Banking points...confused...how does it work exactly?

[bangzoom6877]

How exactly does banking your points work? Let's say your use year is June. It's now June 1, 2009. By when would you have to bank the points in order to use them for summer 2010? How does this all work? It is so confusing to me!!!

We are looking into buying a resale of 150 points at BWV (preferably). The idea is to go every other year on 300 points, so we would bank 150 for use the following year. In the summer, we would be able to get a one-bedroom at BWV for just under 300 points for 10 nights, which is the length we would like to stay since we drive all the way from NYC. We always vacation in either July or August, so our first trip would be July 2010. So we plan to buy some time next Spring hopefully. I am trying to figure out exactly what to look for though. I would prefer a use year of either March, April, May, or June.

How could we set this up correctly?

 

[Mamiamjo]

How exactly does banking your points work? Let's say your use year is June. It's now June 1, 2009. By when would you have to bank the points in order to use them for summer 2010? How does this all work? It is so confusing to me!!!

We are looking into buying a resale of 150 points at BWV (preferably). The idea is to go every other year on 300 points, so we would bank 150 for use the following year. In the summer, we would be able to get a one-bedroom at BWV for just under 300 points for 10 nights, which is the length we would like to stay since we drive all the way from NYC. We always vacation in either July or August, so our first trip would be July 2010. So we plan to buy some time next Spring hopefully. I am trying to figure out exactly what to look for though. I would prefer a use year of either March, April, May, or June.

How could we set this up correctly?

You have 8 months to bank your points. You would have through January 31 2010 to bank your June 2009 UY points for use during your June '10 UY

 

[bangzoom6877]

Okay, now one more question. Let's say we get our points June 2009 (all 150). We decide to bank them and we do so in the summer 2009. Now we can use those points for any time during the following year (June 1, 2010-May31, 2011)? Meaning, if we bank them this way, then we would have 300 points to use for our July 2010 vacation, correct?

 

[Mamiamjo]

Yes, That's It

 

[Caskbill]

Sometimes it's helpful to make yourself a use year chart. A June chart looks like this:

[b]UseYear   Vacation Dates                        Banking Deadline[/b]
2008     June 1, 2008 through May 31, 2009        Jan 31, 2009
2009     June 1, 2009 through May 31, 2010        Jan 31, 2010
2010     June 1, 2010 through May 31, 2011        Jan 31, 2011
2011     June 1, 2011 through May 31, 2012        Jan 31, 2012

and so on.

You can bank points from any use year into the following year. You can borrow points from any year into the preceeding year.

You may only bank or borrow points into the adjacent use year. You cannot, for example, bank points more than one time. That is, you cannot bank 2009 points into 2010, and then a year later, bank those same points into 2011.

 

[bangzoom6877]

Sometimes it's helpful to make yourself a use year chart. A June chart looks like this:

[b]UseYear   Vacation Dates                        Banking Deadline[/b]
2008     June 1, 2008 through May 31, 2009        Jan 31, 2009
2009     June 1, 2009 through May 31, 2010        Jan 31, 2010
2010     June 1, 2010 through May 31, 2011        Jan 31, 2011
2011     June 1, 2011 through May 31, 2012        Jan 31, 2012

and so on.

You can bank points from any use year into the following year. You can borrow points from any year into the preceeding year.

You may only bank or borrow points into the adjacent use year. You cannot, for example, bank points more than one time. That is, you cannot bank 2009 points into 2010, and then a year later, bank those same points into 2011.

Yes, I knew that you could only bank points once. And you can bank or borrow any amount you choose, correct? One other question about banking one time...what if I have a 150-point contract and decide to bank 50 points. Say I have a June use year and I bank them in August 2011 to use in 2012. Could I bank any of the remaining 100 points, provided that I do it before the January 31, 2012 deadline? Or only one time in the year and bank any amount you like to from your allotment? Same with borrowing?

 

[Chuck S]

You can bank points as many times as you wish, up to your bankig deadline. Yes, you could bank 50 points, and then bank 100 later one, as long as you do so within your banking window.

 

[dianeschlicht]

Just remember to use any banked points up the following year. In other words, if you bank 150 from this year, make sure you sue at least 150 in the next year.

 

[bangzoom6877]

Just remember to use any banked points up the following year. In other words, if you bank 150 from this year, make sure you sue at least 150 in the next year.

Yes, I am aware that they would disappear after the year following the banking. The idea for us is to purchase 150 at BWV, use 294 every other year to stay 10 days in the summer in a one-bedroom. That is the most appealing way to do this, for us. When the kids are grown up (they are only 3 and 1 now!), and we go ourselves, we could stay in a studio and go more often or stay much longer (we're off the whole summer...teachers here!). And when we retire, we would still have 10 years left on the BWV (IF we decide to purchase this, still not 100% sure), and could travel twice a year in the off season and stay 10 days each time. We've already looked into that! Just trying to weigh all our options and figure out how many points would be best and at which home resort. Right now the consensus between the 2 of us is 150 at BWV.