Leftover Staroptions

[cubigbird]

So I have 550 Staroptions remaining unused for 2017. Is there any reason I should bank them or just let them go? I can't just justify the expense just to bank 550 options. I'm not seeing a strategy I can use with them. The reason I have 550 options left is because I used my WKV week to travel in a lower season, resulting in more nights and costing less options, plus 1 night booked at another resort that we are pre-extending at before a work meeting. All in all I am getting 10 nights out of my WKV week so there's no question of value, but again that means I have 550 options left. Am I missing any strategies here? I just hate to see options go unused....

 

[dioxide45]

I asked a similar question in post #204 of the Banking StarOptions [Important update 2/13/12!] thread. I was asking about banking 1800 SOs. It was a tough call. We don't end up needing to bank that few this year. It was mentioned, that it seems when you don't bank them you will end up being a few hundred short for a reservation you need in the next year or two. It is a tough call to determine if it is worth the $99 fee.

 

[cubigbird]

Yeah I saw that and that was a while ago. My situation is also 550 options, far fewer.....

 

[dioxide45]

What kind of SO usage will you have next year? Will you have more or less than 550 left over next year? If more, then it may not make sense to bank. But if you will have less than 550 (including the banked) you may want to bank this year, it would be only $99 for the two years since you won't have to pay the banking fee next year.

 

[SMHarman]

Financially the answer is no unless you model out your SO usage for 2017 and find you need any of them.

Then it makes sense.

The 2017 calendar is published so you can build your plan and see if it comes to 148101 > 148650 SO.

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[vacationtime1]

Financially the answer is no unless you model out your SO usage for 2017 and find you need any of them.

Then it makes sense.

The 2017 calendar is published so you can build your plan and see if it comes to 148101 > 148650 SO.

The $99 banking fee is about a third or a fourth of the cash price for a hotel room for a night. 650 StarOptions is not worth nearly as much. So unless you fall within the narrow band described above, let the SO's go.

 

[nativesun1979]

Is it one fee if ypu have SO left over from multiple different weeks or is it one fee per week with SO remaining?

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[mauitraveler]

Is it one fee if ypu have SO left over from multiple different weeks or is it one fee per week with SO remaining?

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You can bank as many or as few SO from multiple weeks for the one fee.

 

[dioxide45]

Is it one fee if ypu have SO left over from multiple different weeks or is it one fee per week with SO remaining?

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What if you bank some StarOptions early and call back to bank more. Is there another fee? The material online seems to indicate it is a per transaction fee. So I would expect two fees?

 

[mauitraveler]

What if you bank some StarOptions early and call back to bank more. Is there another fee? The material online seems to indicate it is a per transaction fee. So I would expect two fees?

Yes, it is per transaction. That's why it's important to try to estimate the number of SO you might need to use, in case you don't want to bank all of the left over SO.

 

[SMHarman]

What if you bank some StarOptions early and call back to bank more. Is there another fee? The material online seems to indicate it is a per transaction fee. So I would expect two fees?

Yes, it is per transaction. That's why it's important to try to estimate the number of SO you might need to use, in case you don't want to bank all of the left over SO.

And also to this extent, once banked they are gone from that use year. Now borrowing exists I imagine you can borrow back, for another fee.

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[BLUE AYES]

There is no fee for borrowing but the next years maintenance fees need to be paid before a borrow can be put in.

 

[DanTUG]

New to Vistana - I understand that

• Once you bank points (before the deadline, e.g., on June 30, 2016) you cannot use them for any stays during the remainder of that year (2016)
• However, you can access them immediately for reservations for the following year (e.g., on July 10, 2016 you could use your banked points to make a reservation for July 10, 2017)
• Your banked points remain in your account for up to three years with no additional banking fee (e.g., if you don't use all of your points banked on June 30, 2016, you don't need to pay another banking fee in 2017 for those points that are unused). You would, however, have to pay a new banking fee if you had 2017 points that you were not going to use

Can someone confirm if I am understanding this correctly? Thank you.

