Banking/Borrowing Question

[Corwin]

Hi! I think I understand how banking and borrowing works, but I wanted to double-check my understanding.

Suppose I wanted to extend my vacation by a day, but I have to borrow 20 points from the next use year. I then decide to cancel that extra day. Since borrowing is a final transaction, those 20 points cannot be returned to their original use year, right?

However, can I then go ahead and bank 20 points from the current use year into the next use year? This effectively cancels out the original borrowing, right?

The difference, as I understand it, is that if I then cancel the whole reservation, I will still have 20 borrowed points that must be used by the end of the use year, or they are lost. I also have 20 banked points that must be used in the next use year, or they are lost.

Do I have it right?

Thanks!

 

[chalee94]

Suppose I wanted to extend my vacation by a day, but I have to borrow 20 points from the next use year. I then decide to cancel that extra day. Since borrowing is a final transaction, those 20 points cannot be returned to their original use year, right?

yep - those borrowed pts are stuck.

However, can I then go ahead and bank 20 points from the current use year into the next use year? This effectively cancels out the original borrowing, right?

yep - except with fewer options. the borrowed pts are stuck as already stated and the banked pts cannot be banked again (while you could have banked the original pts had you not borrowed them).

The difference, as I understand it, is that if I then cancel the whole reservation, I will still have 20 borrowed points that must be used by the end of the use year, or they are lost. I also have 20 banked points that must be used in the next use year, or they are lost.

Do I have it right?

yep.

 

[Corwin]

Thanks!

 

[RobDoc]

Hi! I think I understand how banking and borrowing works, but I wanted to double-check my understanding.

Suppose I wanted to extend my vacation by a day, but I have to borrow 20 points from the next use year. I then decide to cancel that extra day. Since borrowing is a final transaction, those 20 points cannot be returned to their original use year, right?

However, can I then go ahead and bank 20 points from the current use year into the next use year? This effectively cancels out the original borrowing, right?

The difference, as I understand it, is that if I then cancel the whole reservation, I will still have 20 borrowed points that must be used by the end of the use year, or they are lost. I also have 20 banked points that must be used in the next use year, or they are lost.

Do I have it right?

Thanks!

The ability to bank the 20 points from the current Use Year will also depend on your banking deadline and would be affected by the dates of the reservation and when you would cancel. If it's cancelled in the last 4 months of your Use Year, current points could no longer be banked.

 

[islandtimect]

I'm confused. We borrowed points, made our ressie, changed the date by one day, then didn't need 24 pts. The 24 points we didn't need were returned to the current UY, and the CM made it sound like banking them later on wouldn't be an issue but can't remember why. On dvcmember website, these points are included in the total points available to be banked. I was happily surprised, but not sure how this happened.

 

[CarolMN]

I'm confused. We borrowed points, made our ressie, changed the date by one day, then didn't need 24 pts. The 24 points we didn't need were returned to the current UY, and the CM made it sound like banking them later on wouldn't be an issue but can't remember why. On dvcmember website, these points are included in the total points available to be banked. I was happily surprised, but not sure how this happened.

Fortunately for you, the CM made sure that the borrowed points were used on the portion of the reservation you kept.

So the points that were returned to your account were current use year points. Those points may be banked as long as you call to do it prior to your banking deadline.

Had the CM instead returned the borrowed points to your account, they would expire at the end of the current use year. You couldn't bank those again or transfer them to someone else. That CM "did you right"!

 

[islandtimect]

thanks Carolmn. just when i think i've got the rules figured out...i don't! but this worked in our favor so would rather be happy and confused than smart and mad.