Accelerated Redemption of Royal Holiday Credits

[Spence]

From their Operating Guide

Accelerated Redemption of Holiday Credits
A Member, who on the Purchase Date is 50 years old, or older, shall
have the right to accelerate the redemption of one’s Holiday Credits over a period of not less than fifteen years. Such a Member may exercise this
benefit by adding to one's Holiday Credits Account for a specific year a
maximum amount of Holiday Credits corresponding to the Member’s Entry
Level in a calendar year, and may only accumulate up to twenty percent of
the Holiday Credits of their Entry Level without taking in to account the
Holiday Credits accelerated that certain year. Such Accelerated Holiday
Credits shall be debited from the last year of the life of one’s Membership.
A Member accelerating the redemption of one’s Holiday Credits shall
pay the Annual Club Fee for the normal year of usage, as well as for the
Accelerated Year.

It's often been talked about that this could be done by an owner who turns 50 during the term of the contract, but the guide doesn't say that. Anyone with personal experience accelerating credits? I'm looking to do it for 2008 for a big trip to Europe with extended family.

 

[JoeMid]

Accumulation of Unused Holiday Credits

Thanks for the link. Another question for the group.

Accumulation of Unused Holiday Credits
Members may accumulate annually, from one year to the following, up
to twenty percent of the Holiday Credits corresponding to their Entry Level.
Those unused Holiday Credits may be used only the following Calendar
Year, otherwise, such credits shall expire, and be null and void. Unused
Holiday Credits surpassing the above-mentioned percentage are not
subject accumulation.
Regardless of what is stated in the preceding paragraph, a Member
may, up to a total of ten (10) times during the life of one’s Membership,
carry forward from one year to the next an amount equal to the total
number of annual Holiday Credits credited to one’s account, provided that
such Holiday Credits were not previously redeemed for the use of Lodging
Units or Other Benefits. The total number of Accumulated Holiday Credits
not redeemed for Lodging or Other Benefits during the year to which they
were accumulated, shall expire, not subject to accumulation to the
following year, and be considered as null and void.
This benefit of carrying forward an amount equal to the total number of
Holiday Credits may only be exercised by a Member in good standing,
having paid the Annual Club Fee on time for the Membership year to be
accumulated. This accumulation feature may not be used in succeeding
years. This accumulation of Holiday Credits is not automatic. Any Member
requesting to accumulate Holiday Credits not redeemed during a year shall
provide written notice to the Management Company on or before
December 31st of that year. The benefit of accumulation is not valid for
Holiday Credits that have been accumulated from previous years

Somewhere I've seen it quoted that you can do this only once every 3 years (over the 30 year term of the contract that works out to 10 times) but this paragraph is more liberal in saying you can do it ten times period. Anyone with experience accumulating RHC credits, I've done the 100% only once and thought that I had to wait three years to be able to do it again, but the above statement says I could do it 10 years running.

 

[rsonc]

I have used it and I think I have done it twice so far. I am only 39 years old, they have never asked me my age but I guess the person that I purchased it from was over 50 year old.

Good luck,
Susan

 

[wvanly]

I just booked a trip to travel with friends for 2007 for which I needed additional points. My husband will be 50 in 2007, I just told them and they let me accelerate off the end of my contract. They didn't even ask for proof. Maybe as Susan said, the person I purchased from was over 50 or maybe they just don't follow the rules that closely.

I have been able to carryover my full points every other year and only 20% on the opposite year. I did lose some points on the off year, because they would only let me carry over 20%. It wasn't alot but it was a loss. So I don't think the 10 years running would work.

Wendi

 

[Spence]

I just booked a trip to travel with friends for 2007 for which I needed additional points. My husband will be 50 in 2007, I just told them and they let me accelerate off the end of my contract. They didn't even ask for proof. Maybe as Susan said, the person I purchased from was over 50 or maybe they just don't follow the rules that closely.

I don't think they check or care, they're so money hungry, they're glad to have more money now (accelerated MFs) and I bet that there are more people accumulating than accelertating so they need to balance it out.

I have been able to carryover my full points every other year and only 20% on the opposite year. I did lose some points on the off year, because they would only let me carry over 20%. It wasn't alot but it was a loss. So I don't think the 10 years running would work.

I was being a little facitious as who would want to do it every year, that would not make sense, but the way their Operating Rules read, you could. I've seen statements both saying once every two or once every three....

 

[Hoc]

I don't think they check or care, either, but be very careful: The posters above are confusing two separate concepts.

The first is the one that lets you carry over points from one year to the next. This is allowed without regard to your age. You can carry over 100 percent of points one year, only 20 percent the next, then 100 percent the following year. Your age has nothing to do with this.

There is an entirely separate provision that lets you borrow points from the back end of your contract. So, in any particular year, you could potentially have 3 times your annual points, because you can carry over 100 percent from one year, plus borrow 100 percent from the end of your contract. This "borrowing" provision applies only if you are over 50 years old at the time of purchase. But, again, I don't think they check or care.

 

[royalholidayclubbed]

Every year...?

Thanks for the link. Another question for the group.

Somewhere I've seen it quoted that you can do this only once every 3 years (over the 30 year term of the contract that works out to 10 times) but this paragraph is more liberal in saying you can do it ten times period. Anyone with experience accumulating RHC credits, I've done the 100% only once and thought that I had to wait three years to be able to do it again, but the above statement says I could do it 10 years running.

I understood that once allowed (and as some others have said here on TUG you don´t always need to show proof you are over 50 and have done it under-age) you can do it EVERY year up to the 10 times limit.

Anyone got other data?