Yet another 'what to do with points' Question

[nunzia]

I have a reservation using banked and borrowed points that we are not going to use. These are all in my 2009 use year and expire end of February. The way I see it my options are to lose the points, rent the reservation or put the points in holding? I don't get holding. How does that work? How long do you have to use holding points? Are holding points only useable at property hotels? Is this the same as depositing into RCI which I really don't get. How does that whole mess work? I've read some on the DVC site, but it does not make much sense. Still too new to this to figure this out.
Any advice about redweek? Cost to use, how popular, how it works?

 

[Disney Princess]

I have a reservation using banked and borrowed points that we are not going to use. These are all in my 2009 use year and expire end of February. The way I see it my options are to lose the points, rent the reservation or put the points in holding? I don't get holding. How does that work? How long do you have to use holding points? Are holding points only useable at property hotels? Is this the same as depositing into RCI which I really don't get. How does that whole mess work? I've read some on the DVC site, but it does not make much sense. Still too new to this to figure this out.
Any advice about redweek? Cost to use, how popular, how it works?

When is the reservation for? If you are further than 31 days out, I think you can still bank your March 2009 points because your banking deadline is October 31st. The borrowed points are unbankable, but you could rent those out or transfer them to someone. If you are within 31 days of the reservation, than I am of no help to you as I don't understand holding either. Good luck!

 

[DebbieB]

When you cancel a reservation 30 days or less before arrival, points going into a "holding account". Holding account points can only be reserved 60 days or less before the arrival date. So if you want to arrive on December 1, you can call to reserve these points on 10/2 (60 days). If the points are not used, they expire at the end of the use year. They can be used at the non-DVC hotels but I'm not sure how RCI works.

 

[Deb & Bill]

...They can be used at the non-DVC hotels but I'm not sure how RCI works.

But you can't make a reservation at a non-DVC Disney resort within the last four months of your UY. So if your UY ends on Feb 28, 2010, you could make a reservation at a non-DVC Disney resort until the end of October.

 

[nunzia]

Wow..Ok..so my only choice is to rent the reservation. Since I borrowed in from my 2010 use year, then that would mean that those points would all also need to be used by Feb 28 2010, right? The rest of the points were banked 08 and current 09. It isn't a bunch of points, but still.....

 

[Deb & Bill]

Wow..Ok..so my only choice is to rent the reservation. Since I borrowed in from my 2010 use year, then that would mean that those points would all also need to be used by Feb 28 2010, right? The rest of the points were banked 08 and current 09. It isn't a bunch of points, but still.....

Yep, any borrowed points cannot go back to that UY. They will expire at the end of the UY. But you could still bank the current year points if that's any consolation.

 

[DebbieB]

Yep, any borrowed points cannot go back to that UY. They will expire at the end of the UY. But you could still bank the current year points if that's any consolation.

Unless they are in holding. What was your date of arrival and when did you cancel it? If it was over 30 days, then they are not in holding.

 

[nunzia]

Unless they are in holding. What was your date of arrival and when did you cancel it? If it was over 30 days, then they are not in holding.

I haven't canceled it yet, since I'm thinking I will need to rent it..Soo..I could bank my 09 points and then just lose 08 and 10 points?
ditherdither..what to do....

 

[DebbieB]

I haven't canceled it yet, since I'm thinking I will need to rent it..Soo..I could bank my 09 points and then just lose 08 and 10 points?
ditherdither..what to do....

yes, as long as you cancel at least 31 days before arrival. What is your arrival date? Do you have time to try to rent it and if unsucessful cancel?

 

[Deb & Bill]

You won't be able to post a reservation for rent on the DIS until 30 days out. But you might be able to find other avenues to do that.

 

[dcfromva]

I haven't canceled it yet, since I'm thinking I will need to rent it..Soo..I could bank my 09 points and then just lose 08 and 10 points?
ditherdither..what to do....

When is your arrival date?

 

[nunzia]

yes, as long as you cancel at least 31 days before arrival. What is your arrival date? Do you have time to try to rent it and if unsucessful cancel?

I don't want to give exact dates since the board might think I'm trying to rent, but it's very early Jan. Since I have a march use year, I would need to bank by..uh..October 28??

 

[Deb & Bill]

I don't want to give exact dates since the board might think I'm trying to rent, but it's very early Jan. Since I have a march use year, I would need to bank by..uh..October 28??

October 31.

 

[Disney Princess]

If your trip isn't until January, you can cancel, bank your 09 points and then try to rent or transfer your 08 and 10 points. I haven't been in your situation, but somehow, I think I would feel less nervous about renting the points or transferring them than I would waiting until 30 days before the trip to rent the reservation. At least you would know your 09 points are not going to be lost. Good luck with your decision!

 

[Deb & Bill]

If your trip isn't until January, you can cancel, bank your 09 points and then try to rent or transfer your 08 and 10 points. I haven't been in your situation, but somehow, I think I would feel less nervous about renting the points or transferring them than I would waiting until 30 days before the trip to rent the reservation. At least you would know your 09 points are not going to be lost. Good luck with your decision!

The OP can't transfer either the banked or borrowed points, only current year points.

 

[Disney Princess]

The OP can't transfer either the banked or borrowed points, only current year points.

Yes, you are correct. Sorry that I made that mistake. I wasn't even thinking!

 

[nunzia]

OK..so..let me see if I have this right.
Option A: Keep reservation and try to rent some where other than Dis
Option B: Cancel reservation, bank 09 points, then try and rent 08 and 10 points which must be used by Feb 28?

I have until Oct 31 to bank even though the last day in February is the 28th?

 

[Deb & Bill]

...I have until Oct 31 to bank even though the last day in February is the 28th?

Yes, four months, not a specified number of days.