banking/borrowing question

[tink'smom2B]

We have a December use year (just purchased a resale). We have 150 points banked from 2003 and 150 points coming in Dec. 2004. For a vacation at Easter next year, can we borrow the points that will be available Dec. 2005? What will happen if we have to cancel at the last minute?

 

[todsue99]

Yes you can. You can use your borrowed 2003 points for next easter. The current points from 2004(they will be current at easter). And borrow 2005 points for a total of 450 points.

If you cancel your trip and borrow points from 2005 they can not go back to 2005 they are considered 2004 points now and must be used by the end of Nov 2005.

You can bank your 2004 point into 2005 though. That means if you use borrowed points from 2005 and you take some days off your trip or cancel you can bank your 2004 points into 2005. The only thing with that is they can not be banked again.

I hope this makes sense. If you have any other questions fire away.

 

[tink'smom2B]

Thanks! Now, what happens to the 2003 points? They now have to be used up in 2005 or are lost? Do I have until Dec. 2005 to use them?

 

[tjkraz]

Originally posted by tink'smom2B
Thanks! Now, what happens to the 2003 points? They now have to be used up in 2005 or are lost? Do I have until Dec. 2005 to use them?

First, you might want to double-check the status of the 2003 points. The Dec 2003 points are good from 12/1/03 to 11/30/04. You have until 5/31/04 to be able to bank all of those points. Since we are still early in that Use Year, I'd suggest double-checking that they really have been banked forward at this point.

To answer your question, once those points have been banked, they become 2004 points. They are valid from 12/1/04 to 11/30/05. If you do not use them by 11/30/05, they are forfeit.

Good luck.

 

[PamOKW]

Originally posted by tjkraz
First, you might want to double-check the status of the 2003 points.

I strongly suggest you heed this advice and get the status of the points straight at the outset. If December 2003 points were truly banked, they can't be used until December 1, 2004 and must be used by November 30, 2005. These points could be used for an Easter 2005 trip. You will also be getting 150 points on December 1, 2004 that can be used for Easter 2005. If 300 points are not enough, you may borrow additional points from your December 1, 2005 allotment.

The points banked from 2003 and the points borrowed from 2005 will all have to be used by November 30, 2005. If you had to cancel the trip, and did so 31 days or more ahead of check-in, the December 2004 would be available for banking and you could bank up to 100% of them by May 31.

 

[CarolMN]

If you borrow 2005 use year points, they become good for a stay between 12/1/2004 and 11/30 2005. Thus they would be good for your Easter 2005 trip. However, keep in mind that once borrowed, those points cannot be returned to the 2005 use year. If you do not use them by 11/20/2005, they will expire and be lost.



December use years can be a little tricky to keep track of - especially for new members. Make yourself a chart like this:

2003 use year points are good for stays between 12/1/2003 and 11/30/2004.

2004 use year points are good for stays between 12/1/2004 and 11/30/2005.

2005 use year points are good for stays between 12/1/2005 and 11/30/2006.

2006 use year points are good for stays between 12/1/2006 and 11/30/2007.

etc.


You can bank points into the following use year. For example, you may bank your 2003 points and then they are good for stays that occur during your 2004 use year.

You can borrow points from the next use year. For example, you can borrow 2005 use year points into your 2004 use year and then they are good for stays that occur between 12/1/2004 and 11/30/2005.

Banking and borrowing are "final" transactions. Once banked or borrowed, a point cannot be returned to its original use year and the banked or borrowed points expire at the end of the year into which they were banked or borrowed.

HTH. Ask more questions if you need more examples or additional information.

 

[tink'smom2B]

Another question........I have seen some resales that state points cannot be used for villa reservations. How does this happen? If you use your points for certain reservations (hotel, cruise, or out of villa use) are you only allowed to use them again for that purpose? Can they be used for anything if you have to cancel your reservation? So much to remember!

 

[PamOKW]

Tinksmom -- you catch on fast! If you use your points to reserve a DVC resort and then cancel, they can be used for any of the options, either DVC resort, cruise, concierge etc.

If you make a reservation for a non-DVC option, they become what they call "reservation points". If you cancel they can be used for any option EXCEPT a stay at a DVC resort. They also can no longer be banked.

There are other "fine points" you will learn about. These include that you cannot make a non-DVC resort reservation during the last 60 days of your Use Year. You could travel during this time period, but the reservation has to be made prior to then. (This allows DVC time to rent out the points you give up for cash to pay for your non-DVC option.) Also, if you cancel a trip within 30 days of check-in, you can only make a new reservation 60 days or less before travel.

 

[CarolMN]

I remember "the rules" about reservation points by thinking about how a non-DVC option is paid for.

If you use your points to take advantage of any of the options in the Disney Collection (non-DVC WDW resort hotels and the DCL), the Adventurer's Collection or the Conceirge Collection, DVC must send cash to those places to pay for it. DVC gets the cash by renting out the equivalent number of "point nights" in a DVC resort. Once they've done that, you can't use those same points to reserve a DVC room because the "space" is gone. If DVC allowed you to cancel an option in one of those collections and then reserve a DVC room, - well you can see it would throw the system out of whack, so to speak! They can't rent the same rooms twice for the same time!

Therefore, once you opt to "take the points out of the DVC system" for the Collections mentioned above, you can only use them "out of the system". You can move between any of the non-DVC options listed, though, because if you cancel, DVC still has the cash to apply to your choice.

The Member Getaways (trade via Interval International) works in a similar manner except that once you accept a MG option, you can't use the points for anything in any other program except a MG. That's because when you accept a trade, DVC "deposits" an equivalent week into the II system. That week probably disappears very quickly. In any event, DVC can't take the deposited week back.

You can't cancel a Member Getaway and use the points for anything else outside of DVC because DVC didn't get any cash for the "deposit" (it was a trade of time).

HTH a little.

Best wishes -