Holding Account?

[browniemtb]

Its me again a non owner with questions
What a holding accout? Is this when you make a reservation and then have to cancel. These points go into a holding account. For example if I book now for April vacation and find out I can't go. Would those alotted point be in a holding accout? Forcing me to use them by use year end? Or can I put these back in my account or bank them?
Still confuse
Brownie

 

[AFMom]

Howdy! The holding account only comes into play if you cancel 30 days or less before your reservation. So if you had an April res now and canceled - you'd be fine, the points would just be normal points again with no restictions.
If points are put into a holding account - they can still beused - there are just the new restrictions on use placed on them. They have to be used by the end of your use year, no banking them, and any DVC resort reservation must be made within a 60 day window of when you would actually check in to the resort, there are also restirctions on how you can make non DVC resort reservations - but I'll let someone else explain that (We don't pay attention to those.....)
Hope that helps!

 

[CarolMN]

If you cancel a reservation 30 days or less prior to arrival, the points used for that reservation go into "holding account status".

That is not desirable because there are restrictions on when you can use holding account points to make reservations.

Holding account points can only be used to make a reservation for a stay that is 60 days or less from the date you call to make the reservation. Since availability is often limited at the 60 day mark, it can be tough to use those points.

Holding points expire at the end of your use year and cannot be banked.

If you have to cancel a reservation, try to do it at least 31 days prior to arrival - if you do that, the holding account restrictions do not apply. The points are just returned to your account. They can be banked (subject to your banking deadlines).

Best wishes -

 

[browniemtb]

Thank you......