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End of Year Too Many Points

ljc50

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I need some advise. My elderly parents are Wyndham VIP Platinum level owners who aren't using all their points any longer. It is now close to the end of the year and they still have over 1 million points left with no plans to travel for the rest of the year. Although I already book and rent out weeks for them, I'm trying to figure out what would be the best thing to do with this large number of points so they don't get wasted. Please advise me so I can advise them.
 

Ty1on

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I need some advise. My elderly parents are Wyndham VIP Platinum level owners who aren't using all their points any longer. It is now close to the end of the year and they still have over 1 million points left with no plans to travel for the rest of the year. Although I already book and rent out weeks for them, I'm trying to figure out what would be the best thing to do with this large number of points so they don't get wasted. Please advise me so I can advise them.

They can CREDIT POOL them if they do it by 9/30.
 

ljc50

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What does it mean to Credit Pool them and is there a fee charged for this?
 

Ty1on

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What does it mean to Credit Pool them and is there a fee charged for this?

$39. Basically, you put the points in the credit pool, and you can pull them from the credit pool as you need them over the next 3 years. One caveat is that credit pool points cannot be used for ARP reservations.

Call Owner Services, they can explain it and help you put them in the pool.
 
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ronparise

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What does it mean to Credit Pool them and is there a fee charged for this?

Fee ?
Yes there is a fee but it's a whole lot less than the thousands spent for the maintenance fees on those points

The fee is $39
 

Ty1on

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PS if you are helping them manage a large account like this, I strongly recommend you spend lots of time here on TUG reading past threads in the Wyndham forum and learning everything there is to know about Wyndham Platinum owership.
 

ljc50

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Thanks everyone. I have been trying to learn as much as I possibly can but I run out of time. You know, full time working mom!! One last question about the Credit Pool. When making reservations does one have to specifically indicate when you want to pull points from the credit pool?
 

Ty1on

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Thanks everyone. I have been trying to learn as much as I possibly can but I run out of time. You know, full time working mom!! One last question about the Credit Pool. When making reservations does one have to specifically indicate when you want to pull points from the credit pool?

You can specifically reserve using Credit Pool or regular points. A lot of savvy owners credit pool everything they don't need for ARP as a matter of routine.
 

Bigrob

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Thanks everyone. I have been trying to learn as much as I possibly can but I run out of time. You know, full time working mom!! One last question about the Credit Pool. When making reservations does one have to specifically indicate when you want to pull points from the credit pool?

Yes and no. If you don't specify, the points will be pulled from the earliest expiration date (which will not be from the credit pool). There are certain things credit pooled points are no longer eligible for, so you'll want to make sure you actually want the points in the credit pool - but certainly better than just letting them expire.

Under the new guidelines where cancelled reservations return points to where they came from; credit pooled points can no longer be turned back into points that can be deposited to RCI. They can't be used for other things, such as converting to pay maintenance fees, or airline tickets, or cruises or "Adventure Trips" or the other programs of that type (which in general is not a good use for the points, but better than nothing).

Once credit pooled, the points will have a shelf life of 3 years. If it is a pattern that your parents are not using all their points, you may want to discuss with them what they may want to do going forward.
 

ljc50

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Thanks for that information. We, my two brothers and myself, have been having these conversations with my parents. I haven been trying to learn as much as possible and manage as much as possible, but it is very time consuming. Part of the problem is we don't really know what all the options are as far as moving forward.

I do have a question regarding using points points for airline tickets. Can those tickets only be in the name of the owners or can they be used to purchase airline tickets for whomever the owners would like\?
 

ljc50

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I'm sorry, one more question. Is there a way to indicate taking points from the credit pool when making online reservations or must you make the reservations over the phone in order to do that. I don't recall seeing anything like this while making online reservations.
 

Ty1on

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Regarding deciding what to do going forward, their account isn't without value, though it's a fraction of what they paid in to achieve Platinum. If it transfers to someone within the family, VIP status is preserved. If it is sold outside the family, it will lose VIP benefits.

If they want to hold onto it until the end, and will it to you or a sibling, you should know that you are not obliged to accept the inheritance of the account. If any of you DO want it, it might be a good time to transfer it to that person, and then that person can use it to fulfill any travel wishes your parents have.

If no one in your family wants it, your parents might consider adopting me and then deeding it over to me :)
 

ljc50

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They plan to will it to all three of use children. Splitting it evenly. If they do that, will the VIP benefits be lost? I'll be sure to keep your adoption desire in mind!!
 

Ty1on

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They plan to will it to all three of use children. Splitting it evenly. If they do that, will the VIP benefits be lost? I'll be sure to keep your adoption desire in mind!!

Yes, the VIP benefits would be lost. They can be very handy if you use them correctly. You can stretch the points by getting 50% points discount within 60 days, etc.

How well do you three siblings get along. If well, a better alternative might be for one sibling to manage the account on behalf of all three.
 

Ty1on

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By the way, I suggest you get moving on credit pooling those points, then figure out how to use the credit pool. Once the 9th month has past, your opportunity to pool them is lost.
 

SMHarman

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And there is a company that will manage and rent large blocks of points for you. There was a recent thread on the company.
Seems a good use of a large block of points you want to be headaches free for a period of time.

As others have said if you and your siblings get along then running the account for yourselves and your families keeping g the platinum status is not a bad idea.

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ljc50

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Do you happen to recall the name of the company or where should I search for the tread.
Thank you everyone for all the advise. This has been very helpful.
 

vacationhopeful

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My sister's FIL had a beach condo .. Ocean City Maryland. Beachfront. 2/2 unit. Every Christmas dinner (sister been married 26 years) and I have been going to 20 years worth of Christmas dinners ...

The FIL would hit each of his 3 adult children with the BILL for the settling up of the OCMD condo. My sister has 3 children and one SIL also had 3 kids of similiar ages ... and CHRISTMAS shopping was expensive ... then there is the Christmas day CHECK for the losses on the OCMD condo. And FIL expected THAT check to be written within the hour. After all, FIL and MIL left a day or do later to go back to there winter vacation home.

Plan better with your 3 siblings ... collect monthly. Depending on the underlying deeds, you most likely on in the $200-225 per month level. Get 4 months of reserves UPFRONT. And set up a spreadsheet for WHO uses what points and ANY costs. And run a who USES how many points and who HOLDs reservations for future points values. If their friends or extended families' want vacation time ... charge them the $99 GC fee (yes, you get 15 free per year) .. but take that extra income for SPECIAL ASSESSMENTS which might come along.

Another vote .. keep the ownership together ... that Platinum level was paid for by your parents. If someone wants to split it up ... buy them a set of points on eBay. It has little VALUE as a resale ownership.
 

raygo123

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(2012)Winpointvip was the thread. Under ratings and review

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ljc50

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Thanks but I can't seem to find it. I must be doing something wrong. I can't find ratings and review. I can only find Resorts and Review and I searched that for Winpointvip and came up with nothing.
 

uscav8r

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They plan to will it to all three of use children. Splitting it evenly. If they do that, will the VIP benefits be lost? I'll be sure to keep your adoption desire in mind!!


Unless your parents have over 3 Million developer points Platinum VIP will be lost, but ONLY because it is being split. However, you can put it into a trust with the siblings named as beneficiaries. This preserves the entire account as whole and retains VIP.


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uscav8r

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I'm sorry, one more question. Is there a way to indicate taking points from the credit pool when making online reservations or must you make the reservations over the phone in order to do that. I don't recall seeing anything like this while making online reservations.


No more stalling! Credit pool the points ASAP and then get on with your other unrelated questions on separate threads at your leisure!


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