# To cancel.or not cancel?



## Redeyestired (Aug 29, 2019)

Hi Guys and Gals,

I have read enough posts to write a respectful cancellation letter and will be sending a rescinding letter later this afternoon. I will be adding my request to also cancel, although not necessary, the promissary loan. What are your thoughts for canceling the Barclays Master Credit Card I was approved for. Bluegreen Vacations added $2200 to it. I haven't received the card and don't know the interest or if it's an annual fee. I have already took the Hard Credit inquiry hit. Canceling will also create another hit. No Bueno. Don't need the card. Wait for the refund and ....


----------



## Grammarhero (Aug 29, 2019)

Redeyestired said:


> Hi Guys and Gals,
> 
> I have read enough posts to write a respectful cancellation letter and will be sending a rescinding letter later this afternoon. I will be adding my request to also cancel, although not necessary, the promissary loan. What are your thoughts for canceling the Barclays Master Credit Card I was approved for. Bluegreen Vacations added $2200 to it. I haven't received the card and don't know the interest or if it's an annual fee. I have already took the Hard Credit inquiry hit. Canceling will also create another hit. No Bueno. Don't need the card. Wait for the refund and ....



Don’t worry.  You will lose at most 10 points, which will eventually recover. There are people who defaulted on TS losing 50 points.  What was the total price of your TS?  What was the value of the loan?


----------



## Rolltydr (Aug 29, 2019)

Redeyestired said:


> Hi Guys and Gals,
> 
> I have read enough posts to write a respectful cancellation letter and will be sending a rescinding letter later this afternoon. I will be adding my request to also cancel, although not necessary, the promissary loan. What are your thoughts for canceling the Barclays Master Credit Card I was approved for. Bluegreen Vacations added $2200 to it. I haven't received the card and don't know the interest or if it's an annual fee. I have already took the Hard Credit inquiry hit. Canceling will also create another hit. No Bueno. Don't need the card. Wait for the refund and ....


IMHO if you don’t need the credit card, don’t get it. I don’t know about Bluegreen but I had a Wyndham Barclay’s card until a couple years ago. I used the points to pay my mf’s. Then, Wyndham decided to decrease the dollar value of the points by about 15%. I cancelled the Barclays card and went to a cashback card that is better for me. I pay my balance every month so I don’t have to pay any interest but if you don’t pay it every month the card has a pretty high interest rate, I think.


----------



## bogey21 (Aug 29, 2019)

Redeyestired said:


> Don't need the card. Wait for the refund and ....



When you get the Card and can verify that the balance is zero decide if you really need another card.  If not, cancel it.  You will then have one less avenue for consumer fraud to worry about.  Personally I am down to one card that I monitor daily...

George


----------



## Redeyestired (Aug 29, 2019)

Grammarhero said:


> Don’t worry.  You will lose at most 10 points, which will eventually recover. There are people who defaulted on TS losing 50 points.  What was the total price of your TS?  What was the value of the loan?




The Loan was about $16K. After the credit card down payment. I will save $34K by sending in the rescind letter. I'm actually hand writing it now. May go and type it at Staples idk. Yeah. It's crazy. I was all for it until  I went over everything at home.  Read the closing documents. 100.94%! Another 15K in interest!


----------



## Grammarhero (Aug 29, 2019)

Redeyestired said:


> The Loan was about $16K. After the credit card down payment. I will save $34K by sending in the rescind letter. I'm actually hand writing it now. May go and type it at Staples idk. Yeah. It's crazy. I was all for it until  I went over everything at home.  Read the closing documents. 100.94%! Another 15K in interest!



Better to type!  That way, BG can’t claim the letter was ineligible.  Be sure whoever signed the TS contract also signs the rescission letter.  Send the letter certified and keep copies until you get the refund.


----------



## Redeyestired (Aug 29, 2019)

Thank You All for your input and I am thankful for this forum. I literally was about to convince myself I made a good decision and go for it all. My mind would not let me. I read what was not discussed and had to research fast. That's how I found this website. I'm trying to get this letter to USPS before noon. Keep the rrplys coming as I am interested in a better vacation experience with condos and resorts at an affordable cost.


----------



## Redeyestired (Aug 29, 2019)

Yeah I'm going to type it up. I'm the only one that signed a zillion papers like there wouldn't be hidden verbiage that should ha e been discussed. Smh


----------



## Redeyestired (Aug 29, 2019)

Should I send copies of closing disclosure and Authorization to Start ACH payment Processing?


----------



## Rolltydr (Aug 29, 2019)

Redeyestired said:


> Should I send copies of closing disclosure and Authorization to Start ACH payment Processing?



