How does banking/ borrowing work

[esj0730]

I am very new at this. I recently purchased a resale and my use month is December. I recieve my first allotment of points in December of 2007, and I want to go on vacation either the first or second week of December 2007. Am I able to book my trip 11 months in advance even though I will be recieving my first allotment of points on the same day I want my vacation to start? When are you able to bank points and when are you able to borrow points. I am sure there are rules or charts about this procedure of which I probably have not recieved yet. Please help me understand.

 

[abner1776]

With a Dec UY and with your first points coming on 12/1/07, you don't even need to borrow the points to use them the first few weeks of Dec 07.

When you make the ressie and how many points you have at the time of making the ressie is irrelevant...it's when will you be using the points that is the critical date. You will get your points on 12/1/07 and you are using the points after that date. If instead you wanted to book a vacation for say 11/28/07 - 12/3/07 then you would have to borrow points to cover the November days but not to cover the December days. The result ends up being the same it's just more semantics.

In your case, even if you did not have points available until Dec '08 you would still be able to book into the first few weeks of Dec '07 by borrowing the Dec '08 points into your 2007 UY...and you could book the ressie as early as January '07...using the 11 month rule.

 

[jgreenedc]

Very helpful post, thanks. I've been struggling with this same question as I consider whether to buy in, and I've seen different info on different boards & places. Thanks.

 

[Granny]

When are you able to bank points and when are you able to borrow points.

With a December UY, your banking deadlines are as follows:

You can bank 100% of your points by May 31 in your UY
You can bank 50% of your points by August 31 in your UY
You can bank 25% of your points by September 30 in your UY

After Sept 30 you cannot bank any points for that UY.

As for borrowing, you do that at the time you make a reservation that requires you to borrow points. No need to do so at any other time.

By the way, welcome to the DIS boards.

I'd strongly encourage you to thoroughly understand your new purchase, and to ask questions. Many of your questions (including the one you've posted) are answered on the official DVC Member web site.

 

[dianeschlicht]

Granny is right, and you should have gotten a packet with the information when you closed on the resale. It is tough reading, but it should at least get you started. You will need to determin the date you want to travel in Dec. of '07 and then mark your calendar for 11 months prior to the date you would be checking out. That is when you can make the entire ressie. FYI, the first 2 weeks of December are very popular with DVC folks because of the low points etc. Those are definitely ressies that should be made at the 11 month mark.

 

[LisaS]

You should browse through this website created by our own VAScubaGuy: http://members.cox.net/disneyvacationclub/ It includes a lot of info from the members' handbook so it will answer a lot of your questions and serve as a good reference in the future.

 

[allflgirl]

Thanks, Lisa for that link to vascubaguy's website. It has lots of good information on it.

I'm new to DVC myself and am closing on a SSR contract within the next 2 weeks and have read through so much material over the past month or so. My contract has all points banked from '05 into '06, all '06 points now available as of Mar. So, based on the charts, I would have the opportunity to bank all of the '06 points into '07 use year when I get my contract, at least until Aug. Since I have 2 years points now available and another years coming in Mar '07, I'm pretty sure that I will want to bank some of my '06 points into '07 but I'm not sure how many points right now. I know I'll use all the '05 points up before Mar '06 and only need to figure out what to do with my '06 points.

So, here's my question, with my scheduled vacation plans, I will only use 5 of my '06 points by Feb 28th, 2007, what do I do with the rest so that I can use my '06 points for a May '07 & Sept '07 vacation? I plan making the May '07 reservation as soon as I get my points and the Sept '07 reservation at the 11 month window. Since the Sept '07 ressie can't be made until Oct sometime, I know I must bank those points into '07, however, I can make the May '07 ressie as soon as I receive my points, so will I need to bank the '06 points in order to use them for the May '07 ressie or since I'm making the ressie now, they'll use my '06 points for that reservation?

My understanding is that I will need to bank all points from '06 that I do not plan to use by 2/28/07 into my '07 use year and then I'll have the points available for all future reservations dated 3/1/07 and later. I wasn't quite clear on whether or not the banking of '06 points would be taken care of in the same transaction as my reservation when I make it for May '07. I don't want to mess up and use '07 points before the rest of my '06 points are used up.

Please help me clarify this.

Thanks!

 

[CarolMN]

Thanks, Lisa for that link to vascubaguy's website. It has lots of good information on it.

I'm new to DVC myself and am closing on a SSR contract within the next 2 weeks and have read through so much material over the past month or so.

Congrats and welcome home!

My contract has all points banked from '05 into '06, all '06 points now available as of Mar. So, based on the charts, I would have the opportunity to bank all of the '06 points into '07 use year when I get my contract, at least until Aug.

Yes, that's right. With a MArch use year, you may bank up to 100% of your annual allotment if you do it before the end of August.

Since I have 2 years points now available and another years coming in Mar '07, I'm pretty sure that I will want to bank some of my '06 points into '07 but I'm not sure how many points right now. I know I'll use all the '05 points up before Mar '06 and only need to figure out what to do with my '06 points.

I'm assuming you meant you'll use your '05 points up before March '07 - if the '05 points were banked, they become valid for trips between 3/1/2006 and 2/28/2007. If you don't use up all of the banked '05 points by then, they will expire.

So, here's my question, with my scheduled vacation plans, I will only use 5 of my '06 points by Feb 28th, 2007, what do I do with the rest so that I can use my '06 points for a May '07 & Sept '07 vacation?

I plan making the May '07 reservation as soon as I get my points and the Sept '07 reservation at the 11 month window. Since the Sept '07 ressie can't be made until Oct sometime, I know I must bank those points into '07, however, I can make the May '07 ressie as soon as I receive my points, so will I need to bank the '06 points in order to use them for the May '07 ressie or since I'm making the ressie now, they'll use my '06 points for that reservation?

My understanding is that I will need to bank all points from '06 that I do not plan to use by 2/28/07 into my '07 use year and then I'll have the points available for all future reservations dated 3/1/07 and later. I wasn't quite clear on whether or not the banking of '06 points would be taken care of in the same transaction as my reservation when I make it for May '07. I don't want to mess up and use '07 points before the rest of my '06 points are used up.

Please help me clarify this.

Thanks!

let's see if I can help - (although I think you understand just fine, LOL).

To use the 2006 points for a vacation in your 2007 use year (3/1/2007 - 2/28/2008), you do have to bank them first. The deadline to bank your 2006 points is 8/31/2006. (Since you plan to bank all but 5, you need to do it before the 100% deadline arrives).

That said, if you plan to book your May 2007 vacation at the 11 month window (June 2006), you need to bank the 2006 points before you make the reservation. (You can always bank ahead of the deadline - no need to wait unless you aren't sure of your plans). You can bank on the same call that you make the reservation, but bank first and then tell MS to use the banked points for the May 2007 reservation.

When you call to make the October 2007 reservation, tell MS to use up the banked points before using any of the 2007 points. Normally, MS will use banked ponts first, but my advice is to never count on it.

At the end of every call with MS, ask the CM to give you a status of all your points. If it doesn't agree with your records, straighten it out right then and there. It's a lot easier to correct a problem when it happens than it is to try to do it later.

Best wishes -