Questions about Cancelling a DVC Ressie

[Ltl Mermaid]

Hi! I just recently met with a DVC and (through the power of the Disboards) discovered that i want to buy DVC but will buy resale. Now I have a question that I realized I didn't ask my DVC Guide!

How do cancellations work for reservation on points? This would stricly be at a DVC Resort of course since I will be buying resale. Do you get all of your points back? How far in advance can you cancel?

Thanks again everyone

 

[Jason@dvcstore]

Hi! I just recently met with a DVC and (through the power of the Disboards) discovered that i want to buy DVC but will buy resale. Now I have a question that I realized I didn't ask my DVC Guide!

How do cancellations work for reservation on points? This would stricly be at a DVC Resort of course since I will be buying resale. Do you get all of your points back? How far in advance can you cancel?

Thanks again everyone

Cancellations more than 31 days prior to the check-in date result in points being returned to the member’s account. There is no penalty or fee associated with cancelling or re-scheduling a trip on more than 31 days notice.

Cancellations coming between 1 and 30 days prior to check-in result in points being placed in a Holding status. Holding points are still the property of the member, but they can only be used to book a subsequent trip on 60 days’ notice or less. Holding points may not be banked, and will expire at the end of the current Use Year.

Cancellations on the day of arrival (or no-shows) result in forfeiture of the points.

Jason

 

[JimMIA]

The other thing you need to be aware of with cancellations is your banking deadline. You can bank as many points as you want during the first 8 months of your Use Year.

However, if you cancel a reservation after your banking deadline has expired, you would not be able to bank those points. They would become "use or lose" points which would expire at the end of the use year.

The other little quirk occurs when you borrow points to make a reservation. If you cancel the reservation, those points cannot be "unborrowed." They would remain in your current Use Year and they could not be banked.

 

[Sandisw]

The other thing you need to be aware of with cancellations is your banking deadline. You can bank as many points as you want during the first 8 months of your Use Year.

However, if you cancel a reservation after your banking deadline has expired, you would not be able to bank those points. They would become "use or lose" points which would expire at the end of the use year.

The other little quirk occurs when you borrow points to make a reservation. If you cancel the reservation, those points cannot be "unborrowed." They would remain in your current Use Year and they could not be banked.

And these are the reasons why someone who is looking should at least consider choosing a UY that falls before they typically travel, if they have a regular schedule to WDW.

Granted, things change over time and not the end of the world to not own the perfect UY, but I do think that having one closer to your travel time does allow for at least a bit more flexibility in terms of time to use or bank points.

 

[Deb & Bill]

Plus if you have already banked the points one time, you cannot bank them a second time. They will expire at the end of that year they were banked into if not used.