I'm confused on banking and borrowing?

[pnelson]

We just bought into DVC at BCV with a February use year. We purchased 200 points. I banked the 2002 points. When do I have to use the February 2002 points that I banked? We are planning on going in December 2003 and I was assuming I would have 400 points to work with-200 from February 2002 and 200 from February 2003, plus I could potentially borrow from February 2004? Is this correct or do my 200 points from February 2002 have to be used by January 1 , 2003?

Am I making any sense at all?

 

[DebbieB]

February 2002 points are originally good for stays from Feb 1 2002 to Jan 31 2003. If you bank them, they are good from Feb 1 2003 to Jan 31, 2004. So for a Dec 2003 stay, you could use the banked Feb 2002 points, current Feb 2003 points and borrowed Feb 2004 points.

 

[Doctor P]

Just confirming that DebbieB is absolutely correct. Have a great time planning your trip!

 

[beattyfamily]

Instead of starting a new post I thought I'd ask my question here since it's the exact same topic and type of questions...

I'm a new member (1 year) and still don't completely get the banking/borrowing aspect of it all.

I have a use year of December. I have 97 left for 2002 (needs to be banked by May 31, 2003, right?).

When do I need to use the 97 points? I was thinking that they are current from December 1, 2002 thru November 30, 2003. Then does that mean after I bank them, they must be used between December 1, 2003 thru November 30, 2004?

I'm thinking about saving up points and not going next year and going Fall of 2004 with lots of points for a cruise and a nice room at BWV.

Thanks!!!!!

 

[yesdisneyfool]

Originally posted by beattyfamily
I have a use year of December. I have 97 left for 2002 (needs to be banked by May 31, 2003, right?).

When do I need to use the 97 points? I was thinking that they are current from December 1, 2002 thru November 30, 2003. Then does that mean after I bank them, they must be used between December 1, 2003 thru November 30, 2004? Thanks!!!!!

If I understand correctly - You have received your points December 1, 2001 and they are available for vacations from 12/1/2001 thru 11/30/2002 and you have 97 points left over. If you are finished your vacation plans, you can bank them into your next year (and you will get more points on Dec 1, 2002) and they will be available for your vacation use from December 1, 2002 thru November 30, 2003.

 

[beattyfamily]

No, these 97 points are left of 2002 (because I've borrowed).

I must bank these 97 by May 31 of 2003.

I'm guess then that I have till November 30, 2004 to use them IF I bank them in May.

Thanks!

 

[CarolMN]

Let me try. You borrowed some of your 2002 use year points for a vacation that occured or will occur prior to 12/1/2002. Because of that, on December 1, 2002, you will only get 97 points.

If that is the case, then YES, you have until May 31, 2003 to bank them. Now if 97 is less than half of your annual allotment of points, you have until August 31, 2003 to bank them. (August 31 is your 50% banking window). If you annual allotment of points is more than 388, you could actually wait until September 30, 2003 to bank them. (September is your 25% banking window).

If you do NOT bank the 97 points, you have until November 30, 2003 to use them or lose them.

If you DO bank them, you have until November 30, 2004 to use them or lose them. If you bank them, you cannot use them for a stay before December 1, 2003. If you bank them and then decide you want to use points, you'd have to borrow 2003 use year points into your 2002 use year.

HTH. IMHO, December use years can be VERY confusing!

 

[beattyfamily]

Thank for trying! I know what you mean about December use year!!!

I think I've got it now. I'll bank in May and then use them for a trip in 2004!

Thanks so much.

 

[jmminarik]

BeattyFamily: You could bank them on 1 December 2002 if you really wanted to do so...of course, this would limit your ability to go on an emergency WDW-fix trip unless you borrowed from the following year.

PNelson: The CM's at MS should automatically do this, but when you bank points and then go to make ressies the following year, make sure the first points spent are the banked points from the previous year. In otherwords, if your trip will cost 300 pts, use the 200 banked points first, then 100 of your 'current' use year's points.

Hope this helps,
Joe

 

[WDWalways]

I kinda have a question along the same lines ...
if I buy into DVC/BCV now (July 2002) and if I pick January as my use year/month will it begin January 2003 or will it automatically revert back to January 2002 which gives me 6 months to use the 200 points I plan on buying??? If I use some of the 200 points in 2002 can I bank the rest to use 2003??

 

[CarolMN]

Originally posted by WDWalways
I kinda have a question along the same lines ...
if I buy into DVC/BCV now (July 2002) and if I pick January as my use year/month will it begin January 2003 or will it automatically revert back to January 2002 which gives me 6 months to use the 200 points I plan on buying??? If I use some of the 200 points in 2002 can I bank the rest to use 2003??

First of all (just as an FYI), DVC does not sell January, May, July or November use years for any of the DVC resorts. I don't know why that is so, just that it is.

So suppose you select (and receive) a February use year instead. You would get access to your first full allotment of points after you sign the purchase agreement. You can bank all, or some, or none of the 2002 use year points. The deadline for 100% banking with a February use year is July 31. Disney will usually NOT sell you a use year that would preclude you from banking 100% of your first year's points. (That also gives Disney time to use the points if you choose to participate in the MB program). I'm not sure what use year they are currently offering for BCV, but I suspect it is March or April.