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Can Fairshare Plus Points be "carried over" past the year of issuance?

theo

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My younger brother is in the process of purchasing (resale) a EOY (even years) deeded fixed week ownership at a Wyndham facility. The ownership has apparently already been converted to Fairshare Plus points. He knows about the 13 months out reservation requirement to guarantee himself access to his own (but not-yet-closed) purchase / fixed week.

No 2008 reservation was ever made by the seller and the points issued for 2008 were not otherwise used or committed. The underlying deeded week for 2008 has long since passed. The limited documentation my brother has in possession, which I skimmed through briefly last night, suggests that the 2008 points will (predictably) expire on 12/31/08. He doesn't care about those 2008 points --- it's the underlying week that he really wants, beginning in 2010.

That's the background info. I'm curious --- is there any way, with or without a fee (if so, what's the fee?) for him to salvage and "carry over" those 2008 points beyond 12/31/08? It seems highly unlikely to me that all closing details will actually be completed until just before the end of this calendar year 2008, so actually using those points anytime within the short remainder of 2008 seems somewhere squarely between highly unlikely and outright impossile.

Informed input (vs. mere speculation) would be welcomed and appreciated.
Thanks in advance.
 

timeos2

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Yes - maybe

In order to transfer points to the "pool" for future use the request has be done prior to the start of the use year. I think there is an opportunity to bank them as "limited use" points. But it should be done by the current owner or the time will run out. They will transfer to the new buyer when the sale is closed (it can take MONTHS to accomplish as Wyndham is VERY slow to complete resale or retail paperwork). There is a fee to make the deposut to the pool or limited use - $35 as I recall.
 

Jya-Ning

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I think the 2008 point is regular point. The seller did not use it at all.

You can not put into credit pool once the use year starts, Even if the old owner is plantimun owner, there is no way to put after 9 month (ps. sorry, 9 month is the end of this month, but that means the originally owner has to be Plantimun and sell all his points your your brother, which does not seems is the case here).

Ask them deposit to RCI account, and transfer all as the RCI weeks to your brother is one way.

Post a for rent ad in forums.atozed.com and ask them to transfer the points to the renter is another way.

Or just ask them to make a reservation, get Guest certification. Unless you are looking at X'Mas, there should have some decent places.

Jya-Ning
 
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theo

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Thanks for your input. This purchase may not actually even close before the end of calendar year 2008 anyhow, so options may prove to be very limited indeed (which, as I mentioned, is apparently of no real concern to my brother anyhow). He (like me) has no particular use for RCI (he may not even be a RCI member at all, actually), so that path also appears to be a non-starter. Thanks again for your input. Much appreciated.
 
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Jya-Ning

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Thanks for your input. This purchase may not actually even close before the end of calendar year 2008 anyhow, so options may prove to be very limited indeed (which, as I mentioned, is apparently of no real concern to my brother anyhow). He (like me) has no particular use for RCI (he may not even be a RCI member at all, actually), so that path also appears to be a non-starter. Thanks again for your input. Much appreciated.
If he keeps the week converted in the FSP program, part of his membership fee will cover the RCI membership fee. He will get a free RCI week account.

Jya-Ning
 

acesneights

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An EOY converted week would seem to be about the worst FSP purchase I can think of.

Is your brother getting paid to take this over?

Why purchase an EOY fixed week conversion with 1st use in 2010?

You are paying an annual FSP program fee for EOY use.

What are the MF? How many points?


Stan
 

theo

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Here's what little I know...

>> An EOY converted week would seem to be about the worst FSP purchase I can think of. Is your brother getting paid to take this over? <<

No, but he is paying next to nothing for it, to someone he knows who evidently has no further interest in it. I don't even think there is any money involved ---'bro is a NE Patriots season ticket holder and I think he's giving the "seller" a pair of good tickets to a single game as the "consideration" in the transaction. 'Bro has also agreed to pay any and all closing costs.

>> Why purchase an EOY fixed week conversion with 1st use in 2010?<<

He plans to retire in 2009 (God willing) and he already owns an EOY (odd) week (not Wyndham associated) in the same geographic area. He knows and likes the "home" resort in this pending transaction. He also believes (....right or wrong, I don't personally claim for one moment to know) that he can "drop" the FSP points conversion, at no significant cost, with a single phone call --- and revert back to the underlying, deeded, fixed week for his guaranteed use without ever having to play the "10-13 months out reservation game". Is he mistaken in this particular belief?

>> You are paying an annual FSP program fee for EOY use. <<

I don't know what an "annual FSP program fee" is, but in the paperwork I saw the EOY "maintenance fee" clearly seems to mathematically be almost exactly one half of the amount of an annual use MF. Is he missing something??? Is the "annual FSP program fee" to which you make reference someting separate, apart and additional to maintenance fees?

>> What are the MF? How many points? <<

EOY MF was somewhere under $400 per year (annual use MF is not much less than $800), although I do not recall the precise figures. The amount of points (EOY) was around 140k.

It's interesting that you think this is not a good deal (you may very well be right --- I don't claim even for one moment to know). 'Bro seems to feel that it's a good deal, fitting well into his future plans. Maybe he's missing something. If you have any specific thoughts on what that "something" might be, I'd certainly be grateful and glad to relay them (or get him to join TUG and "read up" on the responses here for himself). :shrug:
 
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Jya-Ning

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He also believes (....right or wrong, I don't personally claim for one moment to know) that he can "drop" the FSP points conversion, at no significant cost, with a single phone call --- and revert back to the underlying, deeded, fixed week for his guaranteed use without ever having to play the "10-13 months out reservation game". Is he mistaken in this particular belief?
Your brother is right on this.

