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New to HGVC with question on borrowing points

C

ColoradoSkiing

TUG Member
Joined
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Hi there! After doing some research on the best MF-to-points/purchase price-to-points properties, we found an 8,400 annual 2BR Plus/Platinum at the Boulevard. The only caveat is that the "first use" will be in 2023, which has led to a number of questions as first time owners. We have read on TUG that the best practice is to keep using up points and borrowing from next year in order to avoid point extension fees, but we are confused how this might work since our "first use" is not until next year.

Assuming the sale goes through and passes ROFR we have three scenarios in mind...

1. Scenario 1: Can owners borrow 2023 points for 2022 trips? (seems like a clear "yes" but wanted to confirm since our first use isn't until next year)
2. Scenario 2: Can owners book a 2023 trip using 2023 points the moment the 9-month rolling Club window opens, or do they need to wait until January 1 to start making reservations with next year's points?
3. Scenario 3: Let's say we want to take a 2023 trip that will also require borrowing 2024 points. Can owners confirm the trip as soon as the 9-month rolling Club window opens, or would they need to wait until January 1, 2022 to start borrowing 2024 points?
 
ColoradoSkiing said:
Hi there! After doing some research on the best MF-to-points/purchase price-to-points properties, we found an 8,400 annual 2BR Plus/Platinum at the Boulevard. The only caveat is that the "first use" will be in 2023, which has led to a number of questions as first time owners. We have read on TUG that the best practice is to keep using up points and borrowing from next year in order to avoid point extension fees, but we are confused how this might work since our "first use" is not until next year.

Assuming the sale goes through and passes ROFR we have three scenarios in mind...

1. Scenario 1: Can owners borrow 2023 points for 2022 trips? (seems like a clear "yes" but wanted to confirm since our first use isn't until next year)
2. Scenario 2: Can owners book a 2023 trip using 2023 points the moment the 9-month rolling Club window opens, or do they need to wait until January 1 to start making reservations with next year's points?
3. Scenario 3: Let's say we want to take a 2023 trip that will also require borrowing 2024 points. Can owners confirm the trip as soon as the 9-month rolling Club window opens, or would they need to wait until January 1, 2022 to start borrowing 2024 points?
Click to expand...

1. Yes
2. Yes as soon as 9 month window opens
3. To borrow 2024 points to be used for a 2023 reservation, you need wait until 2022


Sent from my iPhone using Tapatalk
 
Sounds like a good contract, you have all the basics of borrowing down. Book and take your trip before you have to pay the maint fees.

@natarajanv is correct, I think what needed to be added to #3 is after March 2022 because that is when the 9 month club season will open for 2023 (and be able to borrow from 2024).

Sent from my Lenovo 10e using Tapatalk
 
I haven't borrowed points yet, as a relatively new owner, but plan to do so in a couple of months. Do you have to borrow the points in a separate step before making a reservation, or can you borrow the points during the online reservation process? I would prefer to not borrow the points unless I know the availability of what I would like to reserve, if possible.

Best regards.

Mike
 
Borrowing is automatic. The system only borrows needed points from next year while making a reservation.


Sent from my iPhone using Tapatalk
 
Does it show the 2024 points now in case I want to use them for 2023 travel? Can't use 2024 points in 2022, right?
 
Correct. The 2024 points can only be used for either 2023 travel (if borrowed), 2024 or 2025 (if saved). By showing the points now it helps to plan for any 2023 club bookings you may want to make in 2022 calendar year.
 
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