Suggestions on what to do with 2013 points?

[pangyal]

So...we just went ahead and initiated a purchase for a contract that has fully loaded points, including 250 points from 2013 that had been banked.

We are new DVC members and I am a bit confused as to how the 2013 points work. Am I correct that with the contract's December use year, those points will be null and void as of November 30, 2015? We won't be booking anything between now and then, so I'm not sure what to do with those points. I guess I have a few options:
-Renting them out (would those be considered "distressed" points by David's?)
-Transferring them to another owner (how would that work, and how likely would it be that this could happen?)
-We can't bank them again, correct?

Thanks in advance for any advice here, we definitely don't want to lose those 250 points!

 

[nalajms]

You can't transfer banked points.

They are usable through 11/30/2015. I'd rent them or offer them to friends/relatives. Depending on when your resale closes and points are loaded, you will likely get more renting through the boards than David's. Just be aware that rooms are hard to come by in the fall.

 

[pangyal]

You can't transfer banked points.

They are usable through 11/30/2015. I'd rent them or offer them to friends/relatives. Depending on when your resale closes and points are loaded, you will likely get more renting through the boards than David's. Just be aware that rooms are hard to come by in the fall.

Thank you for the reply! So even though they were no longer banked and became usable as of December 1, 2014, we still can't transfer them because they were previously banked? Sorry to be dense, this is a bit confusing for me right now.

 

[supersnoop]

Thank you for the reply! So even though they were no longer banked and became usable as of December 1, 2014, we still can't transfer them because they were previously banked? Sorry to be dense, this is a bit confusing for me right now.

Any points "banked" into a use year are still considered "banked" points. They must be used within that 12-month periods and cannot be transferred.

I don't know how David's defines distressed points, but you still have 8 months to use the points, so I imagine you could rent them out at a normal rate.

 

[pangyal]

Ah, I understand that now, thank you!

I assume it will be closer to 6 months by the time everything closes, if we're lucky. They cannot be banked again, correct?

 

[Kimly]

You cant re-bank them, once they are banked that's it. Best to rent them.

I don't know if Disney could help you since they have been banked. I've never heard of them doing it, but that doesn't mean they won't. Can't hurt to call and ask once you close.

 

[pangyal]

I wonder if they might. That's a great fallback. Thanks everyone !

 

[DebbieB]

I wonder if they might. That's a great fallback. Thanks everyone !

They sometimes do "favors" for direct purchases such as banking past the deadline. But not for resale. I don't think there's anyway for them to bank points a second time for anyone.

 

[LisaS]

I wouldn't get my hopes up that Member Services will do anything for you. They cannot extend the life of banked points. You should plan on either using them or renting them before they expire on Nov 30, 2015.

There is a "one time only" exception that they have offered in the past to allow members to bank points that they forgot to bank before their banking deadline. Your points are already banked so that wouldn't apply in your case. In addition you will have 6 months to do something with them so MS won't be inclined to offer you any special favors.

 

[pangyal]

I wouldn't get my hopes up that Member Services will do anything for you. They cannot extend the life of banked points. You should plan on either using them or renting them before they expire on Nov 30, 2015.

There is a "one time only" exception that they have offered in the past to allow members to bank points that they forgot to bank before their banking deadline. Your points are already banked so that wouldn't apply in your case. In addition you will have 6 months to do something with them so MS won't be inclined to offer you any special favors.

See, this is why I knew this would be the place to ask ;-)! Thanks!

 

[deedisneydream97]

I've rented "spare" points through The Timeshare Store (a sponsor of these boards). We were surprised when we closed on a resale contract that 36 "extra" points were hanging out there. They had also been banked by the previous owner....and needed to be used within 6 weeks or so. The Timeshare Store had them rented by the end of the day or the next day. Locals that wanted a long weekend. We didn't get much (as they were considered "distressed" because they were about to expire) but it was better than nobody using them. That is a nice bunch of points you have...you should be able to rent thru TSS or Davids. There is still a lot of availability in August and September at AKL, VWL, SSR and OKW. Renting could help offset your purchase price, too.

We have a number of contracts at four different resorts...lots of points. And we always use every last one of them! Have never regretted our DVC purchases. Happy member since 1997.

 

[Kimly]

When we closed on our resale last summer, we closed 10 days before the start of our 2014 use year. The contract had 160 2013 pts, that didn't get banked and were about to expire. My husband called DVC, and they had no problem banking those points for us. It was amazing, I had read every where that DVC wouldn't do that for resale, but thankfully it wasn't an issue. So it might happen, fingers crossed for you!

 

[LisaS]

When we closed on our resale last summer, we closed 10 days before the start of our 2014 use year. The contract had 160 2013 pts, that didn't get banked and were about to expire. My husband called DVC, and they had no problem banking those points for us. It was amazing, I had read every where that DVC wouldn't do that for resale, but thankfully it wasn't an issue. So it might happen, fingers crossed for you!

As I stated in my earlier post, there have been many reports here that MS provided a one-time exception to bank points when the member was past the banking deadline. I imagine that is what happened in your case and your account probably has a note in it somewhere that you used your one-time exception. In the OP's case, the points are already banked. There is no one-time exception to bank points a second time.

 

[Kimly]

As I stated in my earlier post, there have been many reports here that MS provided a one-time exception to bank points when the member was past the banking deadline. I imagine that is what happened in your case and your account probably has a note in it somewhere that you used your one-time exception. In the OP's case, the points are already banked. There is no one-time exception to bank points a second time.

I was simply letting her know what happened in our experience and explaining when I was searching for my situation last year all I read was how resale is like the evil stepchild. But when contacting DVC it wasn't the case at all. That Suprising things can happen, and it doesn't hurt to ask.

 

[CMNJ]

I agree about DVC making exceptions. They were kind enough to allow us to bank April 2014 points in feb 2015 when we closed on our resale contract-it was an unexpected gift
I would suggest having a backup plan to rent those points out as I suspect DVC would not bank points a second time since it is not something that anyone here seems to have heard of them doing it the past nor is it a perk they offer direct buyers (they don't sell contracts with banked points only the current use year). DVC routinely banks points following direct purchases beyond the 8 month window up until the end of the use year-and from our experience and several others DVC often extends this curtesy to new resale members as well. It can't hurt to ask but I would be prepared for a no so that you have a backup plan in place right away to use/rent out those points.

 

[Minniesgal]

DVC do make exceptions to bank points late but it certainly wouldn't be fair for the membership for them to allow points to be banked a second time. No harm in asking but to me this is a non starter. I'd plan a trip or rent them.

 

[Firepath]

I believe you may have some options with RCI also, perhaps extending the life of the points by depositing them into RCI. I don't know a lot about the rules or the process, but I'm sure others here have done it or know how.

 

[Tunseeker1]

Dumb question, Are you paying MF on the points that are banked?

 

[pangyal]

Dumb question, Are you paying MF on the points that are banked?

Not a dumb question at all! Only 2015 MF. So, we have 500 "free" points from 2013 and 2014 to play with

 

[Tunseeker1]

You could transfer some of the "free" points to me!