EXPLANATION OF USE YEAR AND EFFECTIVE START AND END DATES
Example of a contract with a July-June use year.
Usage Year:  The year the points are paid for, always in July.

Effective Start and End Dates:  When the points can be used.  The July start date begins 12 months before you’ve paid for your points.  You are borrowing the points.

Use can start--------------Pay for points-----------------------------------Must use by.

7/1/10--------------------------6/30/11--------------------------------------------6/30/14 
 
Example of a contract with a January-December use year.
Usage Year:  The year the points are paid for, always in July.

Effective Start and End Dates:  When the points can be used.  The January start date begins 18 months before you’ve paid for your points.  You are borrowing the points.

Use can start----------------Pay for points-------------------------------------Must use by.

1/1/10--------6/30/10--7/1/10------------6/30/11--------------------------------------------12/31/13 

These points were paid for on 6/30/10