Point Use Question

[Mich Mouse]

We are just entering a contract for 314 points at BWV. (Only on the waitlist for a week!!! )

I have an August use year, so I have 2006 points available right now. When must they be used by? Is it July 31? I am not sure if we will be using points until August 2007, so I would have a whole new set of points to play with, right? What do I need to do with the unused points? Is there a time deadline? Will they send me all this information with my contracts?

We may go to HH over Easter if there is availibility, but I am sure we will not use all of our 314 points before our use year ends.

I have a lot to learn about banking/borrowing!

Thanks for your help! This board has helped me so much over the years. I can't believe it took me so long to finally stay in a DVC..We went in August for our first DVC at BWV, and now in September, we wil be owners.

 

[dianeschlicht]

Since your 2006 points will be available for most of 2007 (until July 31, 2007), plan your trips now, and then bank any "extra" 2006 points into your 2007 use year. That will give you a few extra for 2008!

 

[Mich Mouse]

Thanks.

When must the points for an August 2006 use year be banked by? Lots of planning to do!!!

 

[CoolDisneyCat]

Thanks.

When must the points for an August 2006 use year be banked by? Lots of planning to do!!!

Jan 30 to bank 100%

 

[Mich Mouse]

Thanks!

Are the deadlines for banking points different for every use year? (I am guessing they are)

So If I want to bank some points, possibly not 100% of them it is still a January 30th deadline?

 

[mikayla73]

For an Aug UY, you have until -
Jan 31 to bank 100%
April 30 to bank 50%
May 31 to back 25%

I found banking deadlines for all UY's are listed in the Vacation Planner 2006-2007.

Congratulations!

 

[dvc_john]

Just remember that banking is cumulative.

For example, if you banked 200 of your 314 points in January, then you could not bank any additional points in April, since you would have more than 50% of your points already banked.

If you haven't banked any points at all, then in April you could bank up to 157 points.

If you've banked 100 points in January, then in April you could bank up to an additional 57 points.

 

[Mich Mouse]

This is confusing to me.

Why would I want to bank 50% of my points in April? Can't I just make my plans, figure the points, and bank what I am not going to be using for that use year in January?

When must I use those banked points by?

Since we just got back from a long WDW trip (The free points a client gave our family have now actually wound up costing us 29,000 )we will not likely be going until next August.

Unless I can get any DVC for a few December days. If not, possibily HH over Easter. This could be a long shot too.

Thanks for your help!!

 

[RobDoc]

Banked points will expire at the end of the Use Year they were banked into. In this case, points from your August 2006 Use Year, July 31, 2008.

I would bank any points you won't need to use before July 31, 2007 as soon as you know you won't need them. If you later plan a trip during the current Use Year , you can always borrow points from the next Use Year to make the reservation.

The point regarding banking points by April is that you may still bank up to 50% of your total points by that date. No reason to wait that long if you already know what points you will need for the coming year.

 

[Mich Mouse]

Thanks Doc.

My plan is to make figure out what we need, and bank whatever is not needed by January 31, 2007.)

Then I use those extra points from the bank for my August 2007 trip, plus whatever else I may need from the 2007 use year, and again wait until January 30 of 2008 to bank whatever is left.

Is this right? Lots to learn!

 

[RobDoc]

Sounds like you've got a great start!

IMO, once you have a good idea what point needs you'll have for the coming Use Year, I'd just go ahead and bank any remaining points. That eliminates any problem where the end of January would pass before you remember to bank the unneeded points - but, for those who are organized just waiting until January is fine!

Enjoy!

 

[Mich Mouse]

So the scenario I wrote is correct about using the points?

(Bank whatever is not needed by January 31, 2007.
Then I use those extra points from the bank for my August 2007 trip, plus whatever else I may need from the 2007 use year, and again wait until January 30 of 2008 to bank whatever is left)

???????

Thanks again, Doc. Hopefully one day I'll be able to help out with these questions!

 

[browniemtb]

Sounds like you got it.....

The other thing, if you haven't done this already, is download Caskbill DVC program. The program will tell you the points needed for your stays and when the 11 and 7 month window opens as well as when you should bank. It a great tool and very well put together.

By the way....Welcome Home.......

Brownie

 

[BirdsOfPreyDave]

We have an August use year as well. When we bought in, we didn't realize the importance of the use year. We go in late July each year. This means an August use year isn't ideal for us, but we've not run into any problems so far.

If your plan is to gain full advantage of your home resort booking preference and book at the 11 month point on most trips, you'll never have to worry about banking deadlines. Just use the points you need for the trip and bank the remainder. For years when you want to try another DVC resort, if you follow standard advice from the boards, you'll still book at your home resort at the 11 month window, then try to switch to the other resort at the 7 month point. This way, you have a reservation either way. If you know the non-home resort will cost a few more points than your home resort, have them hold back that number of points when they do your banking. At the 7 month point, if you're able to switch resorts, great. If not, ask for the waiting list. Keep an eye on your banking deadlines while on the waiting list. If the banking deadline approaches, bank the points you were holding aside. If the waiting list comes through after this point, you can always borrow points from the next year. (Booking at 11 and switching at 7 ensures you always have a room, even if it isn't at the non-home resort you wanted to try that year.)

If you book like this and don't ever have to cancel a reservation or change a trip at the last minute, you'll never have an issue with banking deadlines. Therein lies the rub. If you do ever have to cancel a trip, either because of a change in your desires or an unexpected circumstance, banking deadlines and cancellation rules can be an issue. This is reason behind my earlier comment about an August use year not being ideal for someone who normally travels in July.

