points in banked/reservation status

[pixiedustforever]

Before I buy, I have a few(?) more ?'s about banked points
and points in reservation status!

ex. If I have points from one year & some in reservation
status from say, the following year, when must they be used before they're lost? Want to get the most from the program!

Hoping to be going "home" soon..........
Thanks!

 

[RobDoc]

Banked points must be used by the end of the use year they were banked into. (ie- if you banked 150 points from your Jun 2000 use year- they must be used by May 31, 2002.)

Reservation points must also be used by the end of the current use year.

Good Luck!

 

[Richyams]

I have never canceled a non-DVC resort reservation, so I have never had a "reservation point", but I was under the impression that they had to be used the current year and couldn't be banked.....am I wrong?

 

[RobDoc]

You are right, Rich. On pages 134 of the new Guidebook, it outlines how reservation points may be used and states that "Reservation Points may not be converted back into Vacation Points. They may only be used for booking a future Member Getaways vacation within the same Use Year."

 

[Debby7]

I am considering cancelling a home resort reservation for this August. Will I lose all those points if I don't go by the end of the use year? I was hoping to bank them instead.
These are not member getaway ressies.

 

[pixiedustforever]

Thanks, you guys are wonderful resources of info!!!

Any other words of advice about banking points?
Such as, what are the cut-offs for banking 100%,
50% & 25%?

Thanks again!

A little pixiedust never hurt anyone!

 

[RobDoc]

If a reservation is cancelled more than 30 days before, the points are merely returned to the current use year and may be banked according to normal banking policy.

For banking, remember 6, 9 and 10 months.

100% of the points in a contract may be banked up to 6 months into the use year (ie- June Use Year- you can bank all points thru Nov. 30).

Up to 50% of the points may be banked thru the end of February- 9 months.

Up to 25% of the points may be banked thru the end of March- 10 months.

The banking percentages are based on the total points in the contract (NOT of the points remaining to be used).

Enjoy!

 

[CarolMN]

Originally posted by Debby7
I am considering cancelling a home resort reservation for this August. Will I lose all those points if I don't go by the end of the use year? I was hoping to bank them instead.
These are not member getaway ressies.

Debby7 - The answer to your question depends on your use year and your banking deadlines. As long as you cancel more than 30 days ahead of time, your points return to the current use year. For example, if you have a June use year, cancel in time and were using 2002 use year points for the reservation, you could bank all of the points. But if you have, say a December use year and were using 2001 use year points, you would only be able to bank a total of 50% of your total points. If you post your use year, we can be more specific.

Page 23 of your new Member Guideline Book has the banking deadline chart.

Hope you won't have to cancel.

 

[Debby7]

Probably will have to cancel. College son has to do an extra semester this summer that we hadn't planned on. Was just there in December, tho. Thanks for all the answers. My use year is Sept, so if I cancel this month I can bank all the points. That's what I thought, but the original responses got me wondering. Thanks again.

 

[DebbieB]

You would have until Feb 28 to bank all the points. This assumes that none of the points in the reservation were banked or borrowed.

 

[ripleysmom]

Also, correct me if I'm wrong here guys, but points in reservation status can only be used 60 days before your planned visit.

 

[RobDoc]

correct me if I'm wrong here guys, but points in reservation status can only be used 60 days before your planned visit.

No. That's the Holding Account.

Reservations for Member Getaways may not be reserved and used for travel during the last 60 days of your use year. This is because DVC needs to have enough time to use those points for DVC reservations. You may reserve at non-DVC reosrts for a time in the last 60 days of the use year, but you cannot make that same reservation during the last 60 days.

Points from reservations cancelled within 30 days will go inot the "holding account" and may only be used to make a reservation within 60 days from the time you call and must also be used before the current use year expires, as they may NOT be banked.