Cancellation Policy & "Reservation" points

[keishashadow]

Two more quick questions:

1) What is the cancellation policy for DVC reservations? and

2) I'm looking @ points for sale that are in "Reservation" status. I think this means that they were originally used to book a WDW hotel room, cruise or other resort and then cancelled. I assume they have to be reused in the same year in like form (WDW room, etc.).

Thought I read in the DVC prospectus that they have to be used 2 months prior to current year end or their lost, true?

Thanks

 

[JimMIA]

I'll take a stab at these excellent questions, in the hope that someone will correct any misinformation or gaps in my feedback.

1) What is the cancellation policy for DVC reservations? and

If you cancel a DVC reservation more than 30 days out, the points just go back in your account. I believe you can do anything you want with them, just like any other points - assuming banking deadlines, etc, are not a factor. [Edit: I guess the only thing you could not do with them is un-borrow, if you had borrowed some of them from next year.]

If you cancel a DVC reservation less than 30 days out, the points go back, but they are in "holding status." That means they can only be used for reservations 60 days in the future...which, of course, limits your availability. I also think (but am not positive) that holding status points have to be used first, before you can use other available points. If I understand that correctly, holding status points not only restrict availability, they also mess up your usage of your entire account.

See below for cancellations of non-DVC reservations.

2)I'm looking @ points for sale that are in "Reservation" status. I think this means that they were originally used to book a WDW hotel room, cruise or other resort and then cancelled. I assume they have to be reused in the same year in like form (WDW room, etc.).

Right. They expire when they expire. You can't bank them, transfer them, etc. And they can only be used for non-DVC reservations (cruises, hotels, etc) I personally would consider "reservation points" zero value, or maybe even a negative. You get a lot more value using points for DVC stays, and I wouldn't like the prospect of having to stay elsewhere just to avoid losing the points.

They are one-time points anyway, so they are of minimal value at best. The same is true of points "now available" which are beyond banking deadlines. They are only of value if you were going to take a trip anyway during their remaining life. If they force you to take a trip, I'd count them as a negative.

Thought I read in the DVC prospectus that they have to be used 2 months prior to current year end or their lost, true?

I believe that is correct, and I believe it is also true of points in holding status.

 

[CarolMN]

I don't think the 60 day rule applies to points that are already in reservation status. They do expire at the end of the use year and cannot be banked.

The 60 day rule is that you can't make a reservation during the last 60 days of your use year for a stay that also occurs during the last 60 days of your use year if you want to stay at one of the non-DVC options. (Doesn't apply to World Passport/II).

The 60 day rule was made so that DVC has time to rent out DVC nights equivalent to the points needed for your non-DVC choice (to get the cash to pay for it). Availability is often very limited during the last 60 days before arrival so that is why you need to make those ressies at least 61 days from the end of your use year.

Anyway, since DVC would already have rented the DVC time and received the cash for the first reservation (tha you cancelled), it shouldn't matter if you used the reservations points for something else or another time. DVC already has the cash to pay for it. So you don't need to worry about the 60 day rule in this case.

Best wishes -

 

[JimMIA]

I don't think the 60 day rule applies to points that are already in reservation status. They do expire at the end of the use year and cannot be banked.

The 60 day rule is that you can't make a reservation during the last 60 days of your use year for a stay that also occurs during the last 60 days of your use year if you want to stay at one of the non-DVC options. (Doesn't apply to World Passport/II).

Okay Carol, thanks. I'm sure you are right, but I'm not sure I understand.

60 day rule does NOT apply to "reservation points" for the reason you already pointed out.

60 day rule does NOT apply to "Holding status" points, if you are using them for DVC accommodations.

60 day rule DOES apply if you are trying to use "holding status" points for non-DVC, non-World Passport/II accommodations.

Is that right?

 

[CarolMN]

Okay Carol, thanks. I'm sure you are right, but I'm not sure I understand.

60 day rule does NOT apply to "reservation points" for the reason you already pointed out.

60 day rule does NOT apply to "Holding status" points, if you are using them for DVC accommodations.

60 day rule DOES apply if you are trying to use "holding status" points for non-DVC, non-World Passport/II accommodations.

Is that right?

Yes!

There is also another collection that could bre referred to as "non-DVC" - Lake Buena Vista Trading Company. I don't remember what options it has or how it gets paid for. I think it is like II in that DVC deposits time for them. If so, you couldn't use reservation points for that but you could use holding points (maybe) subject to the 60 day rule.

I know you can do "late deposits" to II, but I don't know if you can use holding points or what other restrictions there may be on late deposits. Best thing is to call MS with your specifics.


Best wishes -