Question about Banking and Borrowing

[Disnead]

Hello,
I have a quick question that I hope someone can answer for me. I am thinking of buying resale and would like to get one with banked or currently available points (I don't like the idea of buying a 'stripped' contract).

Say I see a resale with an October UY. If they have 100 banked points from 2007, 20 still available for 2008, and 200 coming on 10/2009.

If I understand it correctly the 100 from 2007 will expire on the last day of 9/2009 and will be lost.

Here is my question. If we want to use those banked points when do they show up as 'used'? Is it on the day of booking or the day of your stay? Meaning could I call in before 9/2009 and book a stay in 12/2009 and use those points? My gut feeling is no that you have to actually stay there for the points to be used, but I thought I'd ask anyway.

Is there any other way to make it to where I can actually get use out of those points if I can't go before they expire?

Thanks!

 

[5forDiz]

Yes banked October 2007 UY points will expire on 9/30/2009 so the very last night of a stay that could use those points would be 9/30/2009 because they may not be banked again.

Banking and borrowing are one time transactions - points that are banked cannot be banked 2nd time and borrowed points cannot be put back into the Use Year they are originally from. On 10/1/2009 those banked October 2007 UY points are gone and same holds true for October 2008 UY points as well if they are not banked into the October 2009 UY by May 31 2009.

You can try to rent the points out which means you'd be setting up a reservation for someone and they'd be renting that ressie from you ( read stickies at top of Rent/Trade board ) or see if another member can make use of the points and transfer to them (also posted on Rent/Trade board). You may be able to deposit them to RCI for a trip at a later date via an RCI exchange but I've never done this and do not know procedure or restrictions to do this.

When you may call to make a reservation using your points has nothing to do with the Use Year; you can always call as early as 11 months before the check-in date you want for a reservation at your Home Resort ( this is Home Resort booking advantage window : 11 months through 7 months+1day before check-in date you want at your HR ). 7 months or less before a check-in date you want you may call to reserve at any DVC resort.

Best wishes to you & hope it works out.

 

[chalee94]

here's a great thread for making sure you understand how use years work.

 

[CarolMN]

Yes banked October 2007 UY points will expire on 9/30/2009 so the very last night of a stay that could use those points would be 9/30/2009 because they may not be banked again.

Banking and borrowing are one time transactions - points that are banked cannot be banked 2nd time and borrowed points cannot be put back into the Use Year they are originally from. On 10/1/2009 those banked October 2007 UY points are gone and same holds true for October 2008 UY points as well if they are not banked into the October 2009 UY by May 31 2009.

You can try to rent the points out which means you'd be setting up a reservation for someone and they'd be renting that ressie from you ( read stickies at top of Rent/Trade board ) or see if another member can make use of the points and transfer to them (also posted on Rent/Trade board). You may be able to deposit them to RCI for a trip at a later date via an RCI exchange but I've never done this and do not know procedure or restrictions to do this.

When you may call to make a reservation using your points has nothing to do with the Use Year; you can always call as early as 11 months before the check-in date you want for a reservation at your Home Resort ( this is Home Resort booking advantage window : 11 months through 7 months+1day before check-in date you want at your HR ). 7 months or less before a check-in date you want you may call to reserve at any DVC resort.

Best wishes to you & hope it works out.

I agree with everything you've posted EXCEPT we are not allowed to transfer points that are banked or borrowed. Only current use year points may be transferred to another member.

 

[5forDiz]

I agree with everything you've posted EXCEPT we are not allowed to transfer points that are banked or borrowed. Only current use year points may be transferred to another member.

Yes very important point thanks Carol glad you caught that.

 

[Disnead]

Thanks for the link, and the helpful information! I was afraid of that, so I basically have 2 choices. Use em or Rent em before 9/30/09.

Not that big of a deal. If we were going to do this we were going to want to use the points for a trip in early December. I guess I'll look for a resale with current points available instead of banked points.

I hope to be a member soon!

