New Member Questions

[drusba]

I never did this but any direct purchase paperwork I received had a clause in it that if you cancelled and had already used points you would need to repay them. There never was any restriction from booking with banked and borrowed points that I was aware of or experienced and I'm referring back to 2009 on forward. But I'm not certain I ever booked with either banked or borrowed prior to closing either.

The last time I bought direct was in 2007 (AKV) so rules could have changed after that. but there were restrictions back then and going back to 1990s when I first purchased, including the ones I mentioned. Any banking that you wanted done before closing was done only at closing.

 

[KAT4DISNEY]

The last time I bought direct was in 2007 (AKV) so rules could have changed after that. but there were restrictions back then and going back to 1990s when I first purchased, including the ones I mentioned. Any banking that you wanted done before closing was done only at closing.

This I'm pretty sure about - I had an add on shortly before the end of my UY so I called and banked as soon as the points were in my account. It was before closing.

 

[KAT4DISNEY]

The last time I bought direct was in 2007 (AKV) so rules could have changed after that. but there were restrictions back then and going back to 1990s when I first purchased, including the ones I mentioned. Any banking that you wanted done before closing was done only at closing.

FYI - I've been doing some reorganizing and part of it was my DVC paperwork so I took a look at this. I could not find any reference restricting banking or borrowing prior to closing. Also a reservation can be made prior to closing and was addressed on what would happen. When one does that they agree to assign the equivalent number of points to DVD. And they agree to pay the dues on the points used. If closing does not happen then they agree to pay for the accommodations and benefits used calculated as rack rate times the number of nights stayed plus any amount for benefits used. The only other requirement is that the deposit be at least equal to the calculated amount of the reservation made prior to closing. The almost identical verbage was in a 2008 contract and a 2013 contract.