$19,000+ for Diamond Elite VIP Status Worth It?

[livetraveleat]

We bought 35,000 points resale for $2000 a few months ago. Have done 2 reservations and both times got “invited” to owner’s update to get talked about upgrading to VIP status by purchasing 5,000 extra points. Said no the 1st time, caved in this second time 2 days ago.
The main selling point for us was the Presidential Suite Access benefit where we could book a week during the 10months window for 75% discount rate on points. However, the program is not being implemented yet until next spring, so it’s not a sure thing. Secondly, after checking availabilities for presidential suites at WM Anaheim, I’ve noticed it’s almost bare to none, and absolutely no full week available even for a whole year out.
Has anyone done this upgrade? Is it worth it at all or should we rescind now? Thank you so much!

 

[Eric B]

If it’s not listed in writing in whatever program it’s supposed to be in, it doesn’t exist. 75% at 10 months seems very generous from Wyndham and doesn’t line up with the other benefits they give for developer purchases. I would rescind - if it gets implemented next spring you can buy then.

 

[geist1223]

Rescind. Read your Contract closely. Is it guaranteed in the Contract? Verbal Statements by Sales Folks are worthless. For a very long time Wyndham/Worldmark has not allowed the combining of Resell Credits and Developer Purchased Credits to be combined to acquire any status.

 

[HudsHut]

A 4BR presidential suite at Anaheim is 40,000 credits. (There are only 3 or fewer of these.) You have 35K. You could either borrow 5K from next year, or rent in 5K from other Owners.

WorldMark has never had any discounts on credits. Maybe they'll implement them, maybe they won't. If they do, it will be to get people to 65K or 100K with significant retail purchases.

NEVER purchase on the possibility of a future benefit. Do not attend the sales pitches.

 

[wjpennington]

I'm going to be bold. Any time share system, the value of promised, non contractual benefits is NEVER worth the cost of buying points form the company. if you want more points, then buy points. The cheapest points are always resale. Loyalty programs, premier benefits, whatever they are called, all have common factors: they are not guaranteed, can change at a moments notice, and will never, ever, pay for the extra cost of buying points directly from the timeshare. Never. Benefits program are not a promise, but you are signing a lasting binding contract; therefore the benefits should not weigh in at all on your decision making, only the value of the added points, and in that case, resale always wins.

 

[sue1947]

Is it worth it at all

Absolutely not.

Run the numbers: You are paying over $18,000 over resale for those 5000 credits. What do you get? Your main goal seems to be the promised (by sales well known for lies) 25% discount. At Anaheim, that discount is 10000 credits which can be rented from other owners for $700. The promised Diamond level at TS probably isn't real; they haven't allowed resale credits to achieve travelshare levels for many years, but even if it is; look carefully at what you actually get. The dues pay for internet ($50/year) and RCI access. That pretty much it for your extra $18,000. Travelshare just isn't worth much of any extra money, and certainly not this much.

Do not attend the sales pitches.

This. They are aggressive and pushy, so just walk on by the 'concierge/parking pass guru/owner update' or whatever they change their titles to. They are sales vultures who get paid for every 'mark' they can convince to attend the sales pitch.

And also, holy cow; $19 grand for only 5000 credits? almost $4/credit? That's the highest I've seen. Really; stay away from sales. There are no 'owner updates' or 'invitations'. Just walk on by.

 

[livetraveleat]

Thank you everyone! I’ll be sending in the rescinding letter today! I found the address from Tug, but just want to make sure, is there a specific form that I need to use, or as long as the contract number and all signatures on there then it should be good? Thank you again!

 

[Huskerpaul]

Use the rescission address included in the paperwork you received at the time of the sale and make sure it matches the one you sent you rescission letter to. If there is any difference at all send another letter.