cAN SOMEONE PLEASE EXPLAIN ABOUT BANKING POINTS

[funhouse8]

We just joined DVC and I am having trouble understanding the point banking thing. We have a DEc use year and they gave us points from 2005. These points are what is driving me crazy because I didn't have any trips planned this year. When do I have to bank these. If I bank them Can they be used for this year? We weren't going to Flordia this year but was thinking of using them elsewhere. Does this cost extra to use them for Lake George or DL? If I bank them do they have to be used together, can i split them, What happens to the points not used? Do i have to use them by the end of 2006? Please help me I'm clueless. Thanks, Gina

 

[JimMIA]

I'll try to answer this, but before I do, let me advise you to look for any post by Caskbill, click on the links on his signature, and download his free and totally wonderful DVC Planner software. It will help you plan vacations, keep track of your banking deadlines, and too many other details to list here.

There are three banking deadlines: 100%, up to 50%, and up to 25%.

You can bank up to 100% of your points at any time within the first six months of your use year -- for you, if I used the right number of fingers, that would be by the end of May.

You can bank up to 50% of your points by the end of the ninth month of your use year, which would be August. The percentage allowed is cumulative, so if you banked 75% of your points on May 30, you would be done for the year and the 50% and 25% deadlines would be meaningless for you that year.

You can bank up to 25% of your points, cumulative, by the end of the 10th month, and no banking in the last two months of your use year.

So, for your 2005 points, you could bank ALL of them by May 30, 2006. up to 50% of them by the end of August, and up to 25% of them by the end of September.

To summarize, get Caskbill's DVC Planner!

 

[JimMIA]

If I bank them Can they be used for this year?

If you bank your 2005 points, you bank them into your 2006 use year, which means you can use them between December 1, 2006 and November 30, 2007.

If I bank them do they have to be used together, can i split them,

You use points one at a time. You can split up the usage of them any way you want.

What happens to the points not used? Do i have to use them by the end of 2006?

If you do nothing (NO BANKING), you will have to use your 2005 points prior to November 30, 2006. If you bank them into your 2006 use year, you will have to use them prior to November 30, 2007. If you do not use them by those deadlines, they are lost and gone forever.

 

[funhouse8]

Thanks so much. This is just what I needed. Now I don't feel so stupid!

Just wanted to add that this is amazing. get Caskbill's DVC Planner is the best advice I ever received on these boards. Thanks!