Points Borrowing Question

[jd99]

Just signed the final paperwork for our BCV resale. Terms are 150 points with a Feb. use year. The folks we bought from banked the 2004 points already. We are planning a trip in December 2004. HOw do we work this? Do we use the banked 2004 points? or can we? or do we have to borrow 2005 points and then use the 2004 points in 2005? Help for a newbie please.

 

[dianeschlicht]

You call to make the ressie, and they will automatically borrow points from your 2005 UY for it. BTW, I would suggest when you call that you ask them to use the banked points first.

 

[jd99]

So I am able to use 2004 banked points in 2004? i was under the impression I could not.

 

[ronw]

Yes, you would have to borrow the 2005 points for the December reservation. This also creates a situation where use year matters - if you have to cancel the Dec reservation you would have to use the borrowed points by Jan 31 or loose them.

 

[PamOKW]

I think Diane misunderstood -- I had to read it twice myself.

I think your February 2004 allotment has already been banked? If so, then for a December trip you will need to "borrow" from the February 2005 amount. Remember, once you have borrowed points they cannot be put back. (Just like you couldn't get back the banked points, either.) If you need to cancel this December trip, you will still need to use the points prior to January 31, 2005.

Welcome Home!

 

[CarolMN]

Originally posted by jd99
Just signed the final paperwork for our BCV resale. Terms are 150 points with a Feb. use year. The folks we bought from banked the 2004 points already. We are planning a trip in December 2004. HOw do we work this? Do we use the banked 2004 points? or can we? or do we have to borrow 2005 points and then use the 2004 points in 2005? Help for a newbie please.

If the February 2004 use year points are already banked, they are now only good for stays that occur between 2/1/2005 and 1/31/2006. Once banked, points cannot be returned to their original use year. Those banked points must be used before 2/1/2006 or they will be lost. You may only bank points once.

Your desired Deceber 2004 stay falls within your 2004 use year. (2/1/2004 through 1/31/2005). You would have to borrow 2005 use year points to stay at that time. MS will do this for you when you call to make the reservation. Once borrowed, those points must be used by 1/31/2005 or they will be lost. They cannot be returned to thier orignal use year. So, if you have to cancel that 12/2004 trip, your rescheduling options will be limited.

Best wishes and congratulations on your purchase!.
Welcome home, too!

 

[jd99]

Now I see why this is such a pain and why the broker was so annoyed that this guy already banked his 2004 points.

 

[CarolMN]

Originally posted by jd99
Now I see why this is such a pain and why the broker was so annoyed that this guy already banked his 2004 points.

Yes, there wasn't any real reason to bank so early. With a February use year, he could have waited until the end of July and still been able to bank his entire annual allotment. Banking way ahread of the deadline usually isn't a very good idea - you never know what may come up, LOL!