These are the instructions for rescinding.
HELP! How can I cancel/rescind my recent Wyndham timeshare purchase
https://r.tapatalk.com/shareLink?sh...ndham-timeshare-purchase.292041/&share_type=t


Sent from my iPad using Tapatalk


----------



## TheTimeTraveler (Aug 29, 2019)

Go to the USPS (United States Postal Service) and send your rescission letter via Certified Mail.  Retained a Xerox copy of your rescission letter and also retain the Postmarked Certified Mail Receipt in case you ever need to prove the date of mailing.





.


----------



## Passepartout (Aug 29, 2019)

Redeyestired said:


> Should I send copies of closing disclosure and Authorization to Start ACH payment Processing?


No harm in sending a COPY of the signature page of the contract for ID purposes. Add the line 'Promotional materials to be returned under separate cover', then send their junk back by cheapest means.

We're glad you found TUG in time. Welcome!

The credit card you applied for is a separate thing. Keep it until your down payment is credited, then do whatever you want with the card. My take is that it's an expensive (annually) card.

When the dust settles, we're happy to show you the magic of resale ownership. (or cheap rentals)

Jim


----------



## Fredflintstone (Aug 29, 2019)

Redeyestired said:


> The Loan was about $16K. After the credit card down payment. I will save $34K by sending in the rescind letter. I'm actually hand writing it now. May go and type it at Staples idk. Yeah. It's crazy. I was all for it until  I went over everything at home.  Read the closing documents. 100.94%! Another 15K in interest!



Kudos to you for reading the documents right away!  Yes, after reading them, most people slap
themselves on the side of the head and run to the post office to cancel.

It’s sad when people remain in la la land and realize too late they were hosed. Kind of like the old days when the Indian traded all their expensive furs for a cheap blanket  and bottle of liquor. Then, when they sober up they realize they were taken.


Sent from my iPad using Tapatalk


----------



## Redeyestired (Aug 29, 2019)

It's on its way. I sent my rescind letter cerified with receipt, along with copies of the contract, promissory note, closing disclosure and authorization to start ACH payments.  In a separate priority box went all those books, cd and bag. Sure it would be fine without all the copies but it made me feel better to accompany them with the letter. Sigh. I'm giving them before November to reverse everything. Thanks again Everyone


----------



## Passepartout (Aug 29, 2019)

That was quick. Congrats!


----------



## Fredflintstone (Aug 29, 2019)

Redeyestired said:


> It's on its way. I sent my rescind letter cerified with receipt, along with copies of the contract, promissory note, closing disclosure and authorization to start ACH payments.  In a separate priority box went all those books, cd and bag. Sure it would be fine without all the copies but it made me feel better to accompany them with the letter. Sigh. I'm giving them before November to reverse everything. Thanks again Everyone












Sent from my iPad using Tapatalk


----------



## Redeyestired (Aug 30, 2019)

I forgot to send a copy of the rescind letter with the materials! Urghhh. There is only my name and address on the priority box. Smh


----------



## TheTimeTraveler (Aug 30, 2019)

Redeyestired said:


> I forgot to send a copy of the rescind letter with the materials! Urghhh. There is only my name and address on the priority box. Smh




They'll figure it out.  The real important thing is the rescission letter which I assume you have already done correctly....

Good move to have rescinded while you had that "open opportunity".




.


----------



## LannyPC (Aug 31, 2019)

Redeyestired said:


> I'm giving them before November to reverse everything.



Legally, they have up to 45 days to issue/credit you your refund but it usually does not take that long.  The one thing we caution people about in your situation is, if the refund/credit does not come as soon as you'd like it, do not panic and go making phone calls to the resort.  The people there might try to nag you into reversing your decision to rescind.  Also, once they receive your rescission letter, people from the resort might phone you trying to change your mind, so watch out for such phone calls.


----------



## NHIKERS (Aug 31, 2019)

[Advertising/soliciting is not permitted in the discussion forums.  You can post your Ad in the TUG Marketplace or, Bargain Deals forum, if you want to give it away.]


----------



## Redeyestired (Sep 9, 2019)

Quick Update Everyone. I received thereturn certified  "green card" back signed in the mail today. So the wait officially begins for the cc refund.


----------



## Grammarhero (Sep 10, 2019)

Redeyestired said:


> Quick Update Everyone. I received thereturn certified  "green card" back signed in the mail today. So the wait officially begins for the cc refund.


Congrats.  Go out and celebrate.


----------



## Redeyestired (Sep 18, 2019)

Good Morning Glories. The Rescind was a success! The Barclay credit card was refunded the $2100 September 11th! I was prepared to call after November if it was refunded. Thanks a million guys. I'm going to keep and eye on my bank account as they had that info as well but it's seems reversed.  A million thanks to everyone here who advised without judgement. While J am interested in timeshare properties, I am not going to sell my soul for one. Renting or buying at a lower cost off of someone who has a property may be a better option. I saved close to $35000 and what I hear from owners through reviews.a major hardship. I've learned a valuable lesson about the power of persuasion thankfully not the hard way.


----------

