MVC Week/Points Owner - Next Steps

[jwtlee2]

My wife and I have been MVC owners, a combination of legacy weeks and points. Using the program, we were able to travel to various destinations where we probably wouldn't have, as there are annual financial commitments—use or lose model. Overall, our experience with the program has been decent. However, during the pandemic, we felt that Marriott / the program did little for Canadian owners. Due to travel restrictions and point restrictions, we lost a bit.

As we returned/stayed at a Marriott (2023), the program tried to get us to buy additional points ( Executive --> Presidential). We did not buy, as I politely explained our frustration to them.

We are returning to Marriott this week and are scheduled to meet with them. In preparation, I came across TUG BBS. I wish I had come across your site earlier.

Here are my questions:
1. Is it worth upgrading from Executive (7025) to Presidential (10,000) points? The points will eventually be handed down to kids to use. As we age and prepare to retire, the additional points/status may come in handy.
2. Reading the forum, I am interested in purchasing resale points—if I can get to the next level at a fractional cost, it makes better sense. Last year, they told us that they would take our Grande Vista week back at its original price and give us the equivalent points value if we purchased another 3000 points.
3. The 2-year point usage/limit is annoying, to by-pass this we convert what we can over to Marriott Bonvoy. Understanding that this is probably not a good idea. Are there any other suggestions?

Any feedback is greatly appreciated.

 

[Fasttr]

If you are already converting Club Points to Bonvoy points, you don’t need any more. Not worth buying more to move from Exec to Pres in my opinion. Just say no thanks.

Better to rent out your excess points on www.vacationpointexchange.com than convert them to Bonvoy.

 

[dioxide45]

Unless you really need more time in MVC timeshare accommodations there is no reason to add more points. You don't even need to attend the owner update or sales pitch. Don't feel like you are compelled to. Just go and enjoy your vacation.

 

[jwtlee2]

Unless you really need more time in MVC timeshare accommodations there is no reason to add more points. You don't even need to attend the owner update or sales pitch. Don't feel like you are compelled to. Just go and enjoy your vacation.

Thanks for the reply, I think we have to go as we picked up the encore package.

 

[jwtlee2]

If you are already converting Club Points to Bonvoy points, you don’t need any more. Not worth buying more to move from Exec to Pres in my opinion. Just say no thanks.

Better to rent out your excess points on www.vacationpointexchange.com than convert them to Bonvoy.

Thank you, I will look into it - previously, I looked at https://www.vacationcandy.com/ and VRBO, but that didn't work out.
Wanted to ask what the overall experience is like using www.vacationpointexchange.com?

 

[dioxide45]

Thanks for the reply, I think we have to go as we picked up the encore package.

Ah, yes. Then a presentation is required. In the end just say you aren't interested. There are a couple benefits afforded to Presidential over Executive, but for most it isn't worth the extra price tag.

 

[Dean]

I agree with above, not worth buying for the level upgrade unless you need more time anyway. If you do, looking at an enrolled week in Spain might be a better alternative even to buying resale points. No much or any more up front and potentially cheaper fees per year long term.

 

[LeslieDet]

My wife and I have been MVC owners, a combination of legacy weeks and points. Using the program, we were able to travel to various destinations where we probably wouldn't have, as there are annual financial commitments—use or lose model. Overall, our experience with the program has been decent. However, during the pandemic, we felt that Marriott / the program did little for Canadian owners. Due to travel restrictions and point restrictions, we lost a bit.

As we returned/stayed at a Marriott (2023), the program tried to get us to buy additional points ( Executive --> Presidential). We did not buy, as I politely explained our frustration to them.

We are returning to Marriott this week and are scheduled to meet with them. In preparation, I came across TUG BBS. I wish I had come across your site earlier.

Here are my questions:
1. Is it worth upgrading from Executive (7025) to Presidential (10,000) points? The points will eventually be handed down to kids to use. As we age and prepare to retire, the additional points/status may come in handy.
2. Reading the forum, I am interested in purchasing resale points—if I can get to the next level at a fractional cost, it makes better sense. Last year, they told us that they would take our Grande Vista week back at its original price and give us the equivalent points value if we purchased another 3000 points.
3. The 2-year point usage/limit is annoying, to by-pass this we convert what we can over to Marriott Bonvoy. Understanding that this is probably not a good idea. Are there any other suggestions?

Any feedback is greatly appreciated.

