Banking StarOptions [Important update 2/13/12!]

[NerdAlert]

For clarification, by "elite status of weeks", I simply meant if you would run down a list of an owner's weeks, you could easily classify them as elite or non-elite. In other words if you drew a Venn diagram of a timeshare owner's weeks, the ones used for elite would be in the ring labelled elite and the ones not used for elite would not. Or if an owner listed their weeks vertically on a piece of paper, they could write an "e" next to the ones used for elite, and a different letter, probably an "x" or an "n", next to the others. It can be done many ways.

 

[Ken555]

Aren't you really just trying to say there's a difference between developer purchased (or requalified) weeks vs resale weeks? I think you're making this overly complicated.

 

[KACTravels]

I was on the phone today with Elite Customer Service and asked for clarification. She checked each of our weeks (all developer purchases - please don't judge me) and specifically noted that EACH one was tagged as 4*.

 

[hacker0124]

Banking StarOptions

Bank unused StarOptions anytime after October 1 of the Use Year prior to the Use Year being banked, and no later than July 1 of the Use Year you are banking. The Three-Star and Four-Star Elite request deadline is October 1 of the Use Year, and Five-Star have until December 31 of the Use Year.

Cost - $99
Three-Star and Four-Star Elite - Cost $79
Five-Star - No Cost

 

[MON2REY]

This may have been covered before but I didn't see it. Are there any restrictions as far as use of Banked Staroptions go (i.e. can they be used just like regular options at the 8 month or 3 month mark)? Can a week's worth of banked options be split and used 3 days at one location and 4 at another (presumably at the 90 day mark)? Thanks for any info.

 

[DeniseM]

This may have been covered before but I didn't see it. Are there any restrictions as far as use of Banked Staroptions go (i.e. can they be used just like regular options at the 8 month or 3 month mark)? Can a week's worth of banked options be split and used 3 days at one location and 4 at another (presumably at the 90 day mark)? Thanks for any info.

They can be used like any Staroptions, starting at 8 mos. out from check-in.

 

[cebus5]

Staroptions

I think I did something really stupid today! I got a letter from SVN that the resale SDO that I just bought has just been transferred to my name and that I should register @ mystarcentral.com. Upon registering and exploring the site, I noticed, among other things, that I had a balance on my Staroptions. I called SVN to find out how to go about linking my SDO unit to my II account. Then I asked the rep if I could make a request to reserve a unit at other Starwood Resorts since I noticed that that option was available to me on the website. That's when she noticed that I had bought the unit resale, so she straightened my account out.
:ignore::ignore:.

 

[DeniseM]

I think I did something really stupid today! I got a letter from SVN that the resale SDO that I just bought has just been transferred to my name and that I should register @ mystarcentral.com. Upon registering and exploring the site, I noticed, among other things, that I had a balance on my Staroptions. I called SVN to find out how to go about linking my SDO unit to my II account. Then I asked the rep if I could make a request to reserve a unit at other Starwood Resorts since I noticed that that option was available to me on the website. That's when she noticed that I had bought the unit resale, so she straightened my account out.
:ignore::ignore:.

Chances are that the owner you bought from bought from the developer and had Staroptions which they accidentally transferred to you. This is a common error made by Starwood, and they always catch it - you wouldn't have been able to keep the Staroptions.

 

[cebus5]

Chances are that the owner you bought from bought from the developer and had Staroptions which they accidentally transferred to you. This is a common error made by Starwood, and they always catch it - you wouldn't have been able to keep the Staroptions.

Thanks, Denise! I wanted to kick myself earlier; I feel so much better!

 

[patsfan]

Is the policy change noted in post #155 still the rule -- if you cancel your reservation within 60 days, the restricted StarOptions are not eligible for banking? I can no longer find that language/policy in the FAQs on mystarcentral. Wishful thinking?

 

[DeniseM]

Is the policy change noted in post #155 still the rule -- if you cancel your reservation within 60 days, the restricted StarOptions are not eligible for banking? I can no longer find that language/policy in the FAQs on mystarcentral. Wishful thinking?

