Borrowing points

[Mark Thornhill]

Is the 50% borrow rule still in affect? If so, any light at the end of the tunnel?

 

[erionm]

Is the 50% borrow rule still in affect? If so, any light at the end of the tunnel?

Yes. DVC has not hinted at all as to when the limitation will end.

 

[Sandisw]

No word and many think it will stay in effect until after May 2022 which is the extension DVC has given to international owners who can not use their points.

 

[StephanS]

Has anyone reviewed the sale agreement to verify if this is legal? I want to use my 2021 and 2022 points for a trip around the holidays. I'm only staying 5 days, but more points are required per room at that time then off peak times. We paid lot of money for these points and during the Disney sales pitch they advertise that you can bank and borrow points as needed. Should we consider a class action suit to force the change or receive compensation?

 

[kes601]

In reality all they have to do is allow you to use your current use year points. They could say no banking or borrowing and it would be completely legal.

 

[Lyndylou]

Does anyone know, when borrowing. can you borrow 50% of your total points or does it have to be 50% of each contract (which I suspect ). We have 950 points but only want to borrow 300 . Would be great if we could borrow all 300 BWV points. Thanks

 

[kes601]

Does anyone know, when borrowing. can you borrow 50% of your total points or does it have to be 50% of each contract (which I suspect ). We have 950 points but only want to borrow 300 . Would be great if we could borrow all 300 BWV points. Thanks

My understanding from other threads is that it is 50% of each contract.

 

[Sandisw]

Has anyone reviewed the sale agreement to verify if this is legal? I want to use my 2021 and 2022 points for a trip around the holidays. I'm only staying 5 days, but more points are required per room at that time then off peak times. We paid lot of money for these points and during the Disney sales pitch they advertise that you can bank and borrow points as needed. Should we consider a class action suit to force the change or receive compensation?

Banking and borrowing can be suspended at any time It is part of the home resort rules and regulations. So, yes, it is a legal move.

 

[Sandisw]

Does anyone know, when borrowing. can you borrow 50% of your total points or does it have to be 50% of each contract (which I suspect ). We have 950 points but only want to borrow 300 . Would be great if we could borrow all 300 BWV points. Thanks

Per contract.

 

[Lyndylou]

My understanding from other threads is that it is 50% of each contract.

That’s what I thought. I was clutching at straws thank you

 

[drusba]

The maximum borrowing right now is at 50% per contract. As far as legality goes, the POS creates a right to borrow and bank points but gives DVC the discretion to suspend or modify borrowing or banking if it believes circumstances make it necessary, which DVC can easily justify under current conditions. In essence, DVC is basically prohibited from just doing away with banking or borrowing entirely but has a lot of leeway for how long it can suspend either, or modify the amount of banking or borrowing members can do.

When DVC was created with OKW in 1991, the original borrowing rule was, in fact, a maximum of 50%. It became 100% not long before the second DVC resort, Vero Beach, was added in 1995. The first alteration since then to borrowing is the one made during the pandemic. Banking was actually modified a number of years ago. Originally there were three tiers to banking -- bank all by end of 6th month of use year, bank 50% by end of ninth month, bank 25% by end of tenth month. Those were cumulative totals. If you banked 50% by end of sixth month, you could not bank anymore thereafter. The rule is now bank any or all by end of eighth month.

 

[Stargazer65]

How about now?

 

[erionm]

Has anyone reviewed the sale agreement to verify if this is legal? I want to use my 2021 and 2022 points for a trip around the holidays. I'm only staying 5 days, but more points are required per room at that time then off peak times. We paid lot of money for these points and during the Disney sales pitch they advertise that you can bank and borrow points as needed. Should we consider a class action suit to force the change or receive compensation?

From the Home Resort Rules & Regulations:

Banking or Borrowing may be suspended or limited by DVC Operator from time to time, in its discretion, in
order to maintain a proper balance of reservations and Home Resort Vacation Points in the Club’s central
reservation system.

 

[jdkdorn]

Does anyone know of if you can borrow more than 50% if you are exchanging out if Disney? We are considering doing that since we cannot borrow to go to the parks.

 

[Sandisw]

Does anyone know of if you can borrow more than 50% if you are exchanging out if Disney? We are considering doing that since we cannot borrow to go to the parks.

I think I read they allowed it for the cruise on the Wish but not positive.

You’d have to call and ask.

 

[DbleTheFun]

I think I read they allowed it for the cruise on the Wish but not positive.

You’d have to call and ask.

Old post... but wanted to give an update. We successfully asked for an exception for using more 2024 "borrowed" points for an upcoming 2 cabin booking on the Wish for Spring 2023. They allowed me to keep some of my 2023 points and used more 2024, so that when my booking window opens for resort stay, I will have enough points to use them for that, without the hassle of the 50% concerns should that rule remain for months more.

Took 4 hours between being on hold, and booking the two cabins, asking for exceptions, applying points etc... but it all worked out!