Do not buy any additional MVC Trust Points just to have them to leave for your kids. You have the ability to rent points if you need more for booking reservations as you age/retire. If you really want to buy more MVC Trust Points, do it resale. Don't fall for the "we'll give you credit for what you paid for your deeded week" pitch -- let's say you paid $20k for that week, I'll guess that you can elect 2500 Club Points in lieu of occupancy. But, to get rid of that week which you already have to ability to use to elect Club Points with, you must buy 3000 new MVC Trust Points from MVC. That will cost you roughly $48k, and sure, you'll get a $20k credit (in my hypothetical), which means you are spending $28k new money to have access to 500 points (if you buy 3000 and the week you give up exchanges for 2500). That is a lot of money to have access to few additional points. And, it ignores the ability to rent points.

BTW - if you do move up to presidential level from executive level, the banking is 18 months, not 2 years. If you are taking your existing owned points and turning them into BonVoy points, you are paying way too much in maintenance fees for those BonVoy points. Just rent out your unused Club Points. You'll at least cover the MF.

 

[TheTimeTraveler]

My wife and I have been MVC owners, a combination of legacy weeks and points. Using the program, we were able to travel to various destinations where we probably wouldn't have, as there are annual financial commitments—use or lose model. Overall, our experience with the program has been decent. However, during the pandemic, we felt that Marriott / the program did little for Canadian owners. Due to travel restrictions and point restrictions, we lost a bit.

As we returned/stayed at a Marriott (2023), the program tried to get us to buy additional points ( Executive --> Presidential). We did not buy, as I politely explained our frustration to them.

We are returning to Marriott this week and are scheduled to meet with them. In preparation, I came across TUG BBS. I wish I had come across your site earlier.

Here are my questions:
1. Is it worth upgrading from Executive (7025) to Presidential (10,000) points? The points will eventually be handed down to kids to use. As we age and prepare to retire, the additional points/status may come in handy.
2. Reading the forum, I am interested in purchasing resale points—if I can get to the next level at a fractional cost, it makes better sense. Last year, they told us that they would take our Grande Vista week back at its original price and give us the equivalent points value if we purchased another 3000 points.
3. The 2-year point usage/limit is annoying, to by-pass this we convert what we can over to Marriott Bonvoy. Understanding that this is probably not a good idea. Are there any other suggestions?

Any feedback is greatly appreciated.

Do with what works best for you, not with what works best for Marriott.

Keep your hands in your pocket and enjoy using what you currently have. Rent additional points as needed, when needed.

Think about becoming a member of TUG. It will be the best $15 you ever spend! Click on the blue line above: "Join TUG!" and follow the prompts. Easy to do!







.

 

[davidvel]

My wife and I have been MVC owners, a combination of legacy weeks and points. Using the program, we were able to travel to various destinations where we probably wouldn't have, as there are annual financial commitments—use or lose model. Overall, our experience with the program has been decent. However, during the pandemic, we felt that Marriott / the program did little for Canadian owners. Due to travel restrictions and point restrictions, we lost a bit.

As we returned/stayed at a Marriott (2023), the program tried to get us to buy additional points ( Executive --> Presidential). We did not buy, as I politely explained our frustration to them.

We are returning to Marriott this week and are scheduled to meet with them. In preparation, I came across TUG BBS. I wish I had come across your site earlier.

Here are my questions:
1. Is it worth upgrading from Executive (7025) to Presidential (10,000) points? The points will eventually be handed down to kids to use. As we age and prepare to retire, the additional points/status may come in handy.
2. Reading the forum, I am interested in purchasing resale points—if I can get to the next level at a fractional cost, it makes better sense. Last year, they told us that they would take our Grande Vista week back at its original price and give us the equivalent points value if we purchased another 3000 points.
3. The 2-year point usage/limit is annoying, to by-pass this we convert what we can over to Marriott Bonvoy. Understanding that this is probably not a good idea. Are there any other suggestions?

Any feedback is greatly appreciated.

It will cost you $15,000-$21,000 on a resale purchase to move up. It will cost you $30,000-$45,000 on a MVC purchase to move up. What perks of Presidential do you think are worth that kind of money?

 

[jwtlee2]

Do not buy any additional MVC Trust Points just to have them to leave for your kids. You have the ability to rent points if you need more for booking reservations as you age/retire. If you really want to buy more MVC Trust Points, do it resale. Don't fall for the "we'll give you credit for what you paid for your deeded week" pitch -- let's say you paid $20k for that week, I'll guess that you can elect 2500 Club Points in lieu of occupancy. But, to get rid of that week which you already have to ability to use to elect Club Points with, you must buy 3000 new MVC Trust Points from MVC. That will cost you roughly $48k, and sure, you'll get a $20k credit (in my hypothetical), which means you are spending $28k new money to have access to 500 points (if you buy 3000 and the week you give up exchanges for 2500). That is a lot of money to have access to few additional points. And, it ignores the ability to rent points.

