Can banked points be used if we change our mind.

[Jespencer2107]

We currently have a contract pending on Disney's first right of refusal. The representative asked me if I wanted to go ahead and bank the 91 points left from 2019 to 2020 and I said yes. Mainly because we were planning on making our first trip for the food and wine festival. This is for a August contract. It's a 200-point contract, so in August I'll have 291 points as long as this goes through. My wife and I decided that we might want to use those 91 points before August. My question is will we be able to use this contract before August? Would this just be considered borrowing? I guess my confusion lies in if we can borrow banked points?

 

[ljcrochet]

Once banked they can only be used in the year you moved them to. But you can borrow other points for your reservation.

 

[LaurenT]

If there is a room available in a resort you want on a date before your 2020 use year begins, when you try to book it, you’ll be given the option of borrowing your 2020 points. Then you can just use your 91 points for F&W.

 

[Jespencer2107]

Perfect! Thank you both!

 

[Jenniebee]

The 91 points you banked have to stay there. But if you want to go before Aug you can borrow from the other 200 points you will be getting. They you will have whatever is left for the F&W trip. Hope that makes sense.

 

[jerseyduke]

I take it the points were already banked?
Your banking deadline isnt until March 31.
If you are unsure, contact the broker, perhaps they are not banked yet?

Your banking deadline is not until 3/31. You have some time.

Of course if they are banked, then you can borrow 2020 points as others have stated.

HOWEVER

Realize that if you borrow points, they can not be put back, it is a final transaction. Meaning, if you do, and you have to cancel the reservation you make, you only have to August 31 to use those points or they expire.

I myself would at least be mildly reluctant to borrow points far into my UY for this reason. Not saying do not do it, just be aware of the risk.

 

[LaurenT]

I take it the points were already banked?
Your banking deadline isnt until March 31.
If you are unsure, contact the broker, perhaps they are not banked yet?

Your banking deadline is not until 3/31. You have some time.

Of course if they are banked, then you can borrow 2020 points as others have stated.

HOWEVER

Realize that if you borrow points, they can not be put back, it is a final transaction. Meaning, if you do, and you have to cancel the reservation you make, you only have to August 31 to use those points or they expire.

I myself would at least be mildly reluctant to borrow points far into my UY for this reason. Not saying do not do it, just be aware of the risk.

I had to cancel a trip once that I had booked with borrowed points and knew I wouldn’t be able to use it within my timeframe. So I listed the existing reservation with David’s. Someone took it almost immediately and I actually made a profit on it over my maintenance and tax.

 

[Sandisw]

I take it the points were already banked?
Your banking deadline isnt until March 31.
If you are unsure, contact the broker, perhaps they are not banked yet?

Your banking deadline is not until 3/31. You have some time.

Of course if they are banked, then you can borrow 2020 points as others have stated.

HOWEVER

Realize that if you borrow points, they can not be put back, it is a final transaction. Meaning, if you do, and you have to cancel the reservation you make, you only have to August 31 to use those points or they expire.

I myself would at least be mildly reluctant to borrow points far into my UY for this reason. Not saying do not do it, just be aware of the risk.

They are in the process of buying so I think that is why they had to decide now so the contract went over for ROFR that way.