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Working with Worldmark points? Pros and Cons?

Discussion in 'Worldmark The Club' started by Dan & Laurel, Jun 11, 2019.

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  1. Dan & Laurel

    Dan & Laurel Guest

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    We are considering buying 40,000 Worldmark points tomorrow 6/12/12019. We think this is a great opportunity to travel the US and World, but are new to booking resorts through RCI. Any tips/tricks for using Worldmark points would be greatly appreciated.
     
  2. rhonda

    rhonda TUG Review Crew: Veteran TUG Member

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    Wow, that is a HUGE account. Given the "tomorrow" reference, I must comment: If you are about to sign for this purchase direct from the developer PLEASE SLOW DOWN and reconsider.

    We've owned WM for nearly 20 years and *love* it ... but I wouldn't purchase direct at today's prices. Give yourself some time (weeks or months) to really dig into those Pros/Cons, usage considerations, fees, restrictions, possibilities, etc. A 'resale' (used) Worldmark account might work equally well for you ... or perhaps some other timeshare altogether.

    Edited to add a few links:
    Edited again: WELCOME to TUG!! Glad you are here!
     
    Last edited: Jun 11, 2019
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  3. sue1947

    sue1947 TUG Member

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    This part of your statement: "We think this is a great opportunity to travel the US and World, but are new to booking resorts through RCI." makes me think you need to educate yourself about WM a lot more before purchase. It sounds like one of the standard WM sales pitches i.e. you can book anything in the RCI catalog at any time; not true. WM is a good trader in both RCI and Interval International, but only if you understand how it all works. It is complicated and not the same as most timeshares. Buy WM if you want to book WM resorts. Understand that you are competing with way more owners than there are units for the popular locations and popular times. If you are tied to the school holidays or weekends, you will need to plan well in advance; 13 months or 10 months.
    And make sure you buy resale only.

    Sue
     
  4. Dan & Laurel

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    Hi Rhonda,
    Thanks for the links. They are very helpful.

    We are buying these points on the re-sale market and the cost is very reasonable. We have shopped and researched for several years and have heard great things about Worldmark. If you have has WM for 20 years and love it, that is great news.

    Since it is a large amount of points, we might sell/rent some of the weeks to recoup part of the yearly fees. If you have any advice on doing this, it would be welcome.

    Thanks,
    Dan & Laurel
     
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  5. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Dan and Laurel, sloooooow down. 40K WM credits is a LOT! Do you really need that many? Did you know there are ways to book WM resorts without even using credits in your account? Traveling "the world" is kind of a leading statement, simply because there aren't any WM resorts in Europe. There are only a handful east of the Mississippi, and most are west of there. If the plan is to exchange to other areas, be careful - it's not as easy to exchange where you want, regardless of what a slick salesman may be telling you.

    As Rhonda says, if this is a Developer purchase, you might want to take your time and learn how it works before buying anything. And when you do, consider the resale market. I bought a 12K credit WM account for $1500, and it came loaded with 36K credits. I'd wager you're planning to spend a lot more than that, right?

    It's very easy to get into a timeshare, but can be very difficult to get out of one. Take your time and be smart.

    Dave
     
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  6. Dan & Laurel

    Dan & Laurel Guest

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    Hi Sue,
    Thanks so much for your input. Yes, we are new to RCI. Luckily we have several close siblings that have used RCI for years and have offered their help teaching us the "ropes". I saw that someone said WM points sell for 30 to 40 cents per point. We are paying a small fraction of that amount (and yes, it's on the resell market). We are empty nester's. So it usually going to just be the 2 of us while we learn. We have also looked into WM properties and they sound greatly appealing. We can do 3 day weekends quite easily, but are not tied to school holidays.

    Dan and Laurel
     
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  7. geist1223

    geist1223 Guest

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    I thought the 30 to 40 cents per Point was a bit high on the resell market. Owners on TUG and www.wmowners.com would like to get that much. The price can be substantially lower especially on EBAY.

    We have belonged to WMTC since August 2002. We love it. I have to admit we have a lot of Developer Points in addition to our resell market Points. This has enabled us to travel Downunder 3 times with a 4th trip coming up next year. Also WMSP has bought into Resorts in Bavaria and Tuscany; and, is looking at Japan.
     
  8. Dan & Laurel

    Dan & Laurel Guest

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    Hi Dave NW,

    Thanks for that wonderful advice. Traveling the world is a goal. (The pretty one has lived in Germany and we have been to Itally twice). If WM has no properties in Europe, can't we still use RCI? If not, we will use them mainly in the US. We are spending more than $1500 but only slightly more. We like the points concept because we are not tied to a specific property, but can pick and choose between many that should be available.

    Dan and Laurel
     
  9. Dan & Laurel

    Dan & Laurel Guest

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    We are hearing many great and positive things about WM, so we are looking forward to becoming active travellers

    D & L
     
  10. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    Yes, you can use RCI, but the caveat is that there has to be a deposit in order to get an exchange. And then you have to be able to pull that exchange before someone else gets it. There was a time when exchanging was easy and "everybody did it." Lately, the mantra is to "own where you want to vacation," because exchanging is harder than ever, and RCI, especially, tends to tack on multiple fees. That drives up the cost of your vacation. Sometimes it's easier to rent where you want to go, on your terms and timeline. A lot of owners rent their units out, which gives you more options, at the end of the day, than banking on an exchange to come through.