As far as I know.

 

[jarta]

No change. Can't bank restricted StarOptions. Salty

 

[Sunnydude]

Guess I should have read the post and information more clearly. We banked our 2012 Options and recently made a reservation for WKV for Thanksgiving. Went to Interval to place exchange request using our 2013 Options and it was rejected. Called owner services and that is when she said the banked options are only good for 8 month window. Not sure that we will have a problem getting into WKV for thanksgiving if we wait until March to book but wish I didn't have to decide how to proceed.

 

[VacationForever]

Guess I should have read the post and information more clearly. We banked our 2012 Options and recently made a reservation for WKV for Thanksgiving. Went to Interval to place exchange request using our 2013 Options and it was rejected. Called owner services and that is when she said the banked options are only good for 8 month window. Not sure that we will have a problem getting into WKV for thanksgiving if we wait until March to book but wish I didn't have to decide how to proceed.

You cannot make an II exchange using banked options. You should have deposited in II by Dec 31 of the use year if you plan on using it for exchange.

If you use mystarcentral then yes you can only do so at 8 months.

 

[Sunnydude]

You cannot make an II exchange using banked options. You should have deposited in II by Dec 31 of the use year if you plan on using it for exchange.

If you use mystarcentral then yes you can only do so at 8 months.

Yeah...I thought my reservation for WKV was done with my banked options...that is what threw me. Will get it all straightened out. Shouldn't be a problem to fix it come march.

 

[ValleyGirl]

Guess I should have read the post and information more clearly. We banked our 2012 Options and recently made a reservation for WKV for Thanksgiving. Went to Interval to place exchange request using our 2013 Options and it was rejected. Called owner services and that is when she said the banked options are only good for 8 month window. Not sure that we will have a problem getting into WKV for thanksgiving if we wait until March to book but wish I didn't have to decide how to proceed.

If you reeaally want a specific week - you sometimes can use starpoints to reserve. Of course it will require more starpoints than you receive from conversion so you will need to have some extra SPs in your SPG account.

 

[Ken555]

I just banked my remaining options for this year. I didn't realize (or remember) that banked options are good for two years. Last year I had to bank since I was traveling too often for business and didn't have time to use my SOs (great timing on SVN offering banking, at least to me). This year I wasn't able to use all the SOs (even with 22 nights in 2013 with SOs) so just banked again. However, I learned that since these banked options are good for two years (expiring 12/31/15) next year I will use my 2014 SOs before using the banked options. Had I done this earlier this year I would have saved the $99 banking fee today since I would still have the 2012 SOs available for use in 2014. The rep I got today explained it to me and was quite helpful about this issue, whereas the other reps I spoke with earlier this year encouraged me to use my banked options before this year's options. Anyway, I'm just glad that I now know which to select in future.

 

[SMHarman]

I just banked my remaining options for this year. I didn't realize (or remember) that banked options are good for two years. Last year I had to bank since I was traveling too often for business and didn't have time to use my SOs (great timing on SVN offering banking, at least to me). This year I wasn't able to use all the SOs (even with 22 nights in 2013 with SOs) so just banked again. However, I learned that since these banked options are good for two years (expiring 12/31/15) next year I will use my 2014 SOs before using the banked options. Had I done this earlier this year I would have saved the $99 banking fee today since I would still have the 2012 SOs available for use in 2014. The rep I got today explained it to me and was quite helpful about this issue, whereas the other reps I spoke with earlier this year encouraged me to use my banked options before this year's options. Anyway, I'm just glad that I now know which to select in future.

Yes, I had a similar conversation today. The other take out was banked options can only be used at the 8 month mark so if you want to make a home resort reservation 12-8m you have to use the current year allotment anyway.

I was thinking that at 8 m you can cancel your home resort reservation without penalty and replace it with a banked option booking. I guess this would assume you have a backlog of StarOptions you are not going to get through in an 24 m period and need to re-roll (effectively rolling 2014 into 2016).

