Newbie - December UY - explanation on banking

[hsteacher]

So I did a search first and most of the info is from 2007 so I wanted to ask -

If I have a December use year -

I have until July 31 to bank 100% of my points correct? After 7/31, I will lose any un-used current year points.

Once I bank my points, I have 2 years to use them. IE: the contract I just purchased has 217 points from 2008. I have until 7/31/09 to bank them. If I bank all 217 points, I have until 2009 to use them? (so I can accumulate 2 years of banked points? I have a 250 point DVC - I could potentially have 468 points during - or 500 if I bank full points - for a reservation?

If there's a easier or better way for me to understand all this, could someone please let me know. Thanks!

 

[maburke]

You don't lose your points after July 31, they last until November 30. If you want to use them in the following year, you bank them into that next year, and that's what you have to do by July 31.

If you have 217 points with a 2008 Dec. UY, then they come to you on 12/1/2008, and you can use them until 11/30/2009. If you bank them by 7/31/2008, then you can use them anytime between 12/1/2009 and 11/30/2010. You cannot bank them again. But you would also have your regular 2009 points to use during that time frame, so if you banked all of the first group, you have 468 points to use then. You can also borrow from the next year.

So the max you could ever possibly use in one year is 750.

HTH.

 

[wildernessDad]

If I have a December use year -

I have until July 31 to bank 100% of my points correct? After 7/31, I will lose any un-used current year points.

Correct in that you have until July 31, 2009 to bank your 2008 UY's points. It is not correct that you'd lose them if you didn't bank them. You just need to use them before the 2008 UY ends.

Once I bank my points, I have 2 years to use them. IE: the contract I just purchased has 217 points from 2008. I have until 7/31/09 to bank them. If I bank all 217 points, I have until 2009 to use them? (so I can accumulate 2 years of banked points? I have a 250 point DVC - I could potentially have 468 points during - or 500 if I bank full points - for a reservation?

I don't see how you could have 217 points from a December 2008 UY when the December 2008 UY has not even started. You probably have 217 points from the 2007 UY. Those points will be lost at the end of November, 2008, unless you mean that you have 217 banked points into the 2008 UY. Is that what you mean? Or perhaps you mean that your 2008 UY contains 217 points because someone used some by borrowing?

For those with December UYs, the 2008 UY starts on December 1, 2008 and ends on November 30, 2009.

Once you bank your points, you have until the end of the following UY to use them or they will be lost.

Also, you cannot bank already-banked points. Again, banked points must be used in the UY in which they were banked or they are lost.

 

[Cajun28]

I don't see how you could have 217 points from a December 2008 UY when the December 2008 UY has not even started. You probably have 217 points from the 2007 UY. Those points will be lost at the end of November, 2008, unless you mean that you have 217 banked points into the 2008 UY. Is that what you mean? Or perhaps you mean that your 2008 UY contains 217 points because someone used some by borrowing?

It is possible the previous owner borrowed 33 points from 2008 into 2007, resulting in 217 points left in 2008.

 

[wildernessDad]

It is possible the previous owner borrowed 33 points from 2008 into 2007, resulting in 217 points left in 2008.

Yes, it was noted in my last sentence of the quote in your thread.

 

[Cajun28]

Oops, sorry wildernessDad, I didn't notice what you said in the last sentence even though I quoted it.



I guess I need to read with better comprehension before I try and correct someone, especially someone who has over 2,000 more post than I have...LOL