Time window for banking??

[cswans]

If we buy a Dec use year resale, is it too late to bank the available 2002 points already? Ie, does 9 months fall March 1 or March 31 or some other date? Any help appreciated greatly! Thanks.

 

[PamOKW]

The banking deadlines for a December Use Year are 100% by May 31....50% by August 31.....25% by September 30. You can't bank between October 1 and November 30.

 

[CarolMN]

Just to add a little to what PamOKW has already said:

The 2002 points would be those added to the account on 12/1/2002. You would have until May 31, 2003 to bank 100% of them into the 2003 use year.

If you were talking about the points that went into the account on 12/1/2001 (These would be the 2001 use year points), you would have until May 31, 2002 to bank 100% of those points into the 2002 use year.

If you do not bank or borrow, the 2001 points are good for stays between 12/1/2001 and 11/30/2002.

If you do not bank or borrow, the 2002 points are good for stays between 12/1/2002 and 11/30/2003.

 

[cswans]

PamOKW and CarolMN,
Thanks so much for the clear information! Sounds like it's 6months then instead of 9mos. That's great news. I am shopping and researching for/with my sister (who is a Twin City neighbor CarolMN!) and it's getting very exciting as she figures out exactly what will work for her. I fell in love with OKW on my last trip and am very glad that's where she wants to buy.

 

[DebbieB]

One thing to keep in mind - you can't bank until your contract closes. So you have to leave enough time for the paperwork to go through.

 

[ripleysmom]

You might want to have the present owner bank those points for you if you think you won't have enough time till you close.

 

[cswans]

Thanks debbieB, ripleysmom--good things for me to keep in mind.