Banking points and expirey dates

[Kurby]

wow i seem to be full of questions the last few days but once i read a post i get a bunch of questions - some answered in th OP's post some not but instead of hijacking the post i just start a new thread

ok - so i have 160 (well not yet but here's the senario) for 2007. we use 149 points and have 11 left over after an October trip. lets be simple and say January 1 is when we purchased them so now what happens?

do we have to bank them ourselves or is it automatic?

if we don't bank them they expire on December 31, 2007? if we do bank them they expire Dec 31, 2008?

now lets say we do bank them and on Jan 1, 2008 we get another 160 making a total of 171 points. Now it's May 2008 and we use 151 points - leaving a balance of 20 points.

is the 11 we banked used first to "pay" for our may 08 trip or do we have to specifically say use the banked points first or do you have to make separate restorations for the banked points?

it's not like a bank account where you just have a total deposits and withdrawals is what i'm getting at

 

[JimMIA]

Okay...baby steps...

First of all -- Use Year. Your Use Year is that period during which your points are valid (which, incidentally, has nothing to do with when you purchase DVC). Generally, we express UY as a month -- for example, my UY is October. You receive your annual point allocation on the first day of that month and they expire 12 months later. So my points are valid from October 1 until the following September 30.

There are two things you can do to move points from one UY to another, and both are irreversible transactions. Once you exercise one of these options, you CAN'T undo it.

Banking is moving your points from the current UY to the following UY. You can do that according to the following schedule:

First six months -- up to 100% of your annual allotment of points can be banked to the following UY.

End of 9th month -- up to 50% of your annual allotment*

End of 10th month -- up to 25% of your annual allotment*

Last two months -- no banking allowed.

* These amounts are cumulative, so if you bank 60% of your points in the first six months, you can't do any further banking.

Banking does NOT occur automatically. You have to either call MS and bank your points or bank online on the member website.

Borrowing is moving your points from next UY to this UY. Borrowing can occur at any time, but it only occurs when you make a ressie that you don't have enough current UY points to cover. The needed points are automatically borrowed to complete your ressie -- and they cannot be put back. That means that if you cancel a ressie which used borrowed points, you either have to use those points during this UY or you're going to lose them.

You can bank or borrow as often as you like (subject to the banking deadlines above), but you can only bank or borrow one year's allocation of points total.

 

[dianeschlicht]

You need to go back to the last question I answered. I addressed USE YEAR there. WHEN you buy has NOTHING to do with USE YEAR. You will be assigned or be allowed to choose your use year (depending on which resort you buy), and THAT is what determins banking. Your USE YEAR determins WHEN you can bank and how much.

Now study Jim's response again, and also go back and read my response and the others from your earlier thread.

 

[RobDoc]

...
ok - so i have 160 (well not yet but here's the senario) for 2007. we use 149 points and have 11 left over after an October trip. lets be simple and say January 1 is when we purchased them so now what happens?

do we have to bank them ourselves or is it automatic?

if we don't bank them they expire on December 31, 2007? if we do bank them they expire Dec 31, 2008?

now lets say we do bank them and on Jan 1, 2008 we get another 160 making a total of 171 points. Now it's May 2008 and we use 151 points - leaving a balance of 20 points.

is the 11 we banked used first to "pay" for our may 08 trip or do we have to specifically say use the banked points first or do you have to make separate restorations for the banked points?

it's not like a bank account where you just have a total deposits and withdrawals is what i'm getting at

To begin with, there is no January (or May or July or November) Use Year, so let's use February for your example. You would have 2007 points good until January 31, 2008 unless they are used (like for a trip in October) - or banked. Otherwise they will expire in January 31, 2008.

If the extra points were banked, they then are good thru January 31, 2009. If you will be taking a trip in 2008, MS should be instructed to use the banked points first. They will usually do that on their own, but it is still the responsibility of the member to follow the points in their account and direct MS how you would like them used.

It is like a bank account as points are "deposited" and "debited" from the account with every transaction (reservation) - BUT - unlike a bank account, there are some rules regarding when points may be banked and that they will expire if not used by the end of the appropriate Use Year.

