-
Welcome to the WDWMAGIC.COM Forums!
Please take a look around, and feel free to sign up and join the community.
Query re: Banking and Borrowing
- Thread starter RickEff
- Start date
DisneyPhD
Well-Known Member
We have yet to bank any points so I don't know first hand, but I believe that you can still borrow those points.
One catch with borrowing and banking is once you've moved points from one year to the next they cannot be returned to their original use year. They must be used in that year or they are lost.
There are also banking deadlines. After 6 months you can only bank 50% of the points and 9 months into a year you can only bank 25% and 10 months into the year you cannot bank any points.
The whole point system does take some getting used to but as I said we are always borrowing so we don't worry about the banking deadlines. Our use year starts every September, we currently have 7 points (of our 170) for the current use year that we haven't used (but we can now borrow from the 2006-07 year points! :sohappy:
One catch with borrowing and banking is once you've moved points from one year to the next they cannot be returned to their original use year. They must be used in that year or they are lost.
There are also banking deadlines. After 6 months you can only bank 50% of the points and 9 months into a year you can only bank 25% and 10 months into the year you cannot bank any points.
The whole point system does take some getting used to but as I said we are always borrowing so we don't worry about the banking deadlines. Our use year starts every September, we currently have 7 points (of our 170) for the current use year that we haven't used (but we can now borrow from the 2006-07 year points! :sohappy:
ZapperZ
Well-Known Member
RickEff said:
OK, since I signed up for the DVC 2 days ago, all of this info is still fresh in my head.
If you banked 100% of your points to next year (whenever your anniversary year starts) and then you realize you need to use it before then, then you borrow from next year. This means you are borrowing from a pool that has 200% of your points. That's what the sales rep. adviced us - that if we're unsure if we're going to be using our points, bank them before the 1st deadline. That way, if we find out that we need to use it before the start of our anniversary date, we can borrow out of that.
Zz.
disneynutt1225
New Member
ZapperZ said:
Well said. Basically, if you have 100 '05 points that you've banked and 100 '06 regular points, you would be able to borrow your 100 '06 points - just remember thtat your 100 '05 points have to be used in '06 or they will be lost. You can only bank once unfortunately.
T.E. Yeary
WDWMAGIC Sponsor
ZZ- Congratulations & Welcome Home!
HAPPY "MAGICAL" VACATIONING,
Tom :wave:
HAPPY "MAGICAL" VACATIONING,
Tom :wave: