Banking Points - A question

[MNRMommy]

I have heard that there is a limit on how many points you can bank. I tried to find this information on the member website but it only says that you can bank not how much you can bank. I am planning on taking some family members in a couple of years and was going to book two years worth to cover the larger room. Can this be done?

 

[CarolMN]

You may bank 100% of your currrent use year points to the next use year (CY+1) provided you bank before the 100% deadline. Once banked, those points must be used by the end of CY+1 or you lose them. To get 3 year's worth of points, you'd have to borrow from the subsequent year, CY+2.

For example - let's say you have 200 points with February use year. As long as you do it before July 31, you can bank all 200 of the 2002 use year points into the 2003 use year. You have 400 points to use between 2/1/2003 and 1/31/2004. The banked points MUST be used by January 31, 2004 or you will lose them.

If you want 3 year's worth of points in the 2003 use year, you can borrow 2004 pointsin to the 2003 use year. Now you have 600 points to use between 2/1/2003 and 1/31/2004 . Both the borrowed and banked points must be used by January 31, 2004 or you lose them.

You cannot have more than 3 year's worth of points to use in any one use year.

 

[CarolMN]

Forgot to include the banking deadlines. They're on page 23 of the Member Guidebook if you have that handy.

You can bank up to 100 % of your current use year points as long as you do it by the end of the 6th month.

You can bank up to 50 % of your current use year points as long as you do it by the end of the 9th month.

You can bank up to 25 % of your current use year points as long as you do it by the end of the 10th month.

No banking is allowed the last two months of your use year.

Again using February as the example:

100% by July 31
50% by October 31
25% November 30
No banking December 1 - January 31

The percentages are cumulative. For example if you bank 100 of your 200 points in June (50)%, you cannot bank anymore points after July 31.

Hope that helps.

 

[MNRMommy]

This is just the information I needed. Thank you!

 

[BillPA]

Carol did an excellent job explaining the banking/borrowing rules.
I just wnted to add one point. The 50% and 25% banking deadlines need a little more explaining, you can only bank 50% TOTAL, using the same 200 point example, you can bank 100 points by Oct 31. BUT, if you had already banked, say 50 points prior, you can only bank an additional 50 points (100 total). Like wise with the 25% date, if you have allready banked 50 points or more, you can not bank additional. This got me my first year back in '93. I assumed I could bank an additional 50% at the 9 month date, and had already banked some points prior to that. So I was FORCED to make another trip. You do get a once in a life time banking exemption, to bank what ever amount of point you have. BUT ONLY ONCE, use it wisely.

 

[MNRMommy]

If I bank within the first one or two months of my use year I can bank 100% of my points right? Just making sure.

Thank you for the clarification on the 50 and 25% dates.

 

[BillPA]

you can bank 100% of your points anytime during the first 6 months of your use year. up to a total of 50% by the end of the 9th month and up to a total of 25% by the end of the 10th month.