In addition, there are other rules regarding cancellation of a reservation that may come into play that must also be understood. MS will go over each of these issues when making reservations, but they are often misunderstood aspects. If points were used for non-DVC options, cancellations with have additional restrictions - so be sure those aspects are familiar also.

All of these issues are included in the Member guidebook including banking deadlines, cancellation restrictions and borrowing rules - but IMO, it is important to have an understanding how the system works and what aspects could impact my enjoyment of the program.

 

[Kurby]

it is important to have an understanding how the system works and what aspects could impact my enjoyment of the program.

exactly - that's why i've been spending the last week either on the phone with DVC or here reading and rereading posts to make sure I understand everything so that i can explain it to my husband - if i don't get it i won't explain it right and we'll all be totally confused.

now that makes sense and I think you all for helping me understand how not only banking works but all my other questions.

hope i'm not making a pest of myself. - it's all confusing in the beginning but i'm sure i'll become a real pro by next year.

 

[LisaS]

Here is a link to a website set up by a DISboard member when he first joined DVC. It contains a lot of the basic info on Use Year, banking, borrowing, etc.: http://members.cox.net/disneyvacationclub/

 

[pgrill]

I have read everything I could find on UY and there is still something I don't understand.

I just bought a small contract for BW with a December UY. I know I need more points and I plan on getting them in the near future, but here is my question. With a December UY, does that mean I won't have any points to use until December 1, 2007? If I want to plan a trip for June, 2008 can I use these points then? Can I borrow my 2008 points to use for this trip? How many years ahead can you borrow?

Sorry if these seem like silly questions, but I am a little confused and know that there is someone here that can help.
Thanks!!

 

[Figment2]

Previous owner would have received points on 12/1/2006 (we with Dec. use years are still in our 06 year). Did the previous owner use all the points between Dec. 1 2006 and date of sale? Member services should be able to tell you if you have any 06 points left. If you are not planning any trips until after December 1, 2007, you should bank the current year's allocation. For a June 2008 trip, you can use any 2006 points banked into 2007, 2007 points and borrow from Dec. 2008 points.

Cyn

 

[CarolMN]

...(snip).....hope i'm not making a pest of myself. - it's all confusing in the beginning but i'm sure i'll become a real pro by next year.

You are NOT a pest. We're glad you are asking and trying to understand before you buy. DVC is not for everyone and it's important that you make an informed decision.

I don't think it will take year for you to become a pro, LOL. Someday soon, you will be answering questions instead of asking them!

.. (snip)...Sorry if these seem like silly questions, but I am a little confused and know that there is someone here that can help.
Thanks!!

They are not silly questions. It's only silly if you don't ask and make a bad decision, so it's good that you ask. The DIS DVC Boards have quite a few "lurkers" (who are very welcome to post whenever they're ready to do so) and I bet there are many out there who don't know and are glad you asked.

 

[dianeschlicht]

exactly - that's why i've been spending the last week either on the phone with DVC or here reading and rereading posts to make sure I understand everything so that i can explain it to my husband - if i don't get it i won't explain it right and we'll all be totally confused.

now that makes sense and I think you all for helping me understand how not only banking works but all my other questions.

hope i'm not making a pest of myself. - it's all confusing in the beginning but i'm sure i'll become a real pro by next year.

You are not a pest at all. I think sometimes each of us says things in a different way, and sometimes ONE of those things seems to work for one person and another works for someone else. It takes a while for it all to click sometimes. I think use year and when to bank and make reservations is one of the things that is confusing about DVC, and Use year is what makes it confusing. It would be all too simple if it went by calendar year, but it really can't be that way in this kind of system. When you quit asking questions, we'll know you "have it"!

 

[Kurby]

i think it's making it easier to think of it as a physical year rather then a use year. i used to work in the finance department in my old company LOL took a while to get used to an April year end but most companies work that way.

far be it for disney to make it easy eh LOL - all this banking and borrowing - why wouldn't they just say you could bank a max of 1 years points and they don't expire - that way if you had purchased 160 points the max you could have in your "bank" would be 320 at any given time without having them expire.

