With a few days to digest the recently announced banking and borrowing changes as a result of the ongoing Disney Vacation Club Resort closures, members still have many questions about how these new policies will affect their vacation plans. Today, we will dig in a bit further and answer some of the questions we have seen frequently asked in the DVC Fan Facebook Group, as well as over on DISboards.
As a quick review, here are a few of the key takeaways from the recently announced changes:
- Members with April and June use years who have points that are expiring, and who had a stay booked between March 12th and the end of the closure, or a reservation canceled after February 29th will have their points extended as follows:
- 2019 Points that were set to expire in 2020 will be extended for one year. (Essentially meaning they are banked into 2020)
- 2018 Banked Points set to expire will be extended for six months. For April use years, this means the points will now expire on September 30th, 2020. For June use years, these will now expire on November 30th, 2020.
- Due to anticipated availability issues, DVC has temporarily limited point borrowing for all members. Members will only be able to borrow up to 50% of their future use year points per contract.
- In regards to annual dues, it has been proposed that if a resort has an operating surplus at the end of this year, that amount will be issued as a credit to Members toward 2021 annual dues.
Q: I have a vacation planned that has already used more than 50% of my borrowed points for next year. Am I affected by these changes?
No – Members with reservations booked prior to the new guidelines being issued will not have their vacation plans affected.
Q: I previously transferred my vacation points to RCI so that they would not be lost. Can I now get these back?
DVC and RCI are allowing members with a June Use Year with points that were transferred to RCI as a result of expiration to return to DVC with no penalty. These points will then be subject to the extensions listed above.
Q: If I have a current reservation and planned to modify this reservation at 7-months, which would use more than 50% of my borrowed points from the next year, will this be allowed?
No – Based on reports we have read, any modification would need to be equal to or less than the total number of points already used for that reservation if you are already over the 50% threshold.
Q: I have a waitlist associated with an upcoming stay that, if fulfilled, will use more than 50% of my borrowed points. Will I still get this waitlist?
Yes – If the waitlist were made prior to Friday – April 24th, it would be fulfilled regardless of whether you go over the 50% limit.
Q: What does DVC mean when it says they will not extend the life of expiring “developer points”?
As the developer of a resort, once points are declared, DVC can utilize these in any manner they wish until they are sold. Essentially, in this statement, they are saying that although they would be entitled to the same extensions being granted to members, they are forgoing this to allow for more availability. We do not believe this pertains to any member points.
Q: I previously purchased one-time-use points that were affected by the closure. What happens to these points?
DVC has stated that they will refund one-time-use points from a canceled reservation upon request.
Q: These new borrowing rules will severely impact my future vacation plans. Are they allowed to do this?
Unfortunately, Yes. Disney Vacation Club has always had the right to limit borrowing in the event of unforeseen circumstances. They state, “To maintain a proper balance of Vacation Points in the central reservation system, borrowing may be suspended or limited from time to time.”
We hope that this helped answer some of the lingering questions you had regarding the current changes. Please note that our answers are not official and are primarily based on our interpretation of the new policies, as well as reports from fellow DVC Members. We would highly encourage everyone to call Member Services at 800-800-9800 for guidance regarding how their individual situation will be handled.
If you have a question we didn’t answer, feel free to leave it in the comments, and we will try to get you an answer!