Chairman's Club Banking Benefit

[McFail]

Just a quick hitter here. The new benefits say that CC members can bank currents years use to the following two years. How does that work?

I'm really looking at banking 2016 points into 2017 but I can't see where they would be eligible for use in 2018.

In this particular case I need to bank points to make a 2017 reservation that I will have a reasonable chance at canceling. Then those points are trapped in 2017?

Help appreciated!

Thanks!

 

[GregT]

Just a quick hitter here. The new benefits say that CC members can bank currents years use to the following two years. How does that work?

I'm really looking at banking 2016 points into 2017 but I can't see where they would be eligible for use in 2018.

In this particular case I need to bank points to make a 2017 reservation that I will have a reasonable chance at canceling. Then those points are trapped in 2017?

Help appreciated!

Thanks!

If you are Chairman's Club and you bank your Elected Points with an initial Use Period of 1/1/16 - 12/31/16, then the new Use Period becomes 1/1/17 - 12/31/18.

If you make a 2017 reservation and then cancelation, the points are restored with the banked usage period of 1/1/17 - 12/31/18 (unless the cancelation occurs within 60 days of check-in, then they become restricted points, and I do not know if they are trapped in 2017).

I hope that helps!

Best,

Greg

 

[McFail]

Makes sense. I guess that when I bank them they will show up with a wider ranging usage date. Thanks!

 

[BocaBoy]

If you make a 2017 reservation and then cancellation, the points are restored with the banked usage period of 1/1/17 - 12/31/18 (unless the cancellation occurs within 60 days of check-in, then they become restricted points, and I do not know if they are trapped in 2017).

In the event of cancellation within 60 days, I am pretty sure they would still be able to be used through the end of 2018, but of course only for reservations less than 60 day out. Shortening the usage period would not be consistent with the way other things work.

 

[dioxide45]

In the event of cancellation within 60 days, I am pretty sure they would still be able to be used through the end of 2018, but of course only for reservations less than 60 day out. Shortening the usage period would not be consistent with the way other things work.

I can't find anything in the Exchange Procedures document that would restrict the banked holding account points to the current year if a reservation is cancelled. There is a restriction on borrowed points though.

 

[SueDonJ]

When the new status tiers were announced there was some confusion on TUG about the banking/cancellation rules because two different reps gave two different answers to two TUGgers who asked questions. What's quoted below is taken from the DC Points FAQ:

*MVW has clarified for TUG the rules related to cancelling reservations booked using Banked Points, as follows. See this post and others in the same thread.

"Reservations cancelled 61 days or more prior to the check-in date are returned to the Owner’s account and may be used again prior to the (banked) expiration date. However, in the case of an Advance Priority Reservation, the Points required as the premium for the reservation will be returned to the Owner’s Holding Account and subject to the restrictions on Holding Accounts."

"If the owner cancels a reservation from 60 to 1 days prior to the check-in, the Points will be returned in to the Owner’s Holding Account but they would still have until the (banked) expiration date to use them, and the Points used for the premium for an Advance Priority Reservation will be forfeited."

 

[tiel]

We recently attended a sales presentation at Grande Vista, and the rep told us there were no more holding accounts for Chairman's Club level owners. We expressed doubt, but she assured us she was correct. Did not ask for written proof. Guess this is one of those "if their lips are moving" situations.