Banking, Borrowing...my head is spinning!

[vbarry]

Just purchased DVC!

I made a reservation for August with February 2007 points.

I then had enough points to make a Thanksgiving reservation with the 2007 points. We may have to cancel due to my husband's work schedule. I made the ressie anyway just in case.

I wanted to add a day but then would have to borrow from 08 points. I may have to cancel this reservation and MS stated that if I cancelled the 08 borrowed points would need to be used by January 08. I declined borrowing and paid cash for one night.

If I cancel the Thanksgiving reservation and decide to make an Easter reservation instead-can I still use by 07 points or will they need to be banked first? I plan to make the Easter reservation in April.

What happens if you borrow and then need to cancel?? Is borrowing not a good idea?

Thanks for any help! Sorry if these ?? have been answered several times...I am just not sure what I am doing!!

 

[mic_KY_mouses]

Hi!

I think if you borrowed what 2008 points you need MS could apply those points to your August ressie. If so, you would be able to bank any remaining points from your 2007 use year. You would still have to go by the banking guidelines on the 2007 points though.

One of the experts will probably give your better advice though...

 

[greenban]

Just purchased DVC!

I made a reservation for August with February 2007 points.

I then had enough points to make a Thanksgiving reservation with the 2007 points. We may have to cancel due to my husband's work schedule. I made the ressie anyway just in case.

I wanted to add a day but then would have to borrow from 08 points. I may have to cancel this reservation and MS stated that if I cancelled the 08 borrowed points would need to be used by January 08. I declined borrowing and paid cash for one night.

If I cancel the Thanksgiving reservation and decide to make an Easter reservation instead-can I still use by 07 points or will they need to be banked first? I plan to make the Easter reservation in April.

What happens if you borrow and then need to cancel?? Is borrowing not a good idea?

Thanks for any help! Sorry if these ?? have been answered several times...I am just not sure what I am doing!!

Hey Neighboor and welcome Home:

February 2007 UY points are good starting Feb 1, 2007 and expire January 31, 2008. You may bank 100% of these points until the last business day in July, 2007. They would then permanetly become February 2008 UY points. They would be good for ressies from Feb 1, 2008 until January 31, 2009. These points could not be banked again, nor borrowed or transferred since they have been banked.

If you cancelled, your Thanksgiving stay, 50% of your 2007 UY Points could be banked until the end of October, 2007, into your Feb 2008 UY. If you borrowed, 2008 points they could not be banked, and would expire January 31, 2008.

By the end of November 2007, you could still bank 25% of your UY points.

These are cumulative totals. If you banked 50% by October, you would not be able to bank any more points for that UY.

Now this suggestion may work better for you. Rebook your first vacation (April?) using enough borrowed 2008 points, to cover the last night of your maybe Thanksgiving vacation with your 2007 UY points. Thus if you have to cancel, you would have all 2007 points to bank, up to your 50% level, and none would be lost!

Hope that helps!

-Tony

 

[greenban]

Hi!

I think if you borrowed what 2008 points you need MS could apply those points to your August ressie. If so, you would be able to bank any remaining points from your 2007 use year. You would still have to go by the banking guidelines on the 2007 points though.

One of the experts will probably give your better advice though...

Perfect and succint!

Consider yourself an expert!

-Tony

(Hope you like frogs!)

 

[disney dumbo]

Wow... I'm trying to learn this too.

Seems like when booking close to the end of your UY...
the last 2 months... with current UY points or borrowed UY points or banked UY points... no real protection... better be able to use them in these 2 months.

But during the 3rd to last month... with 25% of your current year points... if you haven't already banked 25%... those can be saved if you cancel appropriately.

I would have never thought about using 2008 first... then later using 2007... you folks are soooooooooo smart.

Not that I would ever want to cancel... but life does throw that your way some times... and it's nice to be prepared... 'cause the last thing I want to happen is lose a vacation!

Thanks for all your posts!

 

[mic_KY_mouses]

Perfect and succint!

Consider yourself an expert!

-Tony

(Hope you like frogs!)

Greenban, I have been coming to the DVC forums for five years (mostly lurk) and still feel like I have a lot to learn. I like lots of things.....frogs included! My DS is 10 so we entertain frogs regularly.

Thanks for the compliment!

 

[LisaS]

If you do have to cancel a reservation, be sure to do so at least 31 days prior to check in. If you cancel 30 days or less from check in, your points go into "holding". Points in "holding" cannot be banked and can only be used for stays booked 60 days or less in advance. If you cancel on your check-in day, all points used for the reservation are forfeited.

 

[barlitz]

I've read through the thread and I have a question.

We have 300 pts from our Oct 06 UY, We will be using 71 pts for a getaway in a few weeks that will leave us 229 pts. I know I have to bank or use them by 3/31. We are planning a trip for 4/08 which we will book in 5/07 which will require 315 pts. So I'm assuming they'll use my 06 banked points first towards the 315 needed. I think I've got this figured out but to make it more confusing I'll need to bank the remainder of my Oct 07 UY points by 3/31 08 which will actually be before we travel in 4/08. Add to all this 150 pts AKV Oct 07 UY.
We usually travel 2 to 3 times a year but our vacations are already planned this year, we are going on a cruise 4/08 and we usually spend our summers on Cape Cod. We may try another visit in June of this year and Oct of this year. But if not we will have a lot of banked points!!!! It sounds like we have alot of points but trust me we'll use em
This banking and borrowing is almost as confusing as the NEC book.(National Electric Code)

I think I've answered my own question?