 

[pgrill]

Previous owner would have received points on 12/1/2006 (we with Dec. use years are still in our 06 year). Did the previous owner use all the points between Dec. 1 2006 and date of sale? Member services should be able to tell you if you have any 06 points left. If you are not planning any trips until after December 1, 2007, you should bank the current year's allocation. For a June 2008 trip, you can use any 2006 points banked into 2007, 2007 points and borrow from Dec. 2008 points.

Cyn

I am still confused. I know that I don't have any 2006 points left, so I can't book a trip before December 1 if I have a December UY right? Why would I have to bank those points to plan a trip after December 1, 2007 as you said? I thought the points that I get on Dec 1, 2007 are good through Nov 30, 2008. So if I want to book a June 2008 trip, those points would be available without banking, right? If however I need more than those points for my ressie I could borrow my Dec 1, 2008 points to use in June of 2008. Do I have that right?

My next question is, how do I use my 11 month window? I would be able to book my June 2008 trip in July 2007 but I don't get my points until Dec 2007. Did you mean that I could bank my 2007 points into 2008 so I could book in July? Would I then be able to borrow my 2008 points which are really available for 2009 into my 2008 year? I really want to make my ressie in July at the 11 month window and try for a standard view.

I think the thing that is confusing me is that I don't get my points until the end of the calendar year so my 2007 points are really for use in 2008 and so on.

I hope I don't regret the Dec UY. Are there any of you Dec UYs out there that can set my mind at ease? Has it worked well for you and is it easier to get used to as you begin to use it?

As I reread my question it seems so jumbled that I wouldn't blame any of you if you chose not to answer. Any brave takers out there or am I just too confused to help?

 

[CarolMN]

I am still confused. I know that I don't have any 2006 points left, so I can't book a trip before December 1 if I have a December UY right?

You can still take a trip that would occur before 12/1/07 even if all of your 2006 use year points are gone. For that trip, you would just borrow points from those you will receive on 12/1/2007.

You can call to make the reservation up to 11 months prior to check out for your home resort or up to 7 months prior if you are planning to stay at a non-home resort.

Why would I have to bank those points to plan a trip after December 1, 2007 as you said?

It looks like Figment thought you still had 2006 use year points left. If you did, then you would have to bank them to use them for a trip after 12/1/2007.

I thought the points that I get on Dec 1, 2007 are good through Nov 30, 2008. So if I want to book a June 2008 trip, those points would be available without banking, right? If however I need more than those points for my ressie I could borrow my Dec 1, 2008 points to use in June of 2008. Do I have that right?

Yes you do - exactly right!

My next question is, how do I use my 11 month window? I would be able to book my June 2008 trip in July 2007 but I don't get my points until Dec 2007.

Yes, you may book that June 2008 trip in July of 2007. As you said, the June 2008 trip falls within your 2007 use year and you will have 2007 points available to use for that trip. You do NOT have to wait until after 12/1/2007 to make the reservation.

Did you mean that I could bank my 2007 points into 2008 so I could book in July? Would I then be able to borrow my 2008 points which are really available for 2009 into my 2008 year? I really want to make my ressie in July at the 11 month window and try for a standard view.

No, this is not right

I think the thing that is confusing me is that I don't get my points until the end of the calendar year so my 2007 points are really for use in 2008 and so on.

December use years are often confusing for new members. It is helpful to make your self a chart like this until it becomes second nature to you:

2006 use year points are good for vacations that occur between 12/1/2006 and 11/30/2007.
2007 use year points are good for vacations that occur between 12/1/2007 and 11/30/2008.
2008 use year points are good for vacations that occur between 12/1/2008 and 11/30/2009.
2009 use year points are good for vacations that occur between 12/1/2009 and 11/30/2010.
etc.

Then figure out which use year your vacation dates fall into and that will be the "pot" of points you will use.

If your "pot" isn't big enough, then you can borrow points from the next use year or if you plan ahead, you can bank points into that year from the previous year.

