Banking Points?

[TravelTime]

I am wondering if it makes sense to go ahead and bank my 2020 points already. What are the pros and cons to banking right now? Can I still use banked points for 2020 travel? If I cancel a trip with banked points, do the banked points go back to 2021? Are there any restrictions to using banked points for travel?

 

[Steve Fatula]

1. Can I still use banked points for 2020 travel?

You cannot borrow banked points. So, once you bank this years, you cannot use them this year. Which really shouldn't be a big deal, you can use next years instead.

2. If I cancel a trip with banked points, do the banked points go back to 2021?

Yes, this is why #1 is a-ok really, and better even as later in the year, if you use 2020 points, you'll likely lose them if you have to cancel since you'd only have a few months to use them. I always bank my points and use borrowed for second half of the year for this very reason. And it works the same for holding account points. As you know, I always cancel and rebook. So, since I am using next years points for the original reservation in later in the year cases, the holding account points also go back to their original use year and therefore I have more time to use them.

3. Are there any restrictions to using banked points for travel?

Not really, has to be within the use period like any point.

 

[Pamplemousse]

I am wondering if it makes sense to go ahead and bank my 2020 points already. What are the pros and cons to banking right now? Can I still use banked points for 2020 travel? If I cancel a trip with banked points, do the banked points go back to 2021? Are there any restrictions to using banked points for travel?

I just looked this up for myself yesterday.
From MVC-
Bank Points
You may bank some or all of your Vacation Club Points to be used in a following Use Year as outlined in the chart below. Once banked, Vacation Club Points must be used within the designated period and may not be borrowed back, banked again or transferred to another Owner.

Owners Login | Marriott Vacation Club

owners.marriottvacationclub.com

 

[Fasttr]

2. If I cancel a trip with banked points, do the banked points go back to 2021?

Yes, this is why #1 is a-ok really, and better even as later in the year, if you use 2020 points, you'll likely lose them if you have to cancel since you'd only have a few months to use them. I always bank my points and use borrowed for second half of the year for this very reason. And it works the same for holding account points. As you know, I always cancel and rebook. So, since I am using next years points for the original reservation in later in the year cases, the holding account points also go back to their original use year and therefore I have more time to use them.

Your reply was for borrowed points, not banked points. Just wanted to point that our so nobody is confused.

 

[Steve Fatula]

Your reply was for borrowed points, not banked points. Just wanted to point that our so nobody is confused.

Hmm, not seeing it. Her #1 question was about borrowing banked points (an assumption). Answer is correct. Her #2 was a little confusing as it was about canceling a trip made with banked points, and do they go back to 2021. Therefore, she must be presidential or above (and I happen to know she is), and, cancelling that trip WOULD go back to 2021, at least mid year possibly year end. If she has banked points from last year, they are good to either end of June 2021 or end of Dec 2021. Which part is wrong? Please elaborate why you say that, not seeing it, but could be I made a wrong assumption. I will correct if necessary.

 

[Fasttr]

Hmm, not seeing it. Her #1 question was about borrowing banked points (an assumption). Answer is correct. Her #2 was a little confusing as it was about canceling a trip made with banked points, and do they go back to 2021. Therefore, she must be presidential or above (and I happen to know she is), and, cancelling that trip WOULD go back to 2021, at least mid year possibly year end. If she has banked points from last year, they are good to either end of June 2021 or end of Dec 2021. Which part is wrong? Please elaborate why you say that, not seeing it, but could be I made a wrong assumption. I will correct if necessary.

I thought her thought #2 was a continuation of her thought #1. I thought she was asking, if she banks 2020 points forward to 2021, can she still use those same points in 2020. And further, if she can do that, and cancels that 2020 ressie, will the points go back into 2021. Because #1 is no, #2 is not applicable. I know you know, but was trying to clarify if somebody else read your #2 and then the Yes as a reply and stopped there.

 

[Steve Fatula]

I guess it is ambiguous then. I could see how you might read it that way. But since as you say #2 was not applicable, I came up with something that might fit what she was asking.

 

[Big Matt]

OP, here is what you should do........nothing right now. There's zero reason to bank until you get closer to the cut off date. Once you bank them you can't use them for anything this year. Who knows if you will find something before the banking cut off that you really want to use them for THIS year.

 

[Steve Fatula]

There is no real harm in banking, You simply borrow from the next year if you find something before the cutoff. I generally wait, but, it's just a preference. I would not feel the least bit bad banking Jan 1. But I never have plans for more points for a given year than I had. That would be the only time it could matter.

 

[TravelTime]

@Steve Fatula answered my questions. I like the idea of using borrowed points for late year reservations so that if I need to cancel, they go back into the next year. I also agree with @Big Matt that I will wait until a bit later in the year to bank. I am not planning trips for this year at the moment but that could change so I might as well wait. I just wanted to better understand how banking works. Thanks to everyone who responded.

 

[Fasttr]

@Steve Fatula answered my questions. I like the idea of banking the points and using banked points for late year reservations so that if I need to cancel, they go back into the next year. I also agree with @Big Matt that I will wait until a bit later in the year to bank. I am not planning trips for this year at the moment but that could change so I might as well wait. I just wanted to better understand how banking works. Thanks to everyone who responded.

If you bank the points, you cannot use your banked points for a late reservation this year. That is what I was trying to clarify earlier In the thread. You would have to borrow from next years unrestricted points to do what Steve was explaining.

 

[TravelTime]

If you bank the points, you cannot use your banked points for a late reservation this year. That is what I was trying to clarify earlier In the thread. You would have to borrow from next years unrestricted points to do what Steve was explaining.

Yes, I wrote that wrong. I meant to say borrowed points. I would need to borrow from the next year to use them this year and then if I cancel, the points go back into next year. Is that correct?

 

[Fasttr]

Yes, I wrote that wrong. I meant to say borrowed points. I would need to borrow from the next year to use them this year and then if I cancel, the points go back into next year. Is that correct?

Yes. You’ve got it.

 

[Steve Fatula]

Yes, I wrote that wrong. I meant to say borrowed points. I would need to borrow from the next year to use them this year and then if I cancel, the points go back into next year. Is that correct?

Yeah, something was off and I tried to guess what you meant. Glad we are all on the same page. Most importantly, glad you got your questions answered! Love TUG.