question about banked points

[midnte0708]

OK, I'm new to this so it may be a stupid question.
I just put in an offer for a resale contract and they have 220 banked 2006 points and a September date. Do those "220 banked" points have to be used by this Set 07??? or does the "banked" mean I have till next year (September 08) before they expire??

I really don't understand the whole banking business.....

Thanks!!

 

[drusba]

If they are in fact "2006" points and were banked then you would need to use them between Sep 07 and Sep 08. However, you should confirm with seller that they are in fact Sep 2006 points which have been banked into the 2007 use year, which begins Sep 2007. Banking simply means you have taken one use year's points and put them into the next use year for use for trip in that subsequent year.