Holding Account - Am I understanding this correctly?

[NikkiDP]

Hi DISers! My DH and I are new resale owners and as such I am playing around on the site pretty reguarly to familiarize myself with it. Today, I was reading the modifying/cancelling area and am a little confused by points that are in holding. If someone could clarify if what I'm understanding below is correct, I would really appreciate it!

The membership we bought has 10 2017 points that were banked into 2018 and must be used by August 1 or we lose them. Hypothetically, if I were to book a 1 night stay at Old Key West for 10 points a night (I know it isn't but this is just to make my thinking easier haha), and cancel it withing 30 days of check-in, does that mean that those 10 banked points go into holding and can be used anytime within my current use year so long as it is booked 60 days out?

On the website it says that these points cannot be banked or borrow, but I am reading that as the points that have been put into the holding account because of a cancellation. That is how I am reading it but part of me says that can't be because it sounds like a way to cheat the system. We weren't planning on using those 10 points but if I can "save" them for a trip later in the year or early next year I most certainly will.

If someone could confirm or correct my thinking I would greatly appreciate it!

 

[BillPA]

If the points are in HOLDING you can ONLY use them for a reservation that is 60 day or less in the future.

 

[cvjw]

They will expire at the end of the use year they were banked into. You can’t make a reservation, cancel it and push them in your next use year.

Once your use year ends, so do these banked points

 

[KAT4DISNEY]

One scenario doesn't change a points status but having points go into holding means they are stuck in that UY and will expire if not used. It wouldn't matter if they were eligible to be banked before they went into holding. The holding restrictions restrict them from being banked. Then there's the rule that points can be banked once. If they are not used in the UY they are banked into then they will expire.

For holding - points go into holding if you cancel a reservation 30 days or less prior to check in. Points in holding can only be used to make a reservation that it is 60 days or less before check in. Holding points will expire if they are not used before the end of the UY they are in.

 

[NikkiDP]

These responses are so helpful! Thank you all so much for your answer this has helped my understanding so much. I knew it couldn't be what I was thinking but, hey, I had to make sure!

 

[Simba's Mom]

However, if you just bought a contract that had banked points, DVC Member Services MAY be able to reallocate points if you have an upcoming reservation. We bought a resale contract with banked points to add on to existing points. Fortunately, we had an existing reservation, and MS "reallocated" our points so that the banked points were used.