Is it possible to bank too soon?

[Livelovedance]

I'm new to DVC and still figuring everything out little by little!

I have a September UY, and it says I can bank up to 100% of my points now through April 2019. I know it's important to bank before the deadline so you don't lose points, but is there any reason why I shouldn't bank now?

 

[bumbershoot]

If you bank now and then have an unexpected trip fall in your lap for the 2018 UY it can be disappointing. Because the banked points can’t be brought back.

But if such a trip became a reality, you could always borrow the “natural” 2019 points to be used in the 2018 UY.

 

[jo-jo]

If you bank now and then have an unexpected trip fall in your lap for the 2018 UY it can be disappointing. Because the banked points can’t be brought back.

But if such a trip became a reality, you could always borrow the “natural” 2019 points to be used in the 2018 UY.

I always bank at the last min, just for that reason.

Yes, if a trip is suddenly "needed", you can borrow the 2019 points, but you still then have the 2018 banks points that have to use by the end of your 2019 use year.

The last few years we've taken several trips , so using points were no issue. We even had to borrow. But right now we have no plans over the next year or so. I'm glad to have points that I can pushed two years down the road.

 

[davper]

I always bank last minute in case of last minute trip. But I set a calendar alarm to remind me.

 

[Frederic Civish]

Of course it is possible to bank too soon. Any points you bank now won’t be available until next year. If you suddenly decide to take a trip this year, you will have to Borrow points from next year. That gives you flexibility, but borrowed points and banked points are not the same.

If you change your mind and end up cancelling the reservation:

Borrowed points that are unused, will expire at the end of this use year. And there is nothing more you can do with them, if you can’t use them.

Regular points that are unused could still be banked, if before the end of April, or TRANSFERRED to someone else, and THAT PERSON could bank them, even after the banking deadline, and right up to the end of the Use Year! This gives them some potential value.

Meanwhile, Banked points you move into next year MUST be used by the end of next use year, or they expire. You cannot Borrow them again, Bank them again, or Transfer them, so you have less options, making them, potentially, less valuable.

So, is there ANY realistic chance you might use them before April 30th? If not, then bank away. ANY chance you will use them by the end of the use year? If not, then bank them. If so, then CONSIDER THE LIKELIHOOD OF A TRIP THIS YEAR, and either Bank them, then Borrow more if you actually do end up needing them, or don’t bank them and Transfer them before the end of your use year, to someone who can either use them or bank them, and might pay you money for them.

 

[Livelovedance]

Thank you everyone! I had a misunderstanding about the UY, so it’s an irrelevant question now lol, but very good to know for the future! I have already used my 2018 UY points for an upcoming stay in February, so all that’s left is a few extra points anyway. I will bank them for the 2019 UY. I just have to keep reminding myself, Sept to August, and bank by April!

 

[MrPTato]

Thank you everyone! I had a misunderstanding about the UY, so it’s an irrelevant question now lol, but very good to know for the future! I have already used my 2018 UY points for an upcoming stay in February, so all that’s left is a few extra points anyway. I will bank them for the 2019 UY. I just have to keep reminding myself, Sept to August, and bank by April!

You dashboard will give you all the dates as well. Do not wait until the last hour before the deadline to bank. If you have system issues or something else, its not worth the hassle. I usually bank a week before my deadline.

 

[hakepb]

I always bank last minute in case of last minute trip. But I set a calendar alarm to remind me.

I have one of those calendar reminders.
It’s a good laugh, since I’ve been in borrow mode for longer than I can recall.

 

[DSLRuser]

Bank last minute...but dont forget

I made the mistake my first year. banked in January when my deadline to bank was in march. we figured since we were going snow skiing, we would skip disney that year.......well.....during our ski trip in early march, family decided, a quip june trip was in order. So i have to borrow since i already banked. no lost points...just extra steps.....extra accounting

 

[Madame]

I have one of those calendar reminders.
It’s a good laugh, since I’ve been in borrow mode for longer than I can recall.

Us too. Then we bought another 270 points and both contracts are in borrow mode...

 

[peabody58]

I once banked a full Sept UY of points a year early by mistake due to my calendar brain fart. Worked out ok as we were saving points for the following year anyway. Getting ready to intentionally bank our 2018 Sept UY points into 2019 to fund the start of our Oct 19 - Sept 20 AP Year. Yes it gets confusing some times, that's why I have an Excel spreadsheet to keep our points straight.

 

[Sandisw]

Sometimes, you do have to bank early if you want to use those points at the 11 month window for the following UY. For example, I always go in August. To book at 11 months, I am booking in Sept. When I want to use June UY points, I have to book them by September (well before my Jan deadline) in order to have them available. It just all depends on what and when you are booking.

However, if everything for the UY of the points is booked, and you don't think you are going to need them, you can bank, and then if you decide to travel again, borrow back the following UY points as mentioned. And, yes, this has happened to me!!!

 

[apple9117]

Agreed with others, I bank at the last minute in case I need the points

 

[ElizabethG]

Sometimes, you do have to bank early if you want to use those points at the 11 month window for the following UY. For example, I always go in August. To book at 11 months, I am booking in Sept. When I want to use June UY points, I have to book them by September (well before my Jan deadline) in order to have them available. It just all depends on what and when you are booking.

However, if everything for the UY of the points is booked, and you don't think you are going to need them, you can bank, and then if you decide to travel again, borrow back the following UY points as mentioned. And, yes, this has happened to me!!!

I just did this. My deadline to bank is October. I banked my points so I could use them for a trip in 2019.

I plan really early and don’t take surprise trips. So, I bank as soon as my plans are set.

 

[southerngirl528]

I always bank last minute in case of last minute trip. But I set a calendar alarm to remind me.

Same here, unless I need to bank to have needed amount of points for a rez in the next use year.

Of course it is possible to bank too soon. Any points you bank now won’t be available until next year. If you suddenly decide to take a trip this year, you will have to Borrow points from next year. That gives you flexibility, but borrowed points and banked points are not the same.

If you change your mind and end up cancelling the reservation:

Borrowed points that are unused, will expire at the end of this use year. And there is nothing more you can do with them, if you can’t use them.

Regular points that are unused could still be banked, if before the end of April, or TRANSFERRED to someone else, and THAT PERSON could bank them, even after the banking deadline, and right up to the end of the Use Year! This gives them some potential value.

Meanwhile, Banked points you move into next year MUST be used by the end of next use year, or they expire. You cannot Borrow them again, Bank them again, or Transfer them, so you have less options, making them, potentially, less valuable.

So, is there ANY realistic chance you might use them before April 30th? If not, then bank away. ANY chance you will use them by the end of the use year? If not, then bank them. If so, then CONSIDER THE LIKELIHOOD OF A TRIP THIS YEAR, and either Bank them, then Borrow more if you actually do end up needing them, or don’t bank them and Transfer them before the end of your use year, to someone who can either use them or bank them, and might pay you money for them.

Very good explanation of why NOT to bank too early. REMEMBER: Banking (OR borrowing!) is a FINAL transaction and can NOT be reversed. And that is why most of us wait until close to deadline, and put reminders on our iCalendars, etc., so as not to forget to bank.