So for your June 2008 vacation, we see that it falls within your 2007 use year. The points you get on 12/1/2007 are "current use year" points for that vacation. To get more points into that use year, you could have banked points from 2006 (subject to the bankig rules). Then the 2006 points become good for vacation that fall within the 2007 use year. You can also borrow points from the 2008 use year to get more points into 2007.

Banking and borrowing are "final" transactions. They cannot be undone.

I hope I don't regret the Dec UY. Are there any of you Dec UYs out there that can set my mind at ease? Has it worked well for you and is it easier to get used to as you begin to use it?

You'll be fine - don't worry. It will just take a little time and effort (because you have to forget about calendar year) until you feel comfortable with it.

As I reread my question it seems so jumbled that I wouldn't blame any of you if you chose not to answer. Any brave takers out there or am I just too confused to help?

Keep asking if you need more explanations - we're here to help.

 

[dianeschlicht]

I am still confused. I know that I don't have any 2006 points left, so I can't book a trip before December 1 if I have a December UY right? Why would I have to bank those points to plan a trip after December 1, 2007 as you said? I thought the points that I get on Dec 1, 2007 are good through Nov 30, 2008. So if I want to book a June 2008 trip, those points would be available without banking, right? If however I need more than those points for my ressie I could borrow my Dec 1, 2008 points to use in June of 2008. Do I have that right? You pretty much have that part right.
My next question is, how do I use my 11 month window? I would be able to book my June 2008 trip in July 2007 but I don't get my points until Dec 2007. Did you mean that I could bank my 2007 points into 2008 so I could book in July? Would I then be able to borrow my 2008 points which are really available for 2009 into my 2008 year? I really want to make my ressie in July at the 11 month window and try for a standard view. You can ALWAYS book 11 months from the check out date. As long as the reservations are occuring during your Dec. '07 use year, the points will be taken from that use year automatically, even though you are making the reservation before that use year starts. MS tracks points and ressies by use year. If you need additional points to make that June ressie, they will borrow them from your '08 use year. I hope that clarifies it a little.
I think the thing that is confusing me is that I don't get my points until the end of the calendar year so my 2007 points are really for use in 2008 and so on. Yes, that is a confusing use year to have.

I hope I don't regret the Dec UY. Are there any of you Dec UYs out there that can set my mind at ease? Has it worked well for you and is it easier to get used to as you begin to use it?

As I reread my question it seems so jumbled that I wouldn't blame any of you if you chose not to answer. Any brave takers out there or am I just too confused to help?

I'm going to put my answers in the body of your quote for ease of answering.

 

[castleri]

pgrill
If you are in the system and can go to the members website it will also spell out how many points you have available for each of the functions, reservations, banking, borrowing etc. For example when I look at one of my contracts it tells me I have none available to bank for 2006, 33 available for reservations because I borrowed and then cancelled and that they will be good until July 31, 2007 and that I have 130 left in my 2007 UY and 220 available from 2008. It also tells me what day I can make reservations using my 11 month window at my home resort and when I will be able to book at the 7 month window. It took me awhile to sort it all out but I now find it a helpful tool. As others have said the best thing you can do to ask all the questions you can think of now. The better you understand how it works the less chance you will have of being upset and disappointed if things don't work out the way you thought they should. The bottom line is you can book 11 months from the check out day at your home resort if you have points that will fall into the year that you are making the reservation and at any other resort at the 7 month day from check out. One of the things that seems to be brought up over and over is that there are rooms available for cash but not for points and someone is irate that they can't get a room on points. If they had understood the fact that there are two inventories to begin with it should have been a non issue. There are simply some rooms that do not belong to the DVC inventory and therefore are not available for point stays. Understanding how you can best use and maximize your BWV contract is another example. You will be able to plan and bank or borrow where you have to and have many happy DVC trips in the years to come. Keep asking questions until you are comfortable that you understand the way it works.

 

[pgrill]

Thanks so much to CarolMN, dianeschlicht, and casterli for your great explanations! I think I have a pretty good handle on things thanks to you. I can't wait for July so I can book my trip!!