Banking points explained?

[lenshanem]

I'm sitting here trying to add up how many points we would use a year right now. If we have a few extra points leftover each year can we carry them over into the following year?
Is there a minimum amount of points you can carry over and is there a deadline as to when you have to do it? (Say your use year is December?)
Can this be done several years in a row?

What about borrowing?
Minimum amount of points you have to borrow or can it even be as little as a few?

Thanks!

 

[RobDoc]

With a Dec Use Year, you have until May 31 to bank up to 100% of your points, until Aug 31 to bank up to 50% of the points and until Sep 31 to bank up to 25% of your points. Banked points MUST be used by the end of the next Use Year and may not be transferred or rebanked.

The banking allowances are based on the total points in the contract, not on the remaining points. Thus, if you have banked 50% or more by May 31, you won't ba able to bank any more at a later date- since you will have already met the 50% total to bank.

Borrowing can only be done while actually making a reservation and there is no minimum. You can borrow from the Use Year following the dates of the reservation. By banking all of this year's points and borrowing all of the following year's points it would be possible to have 300% of your points available for a reservation during next Use Year.

Once banked or borrowed, points cannot be returned to their original Use Year. They must be used during the year into they were moved or are lost.

Enjoy!

 

[lenshanem]

Thanks! So if I have say 3 points left over extra I can then bank them into the next year or does it have to be a full 25% of my total purchased points?
Then that following year I can apply those 3 banked points to a ressie? Then if I end up with extra points again I can then bank those into the next following year?

I guess I'm saying that right now our needs while the kids are still little and in school will cause us to possibly have a few extra points each year. So each year we could bank whatever points we have leftover to be used on the first ressie we make for that next new year?

Wow, I think I confused myself!

 

[Dean]

Originally posted by lenshanem
Thanks! So if I have say 3 points left over extra I can then bank them into the next year or does it have to be a full 25% of my total purchased points?
Then that following year I can apply those 3 banked points to a ressie? Then if I end up with extra points again I can then bank those into the next following year?

I guess I'm saying that right now our needs while the kids are still little and in school will cause us to possibly have a few extra points each year. So each year we could bank whatever points we have leftover to be used on the first ressie we make for that next new year?

Wow, I think I confused myself!

You can bank as few or many points as you have in as many increments as you want. No charges, no fuss. The only issues are the banking windows. You must bank by 6 months and a day to bank 100%, 4-6 months for 50% and 2 months for 25%. This is inclusive so if you bank 50 % in the first 6 months then after the 100% banking window passes you want to bank some more, no way. This is the reason the use year can be important if you need to change or cancel.