Thanks again!

 

[CarolMN]

Thanks for the link, and the helpful information! I was afraid of that, so I basically have 2 choices. Use em or Rent em before 9/30/09.

Not that big of a deal. If we were going to do this we were going to want to use the points for a trip in early December. I guess I'll look for a resale with current points available instead of banked points.

I hope to be a member soon!

Thanks again!

No need to avoid that contract if it's only the banked points giving you pause.

Just make your offer as though the banked points did not exist since you personally would not be able to use them. The seller may accept your lower offer and if so, then good for you! If you then choose not to bother renting the banked points it won't matter.

Have you thought about giving a reservation away to friends or family with the banked points? If you made your offer without giving any value to the banked points, you could look pretty good for just a little effort and no expense, LOL

Good luck with your resale.

 

[Sandisw]

Just another piece to think about regarding your Dec 2009 trip. Resales are currently taking 6 - 8 weeks from offer to close so be sure to figure that into the process.

If you put in an offer today, there is a good chance that you won't be a member ready to make reservations until mid to late June. At that point, you will be only 6 months away from your vacation. Rooms, depending on your travel dates, may or may not be available at the resort of your choice.

Good luck!! I just became a DVC member in the last few months so I know what an exciting time it is deciding on where and what to buy!!

 

[jimmaher69]

Yes banked October 2007 UY points will expire on 9/30/2009 so the very last night of a stay that could use those points would be 9/30/2009 because they may not be banked again.

Banking and borrowing are one time transactions - points that are banked cannot be banked 2nd time and borrowed points cannot be put back into the Use Year they are originally from. On 10/1/2009 those banked October 2007 UY points are gone and same holds true for October 2008 UY points as well if they are not banked into the October 2009 UY by May 31 2009.

You can try to rent the points out which means you'd be setting up a reservation for someone and they'd be renting that ressie from you ( read stickies at top of Rent/Trade board ) or see if another member can make use of the points and transfer to them (also posted on Rent/Trade board). You may be able to deposit them to RCI for a trip at a later date via an RCI exchange but I've never done this and do not know procedure or restrictions to do this.

When you may call to make a reservation using your points has nothing to do with the Use Year; you can always call as early as 11 months before the check-in date you want for a reservation at your Home Resort ( this is Home Resort booking advantage window : 11 months through 7 months+1day before check-in date you want at your HR ). 7 months or less before a check-in date you want you may call to reserve at any DVC resort.

Best wishes to you & hope it works out.

What if for example you used all you points (current year, banked and borrowed from the next) Would you be allowed to make a reservation based on you being a member?

I would think no. You have to have available points?

 

[5forDiz]

What if for example you used all you points (current year, banked and borrowed from the next) Would you be allowed to make a reservation based on you being a member?

I would think no. You have to have available points?

I think this may be what you're asking :

If my Use Year is April, I'm going to use banked 2008 along with all current 2009 and all 2010 borrowed as well to travel in July 2009; but could I call MS today to book at 11 month window at my Home Resort for a trip that will be on March 26 - 30 2010 ? the answer to this would be no because I do not have any points available to cover this trip because I've used up all points that are banked from 2008 & all from current 2009 UY & borrowed all 2010 UY points too for trip in July 2009 and my 2011 Use Year points cannot be borrowed into 2009 Use Year which is when March 26 - 30 2010 trip would occur - the earliest check-in date I could have using 2011 Use Year points would be April 1 2010; I could call MS on May 1 2009 to reserve trip beginning on 4/1/2010 which would utilize borrowed 2011 points.

 

[dcfromva]

Is there any other way to make it to where I can actually get use out of those points if I can't go before they expire?

Thanks!

Disnead,
Another option you could use the points for an exchange-although exchanges have a fee associated with them (unless you use them at DL).

If you wanted to do a week, I believe the minimum deposit for RCI is 124 points for a week for a studio for low season. But, this would extend the life of your points.

There is also a nightly option.