 

[vacationtime1]

New to Vistana - I understand that

• Once you bank points (before the deadline, e.g., on June 30, 2016) you cannot use them for any stays during the remainder of that year (2016)
• However, you can access them immediately for reservations for the following year (e.g., on July 10, 2016 you could use your banked points to make a reservation for July 10, 2017)
• Your banked points remain in your account for up to three years with no additional banking fee (e.g., if you don't use all of your points banked on June 30, 2016, you don't need to pay another banking fee in 2017 for those points that are unused). You would, however, have to pay a new banking fee if you had 2017 points that you were not going to use

Can someone confirm if I am understanding this correctly? Thank you.

I believe you are correct on the first point.

You are generally correct on the second, but the example you give would not work. If you had banked StarOptions prior to the banking deadline, then on July 10, 2016, you could have made reservations for up to March 10, 2017, because they would be limited to eight months out.

Banked StarOptions are good for two calendar years beyond the use year. So those 2016 StarOptions banked on June 30, 2016 can be used for travel beginning up to December 31, 2018.

 

[DanTUG]

Very helpful. Thanks for the important clarification on the 8 month window for banked points. Assume that applies to home resort as well? In other words, banked points are "different" than points when they are initially granted?

 

[vacationtime1]

Very helpful. Thanks for the important clarification on the 8 month window for banked points. Assume that applies to home resort as well? In other words, banked points are "different" than points when they are initially granted?

Banked StarOptions show in your account as banked StarOptions; they are not associated with your unit.

Look at it like this: if your banked options were usable at the twelve month mark at your home resort the next year, it would be as if there were 53 owners with equal rights to the 52 available weeks.

 

[r1lee]

Dan,
Call staroptions what they are, or SO's. Points refer to spg points, which some members here have with their timeshare.

Also once banked, it's better to use the next years SO's before the banked SO's when reserving.

 

[DanTUG]

Banked StarOptions show in your account as banked StarOptions; they are not associated with your unit.

Look at it like this: if your banked options were usable at the twelve month mark at your home resort the next year, it would be as if there were 53 owners with equal rights to the 52 available weeks.

That makes sense. Eight month window keeps things fair and workable.

 

[DanTUG]

Dan,
Call staroptions what they are, or SO's. Points refer to spg points, which some members here have with their timeshare.

Also once banked, it's better to use the next years SO's before the banked SO's when reserving.

Good point StarOptions not points. To see if I'm tracking, use next year's SOs before the banked ones because:

• Full 12 month window at home resort
• Don't want to find yourself paying for banking your new SOs if you just use your banked SOs
• Take advantage of the 3 year consumption flexibility with banked SOs

Right?

 

[r1lee]

Yup

 

[dioxide45]

Good point StarOptions not points. To see if I'm tracking, use next year's SOs before the banked ones because:

• Full 12 month window at home resort
• Don't want to find yourself paying for banking your new SOs if you just use your banked SOs
• Take advantage of the 3 year consumption flexibility with banked SOs

Right?

I think you have the concept correct, but the terminology might be confusing. There is really a 3 year consumption of StarOptions. Once banked, the consumption window drops to two years. Just something to be aware of, if you were thinking otherwise.

 

[DanTUG]

I think you have the concept correct, but the terminology might be confusing. There is really a 3 year consumption of StarOptions. Once banked, the consumption window drops to two years. Just something to be aware of, if you were thinking otherwise.

Got it. Thanks.

 

[dsmrp]

I think also, if stuff happens and you later want to use your banked options this year, you can, provided you pay next year's MF.
I've not done it myself, but think I read it in another thread or heard from Vistana CS.

 

[dioxide45]

I think also, if stuff happens and you later want to use your banked options this year, you can, provided you pay next year's MF.
I've not done it myself, but think I read it in another thread or heard from Vistana CS.

You aren't really using your banked options, you end up just borrowing next years options and then next year you use the banked options. In effect it is the same as borrowing back banked options, but not technically the same.

 

[SMHarman]

You aren't really using your banked options, you end up just borrowing next years options and then next year you use the banked options. In effect it is the same as borrowing back banked options, but not technically the same.

Not at all technically the same. At that point you lose your home resort 12m booking window. For some that matters, for others not; personally I have never stayed at my home resort.

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