Still trying to convince my wife

[DisDadX2]

What are the details on banking points. We probably would go every two years for an extended stay. Can you bank a full year's points?

Thanks

 

[anniet]

Yes, you can bank a full years points, but you must use them the follwing year, or you lose them.

 

[ORD2KOA]

Aloha.

Yes, you are allowed to bank 100% of your points. They have a "schedule" of deadlines.

For instance, our use year is June.

Until November 30, we can bank 100%.
If we wait until February 28, we can bank 50%.
If we wait until March 31, we can bank 25%
From that point on (April 1-May 31) we are not allowed to bank the points.

 

[crisi]

Also, you need to bank six months ahead of the end of your use year to be able to bank all of your points.

There are a lot of people who use banking (or banking/borrowing) to go every other year. Your payback on investment is longer. But it works well for those of us for whom a week or ten days at Disney every other year is ideal.

Some people do it this way because it is more affordable. Every other year expenses for plane tickets, park tickets, etc. - and the ability to make 150 points stretch.

We do it because we want our kids to see more of the world than just the World. So in off years we travel other places.

 

[anniet]

Yes, you can bank a full years points, but you must use them the foll0wing year, or you will lose them. So if you purchase 150 points, and bank all of them, you want to make certain thay you use at least 150 points on your vacation.

If you bank 150 points and use 250, you can still bank the other 50 into the following year if you like. You can also borrow points, so if you wanted to make a grand vacation once every 3 years you would have 450 points to use!

Tell DW that it's worth it. I love my longtime DBF dearly and it took me 10 years to convince him that we should purchase. We will be taking our first trip home in January and so far the only thing he is regretting is that we didn't buy it sooner, when it was cheaper!

 

[drusba]

A prior post worth repeating here:


Banking and Borrowing 101:

By way of example, assume you have a February use year meaning points this year were issued Feb 1 and expire Jan 31 of 2003:

1. You have until the end of the sixth month of your use year to bank all your current points into the next use year--thus on or before July 31 in our example, you can bank all your current points into 2003 and they will then be usable for a trip that occurs between Feb 1, 2003 and Jan 31, 2004. Those points once banked stay banked. You can't bring them back to this use year for a trip in 2002. Moreover they must be used in that 2003 use year as they cannot be banked again into 2004. (Of course the new points you get in Feb 2003 can then be banked into 2004.)

2. You also have until the end of your ninth month of your use year, October 30 in our example, to bank up to 50% of your total current use year points, and until the end of the tenth month (Nov 30) to bank up to 25%. But understand those are cumulative totals. If you bank 50% or more of your total annual points in your sixth month, you won't be able to bank any more in the 9th or 10th month; likewise, if you have banked 25% or more before the end of your 9th month you won't be able to bank anymore in that 10th month. It is very important to keep track of your banking dates if you plan to bank and understand that if the last banking date falls on a weekend you need to bank by the Friday of that week, or if it falls on a holiday by the last business day before that holiday.


3. Borrowing is done only when you call to reserve a trip (there is no reason to do so otherwise). It goes by the year of your trip. For example, suppose you call now to reserve July 2003 (with the 11 month home resort ressie window). With a Feb use year, you can use for that trip any points issued Feb 1, 2003 (which will be your "current" use year points for that particular trip), any points you have banked from the 2002 use year to the 2003 use year, and any points you borrow from the 2004 use year that begins Feb 1, 2004. You can borrow up to 100% of the points from a use year for a trip that will occur in the previous use year. Thus, for that June 2003 trip you could borrow all of your 2004 points. As with banked points, points once borrowed stay borrowed, so if you cancel your trip you will have borrowed points that cannot be sent back to the use year they came from. As a result if you borrowed those 2004 points for that July 2003 trip and canceled, those borrowed points will have to be used for a trip that is completed by Jan 31, 2004.

 

[Granny]

Originally posted by crisi
There are a lot of people who use banking (or banking/borrowing) to go every other year. Your payback on investment is longer. But it works well for those of us for whom a week or ten days at Disney every other year is ideal

Unless my logic is off, the "every other year" strategy should not affect the payback (or break even) period.

Assuming you are going for 10 days every other year instead of 10 days every year, you only have to buy half as many points in the "every other year" scenario...so your payback should end up being about the same amount of time.

No matter what, it's been a great vacation investment!

 

[Disney Doll]

As a little aside, wehen we were buying, my DH figured out the DVC every which way from Sunday, and it still worked to the member's benefit , even if you were going every other year as opposed to every year.

 

[jimmytammy]

Sorry I didnt see your post sooner. Your banking pts. have been answered so what I would like to add is coming from a DVCer with little experience. We have only been in for 8 mos. and already added on and still havent used any pts.

What I want to add is dont let the banking and borrowing and all the other terminology deter you from joining DVC. I have learned A LOT in a short time through DVC membership guide and these boards which is especially helpful.

At any rate LOL to you and hope to be telling you Welcome Home very soon!

 

[Pam Lau]

Just a little warning, We used to be on the every other year plan. Last Thanksgiving we used our points for our first stay at the BWV and we were hooked. We now have plans to return for Thanksgiving this year, Spring Break 2003, and November 2003. We are purchasing Annual Passports! We got hooked. We find that our points go a long way if you only stay Sun- Thurs. We find other free reward night stays in the area over the weekends. It stretches our points a whole lot further! We also drive which minimizes our costs as well.