Renting one time use points

[SugarShane74]

I called DVC member services to book a 2022 trip. I inquired about the 50% point borrowing restrictions that have been in place for over a year now. I then asked her to help me understand why I am not being allowed to use my points in the way that was explained to me when I purchased my DVC contract. To which she responded that I’m being able to use my points in the way they were intended to be used. She then proceeded to assure me that I could purchase up to 25 one time use points after I reached my 50% borrowed points at $19 a point. I know they have explained the reasoning as being that they have so many points that need to be used before they expire for many members, but if there are reservations available, then I don’t think these restrictions need to be in place. Why force members to purchase extra points, when they could borrow from the next year. The way that points were intended to be used.

 

[cvjw]

It’s 24 points only at the 7 month window. If you read the dvc fine print in the contract, it states banking and borrowing can be restricted by dvc. Nothing we can do about it. It has hit lots of members. We rented confirmed reservations twice since the pandemic since we couldn’t borrow points.

 

[Marionnette]

I called DVC member services to book a 2022 trip. I inquired about the 50% point borrowing restrictions that have been in place for over a year now. I then asked her to help me understand why I am not being allowed to use my points in the way that was explained to me when I purchased my DVC contract. To which she responded that I’m being able to use my points in the way they were intended to be used. She then proceeded to assure me that I could purchase up to 25 one time use points after I reached my 50% borrowed points at $19 a point. I know they have explained the reasoning as being that they have so many points that need to be used before they expire for many members, but if there are reservations available, then I don’t think these restrictions need to be in place. Why force members to purchase extra points, when they could borrow from the next year. The way that points were intended to be used.

A lot of members are unhappy with the borrowing restrictions. I think it affects those with small contracts who planned on trips every other year using banking and borrowing the most. But it has been done due to DVC allowing points to be extended for those who had reservations during the closure (ripple effect) and international owners who still cannot visit (additional strain on system). Plus there were a lot of unused DVC villas in the early stages of reopening which represent unused points that owners banked into 2021. DVC is trying to level out that glut of points and allowing owners to borrow from next year only defeats those efforts.

You may see available villas now but how close to the check in date are you looking? If it's more than a month out, then chances are very good that someone with usable points is going to book those rooms. DVC may move members to those rooms to accommodate overlooking that has occurred, or to facilitate refurbishishments (i.e. BRV, Poly and VGF). If it is less than 30 days out, then I agree that DVC should relax the borrowing restriction and allow owners to book those villas. But I feel that DVC would rather see points expire unused before making that exception.

 

[Sandisw]

I called DVC member services to book a 2022 trip. I inquired about the 50% point borrowing restrictions that have been in place for over a year now. I then asked her to help me understand why I am not being allowed to use my points in the way that was explained to me when I purchased my DVC contract. To which she responded that I’m being able to use my points in the way they were intended to be used. She then proceeded to assure me that I could purchase up to 25 one time use points after I reached my 50% borrowed points at $19 a point. I know they have explained the reasoning as being that they have so many points that need to be used before they expire for many members, but if there are reservations available, then I don’t think these restrictions need to be in place. Why force members to purchase extra points, when they could borrow from the next year. The way that points were intended to be used.

It is frustrating but the policy is looking at things long term and not just short.

Also, any borrowing for a trip not far out would be nice. But they have to be sure then that people don’t work around it to cancel and use farther out.

Now one way to do that would be to allow an owner to borrow for trips 60 days or less and attach holding to those points.

But seems like a lot of work now that we will be hopefully allowed to borrow more in the next 6 to 8 months.

As already stated, they have the ability to suspend banking and borrowing from time to time when it’s to balance supply and demand which is what had to happen.

 

[RobDoc]

When we purchased in 1993, borrowing was limited to 50%.

I can't recall when that limitation was changed, but banking/borrowing are just two of the many changes they can and have changed over the years in order to balance the reservation system.

I suspect there will also be some severe banking/borrowing limitations as we approach January 31, 2042.

Stay tuned!

 

[drusba]

When we purchased in 1993, borrowing was limited to 50%.

I can't recall when that limitation was changed, but banking/borrowing are just two of the many changes they can and have changed over the years in order to balance the reservation system.

I suspect there will also be some severe banking/borrowing limitations as we approach January 31, 2042.

Stay tuned!

The original 50% borrowing limit was changed to 100% before Vero Beach (the second DVC Resort) opened in October 1995. It remained 100% until the Covid change.

Banking has always been up to 100%. The only change made on that issue is that the original banking rule was that you could bank up to 100% by the end of the 6th month of your use year, 50% by the end of the 9th month of your use year, and 25% by the end of the 10th month of your use year. Those were cumulative totals, e.g., if you banked 50% by end of 6th month, you could not bank any more thereafter. That banking rule was changed in 2008 to the current rule, which allows banking up to 100% by the end of the 8th month of the use year.

Doing away with banking and borrowing would be a material change requiring an actual vote of the members, but under the POS, DVC has the discretion to modify the banking or borrowing rules, including the power to "suspend" either, In circumstances under which it believes it is needed to do so, which it did with the Covid change on borrowing.

 

[DRT-eagle]

It is a tough pill to swallow for all of us but it is for the good of everyone - there are way too many banked points and current year points already chasing a limited number of rooms. Allowing too many of the third wave of borrowing would just hurt even more.