What do I do with my 55k points?

[Martavonn]

I am new to forums so hopefully this is the correct place to ask this? My Sister and I inherited 55,000 Worldmark points, we are diamond club members and our anniversary is 2/28/21. This means we will have another 55,000 points in March. It took us a year to get the title transferred to our names, a year that we had to pay the 375$ dues even though we couldn't use the points. Finally in 2018 we got our names on the title but after all that we realized that we can't use it. So many reason's why; my husband likes to travel via RV, my sister is over 80, dogs we don't want to leave behind, can't ever get time where I want it, when I want it, these are some of the reasons why the timeshare isn't going to work for us. But meanwhile we have been paying dues for 3 years and haven't used it except for a long weekend here and there. I want to get rid of it because it feels like an expensive weight around my neck, but had no idea where to start. I was so excited to see the TUG2 website! But I have to admit it is a bit overwhelming, should we sell, should we rent, should we return it to Worldmark? And returning it isn't cheap, they want a 300$ transfer fee and dues paid for the 4 months it takes to transfer back to them! All I want to do is get rid of the monthly MF's and hopefully get back some of the $13,500 this has cost us. I am hoping some of you can advise me on what I should do, try to rent the expiring 55k points,and bank the poinst with RCI sell all of it, bite the bullet and give it back???

 

[geist1223]

If you are not going to use it you need to get rid of it. Are there any kids or Grand kids that would,like to have it? www.wmowners.com/forum (a site for Worldmark Owners by Worldmark Owners) has an active sale of Accounts and rental of Points. Currently the sale price is depressed. Accounts are selling for 10 cents to 20 cents per Point. Rental is 5 cents to 6.5 cents per Point. You do not have to pay to join the site. It is run by volunteers. If you decided list it yourself please read the threads dealing with how to post your advertisement.

 

[Martavonn]

Thank you for your feedback, I will try that site. I just went on to the Worldmark account and apparently we have 165,00 points available. For someone that is savvy to using timeshare points it would seem like a screaming deal to buy it for some much less but I realize with Covid-19 there are some many unknowns going forward, probably the worst time ever to rent or sell a timeshare.

 

[samara64]

Since your anniversary is February, you will get new points on Feb 1st. 55,000 will expire on Feb 28, 2021.

You should rent the ones expiring this February quickly before losing these as you did for the past 3 years. Unfortunately the maintenance fee paid will not be recovered as the points are gone.

As you may know, you can rent out up to 2 x you annual points (110,000 in your case) per usage year (Feb-Jan). So on Feb 1st, the counter will reset. So if you want to rent 165K, 55K must go out before Feb 1st. 110K can go out anytime after Feb 1st.

 

[geist1223]

Also when you sell an Account it is primarily based on the Annual Points. A buyer may or may not pay a premium based on a fully loaded Account (2 years of Points plus a year to borrow). With so many people having excess Points because of Covid (no to limited travel the past 12 months) having a fully loaded Account to sale is not a big draw.

 

[Breezy52]

Do you know if you have personal choice? Not usually a great value but for 165,000 points you can use them for hotel, air, any travel items. Book ahead with one of the airlines that isn't charging change fees (all of them?). Best of Luck

 

[samara64]

Personal choice could be another option. As a diamond elite owner, they get it every other year and it looks like she never used it.

You can call and see if you can use it to pay your maintenance fee, buy plain tickets or whatever they offer. Not the best use of credits though.

 

[Firepath]

If you are a member of RCI, you could also transfer them there to get more time out of them. You could exchange in to Hawaii, and who doesn't want to go there?

 

[sue1947]

Since your anniversary is February, you will get new points on Feb 1st. 55,000 will expire on Feb 28, 2021.

You should rent the ones expiring this February quickly before losing these as you did for the past 3 years. Unfortunately the maintenance fee paid will not be recovered as the points are gone.

As you may know, you can rent out up to 2 x you annual points (110,000 in your case) per usage year (Feb-Jan). So on Feb 1st, the counter will reset. So if you want to rent 165K, 55K must go out before Feb 1st. 110K can go out anytime after Feb 1st.

