Banking and Borrowing restrictions?

[Mirthrindr2]

Hey folks. Couple of questions.

1. Is there some sort of deadline for which you must decide and notify DVC by if you want to bank points to the next UY? I thought I read somewhere here that you must bank your points no later than 3 months from the end of the current UY. May have misunderstood, but canot find the original post again.

2. I assume if you never call to bank your points by the cutoff date (assuming there is one), they are simply lost when the UY ends?

3. Similarly, is there a cutoff date for borrowing points? Can I still borrow points when my current UY ends say within 2 months? 1 month? several weeks?

Any other lesser known particulars with respect to banking and borrowing restrictions?

Thanks in advance,
Jim

 

[LisaS]

Hey folks. Couple of questions.

1. Is there some sort of deadline for which you must decide and notify DVC by if you want to bank points to the next UY? I thought I read somewhere here that you must bank your points no later than 3 months from the end of the current UY. May have misunderstood, but cannot find the original post again.

From now until the end of 2007, the banking rules are: up to 100% of your points during the first 6 months of your Use Year, up to 50% in months 7, 8 and 9, up to 25% in month 10 and nothing after that. New banking rules come into effect on Jan 1, 2008. Under the new rules, you can bank up to 100% of your points during the first 8 months of your Use Year and nothing after that.

2. I assume if you never call to bank your points by the cutoff date (assuming there is one), they are simply lost when the UY ends?

That is correct. The points would just expire at the end of that UY.

3. Similarly, is there a cutoff date for borrowing points? Can I still borrow points when my current UY ends say within 2 months? 1 month? several weeks?

You can only borrow points when making a reservation. You can make a reservation starting 11 months prior to your checkout date at your home resort and 7 months prior at any other resort. At the time you make a reservation, if you do not have enough points to cover it you can borrow points from the following UY, where "following UY" means the UY following the one in which the vacation dates fall.

There are no restrictions that I'm aware of for how late in your UY you can borrow points. To pick an extreme example, let's say you called on the last day of your UY to book a room for that night. You were out of (or had banked) all current UY points, so needed to borrow from the following UY to pay for that booking. As far as I'm aware, you could borrow the points from the following UY to make that reservation.

 

[Mirthrindr2]

Thanks for the info Lisa, I appreciate it.