Point question for the experts

[gretchen265]

I bought a resale contract two years ago. The points were loaded, so I have been carrying over extra points every year in the hopes of a big celebration in a couple years. I know the information says 1 transfer per year. I would have points to carry over, but if I rented extra points for this year (to be able to carry over the full amount allowed), can that be done (or is that 2 transfers??transfer in/transfer out??)

 

[drusba]

I bought a resale contract two years ago. The points were loaded, so I have been carrying over extra points every year in the hopes of a big celebration in a couple years. I know the information says 1 transfer per year. I would have points to carry over, but if I rented extra points for this year (to be able to carry over the full amount allowed), can that be done (or is that 2 transfers??transfer in/transfer out??)

Taking points from one use year and moving them to the next is a banking transaction not a transfer. If you have points transfered to you by another, which is your one allowed transfer, and the banking period is still open for those points, you can bank them into the next use year applicable to the points, the transferor's use year.

Just note that you can never bank the same points twice. If you bank this years points into next use year, those particular points must be used in that use year.

 

[gretchen265]

Thanks!!!

 

[thepops]

you can also borrow from the following year, so you can use 3 years of points for one reservation.

 

[N4niner206]

I see the difference between transfers and banking/borrowing. However, along these lines regarding banking and borrowing... another question...

Can you bank points in multiple transactions? For example... say you have 150 points for UYJune 2011. In September you use 50 points, leaving you with 100. Lets say in October you bank 45 points that you don't expect to use. The remaining 55 are set aside for a trip in December. For some reason, that December trip doesn't happen... since you are still in your "banking window" can you bank those points? Or did they all have to be banked at one time?

I know that the logical thing to do would be to wait until toward the end of your banking window to keep your options open. I just wondered whether points can be banked in multiple transactions. I assume multiple borrowing transactions are also ok?

I hope this question makes sense...

 

[chalee94]

you are limited by the banking window, but yes, you can bank or borrow in multiple transactions as needed. (you don't call up to borrow pts just to move them - you'd actually need them to complete a reservation before you would borrow them. but if you change a reservation and need to borrow pts again, that works fine.)

you can also "rent" multiple reservations per year (although DVC will start to pay attention at some point, as they are wary of "commercial renters.")

also, it's important to distinguish between "renting" and "transferring" pts, as transfers are very different (and you cannot actually "rent" pts in the first place - you can only "rent" a reservation - although the language is common enough.)

 

[drusba]

Transfer: applies to physically transferring points between members and only one per use year allowed, in or out but not both.

Renting points: often what actually happens with a point rental is that the member rents by calling MS and, using his own points, makes a reservation in another's name. Calling it "renting points" is a convenient but somewhat inaccurate description of what actually occurs since what you are really doing is renting a reservation. Since no points actually transfer from the member to another, that is not a transfer subject to the one transfer per use year rule and you can do multiple such rentals per use year.

Banking: you can bank any or all of your points up until the end of the eighth month of your use year (and always count your beginning month as one when counting to eight). You can do as many banking events of some of your points as you want as long as all are done by end of that eighth month. If you use points and make a reservation and you cancel, you can then bank those points if you are still within the eight month banking period at time you cancel. If you cancel and you are beyond the banking window at time of cancellation those points have to be used by end of use year. Also, if you cancel 30 days or fewer out from date of arrival, points in reservation become holding points and cannot be banked, must be used by end of use year, and can only be used by calling to reserve 60 days or less out from date of arrival

Borrowing: you can borrow from a subsequent use year multiple times during a use year but you cannot borrow except when you are actually making a reservation for which you need to borrow points (and, if you think about it, you have absolutely no reason in the world to ever want to borrow when not making a reservation).

Transfers, banking and borrowing are final transactions; once done you can never send the points back to original owner in the case of a transfer, or to the original use year in the case of banking or borrowing. You cannot transfer to another member any banked or borrowed points, However, you can bank points that have already been transferred.