What restrictions are placed on borrowed points?

[invalid_char]

We have an April use-year and understand that we must bank our points by the end of September if we wish to bank all of them. However, beyond banking points correctly for the next year, I want to make sure I understand how to use them correctly.i.e. are there any penalties if you cancel a reservation using banked points. I know they need to be used up by the end of the year into which they were banked.

We are trying to determine how many points to bank, so I want to make sure I understand everything.

Thanks.

 

[luckytso]

I think the only restriction on the banked points is that they are not transferable (besides the fact that these points cannot be banked again). Otherwise, they are used exactly the same way as your current use year's points.

 

[drusba]

Banked points must be used by end of use year into which they are banked; borrowed points must be used by end of use year into which they have been borrowed. Neither banked nor borrowed points can be transfered to another member. The cancellation rules apply to all points. If you cancel 31 or more days before arrival, all points go back into your account as is -- current points become current points again, banked points just banked points and borrowed points just borrowed points. If you cancel 30 days or less before arrival, all points for the ressie go into a holding account and all must be used by the end of the use year and you can only make reservations by calling 60 days or less before date of arrival.

 

[invalid_char]

Thank you for your responses.

I have a couple of more questions.

Can banked points be un-banked? (as in, oops, I really would like to use those points in THIS use year, not next use year)

Also, if I make a ressie for sometime in next use year using next use year's points, and then I end up banking points from this use year, can I change the ressie so I use the banked points?

For example, I have an April use year. I made a ressie for April 2003 using 2003 points. Now, as it turns out, I will be banking 2002 points. Can I change the ressie so I will be using the banked 2002 points instead of the 2003 points?

Thanks again.

 

[luckytso]

Hi,

I believe once you borrow, or bank your points, there are irreversible (of course, under EXTREME circumstances, MS may make an exception, but generally no).

Also, if you use current year's point to make a ressie, and later that year has points banked from the prior year, MS can re-arrange your points so that the banked points or borrowed points will be used first. However, if it is between the 7th and the 11th window, the points have to be in the same resort. If it were within the 7-month window, they would not care which home resorts the points are coming from.

I hope this will help.

 

[invalid_char]

Yes. This is all perfectly clear. Thank you.

There does not seem to be any advantage to banking points before you are 6 months into your use year. You don't lose anything by waiting this long to bank, and yet, if you bank before then you lose the option of using them in your current use year. You would think they would let you un-bank them during the 1st six months of the use year, but I guess they have their reasons for not allowing this.

 

[luckytso]

I completely agree with you. There is no benefit to bank early unless you know for sure and you are afraid of missing the deadlines.

I suspect the reason why the banking/borrowing is irreversible has something to do with the cash versus DVC inventory declaration. But that will just be my guess. Have a great weekend.