Is the "annual FSP program fee" to which you make reference someting separate, apart and additional to maintenance fees?
If he drop out FSP program, he will not have to pay that fee. If not drop the FSP program (actually for first 2 or 3 years, maybe he wants to keep it so he can rent points from owners and do few internal trade, RCI exchange stuff if he wants), he will have to pay the membership fee on top of the MF.

EOY MF was somewhere under $400 per year (annual MF is nearly $800), although I do not recall the precise figure. The amount of points (EOY) was somewhere around 140k.
I will guess that 400 per year also includes the FSP membership due, which is around 100 per year. So the MF is close to $600. So I will guess your brother probably get a 2 or 3 BD of the resort. Don't know the season, but if he is get a prime seaon, I would not believe it is a bad deal, asuume it is around the Summer vacation in the RI?

Jya-Ning
 

acesneights

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Sounds OK. The FSP Program fee is about $100 or so per year and he gets a "free" RCI membership.

He can try using the points to exchange back into his own week (or 1 just like it) for perhaps 28K and use the rest of the points elsewhere.

He can also rent points from other FSP owners or from WYN.

He gets all the benefits of having a FSP account.

I wouldn't abandon the conversion so lightly.

The 28K RCI exchanges can be very good for a retiree. So are the Last Minute weeks for $199 or so and the Extra Vacations can be useful as well.

The $5.56/K MF is not too bad and for a "free" week it's pretty decent.

The week would probably sell for $700 as a converted week.

Stan
 

timeos2

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Do NOT let the points drop

He plans to retire in 2009 (God willing) and he already owns an EOY (odd) week (not Wyndham associated) in the same geographic area. He knows and likes the "home" resort in this pending transaction. He also believes (....right or wrong, I don't personally claim for one moment to know) that he can "drop" the FSP points conversion, at no significant cost, with a single phone call --- and revert back to the underlying, deeded, fixed week for his guaranteed use without ever having to play the "10-13 months out reservation game". Is he mistaken in this particular belief?
It would be a BIG mistake to allow the week to return to a fixed week should he ever want to sell it. The rules for former fixed weeks are not the same as UDI - he doesn't need to drop points to "avoid the 13 month game" (which isn't as bad as he may think anyway). Tell him to keep it points and to find out how to claim his fixed week use if thats what he plans to do most use years.
 

theo

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My thanks to Jya-Ning, Stan and John for the input. I remain just a bit confused on a few details cited:

>>He can try using the points to exchange back into his own week (or 1 just like it) for perhaps 28K and use the rest of the points elsewhere<<

Does this mean that even AFTER booking his own 2BR week, he then still has over 100k points left over??? I guess I had assumed (perhaps incorrectly) that the 140k points was, in fact, the exact points value "requirement" associated with reserving the underlying deeded, fixed, 2BR week. No???

>>....the benefits of having a FSP account. <<

What would those other benefits be? Maybe he shouldn't be too hasty in just "locking up" the underlying fixed week after all by dumping the FSP points conversion....
 
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Jya-Ning

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>>He can try using the points to exchange back into his own week (or 1 just like it) for perhaps 28K and use the rest of the points elsewhere<<

Does this mean that even AFTER booking his own 2BR week, he then still has over 100k points left over??? I guess I had assumed (perhaps incorrectly) that the 140k points was, in fact, the exact points value "requirement" associated with reserving the underlying deeded, fixed, 2BR week. No???

>>....the benefits of having a FSP account. <<

What would those other benefits be? Maybe he shouldn't be too hasty in just "locking up" the underlying fixed week after all by dumping the FSP points conversion....

I finally read the directory. I will guess it is Long Wharf 1 BD at Prime Summer. So there is no way I will try to use exchange route in hoping that I can deposit a 28k and get exchange for RI week in suumer. But if he every get tired of going there during summer, and does not want to rent it out, then he sure can deposit it as 28k interval, and get some off season exchange back.


The main benefit is it allow you some flexibility. He now can treat the 1BD as lock off in some year. He can borrow points from Wyndham (upto 140k but no housekeep credit) or Other owners (unlimited, and usually carry free housekeep credit) when at the other year and take trip. He should get 70 free house keep credit per year. So on the year his week, it covers his 1 week. On the year of his off week, he can borrow from Wyndham for 90 days or within trip, or make at least 2 stdio deposit to RCI. But I don't know if he will get any free transaction credit or not.

Before 2010, the rule for GC should get changed and implemented, so he should get one GC free. In that case, to keep it in the FSP program, all he paid is some amount close to RCI membership fee. But he will be able to use RCI LC, EV, and access to Wyndhma internal exchange. Which are all very good for one with a lot of flexibility. ANd if he want his week, I believe he can always get it from 13 to 10 month. But he should check with VC about the time.

He can start explore these from next year, using borrow, to see if he like it or not before make any decision. And if he adds more points, it will reduce his program fee cost per point base.

Jya-Ning
 

basham

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I will guess it is Long Wharf 1 BD at Prime Summer.
Jya-Ning
Probably right given the 140K points and the MF is in the area.

There is only one 1BR unit in the resort.

I also think your brother should not discard the points conversion.

He will have the benefit of using or renting the unit as well as access to the Wyndham system and all the other resorts in that system at other times.

Seems your bro has found a pearl.
 

acesneights

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But you could get a RI from about October through May for 28K or somewhere else in New England for 28K.

I agree you won't get Long Wharf prime summer for 28K.

But you could probably get 3-5 days at LW at 10 months out and use the extra points for another RCI exchange.

You might also get a different RI resort for 28K.

Lots of possibilities.

But he can always get his own fixed week back from 13 to 10 months and one day out.

Stan
 
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