Finally broke down and bought WorldMark

[Steve]

I did it. Despite my concerns about Cendant's ownership of Trendwest and a few other issues, I just purchased a WorldMark membership. I think it will be a lot of fun. This is my first points-based timeshare ownership, and it should be a nice addition to my timeshare portfolio.

One question I have is that I am purchasing a 7000 credit membership. Often I will need 10,000 credits for the reservations I am looking for. Where have you found to be the best place to purchase one time use credits? Ebay? WMOwners.com? Someplace else? (I realize I can borrow credits from the next year...and my membership has 9500 credits available now.)

It seems that several WorldMark owners here on TUG have suggested buying a smaller credit package and then just purchasing one time use credits rather than buying a 10,000 or 12,000 credit membership which costs a lot more and has higher maintenance fees. That's what I am doing, and hopefully it will work out great. (Of course, I can buy an additional membership and combine it into my first account if I choose in the future.)

I'm aware of the 4000 credit flexchange opportunities through II, but I plan to use my WorldMark credits mostly at WorldMark resorts as I have other weeks I can exchange through II.

Any thoughts or suggestions?

Thanks,

Steve

 

[RichM]

Welcome to the WorldMark family

I've rented a couple times by posting a request on the wmowners.com forum. There's also a credit rental thread on the TW4M although I don't have any experience using it. There are also WM brokers that buy/sell accounts that also rent out credits. I've seen various brokers names/referrals mentioned on wmowners.com in reply to people looking for credits to rent.


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[RichM]

Also, I once calculated that if I rented an extra 5,000 credits at 6cents each per year beyond the 12,000 I own, that the cost to rent the 5,000 credits per year would not equal the cost to add 5,000 permanent credits at 70 cents each, plus the increase in Maintenance Fees) for 30 years. At 7 cents rental each it would take 21 years before I would break even purchasing permanent credits.

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[PClapham]

wm credits

What is the current "fair" price to rent credits?
Thanks
Anita

 

[RichM]

Maintenance fees generally run around 4 cents per credit. Bonus time and Inventory Specials can be booked at 4.2cents. FAX credits are available for 8 cents from TW (with some red season restrictions). Somewhere between there is where rental prices seem to fall. I've seen 6 and 6.2 quoted as recent figures.

With the expiration dates enforced more on credits now there may be bargains to be had on soon-to-expire credits. As long as you book before they expire and don't try to cancel/rebook later they're still just as good.

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[Steve]

Just found that there are tons of credits for rent from individual owners right on the official WorldMark website. It looks like WorldMark allows anyone who wants to post credits available for rent. That's a great resource, and very helpful to the members. You're not supposed to list prices, but I bet there are some good deals to be had.

Steve

 

[LLW]

I did it. Despite my concerns about Cendant's ownership of Trendwest and a few other issues, I just purchased a WorldMark membership. I think it will be a lot of fun. This is my first points-based timeshare ownership, and it should be a nice addition to my timeshare portfolio.

One question I have is that I am purchasing a 7000 credit membership. Often I will need 10,000 credits for the reservations I am looking for. Where have you found to be the best place to purchase one time use credits? Ebay? WMOwners.com? Someplace else? (I realize I can borrow credits from the next year...and my membership has 9500 credits available now.)

It seems that several WorldMark owners here on TUG have suggested buying a smaller credit package and then just purchasing one time use credits rather than buying a 10,000 or 12,000 credit membership which costs a lot more and has higher maintenance fees. That's what I am doing, and hopefully it will work out great. (Of course, I can buy an additional membership and combine it into my first account if I choose in the future.)

I'm aware of the 4000 credit flexchange opportunities through II, but I plan to use my WorldMark credits mostly at WorldMark resorts as I have other weeks I can exchange through II.

Any thoughts or suggestions?

Thanks,

Steve

I wondered if that Steve who posted on WMO was this Steve. As Rich said, welcome to the WM family. Yes, you will find it a lot of fun.

A few suggestions on maximizing the benefits of your WM points:
1. Make use of Inventory Specials (60 days), bonus time (14 days), and exotic bonus time (30 days), all of which will give you usage at 4.2 cents per credit. Right now we are starting to book I.S. for April. Exotic bonus time is for Hawaii, Mexico except Rosarito Beach, and Fiji. Fiji is also often in Inventory Special.
2. Print out the on-line Owners Education Handbook, read it cover to cover, and refer to it to get familiar with the WM system.
3. Read the WMO forum often to catch up on the latest tips and tricks.
4. Depending on what other timeshare you have, don't dismiss the WM/II Flexchange off hand - look and see if you can catch weeks that you want that you can't catch with your other weeks, or, it may be cheaper with the 4000 point exchange.
5. Also, you may want to look into the 4-6,000 WM spacebank, discussed on WMO's Vacation Exchange and Sightings forums. If you are lucky and know what you are doing - you should with your experience - those are true bargains that you may score months in advance of the Flexchange period for better planning.

