ElwoodGator
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- Jul 14, 2026
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Apologies in advance for the long thread - just want to be clear about my situation.
Did a stay at Bonnet Creek this weekend, booked with our existing Select membership points purchased about a year ago. They talked me into an Owner Update meeting by offering to "convert" our Select membership to a "hybrid" plan that has xyz benefits (e.g., can book 1-night stays, can carry over unused points, and earlier access to booking window for some places), at supposedly no cost. Made it sound like it was just something they're offering every Select owner to do. It wasn't until a half hour into it that I realized what they were asking for was for me to finance a $50K loan to do this "conversion", which normally I would not even have thought about doing, BUT... they sprung something on me that I wasn't expecting and didn't know much about.
Apparently somewhere within the contract for the 300K Select points we bought last year for $76K, there was a term that was supposed to represent the sum total of all the maintenance fees they expected us to be paying out over the next 10-12 years, and this figure was around $113K. I don't remember ever seeing this number, but she had it in black and white on a document that looked like a contract. But she's telling me that because our home resort is so popular (Daytona Beach), and it's prone to potential hurricane damage, etc., that my MF's will be going up at a ridiculous rate. Our fees now are $225, and she was trying to convince me that next year it will be around $325, following year around $475, etc. And my way out of this $hitty situation I've found myself in is to do this conversion, which will lower those annual increases to more "normal" amounts. Also, she said that $113K, if I don't do the conversion, will "reset" after that initial 10-12 year period, and it'll be even larger, with larger annual increases, etc. Doing this conversion would apparently stop that resetting. And that with our Select membership we will also have insurance protection against storm damage, which apparently it doesn't now. Between all of these factors, we essentially agreed to it out of fear of these things being true.
Upon signing all the paperwork, I got the impression that all we really did was just buy 200K Access points for $44K (they'd given us "discounts" to lower the original number). I didn't have time to read through all of it at the time to confirm, but I just now did that, and I see nothing in the paperwork that suggests anything was changed about our original 300K Select points. Nothing about MF increases, additional insurance protections, or any of that. It was purely a new additional contract for the 200K Access points.
Can I assume that's what actually happened, and that even if she was telling the truth about the god-awful annual MF increases, we're still going to be subject to that? What I think is true is that all of that was sales BS meant to instill that fear in us and none of it is true. Well, actually the one thing that is probably true is that we get access to the 13 month booking window using the Access points, which is one of the benefits they were telling us about.
Any other owners experiencing this, going into an "owner update" meeting?
I assume most of y'all would agree that I should send a rescission letter, because going into that meeting, we did not feel like we needed more points (and still don't). We would get the benefit of being bumped up to "Silver" level (500K points), but that's not worth the additional payments we'll be on the hook for.
Also, I've seen some folks on here suggest that if you sign a different contract (after an original one) that the new one replaces the original, and so if we request to cancel this new one, it may also cancel the original. I want to make sure this isn't the case, because we do want to keep the original (unless they'd actually refund the $76K we bought it for last year). I just don't see them doing that. They're two different contracts with two different contract numbers, and I didn't see anything in the paperwork about the newer one replacing the older one.
Would appreciate any thoughts or advice here. Thanks so much!
Did a stay at Bonnet Creek this weekend, booked with our existing Select membership points purchased about a year ago. They talked me into an Owner Update meeting by offering to "convert" our Select membership to a "hybrid" plan that has xyz benefits (e.g., can book 1-night stays, can carry over unused points, and earlier access to booking window for some places), at supposedly no cost. Made it sound like it was just something they're offering every Select owner to do. It wasn't until a half hour into it that I realized what they were asking for was for me to finance a $50K loan to do this "conversion", which normally I would not even have thought about doing, BUT... they sprung something on me that I wasn't expecting and didn't know much about.
Apparently somewhere within the contract for the 300K Select points we bought last year for $76K, there was a term that was supposed to represent the sum total of all the maintenance fees they expected us to be paying out over the next 10-12 years, and this figure was around $113K. I don't remember ever seeing this number, but she had it in black and white on a document that looked like a contract. But she's telling me that because our home resort is so popular (Daytona Beach), and it's prone to potential hurricane damage, etc., that my MF's will be going up at a ridiculous rate. Our fees now are $225, and she was trying to convince me that next year it will be around $325, following year around $475, etc. And my way out of this $hitty situation I've found myself in is to do this conversion, which will lower those annual increases to more "normal" amounts. Also, she said that $113K, if I don't do the conversion, will "reset" after that initial 10-12 year period, and it'll be even larger, with larger annual increases, etc. Doing this conversion would apparently stop that resetting. And that with our Select membership we will also have insurance protection against storm damage, which apparently it doesn't now. Between all of these factors, we essentially agreed to it out of fear of these things being true.
Upon signing all the paperwork, I got the impression that all we really did was just buy 200K Access points for $44K (they'd given us "discounts" to lower the original number). I didn't have time to read through all of it at the time to confirm, but I just now did that, and I see nothing in the paperwork that suggests anything was changed about our original 300K Select points. Nothing about MF increases, additional insurance protections, or any of that. It was purely a new additional contract for the 200K Access points.
Can I assume that's what actually happened, and that even if she was telling the truth about the god-awful annual MF increases, we're still going to be subject to that? What I think is true is that all of that was sales BS meant to instill that fear in us and none of it is true. Well, actually the one thing that is probably true is that we get access to the 13 month booking window using the Access points, which is one of the benefits they were telling us about.
Any other owners experiencing this, going into an "owner update" meeting?
I assume most of y'all would agree that I should send a rescission letter, because going into that meeting, we did not feel like we needed more points (and still don't). We would get the benefit of being bumped up to "Silver" level (500K points), but that's not worth the additional payments we'll be on the hook for.
Also, I've seen some folks on here suggest that if you sign a different contract (after an original one) that the new one replaces the original, and so if we request to cancel this new one, it may also cancel the original. I want to make sure this isn't the case, because we do want to keep the original (unless they'd actually refund the $76K we bought it for last year). I just don't see them doing that. They're two different contracts with two different contract numbers, and I didn't see anything in the paperwork about the newer one replacing the older one.
Would appreciate any thoughts or advice here. Thanks so much!