Missed banking deadline

[Carol_]

By 'they', I am assuming you mean DVC. DVC has up'd the communication to members lately about their banking deadline, both via emails and on the DVC Member Site.

Many people plan on using their current UY points to make/modify reservations after the banking window ends and before the end of the UY. It is all about point strategy. Banked points have to be used in the next UY. If you banked those points, and then wanted to make a reservation in the last 4 months of your UY, you will need to borrow from the next UY. Since you can only borrow 50%, and can't borrow banked points, you could be in a bind on your reservation. Also if you banked points, then borrowed; you may not have enough points to book in 2 years since the banked points will expire in the next UY. Yes, you risk losing the points if you don't bank, but if you have a booking plan with a Plan B (i.e., SSR), then you'll be fine.

DVC point usage requires a clear understanding of how your points work. I have a spreadsheet detailing our vacation plans (with Plan B, C and D) out for the next 4 UYs. It's very helpful especially since we are restricted to 50% borrowing. So my banking/borrowing strategy is very delicate; and the last thing I would need is for the 'system' to automatically bank my points. Perhaps the website could offer an Option button to Automatically Bank, but that would have it's own issues.

“DVC Advisor” should be a job the way “Financial Advisor” is. College level calculus was easier to figure out.

 

[RossK]

Wow. I can’t imagine spending $20-40k on timeshare points then having to strategize to be able to use them or lose them. But then, I only go roughly once a year

You can't imagine spending $20-40k on something, and then remembering to actually use it once per year? I think as long as you have managed to arrange things like home insurance, car insurance, mortage payments and taxes, then booking or banking timeshare points once per year will not be a complex task for you, and certainly would not require a 'strategy'.

 

[CBMom01]

In many ways, the best thing about timeshares is that they are use-them-or-lose-them!

I can pretty much guarantee that I have not "saved money" by owning timeshares. Now, I definitely saved money using my timeshares vs. what it would have cost to rent the same lodging over the years. But, I traveled much more often than I would have without owning timeshares. The fact that they are both (a) prepaid and (b) have a limited shelf-life means that vacations become a priority in your life rather than something you fit in around everything else.

Now that makes sense to me! I know someone with a long-standing set week at a non Disney TS she inherited, and she says that’s her most relaxing week of the year. They do other trips most years, but it’s the timeshare that makes it logistically and financially possible