banking ???

[murcor]

I had 300 points June 2007 use year originally, used 194, have 106 left, which is only 35% of the points. Does that mean that all remaining 106 pts can be banked.

Banking deadline for 100% of points was Nov 08
Banking deadline for 50% of points is Feb 09

Does that make sense?

Thanks in advance
Angela

 

[JimMIA]

I had 300 points June 2007 use year originally, used 194, have 106 left, which is only 35% of the points. Does that mean that all remaining 106 pts can be banked.

Banking deadline for 100% of points was Nov 08
Banking deadline for 50% of points is Feb 09

Does that make sense?

Thanks in advance
Angela

Boy, are you confused!!!

For your June 2007 UY, your 100% banking deadline was Nov 30, 2007...NOT 2008.

You are currently within your 50% banking period until the end of December.

But if I understand the recent change correctly, on Jan 1, 2008, magic occurs and you return to your 100% banking opportunity through the end of January, which is the 8th month of your UY.

From Feb 1 - May 30, 2008 no banking...unless I'm confused by this transitional period, which is quite possible.

On May 30, 2008, any unused and unbanked 2007 points expire.

However, I'm sure you can bank all of your remaining points this month.

 

[RobDoc]

As Jim stated, you can still bank your remaining points since you are still in your 50% banking window under the current banking policy. On January 1, 2008 you will still be able to bank up to 100% of your points since on that date the new banking policy goes into effect. Under the new policy you will be able to bank points thru 8 months of your Use Year - January 31 each year. No points may be banked during the last 4 months of the Use Year so any points not banked by the end of January must be used for a reservation or transferred by May 31 each year.

 

[murcor]

Thanks to both of you! It is clear to me now

 

[JimMIA]

As Doc said, on January 1, 2008, there is a major change in the banking deadlines, so in future years, your deadlines will be different.

For your June 2008 UY, you will be able to bank 100% of your points through the end of January 2009, but nothing after that.

Keep in mind that any 2007 points you bank into 2008 will have to be used during the June 1, 2008 - May 30, 2009 period. You cannot re-bank those points, so if they are not used, they will expire on May 30, 2009.

 

[DIZBOUND]

I have a related question. We also have a June UY and we banked our remaining points at the beginning of Nov. At that time we did not have a vacation planned for Easter, we now do. SO my question is, since I have no points left for 2007 I am assuming that when the vacation in March takes place they will borrow from 2008. Now would they borrow the banked points? Or do the banked points need to be used for a vacation taken in my 2008 UY?

 

[RobDoc]

No - banked points cannot be returned to their original Use Year. For a stay prior to your 2008 Use Year, they will now borrow points from your 2008 Use Year. The points already banked from your 2007 Use Year will be used for a stay between 6/1/08 and 5/31/09.

Banking and borrowing are irreversible transactions - so if you should need to cancel the reservation made using the '08 points, they would still need to be used by May 31, 2008 or they will expire.