Welcome to the fun and hunt.

Just found that there are tons of credits for rent from individual owners right on the official WorldMark website. It looks like WorldMark allows anyone who wants to post credits available for rent. That's a great resource, and very helpful to the members. You're not supposed to list prices, but I bet there are some good deals to be had.

Yes, the offcial web site has more credits to rent than WMO - because most people on WMO can't have enough credits, whereas many posters on the official site don't know how to use their credits, and they are often referred there by WM staff. By the same token, they often don't have any idea what the fair market price for rental credits (or permanent credits) is, and you might have to educate them.

 

[Steve]

Thanks for the warm welcome, RichM and LLW, and for the great suggestions. I'm looking forward to many great WorldMark vacations. I can think of 5 or 6 I'd like to take right away...but with the other trips I already have planned and with my work...I'll have to spread them out over the next few years.

One feature I just love about WorldMark is the ability to string together a vacation of a week or more at 2 or 3 different resorts...instead of having to spend a whole week at each one. That's a great option...especially since I enjoy road trips.

Steve

 

[allenke]

One feature I just love about WorldMark is the ability to string together a vacation of a week or more at 2 or 3 different resorts...instead of having to spend a whole week at each one. That's a great option...especially since I enjoy road trips.

Steve

Welcome Steve (and definitly spend time on the uncensored wmowners.com site where you can ask any question also about WM to get anwers.

I just finished getting back last Sunday from a trip Spanning from San Diego up to Moneteray and back down to San Deigo using 4 different WM resorts (one twice). I too, love this benefit in owning WM.

I typically rent credits for less then 6 cents per credit, but usually have to go through 5 or more offers to get it as the going price is about 6 cents per credit. You are able to book a unit using FAX credits and paying 8 cents per credit (which includes the house keeping fee) rathing using your own credits. If you are staying two days or less (like for weekend get aways), the cost is the same as renting credits from another member for 6 cents per credit and adding a house keeping fee. So, if you are renting credits for just weekend get aways, then it does not make sense to pay 6 cents per credit. More than a two day stay becomes more expensive when using FAX credits. You can use unlimited FAX credits during White and Blue season, but only once every 5 years for Red Season at the 8 cents per credit. So, you can book a weekend 13 months out in white or Blue season with FAX credits for just a weekend ensuring you the best location/view.

Lots of little tricks to learn, so be sure and visit wmowners.com often.

Again, welcome.

Ken

 

[LLW]

I can think of 5 or 6 I'd like to take right away...but with the other trips I already have planned and with my work...I'll have to spread them out over the next few years.

With WM, if you book between 60 days and 13 months before, you have up to 30 days before to cancel WITHOUT ANY PENALTY. So you can start having fun by starting to book as soon as you know where you would like to go and when. The earlier you book, the higher priority you will have on unit assignment. On the flip side, people cancel a lot because of the liberal cancellation policy, so when it gets close to check-in, there is still a chance of availability to suit your last-minute plans, unless it is one of the most popular resorts. You can also get on a waitlist if there is no availability. The waitlist cancels at 14 days before, when bonus time starts.

One feature I just love about WorldMark is the ability to string together a vacation of a week or more at 2 or 3 different resorts...instead of having to spend a whole week at each one. That's a great option...especially since I enjoy road trips.

The minimum of 1 week goes away at 60 days prior, when you can start booking for as few as 1 day, if there is still availability. However, if there are a few days available all by themselves (only space available), you may book them up to 13 months before, although you have to take all the days that are available. Also, this is for red season only. In white and blue season there is no minimum of 7 days, and you may book fewer days up to 13 months before. And if you use FAX credits, there is no "once every 5 years" restriction, if it is white or blue season.

Have fun!

 

[HudsHut]

Welcome to WorldMark, Steve!. I'm delighted that you purchased. I think you will find it enjoyable. Where's your first vacation?

Rich hit the nail on the head when he said that those of us on wmowners.com are usually in need of more credits, because we maximize our usage!

Cheers,
Maria
WM owner since 1999

 

[RichM]

Rich hit the nail on the head when he said that those of us on wmowners.com are usually in need of more credits, because we maximize our usage!

Actually, that was Louise (LLW) that said it, but I agree

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[HudsHut]

Rich, Louise:
Ooops, I read all the replies, but then I didn't go back and actually check who made the quote. All the information you both posted was very helpful, not only to Steve, but to current and potential WorldMark owners.

Thanks,
Maria