Newby question

[Sbacer]

First Thank you for all the nice Welcome's! I have read and read and am still having problems with the banking/borrowing question. Please let me know if I have at least this part right. We have a Dec UY, my understanding is that by May 31st we need to have ressies or bank.
When can we borrow? If "banked" into next year and a "opportunity" pop's up what do then? My DH keeps saying not to worry so much but I want to understand it. Our vacations will be mostly in summer for next few years, until retirement and I am afraid of our UY for right now. I am excited and ready to go though.
Thank you

Sandy

 

[lillasmom]

Ok, let's talk about about a set of points. If you have 200, and you create a ressie that uses 80 points, you would have 120 points left. You bank the 120 points, before the 6 month dead line, into the next use year. So for 2003, all your points have been taken care of. Now, in November, you decide that you want to go for a weekend. You can borrow points from the 2004 use year to take your trip, lets say anohter 80 points. That leaves 120 points from your 2004 use year and 120 points from your 2003 use year that you banked for you to use. Remember the points that you bank have to be used in the next year, so the 2003 points are use or loose in 2004. Also, you can borrow any time from the next use year. So in December, you can use your points from that year and borrow from the next if you like.

I hope that helps, ask more questions if you need to.

 

[meier56013]

If you have Dec UY, you want to bank by May 31 to have 100% of your points banked. If you plan on making a ressie between June and Dec you can gamble with those points and not bank them. The safe way is to bank by your deadline. If an opportunity comes up, borrow from next year, but you can't get your banked points reversed. Don't be afraid of your UY, if you plan on vacationing every summer, you'll always use your points. If you have trouble using them up, let me know

 

[tjkraz]

Originally posted by Sbacer
When can we borrow? If "banked" into next year and a "opportunity" pop's up what do then?

You can borrow at any time, however the borrowing is a permanent transaction.

Example:

Pts issued 12/1/03: 200
Pts used 4/1/04 for stay: 80
Pts banked 5/31/04: 120

That accounts for all of your 2003 points. 80 were used and 120 were banked into 2004.

Now, if you were to decide to visit WDW in October '04, you could borrow those points from your 12/1/04 points. You CANNOT reclaim the 2003 points that were banked. Let's pretend that you borrow 150 points from '04.

That would leave you with 50 points issued on 12/1/04 and 120 points banked from the prior year. The banked points could NOT be re-borrowed, and they must be used by the end of the new Use Year or they expire. So, the 120 points MUST be used between 12/1/04 and 11/30/05 or they are gone for good. The 50 remaining that are issued on 12/1/04 could be used or banked into the next year.

Hope that helps. It's easy see why some people prefer to stay in a borrowed mode rather than deal with banking deadlines.