I still confused about Banking and Borrowing

[Wags]

If I purchased a re-sale June UY worth 180 points and all of the points from UY 02 are banked, at what point do those banked points have to be used. It seems to me that they needed to be used before the end of May, maybe I'm wrong.

Then at the beginning of June of '03, I receive my 180. I think I understand that I can bank all of those, as long as I do it before Nov. 29, '03.

My question regarding those banked points is this, by what date do I need to use those?

So now let's say today is February 1st, 2004. I banked all of my '03 points, and I want to borrow from my '04 allotment (which I won't receive until June of '04). And let's say I want to borrow 50. Taking into account my previously banked points, what is the latest date I can take my vacation with those 230 points (the 180 banked + the 50 borrowed)

I hope I've explained myself clearly. As I said I'm still confused.

 

[InstImpres]

With a June Use year your points expire May 31st each year. Banked points would expire May 31st a year later.

Banking Deadliens 100% - November; 50% February; 25% March

The points that come with the contract banked would expire May 31, 2004. You could use just these 180 or you could borrow. Be careful though, points can only be banked once. If you know you are going to borrow 50 points, I would only bank 130 of your 2003 points and than not need to borrow. It leaves you more flexibility in the long run.

Hope this answered your question.

Sandy

 

[DebbieB]

Your June 2002 points that were banked expire 5/31/04. Your June 2003 points will also expire 5/31/04 unless you bank them, then they will expire 5/31/05. You could also borrow June 2004 points for a stay between 6/1/03 & 5/31/04. So right now you could use 540 points (180 x 3) for a stay between 6/1/03 & 5/31/04 by using banked, current & borrowed points.

 

[RobDoc]

Points can't be borrowed without actually making a reservation (you cannot call MS and just borrow some points). The deadlines and expirations are juat as already described.

MS will walk you through the process nicely. The banked points from 02 need to be used first and then the 03 points need to be banked if you won't be using them for a trip prior to May 31, 2004.

Right now, you have 360 points to use for a reservation ending before May 31, 2004. If you want to do something that needs more than that, you will have to borrow from your 04 points to make that reservation.

Enjoy the process!

 

["Ginger"]

Can I do this? I have 130 points coming to me this year, june 2003. If I bank them they will not expire till 5/31/2005, correct? Next June I'll get 250 points that I don't have to bank till 5/31/05 right? Then can I borrow 250 from 2005 to give me a total of 630.

Looking to pay for a cruise Oct. 2004 with points

 

[RobDoc]

Originally posted by "Ginger"
Can I do this? I have 130 points coming to me this year, june 2003. If I bank them they will not expire till 5/31/2005, correct? Next June I'll get 250 points that I don't have to bank till 5/31/05 right? Then can I borrow 250 from 2005 to give me a total of 630.

Looking to pay for a cruise Oct. 2004 with points

For a cruise in Oct, 2004- you could have up to 630 points available- just like you figured. You don't have until 5/31/05 to bank all of the 6/04 points (only until 11/30/04)- but you don't want to bank those anyway as you'll need them for the October cruise.

Enjoy!

 

["Ginger"]

O.K. I think I get it now. So to keep my 130 from this year I'll have to bank them by Nov. of this year. That is if I don't use them. LOL Thanks