OK, please explain??

[momoftwins]

I understand what a use year is - I think . So, say for example, my use yr is April of every year and I bought 200 pts initially - that means every yr I will get 200 pts in April - is this right?

This leads me to my next question, when do you have to bank your points, when can you borrow points, and how long can you bank points?

Does this make sense? Thanks and have a great night.

 

[poohnpiglet3]

Hi!

I'm still too much of a newbie to answer your questions with any detail. I'll leave that to the experts.

I just wanted to say hello as a fellow mommy to twins!

Sherri

 

[PamOKW]

You've got the Use Year concept down. Consider it your points' "birthday". The Use Year does not have any relation to when you can make a reservation. You can reserve your home resort (and most non-DVC options) at 11 months out and all DVC resorts beginning at 7 months out. If you won't have enough points at the time of your reservation you can "borrow" from the upcoming year. If you don't think you'll use all your points one year, you can bank some or all of them into the next Use Year. Once points are moved, they can't be moved again.

For your example of an April Use Year. If you banked your April 2004 points, they would have to be used between April 1, 2005 and March 31, 2006.

There are deadlines for banking points based on your Use Year. Using an April Use Year again as an exampel, you can bank 100% up until Sept. 30; 50% until Dec. 31 and 25% up until Jan. 31. In February and March you can no longer bank any points. (Banking percentages are based on the cumulative number of Vacation Points banked as of the banking deadline.) This means if you own 200 points and bank 150 points in August, when October 1 rolls around you can no longer bank any of the 50 remaining points because you are already over 50% of your points being banked. If you had banked 25 points in September, you could still bank up to 75 points until April 30 since that would only bring you to the 50% of 200 point.

 

[wdwstar]

that means every yr I will get 200 pts in April - is this right?

yes every year you will get 200 points

when do you have to bank your points

april use year bank by
sept. 30 100% of your points
dec.31 50 %
jan.31 25 %
feb.1-march 31 )%

when can you borrow points

you can bank points for the next year and borrow points from the next year
example: you received your april 200 points for 2003 and you banked the points by sept31,
april 2004 you receive your 2003 points and your 2004 points, now you have 400 points to use by march 31, 2005.
now in 2004 you want to make ressies and you dont have enough points between your 2003 and 2004 points, you can borrow your 200 points from 2005, to make to your ressies for a trip taken between april 2004-the end of march 2005.
once you borrow your 2005 points, those points become 2004 points, so if you cancel your trip those points remain in 2004 use year and now have to be used before march 31, 2005
unless you bank those 2005 points before sept 31, 2004

once you bank points , you have to use the banked points and cannot be banked again

banked points and borrowed points cannot be transferred to another member

how long can you bank points

once bank points you have to wait to use the points until april

you banked the april 2004 points in sept 2004 and then you decide to make a ressies before april 2005, you cannot use those banked points,
ms will borrow your 2005 points to make ressies

if you call after sept.31 2004 to make ressies for april 1 , 2005 or after ms can you those banked 2004 points

hope this helps, its alittle crazy but you will get the hang of it

 

[Caskbill]

Make yourself a use year chart like this. For April....


<b>Use Year.....Vacation Dates</b>
2004.....April 1, 2004 through Mar 31, 2005
2005.....April 1, 2005 through Mar 31, 2006
2006.....April 1, 2006 through Mar 31, 2007
2007.....April 1, 2007 through Mar 31, 2008
2008.....April 1, 2008 through Mar 31, 2009
2009.....April 1, 2009 through Mar 31, 2010

and so on.

You can bank points from any one use year into the following use year. They cannot be banked again.

Example: Bank 100 points from 2004 into 2005. Those <u>same</u> points cannot be banked again into 2006. However your regular 2005 allocated points could be banked into 2006.

You can borrow points from any year into a preceeding year. You only borrow points when needed in order to complete a reservation. I.E, you would not call MS and say to borrow all your 2005 points into 2004. Instead you borrow only what is needed.

Example, you have a 200 point contract. You want to take a 300 point vacation in January 2005. You note that this date is in your 2004 use year. You make the reservation using all 200 of your 2004 points, and you borrow 100 of your 2005 points to complete the 300 point reservation. Now, on April 1, 2005 you will only receive 100 new points as the other 100 had been borrowed.

Hope this helps.

 

[dianeschlicht]

Bill's way is a good one for visualizing. I make my chart with the banked points highlighted, so I know that I have to use a minimum of that many points in the use year they are banked into. I also fill in banking dates next to expected reservation dates to remind me to do that banking.

 

[momoftwins]

Wow, what a great explanation! Thank you all so much. This will really help us through deciding if the DVC is right for us.

Have a great day!

 

[momoftwins]

Wow, what a great explanation! Thank you all so much. This will really help us through deciding if the DVC is right for us.

Have a great day!