BTW - if you do move up to presidential level from executive level, the banking is 18 months, not 2 years. If you are taking your existing owned points and turning them into BonVoy points, you are paying way too much in maintenance fees for those BonVoy points. Just rent out your unused Club Points. You'll at least cover the MF.

- We just finished our presentation meeting.
- They offered to take back my week ($22K). To do so, they asked me to purchase 5775 points to reach the next level. After the credit, they quoted $42K. Two years ago, my wife and I thought they offered me something better. We did not accept it and took the $550 Visa gift.
- During the presentation, he mentioned that they have a new program to cover hotel stays with points, which differs from the current Bonvoy program.
- We accepted another encore package that will be good for the next 2 years. ; )
- I spoke with the administrator preparing the encore and mentioned the resale market; she confirmed that it's real and possible, and Marriott cannot do anything about it. She did provide a couple of tips to make sure we don't get scammed, i.e., Check with ownership to ensure there are no overdue maintenance fees, etc.
- The feedback from this forum has been very helpful; I appreciate the feedback from everyone. As mentioned earlier, I wish we found this earlier.
- The fact that it is possible to obtain a higher status at a fraction of the price may seek the forum's assistance.
- Looking at www.vacationpointexchange.com
- Looking to join as a member.

 

[LeslieDet]

During the presentation, he mentioned that they have a new program to cover hotel stays with points, which differs from the current Bonvoy program.

Just FYI - it isn't a new program. Some hotels have always been available to book using MVC Club Points. Look on the owner website. The cost (in Club Points) varies by location. There are some decently priced locations and there are some very high end locations that are very expensive (meaning they require a significant amount of Club Points per night). MVC is always seeking to expand the hotels that participate, but it is not a new program.

 

[jwtlee2]

Just FYI - it isn't a new program. Some hotels have always been available to book using MVC Club Points. Look on the owner website. The cost (in Club Points) varies by location. There are some decently priced locations and there are some very high end locations that are very expensive (meaning they require a significant amount of Club Points per night). MVC is always seeking to expand the hotels that participate, but it is not a new program.

Noted

 

[jwtlee2]

It will cost you $15,000-$21,000 on a resale purchase to move up. It will cost you $30,000-$45,000 on a MVC purchase to move up. What perks of Presidential do you think are worth that kind of money?

At this point, I'm just looking, but nothing pops up based on what I am reading.

 

[Fasttr]

At this point, I'm just looking, but nothing pops up based on what I am reading.

Here is a good place to compare….

https://www.marriottvacationsworldwide.com/common/cms/mvc/pdfs/owners/Owner-Benefit-Level.pdf

 

[DRH90277]

It would be good for you to consider what aspects of the timeshare program would work best "for your family." MVC goes for a one-size fits all approach always involving points purchases from them. The MVC view is that lots of points provide a currency for the widest use of their provided timeshare portfolio. An alternative view is that you determine what you would use, the vacations you really want, and can afford. Some of us use our timeshares for family events and buy great resale weeks within driving distance. My suggestion is to think very carefully about what you want, what you will use, and the cost. Then, figure out how to best meet your needs.

There seem to be many Tug members who don't have a lot of cash invested in timeshare and still have great vacation experiences. They seem to be the ones who learn the program, figure out the options, use Interval, buy resale, belong to Tug, etc. Again, join Tug and ask for advice on how to do what "you" want.

Do not rush this - timeshare is expensive and maintenance fee commitments go on forever....

 

[davidvel]

At this point, I'm just looking, but nothing pops up based on what I am reading.

I think that is the best answer.

Funny how they offered to sell you over 5,000 points to get you to the next level, but you only needed 3,000. As others noted, you are dumping (bad return) points for Bonvoy points so you don't need more. If you happen to need more, you cant; rent occasionally, often for around the MF cost, with no upfront cost.

 

[Fasttr]

Funny how they offered to sell you over 5,000 points to get you to the next level, but you only needed 3,000.

Likely because of the week they would be giving back.

 

[Luvtoride]

I’m a bit late to the thread here but a couple of other comments:

Lesliedet’s comment about leaving points to the kids is spot on. The kids Won’t want them! Although ours love the vacations we take them on (now grown with our grandchildren) it is a liability that they can’t afford and don’t want to be burdened with!

If you’re looking to spend more time in warm climates after you retire I.e. in Florida, then maybe buy an additional week or two resale that are Lockoffs (important). This way you can lock them off and spend 4-8 weeks during winter time in Florida using smaller accommodations and maybe even in a few different locations. We have friends who do this each winter in Florida in lieu of a vacation home. Other than Christmas/ New Years time getting these trades thru II is not that difficult.

Glad you said no and walked away with your gift card!


