Do I need to deposit RCI points?

[Medcinmn]

I recently closed on an RCI points unit (resale). Will my points automatically be deposited each year, or do I need to call RCI and have them deposited like I do my weeks units?

Thx,

Aaron

 

[DianneL]

We deposit weeks but RCI takes points

I am not a points expert, but am new to the points system. I, too, just purchased a week that has been converted to points. I am a RCI member but a weeks member. I talked with RCI about this and was told they would set me up as a Points member, as points members have access to the "weeks" side of the website but "weeks" people cannot access points. I was told it could take about six weeks for them to set up this Points account for me and I would be receiving material from them. However, to answer your question, I was told that if I wanted to use the week at my resort, which I do plan to do, I must call RCI in advance to do this, otherwise RCI automatically deposits the points in my points account for my use. I believe she told me I must call 11 months in advance, and someone else told me 11 to 13 months in advance of the beginning of my week.

 

[Pit]

By joining RCI Points, you (or the previous owner in this case) essentially deposited your week with RCI for a pre-determined period of time (usually 3 years). In return, you receive an annual allocation of Points, a form of currency that you can spend in various ways (including exchanging some or all of those points to use someone elses t/s).

In order to guarantee use of your own week (i.e. to keep it out of the exchange pool inventory), you must reserve it between 13-12 months ahead of check-in. From 12-11 months prior to check-in the unit is in the Home Resort reservation period, which means it is still available to you but also to any other owners at your home resort. From 11-10 months prior to check-in, your week is in the Home Group reservation period - meaning it is available to any owner at any resort within your resort management group. Starting at 10 months prior to check-in, the unit is available to all Points owners.

You can reserve your week at any time starting from 13 months out, provided it has not been taken by someone else. Thus, to guarantee your own week, you must reserve it in the 13-12 month Home Week period. Hope that helps.

As to your original question, no, you don't have to deposit your Points. They are your reward for depositing your week.

 

[california-bighorn]

You need to check with your resort to find out what their policy is on depositing. We have been RCI Points owners for 7 years and we have to contact out resort and have them deposit into our Points account for us.
I know other resorts do automatically deposit unless notified not to.

 

["Roger"]

Marty's answer is correct. You need to check with the resort.

In many cases, the resort automatically deposits the points, but you have to do it the first time. Others do it automatically from the beginning. In still other cases, you need to contact the resort every year. (I prefer the latter system, but it is not too common.)

 

[Pit]

This may be a matter of sematics, but you don't deposit Points. You deposit your week and receive Points. You may be interested to read the RCI Disclosure Guide, which contains the fine print. In that document, you can find the following:

The Network uses a Deposit system. By executing a Network Participation Agreement, the RCI Points Subscribing Member Deposits with the Network all rights of use, occupancy, access and enjoyment in respect to his or her Vacation Time. The Member retains title to his/her Vacation Ownership, subject to this Deposit. The Deposit is for the benefit, use and enjoyment of the Network Administrator in accordance with the Network Documents. The Deposit shall be for a term equal to the stated term of the Member’s Network Participation Agreement, subject to the Network Documents.

Notice the last sentence in that paragraph. Where I own, the stated term of the NPA is 3 years, and anecdotally, that duration is quite common. Thus, when I join (or agree to contine in) the Points program, I am depositing my unit for a 3 year period. I do not need to (nor can I) reconsider that decision on an annual basis. I can, however, elect to use my own week by reserving it within the 12-13 month Home Week period. When I do so, I am technically making an exchange - my annual Points allocation in exchange for my own unit. RCI does not (yet ) charge an exchange fee for the Home Week exchange.

So, at the risk of being repetitive, you do not deposit your Points. You receive Points for depositing your week. As others have noted, the duration of your deposit (as established in the NPA) varies by resort. Contact your resort for the details. Hope that helps.