help me understand holding account...

[lisaviolet]

Hi,

If I cancel an existing reservation that is 31 days or less I understand that it goes into holding and that it has to be used by the end of this use year (for me end of February/March use). Can I put it into an II exchange or is this not available for points in holding accounts? If I can, do I have to book an exchange by the end of this use year as well? or two years. Thanks.

 

[spiceycat]

do you have a feb or march use year?

you must move the points to II 60 days before your use year ends (I think).

so if feb you don't have alot of time to decide.

but yes if you have at least 124 points.

however that say the best results with II is request first - not deposit first.

then you will have 2 years.

maybe you should consider renting these points?

 

[lisaviolet]

Thanks Pat....

I have a March use year. I have a reservation for 119 points that I might have to cancel. So can I add points to these "holding" points to move them into II? That is another question I should be asking.

Renting them. I guess I just figured that it would be difficult to find a renter when the points expire in just over two months if they are put into holding. Plus, I have to find availability for the renter. Diffiult.... I would guess in the next two months. There's another question: I can rent these points even though they are not just expiring....they are in this special account? Whoops I guess I can if you suggested it?!?!?

Decisions, decisions.

 

[PamOKW]

Wait a minute -- we're mixing several different options together.

The first question was about cancelling a reservation at 30 days or less -- when points go into a Holding Account.

These points can only be used to make a reservation 60 days or less in advance of arrival. They can't be banked or borrowed -- must be used by the end of the current Use Year.

You won't be able to use the option of putting points into an "account" with II. This is something that can be done with points instead of banking them. You can use them for up to two years at II. Holding account points can't be used for this.

You can use the points to book a Concierge Collection trip, II, Disney Collection etc. -- also only 60 days or less before arrival. This creates a problem for someone like you who is approaching the end of their Use Year. These options must also be booked 60 days or more before the end of your Use Year. You've got a Catch-22 happening. If your Use Year is March, you can only make non-DVC reservations up until January 1. You can travel in January and February but the reservations have to be made 60 days before the end of your Use Year. You also can't book more than 60 days in advance because these are Holding Account points. Basically, you have until January 1 to cancel what you have now and re-book a non-DVC vacation that concludes prior to February 28. (Double-check with MS that it is up until January 1 -- not sure if Feb. being a short month cuts into your final 60 days).

You can book DVC options right up until February 28, as long as they are 60 days before arrival.

You might be able to find someone to rent your existing reservation or you could re-book something and rent that. However, you'll have to be sure your renter knows it's a "final sale" since you'll have little or no option if they have any problem and need to cancel. I don't think you can transfer these points to another member but I'm not an expert on transfers.

 

[lisaviolet]

You won't be able to use the option of putting points into an "account" with II. This is something that can be done with points instead of banking them. You can use them for up to two years at II. Holding account points can't be used for this.

Thanks for all of your information. It helps. I was thinking that I couldn't do that with points put into a "holding account".

 

[Caskbill]

Just to correct one small comment you made. If you cancel 31 days prior to check-in, your points go back into your regular account. If you cancel 30 days or less, then they go into the holding account.

If you cancel on the check-in date, all points are forfeited.

 

[Dean]

Actually holding account points can be used for II, but only for short term travel (less than 2 months out) or for deposit first for a late deposit. Neither tend to be good values but they are options for the right situation.

And there's some question as to whether they can be transferred. I haven't looked for an "official" word on this and some people have said they cannot be. However, others have reported success in transferring holding account points.