This. Renting out the credits will get you more money than any of the other options. Renting is simple and fast and you will hav the money to purchase any of the other options with some left over. You need to get those 55000 that expire in Feb rented NOW. Go to wmowners and read through the Credits for rent section and post your ad. Those 55K credits will sell for less than the ones that expire later.
If you haven't rented in or out in the last year, you can rent out up to 110K. As of Feb, you will get another 55K so will have a total of 220K to deal with. Renting out 110K now should net you around $6000. That will still leave you with an account with 110K and 55K to borrow. Because the added credits don't add much to the value of an account for sale, I'd rent out additional before putting the account up for sale.
Note that the market for rented credits is down because of the travel restrictions. You may have to sell these credits in smaller batches. If you can wait, you will probably get more for the rented credits. I doubt you will get more for selling the account.

Regardless, you need to get those 55K that are going to expire rented out NOW. You can then take your time to sort out what you want to do with the rest.

 

[clifffaith]

I had never rented credits before -- it was very easy to do at wmowners.com. Gave my paypal ID to the interested parties, and transferred the credits as soon as the money hit my account. Fine print says it may take up to a couple days to move the credits, but it happened in less than an hour.

 

[HudsHut]

Welcome to TUG.
I agree with the plan to rent out the 55K that are expiring next month.
As the others mentioned, you can place an ad to rent them out here:

Credits for Rent (Out)

Owners offering WorldMark one-time-use credits for rent (out)

www.wmowners.com

Under no circumstances should you move any over to RCI. That is another level of complexity, and you have already told us your family is not suited for timeshare. (I mean no disrespect to @Firepath, for people who want to travel and need to give their credits extra life, RCI can be an option, but I don't think it will be advantageous in this case.)

We have a list of trusted resellers on the website here:

WorldMark Owners • Login

Contact a few of them and get an idea of what your account would sell for.

 

[Eric B]

One other thing to consider is whether the contract you have is a no-housekeeping contract. If it is, it has significantly higher value on the resale market.

 

[Martavonn]

One other thing to consider is whether the contract you have is a no-housekeeping contract. If it is, it has significantly higher value on the resale market.

At this point I have 6 house keeping credits accrued. Not sure if that is how much we get every year or that is 2 years or 3 years combined??

 

[Martavonn]

Welcome to TUG.
I agree with the plan to rent out the 55K that are expiring next month.
As the others mentioned, you can place an ad to rent them out here:

Credits for Rent (Out)

Owners offering WorldMark one-time-use credits for rent (out)

www.wmowners.com

Under no circumstances should you move any over to RCI. That is another level of complexity, and you have already told us your family is not suited for timeshare. (I mean no disrespect to @Firepath, for people who want to travel and need to give their credits extra life, RCI can be an option, but I don't think it will be advantageous in this case.)

We have a list of trusted resellers on the website here:

WorldMark Owners • Login

Contact a few of them and get an idea of what your account would sell for.

My friend Sam advised me that same way. I have just joined Interval Vacations at his recommendation. But unlike RCI, you don't just "bank" points you move weeks over. So, this weekend I will be making reservations here and there to use up the 55K points and then I will move those to II and in a year when I retire I will be able to use them or share them with friends and family. Once Covid is behind us, there will be a lot more options.
thank you for your feedback!

 

[Martavonn]

Welcome to TUG.
I agree with the plan to rent out the 55K that are expiring next month.
As the others mentioned, you can place an ad to rent them out here:

Credits for Rent (Out)

Owners offering WorldMark one-time-use credits for rent (out)

www.wmowners.com

Under no circumstances should you move any over to RCI. That is another level of complexity, and you have already told us your family is not suited for timeshare. (I mean no disrespect to @Firepath, for people who want to travel and need to give their credits extra life, RCI can be an option, but I don't think it will be advantageous in this case.)

We have a list of trusted resellers on the website here:

WorldMark Owners • Login

Contact a few of them and get an idea of what your account would sell for.

Geez, thank you very much, I have been so comforted in the fact that there are so many ways and so many people willing to help and share their expertise. I just wish my Sister and I had known about these forums as my parents were aging and we took over the the handling and using of the timeshares points. Unfortunately I am now married to someone who really does not like the timeshare concept at all. He has multiple reasons, some legitimate, some just because he is a free spirit and doesn't like to have his vacation plans dictated by check-in dates, and places that aren't quite where you want to be so you have to drive 15 min to get into town and especially the planning ahead 13 months. Which is what you have to do if you want to know for sure you have a 2 bedroom on the water, for 2 weeks in Lahaina! Oh, well, at least now I kind of know how all of this works, so selling it, moving it etc isn't such a big deal.
marta

 

[samara64]

My friend Sam advised me that same way. I have just joined Interval Vacations at his recommendation. But unlike RCI, you don't just "bank" points you move weeks over. So, this weekend I will be making reservations here and there to use up the 55K points and then I will move those to II and in a year when I retire I will be able to use them or share them with friends and family. Once Covid is behind us, there will be a lot more options.
thank you for your feedback!