Sent from my iPhone using Tapatalk

 

[jwtlee2]

Further to my original post, I have the following questions:

- During the presentation, they suggested that I sell my week, as maintenance fees will get more expensive compared to points. He referenced a condo incident where it collapsed, causing insurance to go up on all condos. Any truth to this?
- Does anyone have experience renting out or buying points? I'm looking for a KB to get a better understanding of how it is done. Posting in the TUG marketplace or redweek.com?

 

[LeslieDet]

During the presentation, they suggested that I sell my week, as maintenance fees will get more expensive compared to points. He referenced a condo incident where it collapsed, causing insurance to go up on all condos. Any truth to this?

Sales folks who make that pitch do not grasp how the MVC Trust works, or they are hoping the prospective buyer they are talking to doesn't understand how the MVC Trust MFs are calculated. It is fear mongering.

Basically, everyone who owns timeshares is at risk that MFs will increase. There is no protection against the catastrophic when you own MVC Trust Points. It is all about averages. When you own a deeded week, that is the spot. If a hurricane were to demolish the exact property you own, then the deeded owners may indeed have a capital call to repair the damage. You own a week, you may have to cough up money over and above what insurance will reimburse in order to repair the damage.

When you own Trust points, that risk is still present, it is simply diluted because it is the Trust that owns the week that is demolished in my hypothetical (but the Trust would probably own many weeks in that location, not just one like you), and thus the capital call will be made on the Trust. When that happens, the Trust turns around and raises the MFs due from all Trust point owners to cover that capital call.

The risk is diluted when you own Trust points; but you also have zero control over what is owned by the Trust.. In addition to paying the same MFs per unit per location as individual owners do, Trust Point owners must also pay MFs that include the administrative costs of operating the Trust. The Trust also seems to have a higher rate of default in the payment of MFs, so when your fellow MVC Trust Point owners breach their contract and don't pay their MFs to the Trust, then that cost is also shared as increased MFs. While individual resorts also obviously bill bad debt as a component of an annual MF, there's a lot more bad debt in the Trust due to its sheer size.

Just a note as to the collapsed condo in FL. What that has done for every location in FL is change the law as it relates to reserve requirements. FL used to allow all associations to basically ignore reserve requirements and continually vote to not collect the money required to maintain adequate reserves. With that condo collapse, the laws changed and every HOA is increasing the reserve requirements. That will be happening until the reserves are adequately funded. It impacts individual deeded week owners as much as it impacts the MVC Trust. Don't allow that fear-mongering to get you to spend new money buying points simply to replace those you already can elect from your deeded week.

Regarding your Q: "Does anyone have experience renting out or buying points?" -- check out vacationpointexchange.com -- you can rent MVC Club Points from your fellow owners. Just beware of the use year you are renting. Understand that when you rent, you cannot bank or borrow the rented points. They can transfer only one time. If you are renting future year use points, be aware that there is risk to the extent that the owner must pay the MF on those points timely to keep them from adversely impacting your reservation. So, rent from someone you trust.

 

[5finny]

"So, rent from someone you trust"
Agree 100%
A lot of good people renting points out at vacationpointexchange.com but some scammers also-- so be careful

 

[TolmiePeak]

I'm with Leslie. Don't think you are doing your kids a favor by having them inherit your timeshares. Most kids don't want them.

 

[TheTimeTraveler]

Further to my original post, I have the following questions:

- During the presentation, they suggested that I sell my week, as maintenance fees will get more expensive compared to points. He referenced a condo incident where it collapsed, causing insurance to go up on all condos. Any truth to this?
- Does anyone have experience renting out or buying points? I'm looking for a KB to get a better understanding of how it is done. Posting in the TUG marketplace or redweek.com?

If you are happy with your weeks then keep your weeks. Under most circumstances most weeks are far cheaper to own than owning points. Granted you don't have the flexibility but you do have deeded physical ownership and Interval International is your trading partner whenever you elect not to occupy your home resort.

Remember, the sales person only makes a commission if he/she makes you reach your hands into your pockets to empty your wallet.

One final comment: Do you really want to be burdened (or hassled) with the responsibility of renting your points out if you plan not to use them? I don't know the answer to that but I will leave you a point rental website below. Click on it and figure it out if it's your cup of tea. Don't forget the headaches during Covid......



www.VacationPointExchange.com



Best of luck!









.

 

[Fido Chuckwagon]

- During the presentation, they suggested that I sell my week, as maintenance fees will get more expensive compared to points. He referenced a condo incident where it collapsed, causing insurance to go up on all condos. Any truth to this?

He’s lying. Trust points maintenance fees are basically just a weighted average of all the maintenance fees of the resorts the trust owns, plus administrative costs. Trust points maintenance fees go up just like deeded resorts do, and for the the sam reason.