 

[DeniseM]

I was thinking that at 8 m you can cancel your home resort reservation without penalty and replace it with a banked option booking. I guess this would assume you have a backlog of StarOptions you are not going to get through in an 24 m period and need to re-roll (effectively rolling 2014 into 2016).

If you own a deeded view - you will lose your view if you do this. You only get your deeded view with a home resort reservation.

 

[DavidnRobin]

Had I done this earlier this year I would have saved the $99 banking fee today since I would still have the 2012 SOs available for use in 2014.

If you are 5* - there is no SO banking fee (just another reason to become 5*...) - :ignore:

Actually... had a hard time deciphering what you meant here - how do you save the $99 banking fee?

Yes, I had a similar conversation today. The other take out was banked options can only be used at the 8 month mark so if you want to make a home resort reservation 12-8m you have to use the current year allotment anyway.

I was thinking that at 8 m you can cancel your home resort reservation without penalty and replace it with a banked option booking. I guess this would assume you have a backlog of StarOptions you are not going to get through in an 24 m period and need to re-roll (effectively rolling 2014 into 2016).

SOs used with SO Banking is only for SVN reservations at <8months (as Denise points out - you lose you view priority since it is a SVN exchange)

 

[SMHarman]

If you are 5* - there is no SO banking fee (just another reason to become 5*...) - :ignore:

Ah but you bought retail, how many $99 do I save not buying retail

SOs used with SO Banking is only for SVN reservations at <8months (as Denise points out - you lose you view priority since it is a SVN exchange)

The view priority is really only applicable to two destinations in SVN!

 

[DavidnRobin]

Ah but you bought retail, how many $99 do I save not buying retail

The view priority is really only applicable to two destinations in SVN!

I bought retail? Not true (only WPORV EOY) - and I am not 5*. The 5* comment was intended as sarcasm for Ken. Thus the laughing and ignore similies.

Doesn't WLR now have a separate view catagory?
{I do not own WLR, but thought I heard they were selling a new view catagory now}

Also, WPORV may have only 1 view catagory - but there is a huge difference within the resort for location - which based on my experience (2 for 2) the best locations goes to Owners of WPORV.

 

[jarta]

^^^ David, All the units at Lagunamar have some sort of view of the ocean.

There are, however, units called Ocean Side. They are in the 1st tier of 2-br lockoffs nearest the beach (the 1-2 units at the ends of Buildings 1, 9 and 14 in the opening of the 2 semi-circles of buildings).

Very nice views. I have one. It's not a fixed Event Week. It's just a Platinum float. However, I bought the 5th Floor Ocean Side 2-br unit in Building 1 during Week 7 in case I ever decide to convert and fix it as an Event Week.

Last year I went there. The MF is the same as non-Ocean Side 2-brs. Ocean Side units are a separate inventory pool. Salty

 

[SMHarman]

I bought retail? Not true (only WPORV EOY) - and I am not 5*. The 5* comment was intended as sarcasm for Ken. Thus the laughing and ignore similies.

Doesn't WLR now have a separate view catagory?
{I do not own WLR, but thought I heard they were selling a new view catagory now}

Also, WPORV may have only 1 view catagory - but there is a huge difference within the resort for location - which based on my experience (2 for 2) the best locations goes to Owners of WPORV.

my comment was also intended as sarcasm. Thus the tongue out smiley (not a metaphor - LOL, that's a great typo).
WLR also has OF and OV (no IV) so yes if you have OF there you would want to be using home period advantage but similarly to WKORV there is very little OF (probably in the order of 25 OV to 1 OF).

Last year I went there. This year I converted the MF to Starpoints since the conversion ratio is higher for Ocean Side 2-br units, although the MF is the same as non-Ocean Side 2-brs. Ocean Side units are a separate inventory pool. Salty

I guess *W have sold most of those as TS units so want some back into hotel inventory and will pay more StarPoints to make that happen?

 

[SMHarman]

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