points.
Great info, thanks. I don't know much about RCI Points.
The concept of points is very simple. When you buy a traditional t/s deed you co-own a piece of real estate with 52 other people. each of you has access to that piece of real estate for one full week.
with points, you basically give RCI the rights to use your One week time slot
for them to do as they wish with it ( let other members use it.) in exchange they will pay you for giving them your week, except that their currency is points not dollars.
once you have these points, you can go shopping in their inventory of timeshare properties and use your points to "buy" access to another property. simple.
the points can be used like cash in the respect that you can use as many or as little points as is needed. this includes 1-7 + nights stays.
there is the POints version of last call, those are instant exchanges. basically they are last minute bookings ( 30 days or less) and tent to use minimal points ( around 7,500). Keep in mind however that with every exchange you make, you will pay RCI an exchange fee for their services. this fee can range from 30 - 199 depending on the ammount of nights you use.
I realize i might have way oversimplified the issue, but i think I hit the main points. feel free to correct or add anything.