You do not make reservations. Worldmark does it for you. You just ask them you want so many reservations to bank with II. So you cannot choose where to book. Worldmark will do it for you based on availability. Just ask them to space bank weeks for you.

 

[geist1223]

With a 55K Account you will get 5 House Keeping per year and 6 Guest Certificates per year.

 

[samara64]

Just to clarify the above post, you cannot choose the resort or the check-in date. You cannot make a reservation in Seaside for July 4th and ask Worldmark to deposit it.

You choose the room size (stdio, 1, 2 or 3BR) and the season (red, white or Blue/green). Worldmark will choose a week (normally not the best week) and make the deposit for you. You will know what resort and check-in date you got when you see these in your II account.

Not the best option but it works.

 

[HudsHut]

Marta:
If your family does not want to stay at WM resorts, why do you think they'll want to stay at an Exchange resort?

I have laid out the pros and cons of depositing to II:

The advantage of depositing into II:
If you have WorldMark spacebank the 55000 (five 2 br RED weeks @ 10,000 ea and one 1 br green week @ 5000), then you will make use of the six HKs that you have, otherwise they'll go to waste.
You will get 2 1/2 - 3 years to make your exchanges in II.

The counter-argument is the complexity - there is a steep learning curve with Interval International.
Since you are a beginner, I recommend that you use "Request First". That means, you are allowed to search II for resorts that interest you without committing your weeks to II. I would NOT spacebank into II at this time. You will have better trade power using the float week, which does not require any WM points to be moved to II until you confirm an Exchange.
Rent out the expiring credits, and then use II if you wish, with your current credits. If you have 55,000 expiring 2/28/21, you also have 55000 expiring 2/28/22 and today have just received 55,000 expiring 2/28/23. You really need to get rid of the oldest ones.

---
You mentioned Lahaina. If you want to go to Maui, there are many luxurious resorts with unprecedented inventory for later this year. This is the year to try for Marriott Maui or Westin Nanea.

 

[Martavonn]

Welcome to TUG.
I agree with the plan to rent out the 55K that are expiring next month.
As the others mentioned, you can place an ad to rent them out here:

Credits for Rent (Out)

Owners offering WorldMark one-time-use credits for rent (out)

www.wmowners.com

Under no circumstances should you move any over to RCI. That is another level of complexity, and you have already told us your family is not suited for timeshare. (I mean no disrespect to @Firepath, for people who want to travel and need to give their credits extra life, RCI can be an option, but I don't think it will be advantageous in this case.)

We have a list of trusted resellers on the website here:

WorldMark Owners • Login

Contact a few of them and get an idea of what your account would sell for.

Welcome to TUG.
I agree with the plan to rent out the 55K that are expiring next month.
As the others mentioned, you can place an ad to rent them out here:

Credits for Rent (Out)

Owners offering WorldMark one-time-use credits for rent (out)

www.wmowners.com

Under no circumstances should you move any over to RCI. That is another level of complexity, and you have already told us your family is not suited for timeshare. (I mean no disrespect to @Firepath, for people who want to travel and need to give their credits extra life, RCI can be an option, but I don't think it will be advantageous in this case.)

We have a list of trusted resellers on the website here:

WorldMark Owners • Login

Contact a few of them and get an idea of what your account would sell for.

Actually with the help of Sam and other Tug folks I am more timeshare savvy than I ever have been. Doesn't change the fact that my Sister and I can't afford the dues and are having a hard time using our timeshares because we both have dogs that are like family to us. But going forward if I do want to rent or own another timeshare I will have a better understanding of what I am getting and how to use it.

 

[Martavonn]

Marta:
If your family does not want to stay at WM resorts, why do you think they'll want to stay at an Exchange resort?

I have laid out the pros and cons of depositing to II:

The advantage of depositing into II:
If you have WorldMark spacebank the 55000 (five 2 br RED weeks @ 10,000 ea and one 1 br green week @ 5000), then you will make use of the six HKs that you have, otherwise they'll go to waste.
You will get 2 1/2 - 3 years to make your exchanges in II.