    Put another way: I owned Weeks timeshares for years, and eventually sold them all, to buy only WorldMark. I live in Washington State, in the heart of WorldMark resorts. I like shorter stays, but there are tricks to making the most of your WM ownership. The biggest thing you'll be facing is nearly $2,850 in maintenance fees - every year, and it goes up by ~5% every year. Combine that with the RCI membership costs and exchange fees you'll pay, add travel expenses, and the cost of those vacations is going to be pretty substantial. But that's your business and budget.

    I guess my point is to recommend exploring exactly what you'll get, and how to make the most of it. Buying WM resale means you won't get any of those fancy perks like Travelshare or Club Wyndham. Some WM resorts (Australia, South Pacific, and Southeast Asia, for example) won't be available to you. That's going to leave basically the North America locations and Fiji. And while RCI has a lot of resorts in their directory, as I said, it can be difficult to exchange into some of those more exotic locations. You may be better off renting exactly what you want when you want to go there.

    Caveat emptor. If this is resale, then time can't be that pressing. Slow down and make certain it's a good decision for you. Nobody on Tug has an angle here to steer you wrong, but there are lifetimes of experience people are willing to share. That's why Tug is the best travel site on the Internet.

    Good luck!
    Dave
     
    Last edited: Jun 12, 2019
  11. rhonda

    rhonda TUG Review Crew: Veteran TUG Member

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    D & L, So glad to read that you've researched and found a great deal on WM resale. Excellent news and Good for you!!

    The transfer and closing process will move slowly ... but it will get there. Here are my tips for once your membership is activated:
    • Spend lots of time cruising the online reservation system. Get to know the seasons (Red/High, White/Mid and Blue/Low) for each resort on your interest list and its availability pattern. For example, if Yellowstone is on your list, you'll find that it books quickly at the 13-month reservation window for summer months but has space available in the off-season. Just cruise the calendar jumping from resort to resort and unit type to unit type.
    • Take an online Owner's Ed course.
    • Read the Club Guidelines; you'll find a PDF version on the Owner's website. Take note of the Reservation Windows, Cancellation Guidelines, etc.
    • RCI will be a separate and optional membership. FWIW, you could choose RCI and/or Interval International (II). The Club Guidelines should have exchange tables showing how many WM credits are required for each exchange type.
    • Handy reservation calculator found on the Owner's Vacation Forum: https://www.worldmarktheclub.com/forum/calculator.shtml
      Related: The Owner's Vacation Forum also has a private board for Renting WM credits. You can apply for access after your membership transfers.
    In the meantime, have fun scouring the Resort Gallery and planning your destinations!!

    Fair warning: Timesharing can be quite an addictive hobby. I hope you enjoy the journey as much as we do!
     
    Last edited: Jun 12, 2019
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  12. ecwinch

    ecwinch Moderator

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    Hi D&L and welcome to TUG. I have moved this thread into the Worldmark sub-forum.

    Also here are two links that might help answer some of your questions:

    Worldmark the Club Information and overview! - TUG Advice Article

    Worldmark Program Guide and Resort Directory 2018 . - Booking guidelines/rules that Rhonda mentions start on pg. 327.

    We are both WM and Club Wyndham owners and love the Marriott resorts in Spain - which can be easily booked in the spring via Interval International - which is a great time to visit. Other than that we really use AirBnb for our jaunts to Europe - as that allows us to stay right in the middle of cities.
     
    Last edited: Jun 12, 2019
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  13. sue1947

    sue1947 TUG Member

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    Not with WM. No deposit required. WM works differently with RCI than other timeshares.

    Sue
     
  14. Dan & Laurel

    Dan & Laurel Guest

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    Dave,

    Fantastic advice. Super helpful and very much appreciated. We are amazed at all the friendly advice in response to our question.
    D and L
     
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  15. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    What I meant was that even with WM's "request first" process, if nobody deposits what they want, there won't be an exchange to make.

    Dave
     
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  16. sjsharkie

    sjsharkie TUG Member

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    I'd also add that you may want to consider buying two 20K memberships versus one 40K membership. I have two memberships (20K and 6K). This allows me to have some flexibility in terms of cancelling and rebooking during bonus time and increasing the number of waitlist requests amongst others.

    That being said, I'm happy with Worldmark and hope it continues to be a great supplement to my weeks I own at other locations. I use it mostly to book in South Lake Tahoe and Whistler.

    Good luck.

    -ryan
     
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  17. geist1223

    geist1223 Guest

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    When using RCI or II if where we want to go is not immediately available we try to get your request in about 18 months in advance. Then we try and make the request as broad/flexible as possible - 1 Bedroom Unit or larger in "X" country for 7 days during "Y" month. We also travel to Europe during the Spring or Fall shoulder seasons. I have noticed that Marriott's in Spain are readily available in II.
     
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  18. Dan & Laurel

    Dan & Laurel Guest

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    Hi Sue,
    Great advice! Thanks for the excellent advice. We will definitely put it to use. You are correct, we have been told closing will take 3 to 4 months.

    Dan and Laurel
     
  19. Dan & Laurel

    Dan & Laurel Guest

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    Sue,
    Thanks for the clarification on depositing WM points with RCI. VERY helpful.
    Dan and Laurel
     

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