those points once my mother is up to it.

Thanks for any insight