The counter-argument is the complexity - there is a steep learning curve with Interval International.
Since you are a beginner, I recommend that you use "Request First". That means, you are allowed to search II for resorts that interest you without committing your weeks to II. I would NOT spacebank into II at this time. You will have better trade power using the float week, which does not require any WM points to be moved to II until you confirm an Exchange.
Rent out the expiring credits, and then use II if you wish, with your current credits. If you have 55,000 expiring 2/28/21, you also have 55000 expiring 2/28/22 and today have just received 55,000 expiring 2/28/23. You really need to get rid of the oldest ones.

---
You mentioned Lahaina. If you want to go to Maui, there are many luxurious resorts with unprecedented inventory for later this year. This is the year to try for Marriott Maui or Westin Nanea.

The first person I interacted with advised me to deposit into II because I may be able to use those credits even if I sell my WM timeshare. This was very appealing to me because eventually, after covid and after I retire, I will have more flexibility for travel. And my dog recently died, which is the saddest thing ever, but it does make it easier to travel. He advised me to do the same thing you advised, five 2 br RED weeks @ 10,000 ea, which I did so we shall see how it all works out in the months to come?

 

[Martavonn]

Marta:
If your family does not want to stay at WM resorts, why do you think they'll want to stay at an Exchange resort?

I have laid out the pros and cons of depositing to II:

The advantage of depositing into II:
If you have WorldMark spacebank the 55000 (five 2 br RED weeks @ 10,000 ea and one 1 br green week @ 5000), then you will make use of the six HKs that you have, otherwise they'll go to waste.
You will get 2 1/2 - 3 years to make your exchanges in II.

The counter-argument is the complexity - there is a steep learning curve with Interval International.
Since you are a beginner, I recommend that you use "Request First". That means, you are allowed to search II for resorts that interest you without committing your weeks to II. I would NOT spacebank into II at this time. You will have better trade power using the float week, which does not require any WM points to be moved to II until you confirm an Exchange.
Rent out the expiring credits, and then use II if you wish, with your current credits. If you have 55,000 expiring 2/28/21, you also have 55000 expiring 2/28/22 and today have just received 55,000 expiring 2/28/23. You really need to get rid of the oldest ones.

---
You mentioned Lahaina. If you want to go to Maui, there are many luxurious resorts with unprecedented inventory for later this year. This is the year to try for Marriott Maui or Westin Nanea.

I think you may have misunderstood me; I love WM resorts I have stayed all over the US and in BC and Mexico and even a few places over seas thanks for my parents. When they got involved it wasn't quite as difficult to reserve the place you wanted and my Mom had nothing but time to call and make reservations. There are just some roadblocks, one of the big ones being the amount for monthly maintenance and the lack of flexibility right now. With the time in II maybe my situation will change enough that I can use those points in a year or two and still sell my timeshare at some point.

 

[HudsHut]

Dear Marta:
I am very sorry to learn about your dog recently passing away.

I am delighted that you want to actively use those deposited weeks. You are correct, that you may sell your WM and still have the deposits in II to use.

It takes a couple of weeks for the WM deposits to appear in your II account. Think about where you might want to use the WM weeks. Then you can set up an ongoing search with one or more of the weeks for your intended travel timeframe.

 

[geist1223]

Booking specific WM Resorts can be a challenge for the uninitiated. The WM Booking Window opens at 13 months 6am Pacific Time online and 8am Pacific Time by telephone. So for the high demand Resorts the available Units disappear fast at 6am. WM does have a very active Wait List. You can have 4 Wait Lists at any given time. In December 2020 I tried to Book Kapa'a Shores on Kauai for a specific week in Janauary 2022 but was unsuccessful. So I called and set up a Wait List for that week at Kapa'a Shores. 2 days ago we got an email saying our Wait List had matched. We quickly went an email confirming we wanted it.

 

[Martavonn]

Booking specific WM Resorts can be a challenge for the uninitiated. The WM Booking Window opens at 13 months 6am Pacific Time online and 8am Pacific Time by telephone. So for the high demand Resorts the available Units disappear fast at 6am. WM does have a very active Wait List. You can have 4 Wait Lists at any given time. In December 2020 I tried to Book Kapa'a Shores on Kauai for a specific week in Janauary 2022 but was unsuccessful. So I called and set up a Wait List for that week at Kapa'a Shores. 2 days ago we got an email saying our Wait List had matched. We quickly went an email confirming we wanted it.

Thank you for your advice!