Help-Banking question...

[jaclark]

I have a June use year - this past Nov, I banked all of my 170 points. In December, booked our Nov 04 trip - used 160 points. Last week, scheduled a trip for Feb that was "unplanned". Used 140 points - all borrowed from June 04 but I didn't realize I couldn't use the banked 10.

The question is - the banked 10 expire in May 31, 05. I won't travel before then and don't think we are going in Fall 05. Am I allowed to "rent" these 10 points? And when they say "used" by May 31, they just mean a reservation made using them?

In future years, should I only bank my planned 160 points and let the other 10 "float?". We are fairly new to DVC (joined in fall 02) so I never had this situation occur before.

Any advice and help would be appreciated.

Thanks,
Annette

 

[spiceycat]

call ms - ask why the banked points were not used for your reservations - see if they are willing to help you

 

[jaclark]

I know that answer already because I did call - since I banked the points, I can't use them in the same use year they came from (so I can't use that 10 points until June 04).

I guess I just want to know if I can try to rent them to someone else come June..... but the book says you can't borrow or transfer banked points??

thanks,
Annette

 

[Dean]

MS is correct. You should wait to bank points until at least near your 100% window or later if you have 50% of your points or less to deal with. You will lose the points if you don't use them. You could rent them or possibly use them for a concierge collection stay but you're need more than the 10. You could also give them away. You might consider "trading" 10 points now for a return of a few points later or just giving them to another member for an extra day in a studio. Doubtful you'd have much luck getting market value out of just 10 points.

 

[PamOKW]

Originally posted by jaclark
And when they say "used" by May 31, they just mean a reservation made using them?

"Used" means the trip where the points are being used has to be complete. You could use them on May 31 but they would be useless as of June 1.

 

[Caskbill]

Originally posted by jaclark
I have a June use year - this past Nov, I banked all of my 170 points. In December, booked our Nov 04 trip - used 160 points. Last week, scheduled a trip for Feb that was "unplanned". Used 140 points - all borrowed from June 04 but I didn't realize I couldn't use the banked 10.

As you know, banked or borrowed points can only be used in the use year into which they were moved. Thus your June 2003 points that were banked into 2004 can only be used for a vacation sometime between June 1, 2004 and May 31, 2005. That's why those 10 points could not be used for your unplanned Feb 2004 vacation. (Feb 2004 is in your 2003 use year which runs Jun 1, 2003 through May 31, 2004.

Basically what you have now are 10 points banked into 2004 which cannot be moved, and 30 regular 2004 points (170 minus 140) which can be used in your regular 2004 use year, borrowed for another vacation in 2003 use year, or banked into your 2005 use year.

As already mentioned, you're not going to have a lot of options for those 10 points.

 

[jaclark]

Originally posted by Dean
MS is correct. You should wait to bank points until at least near your 100% window or later if you have 50% of your points or less to deal with. You will lose the points if you don't use them. You could rent them or possibly use them for a concierge collection stay but you're need more than the 10. You could also give them away. You might consider "trading" 10 points now for a return of a few points later or just giving them to another member for an extra day in a studio. Doubtful you'd have much luck getting market value out of just 10 points.

I don't think I can give them away - if I understand correctly, you can't transfer banked points??

I think they are a loss at this point....

Thanks everyone for your help,
Annette

 

[SleepyatDVC]

Book one non-weekend night at OKW and donate it.

I think there were some threads a while back regarding some charitable organizations that could use this. Anyone have the links or the names of some charitable organizations?

At least the points won't go to waste and you might even get a tax deduction.

Good luck.

 

[Dean]

Originally posted by jaclark
I don't think I can give them away - if I understand correctly, you can't transfer banked points??

I think they are a loss at this point....

Thanks everyone for your help,
Annette

But you can make a reservation in someone else's name which they can link to their own reservation.