Borrowing / Banking Questions

[jbdisneymom13]

We're in the process of buying a smaller resale contract right now and I have a few questions about the process of borrowing and banking points.

First, can you borrow points from the coming year at any point in time. For example, the contract we're buying is Sept UY so won't have any points available in 09 until then - can I borrow points in Aug to be able to go? Do you need to borrow the points before being allowed to make a reservation or can you wait until shortly before you go on the trip? I ask that because I know once they are borrowed they can't be put back.

Also, I thought I had read somewhere that you can only bank for the first 8 months of your UY. Is that correct? Are there any tips for borrowing and banking that you can share with me? We could only afford a small contract so we'll probably be combining points for each trip we take - going only every two years. Thanks!!

 

[CarolMN]

You can only borrow when you are actually making the reservation that will use the borrowed points. MS will do that for you.

There is no limit to the number of times that you can borrow (except you have to have points to borrow, of course, LOL).

Yes, the banking deadline is the end of the 8th month following your use year. So if you hve a September use year, you have to bank on or before the following April 30. There's no advantage to banking way ahead of time.

If you plan to use the points in the following use year, you do have to bank them before making the reervation. Again, MS will help you with that.

 

[chalee94]

First, can you borrow points from the coming year at any point in time. For example, the contract we're buying is Sept UY so won't have any points available in 09 until then - can I borrow points in Aug to be able to go? Do you need to borrow the points before being allowed to make a reservation or can you wait until shortly before you go on the trip?

(1st and foremost: please remember that UY month has nothing at all to do with when you can call to book.)

unlike banking, you don't just call up and borrow pts. you only borrow pts at the time you actually make a reservation.

so if you have a contract with no pts in the 2008 UY as in your example, the earliest you could book anything would be to call in october 2007 to book a reservation for september 2008 using pts borrowed from your 2009 UY. so in your example, certainly you could call right now and book august 2009 if it is available. (you are correct that borrowed pts cannot be put back, so definitely don't call to make the reservation until you are pretty sure about it.)

Also, I thought I had read somewhere that you can only bank for the first 8 months of your UY. Is that correct?

yes. if you don't bank your pts within the first 8 months of your UY, they will expire at the end of that UY unless you use them for a reservation before that time (you can rent them or use them yourself.)

 

[Sandisw]

Yes, you can book at trip for August 09 and use borrowed points from your Sept 09 UY. You do not have to have the points available when you make the reservation, only that they will be there for the trip.

MS, when you call, will borrow what you need. As you said, once you do this, they can not be put back.


Points do have to be banked during the 1st 8 months of your UY. That gives you until April 30th of every year to bank your Sept UY points.

Good luck and have a great trip!