If you cancel a reservation more than 30 days from the check in date, there are no restrictions on the points you had used for that reservation. However, if you're already past your banking deadlines, you won't be able to bank some or all of the points into the next year (depending on which deadline has passed and how many points you've already banked).

If you cancel a reservation less than 30 days from check in, your points go into a holding account. Points in a holding account can't be banked regardless of the banking deadlines. They must be used in the current use year or they are lost. <Edited to remove some bad info.>

The ideal use year is one that is before when you typically want to travel. That gives you the rest of the year to reschedule if something goes wrong with a reservation. I wish that had been more clear before we bought.

Okay, that started out right, then went very Bottom line, bank as soon as you know how many points you need and don't need in a use year.

 

[RobDoc]

...
If you cancel a reservation less than 30 days from check in, your points go into a holding account. Points in a holding account can't be banked regardless of the banking deadlines. They must be used in the current use year or they are lost. A further restriction -- a biggie -- is that you can't make a reservation with holding account points if you are in the last 60 days of your use year. So, if I have a use year of August and scheduled a vacation starting on July 10th, and then had to cancel that reservation because of an illness on July 1st, I am cancelling with less than 30 days notice. My points from that reservation therefore go into a holding account. Because July 1st is less than 60 days from the end of my use year, I'm unable to make another reservation with those points. They are lost.
...

Actually, "Holding Account" points may only be used to make a reservation 60 days from when you wish to travel - but there is no restriction about using them at DVC resorts during your the last 60 days of your Use Year. DVC members cannot reserve at non-DVC resorts during the last two months unless you are more than 60 days out (this is to allow DVC ample time to use those points at DVC resorts). There is no restriction regarding using DVC points at DVC resorts during the last 60 days of the Use Year - even Holding Account points. Availability would be the only problem during that time period as any unreserved DVC villas are also available for cash reservations thru CRO.

In the example used above, you would need to reuse those Holding Account points by July 31 or they would be lost - but they can still be used at any of the DVC resorts based on availability. They just could not be used at non-DVC resorts.

An August Use Year will still work very well for travel during August - but a cancelled July trip would create possible difficulty reusing the points.

 

[BirdsOfPreyDave]

Actually, "Holding Account" points may only be used to make a reservation 60 days from when you wish to travel - but there is no restriction about using them at DVC resorts during your the last 60 days of your Use Year.

Thank you so much for clarifying that. When I first read this paragraph on the member web site a few months ago...

These Vacation Points can be used for a new Disney Vacation Club Resort reservation during your current Use Year as long as the reservation is booked 60 or less days before the new check-in date

I must have misread "60 or less" as "60 or more" and thought to myself, that means you can never book holding account in the last two months. I was upset that a rule would exist like that. It makes so much more sense when you read it correctly.

 

[Mich Mouse]

If you cancel a reservation more than 30 days from the check in date, there are no restrictions on the points you had used for that reservation. However, if you're already past your banking deadlines, you won't be able to bank some or all of the points into the next year (depending on which deadline has passed and how many points you've already banked).

.

So What happens to those points if you can't bank them? If I have an August use year and must cancel in June, when must I use the points by? That August or the following July? Or does it depend on what year points you are using?

Will I be given paperwork that clearly explains all of this?

I need a DVC for Dummies book.

Thanks for your help!

 

[RobDoc]

Any points that cannot be banked (either because they are already banked points or because you are past banking deadlines) will expire at the end of your current Use Year. If they were borrowed points- they cannot be banked anyway and will expire at the end of the current Use Year - if they were current points, they will also expire at the end of the current Use Year (unless they can still be banked) - if they were already banked from the prior Use Year they will expire at the end of the current Use Year.

As already noted, if you have an August Use Year and cancel a reservation for an August trip - you will still have your full (until the next July 31) Use Year to bank or use those points. The only issues arise when cancelling a reservation late in your Use Year. (If you have an August Use Year and cancel a trip for late July, the points will still need to be used by the end of July or they will be lost.)

All of these details will be in the POS you will get with your purchase from DVC. Most of these concepts are also available to read on the member's site and in the Vacation Planner. These same concepts also cause the greatest confusion among members. Please continue to ask questions!

 

[Mich Mouse]

Thank You!

I just got my member number today, and I am set to make ressies.

Only concern is DD's team...I may have to cancel ressies based on their performance.

If I make ressies for December and April, and bank what I do not need, what happens if I have to cancel either one of the trips prior to 30 days? Can I still bank the points? Or must they be used by the end of the current use year, which I think is July 2007, for August 2006 points. So If I cancel something in March/November what happens?

I am not sure about the banking dealines with %.

Are Member Services reps able to answer all of these types of questions?

Thank you again for your help!

 

[RobDoc]

As long as the reservation is cancelled 31 or more days ahead of arrival, the points will be returned to your account.

If you are still within your first 6 months of the Use Year- you may bank up to 100% of the points. After that time, the maximum you may have banked is 50% - BUT - if you have already banked 50% or more of your total # of points you will not be able to bank any further (the percentages are cumulative).

With an August Use Year, you have no restrictions about banking up thru January 31 each year. After that date you may bank up to a total of 50% of your total points thru April 30 and after that date you may bank up to 25% thru May 31. These totals will include any points previously banked- so if you own 200 points and banked 100 or more by January 31, you won't be able to bank any more for the remainder of the Use Year.