Newbie questions

[ded4025]

The water is warm so jump in!

After several years of looking at DVC, Marriott and Sheraton, we finally did it and purchased at SSR last week! Based on our family needs, the flexible program and cost, Disney was the best value for us.

Our UY is March, we received 160 points for March 07. Seeing that we just returned from 10 days in Orlando and are booked on the 16 day Disney Panama Canal Crossing Cruise in 2008, our next trip to SSR won't be until the summer of 09.

A few questions for you "expects" from a newbie that doesn't want to lose those 07 points. Please let me know if I have this correct.

My March 07 points are good until the last day in February 2008?

If I bank them, they are good until the last day in February 2009?

When can I bank them, now or after we close (first week in October)?

I likely will be selling the 07 points so if I bank them, I can only sell my banked 07 points to somebody that will use them between 3/08 to 2/09?

TIA

Doug

 

[RobDoc]

My March 07 points are good until the last day in February 2008?

That's correct.

If I bank them, they are good until the last day in February 2009?

Right again.

When can I bank them, now or after we close (first week in October)?

I don't think you can bank them until your contract has closed - but even if you are beyond normal deadlines you will be able to bank the current points.

I likely will be selling the 07 points so if I bank them, I can only sell my banked 07 points to somebody that will use them between 3/08 to 2/09?

Your banked points can only be used to make reservations between March 1, 2008 and February 28, 2009. If you wish to make a reservation for a date prior to March 1, 2008 you would be able to borrow points from your 2008 Use Year.

 

[LisaS]

When can I bank them, now or after we close (first week in October)?

I think you can bank them as soon as your contract is set up in Disney's system. Since you purchased last week, your account is probably already set up. You can also make reservations prior to closing, too. As far as banking goes, your 100% banking deadline is Aug 31st, though as Doc said, they usually let people bank their first set of points after the banking deadline.

I likely will be selling the 07 points so if I bank them, I can only sell my banked 07 points to somebody that will use them between 3/08 to 2/09?

What do you mean by "selling" the 07 points? If you mean transferring them to another member, you cannot transfer banked points. You would have to transfer them sometime during your current ('07) Use Year before they expire. If you mean you want to rent a reservation made with those points, then you can bank them and use them to make a reservation for a stay occurring between Mar 1, 2008 and Feb 28, 2009.

 

[ScottakaMickey]

When can I bank them, now or after we close (first week in October)?

If you have a member number, you can bank them now. DVC waives the banking window restrictions for new members and usually extends it out to your closing date to bank up to 100% of your points. That is what they told me this week about my new contract, but I had already banked points.

Congrats and Welcome Home!!

 

[RobDoc]

...I think you can bank them as soon as your contract is set up in Disney's system.

Thanks for that update. In the past, while members could make reservations prior to closing, we were not allowed to bank or borrow points until closing had taken place - so this is a change from that original policy. In this case, with the current policy allowing banking beyond normal deadlines, there is no reason to bank before closing, but if someone knows they want to bank points it's nice that MS will now allow that to be done.

Regarding banking - also in the past members couldn't bank until already in the new Use Year. Presently, MS will allow us to bank before the Use Year has begun.

 

[bwvBound]

... are booked on the 16 day Disney Panama Canal Crossing Cruise in 2008, ...

You'll love it! We did the return trip in Aug'05 with my folks. It was our 2nd time through and we had been trying to get my folks to go for quite some time. Dad had said he'd never do Disney and Mom wasn't interested in the Canal ... but this combo (Disney + Panama Canal) worked for everyone.

 

[ded4025]

Thanks for all the replies.

We close in October but I was able to bank our points now.

Could someone share what the "standard" is when renting points, how much of a deposit to collect and when would the remaining balance be due?

TIA

Doug

 

[Granny]

Thanks for all the replies.

We close in October but I was able to bank our points now.

Could someone share what the "standard" is when renting points, how much of a deposit to collect and when would the remaining balance be due?

TIA

Doug

Doug....lots of that information in this thread.

Also, I'd recommend this Point Rental Primer thread for anyone new to renting their points.