Banking points at beginning of contract

[acummings81]

My husband and I just joined DVC with 160 points at AKL with a use year of Dec. We received a set of 160 points from Dec 2012 which we'd like to bank to use on a vacation in Oct 2014 as I am currently deployed and won't be home in time to use any during 2013. I am very confused when I try to read the DVC website regarding banking points and use, etc... As I understand it, we can bank the 160 points from UY 2012 to UY 2013 (which would run from ?Dec 1, 2013-Nov 30, 2014) thus making them available for Oct 2014, I hope. Does this also mean that we should bank any UY 2013 points that we don't use for the Oct 2014 trip by July or do we just bank them all and borrow from UY 2014 to use for the Oct trip. I'm sorry if this is a confusing question, obviously I need to start thinking use years and banking/borrowing more often. Thanks for the advice!

 

[abner1776]

Think of it this way...you can't bank something you don't have and until December 2013 arrives you don't have the 2013 points so there is no need to bank them now and I do not believe you could bank them even if you wanted to.

On the other hand, you have the 2012 points now and unless you use them by December 2013, they will go "poof" just like Cinderallas coach. So now is the time to bank the 2012 points so you can use them next year.

Say you were planning a big trip in Oct 2014 that would require 480 points, then you would bank your 2012 points into 2013 and borrow your 2014 points which would give you (3 x 160) or 480 points.

 

[DebbieB]

My husband and I just joined DVC with 160 points at AKL with a use year of Dec. We received a set of 160 points from Dec 2012 which we'd like to bank to use on a vacation in Oct 2014 as I am currently deployed and won't be home in time to use any during 2013. I am very confused when I try to read the DVC website regarding banking points and use, etc... As I understand it, we can bank the 160 points from UY 2012 to UY 2013 (which would run from ?Dec 1, 2013-Nov 30, 2014) thus making them available for Oct 2014, I hope. Does this also mean that we should bank any UY 2013 points that we don't use for the Oct 2014 trip by July or do we just bank them all and borrow from UY 2014 to use for the Oct trip. I'm sorry if this is a confusing question, obviously I need to start thinking use years and banking/borrowing more often. Thanks for the advice!

It's easier if you write it out

2012 use year = 12/1/12 to 11/30/13
2013 use year = 12/1/13 to 11/30/14
2014 use year = 12/1/14 to 11/30/15

Oct 2014 trip would be in your 2013 use year. So you can used banked 2012, current 2013 & borrow 2014.

If you don't have any plans before 11/30/13, I would bank 2012 by 7/31/13. You should bank any remaining 2013 by 7/31/14. That's a tough question about banking all and borrowing because then the borrowed points will expire 11/30/14 if you cancel.

 

[acummings81]

It's easier if you write it out

2012 use year = 12/1/12 to 11/30/13
2013 use year = 12/1/13 to 11/30/14
2014 use year = 12/1/14 to 11/30/15

Oct 2014 trip would be in your 2013 use year. So you can used banked 2012, current 2013 & borrow 2014.

If you don't have any plans before 11/30/13, I would bank 2012 by 7/31/13. You should bank any remaining 2013 by 7/31/14. That's a tough question about banking all and borrowing because then the borrowed points will expire 11/30/14 if you cancel.

Ah, good point about the borrowed points expiring, I forgot about that. Once I write it out it does make more sense. I'm not sure exactly how many points we'll use for the Oct 2014 trip because we'll book at AKL 11 months out but then switch (hopefully) to something else closer to EPCOT at the 7 month mark. If we're wait listed somewhere how do we treat our points on July 31st? Do we keep them for a possible switch to a a potentially more expensive resort or do we bank them and use them only if we get to make the move?

 

[Donald_Quackers]

Ah, good point about the borrowed points expiring, I forgot about that. Once I write it out it does make more sense. I'm not sure exactly how many points we'll use for the Oct 2014 trip because we'll book at AKL 11 months out but then switch (hopefully) to something else closer to EPCOT at the 7 month mark. If we're wait listed somewhere how do we treat our points on July 31st? Do we keep them for a possible switch to a a potentially more expensive resort or do we bank them and use them only if we get to make the move?

If I'm not mistaken, once points are banked, they cannot be borrowed back into the use year they came from.

I'm sure someone will correct me if I'm wrong, but I'm pretty positive about this.

 

[abner1776]

Assuming you are banking your 2012 points, then you would use those points first when you book your Oct 2014 trip. If you need more than 160, then you would use your 2013 points next.

For Oct 2014 trip, you would be booking in Nov 2013 and then switching at 7 months in March 2014 to a different resort. At that time you would then determine how many more (or less) points you need and simply adjust your banked(2012) or current(2013) points accordingly. March 2014 is well before your banking deadline for your 2013 points so you would not have an issue of losing points.

 

[Deb & Bill]

If I'm not mistaken, once points are banked, they cannot be borrowed back into the use year they came from.

I'm sure someone will correct me if I'm wrong, but I'm pretty positive about this.

Correct, borrowing is a one way transaction. They cannot be unborrowed. Same with banking. They cannot be unbanked. The points now belong to the UY they were banked or borrowed into and expire at the end of that use year.

 

[NoleFan]

Correct, borrowing is a one way transaction. They cannot be unborrowed. Same with banking. They cannot be unbanked. The points now belong to the UY they were banked or borrowed into and expire at the end of that use year.

Are you only able to borrow once within a given UY ??

 

[vicki_c]

Are you only able to borrow once within a given UY ??

No.

 

[RobDoc]

Are you only able to borrow once within a given UY ??

Members are allowed to borrow only when actually making a reservation. You may borrow as many times as you need. Banking has the same policy, you can bank as many times as you'd like up until your banking deadline (the end of the 8th month of your Use Year).

As already noted, both banking and borrowing are final transactions. Once banked or borrowed, points cannot be moved back into their original Use Year and will expire at the end of the Use Year into which they were banked/borrowed.

When making a reservation MS will typically use any banked points before using points from the current Use Year. When reserving online you will have the option to use the banked points first - so be sure that is done.

Enjoy!

 

[NoleFan]

Members are allowed to borrow only when actually making a reservation. You may borrow as many times as you need. Banking has the same policy, you can bank as many times as you'd like up until your banking deadline (the end of the 8th month of your Use Year).

As already noted, both banking and borrowing are final transactions. Once banked or borrowed, points cannot be moved back into their original Use Year and will expire at the end of the Use Year into which they were banked/borrowed.

When making a reservation MS will typically use any banked points before using points from the current Use Year. When reserving online you will have the option to use the banked points first - so be sure that is done.

Enjoy!

Thanks, very helpful.