New DVC member and I have a question

[southtexasmom]

2 days ago we became DVC members, we bought into Saratoga Springs with a promotion that backdated our points for this year to March, since our points started on March 1st our cutoff to bank 100% of those points is August 31st. I can't remember what our sales rep. said about banking those points. Do I need to bank them or will they roll over automatically? Our closing date isn't until September 20th so technically we can't use our points yet. Help! I'm so confused.

 

[dianeschlicht]

With a new purchase, they will usually waive banking deadlines. I would call your guide back and clarify that, since you don't close until September. Now, if you do NOT plan to travel to WDW before March 1st, '08, I'd just go ahead and bank those now anyway. I think you should be allowed to do that even if you haven't closed on a new contract.

 

[ScottakaMickey]

As Diane states, if you aren't going to use them, go ahead and bank them now. You can call MS and do that pretty much right away, assuming your guide gave you the MS number and your membership number. If not, you can call your guide or wait for the package to arrive.

As for using points, you can actually use your points right now if you want. Disney has a caveat that if you do use them, say Sept 1 and for some reason you don't close at the end of Sept, then you will be obligate to pay Disney for the room you stayed in. So, go ahead and start planning and booking now regardless of your closing date.

Oh, and I forgot to say Welcome Home!!!

 

[LisaS]

I agree with Diane, I don't think you have to wait until closing to bank the points. Give MS a call and see if they will do it for you. You are allowed to make reservations prior to closing, in fact you can even take a trip using the points prior to closing. If you don't go through with the purchase, they charge you rack rate for those nights and deduct it from your down payment. So I don't see why they wouldn't bank the points for you prior to closing.

 

[ont/ohana]

WELCOME HOME!
We did not wait to bank ours, we phoned MS and they were very helpful, but we found that our guide was extremly helpful whenever we have had a question!!

 

[Mtnman44]

Just to confrim: You do NOT need to wait till closing before you bank your points. This is one of the many advantages to buying direct. If you don't already have your member #, get it from your guide and then call MS to bank. Or you could try it online if you've gotten your login and pin#

 

[Caskbill]

Be sure you understand, points do not roll over automatically. You must actively bank points by calling MS.

 

[disneynutz]

HOME!

 

[ScottakaMickey]

This thread reminded me that I needed to bank, so this morning I called MS and requested to bank points.

The MS rep said, you understand you are outside of your 100% banking window, I said Yes, but as a new member, and she interrupted and said, oh that's right, and she proceeded to bank the number of points I requested. I am a new member and have not closed, mine is the middle of Sept.

 

[pyrxtc]

I just banked mine this morning. The papers are getting sent back tomorrow and I ahve already booked two vacations for next year to cover almost all of our developer points. Now.... what to do with the 8 points left over?? I'd need one more for my aunt to stay the night at the hotel with me.

 

[flyerron]

If you are a new buyer, the banking deadlines are extended without a problem. You do not need to rush & bank those points as yet. You haven't even closed!! MS is very helpful & reasonable, but I wouldn't wait a long time to make up your mind.

 

[mjf]

We are also signing our papers sometime this week, closing date Sept20. We asked for a Dec UY. I thought our rep said that we would get a Dec07 but the papers say Dec06.

Not sure if that was a mistake or if we are not allowed to get Dec07?

Either way we will definitely be banking our points because we have the double developer points which we will use this year.

If we are stuck with Dec06 then I really hope they waive the banking restrictions otherwise the deal will be off for us.

 

[LisaS]

We are also signing our papers sometime this week, closing date Sept20. We asked for a Dec UY. I thought our rep said that we would get a Dec07 but the papers say Dec06. Not sure if that was a mistake or if we are not allowed to get Dec07?

I assume you bought SSR because AKV starts with the 2007 Use Years. The difference is that if your papers say Dec '06, then your first set of points will be your Dec 2006 UY points and you will get them as soon as your contract is set up in the system. If your contract starts with Dec '07, then your first set of points will be your Dec 2007 UY points which will be available starting Dec 1, 2007. So a Dec '06 start date gives you an extra year's worth of points.

Either way we will definitely be banking our points because we have the double developer points which we will use this year.

If we are stuck with Dec06 then I really hope they waive the banking restrictions otherwise the deal will be off for us.

If you are getting Dec '06 points with your purchase, you will be allowed to bank them. If your first points are not coming until Dec '07, then you have nothing to bank anyway.

 

[mjf]

Yes we are going to buy 160 points at SSR. Very exciting. Just reading over the fine print right now. However, we are concerned that we won't be able to use the points if we have Dec06 UY.

We are going to SSR for Dec07 using most of our developer points.

If we got Decv06 UY, then we'd have to bank 160, but these would have to be used by Dec08. We weren't planning on going again until Feb/Mar 09.

So I guess we could rent out our points?

We are just trying to figure out if we should keep the Dec06 UY, we are only paying 4 months maintenance fees this year. So this is a great deal. But unfortunately we can't use them. Just wondering what people's thoughts are on this.

 

[ScottakaMickey]

Yes we are going to buy 160 points at SSR. Very exciting. Just reading over the fine print right now. However, we are concerned that we won't be able to use the points if we have Dec06 UY.

We are going to SSR for Dec07 using most of our developer points.

If we got Decv06 UY, then we'd have to bank 160, but these would have to be used by Dec08. We weren't planning on going again until Feb/Mar 09.

So I guess we could rent out our points?

We are just trying to figure out if we should keep the Dec06 UY, we are only paying 4 months maintenance fees this year. So this is a great deal. But unfortunately we can't use them. Just wondering what people's thoughts are on this.

Renting your extra points is certainly an option, it can pay for a lot of your initial investment and put some money in the bank or towards your vacation.

It does seem that your double developer points may not be the best option, insteand take the discount of $10 per point, which you can use your 06 and 07 points for your SSR vaca this year and then when 09 comes you can use your 08 and/or 09 points. A Dec 06 UY is a good place to get things started, you just have a lot of extra points to manage, which is a good thing no matter what you do with them, use them, rent them, give them to friends or family, or gift them to a friendly poster on the DIS. LOL, just kidding.

Enjoy and Welcome Home!!!

 

[summergolf]

Welcome home SSR neighbor