Have one enrolled week + some Destination points should I give up week and do all points? [MERGED]

[maryk]

We currently have 1 enrolled week in Gold 2bd/2Ba at Harbour Lake that is EOY which I always turn into Destination Points . We also have Destination points we get every year.

We have the opportunity to turn in our week and get every year points. But we would stay in the same benefit category.

What would be the plus and minus of giving up my week and just do points, other than the obvious of having the EOY points now every year?

Thanks in advance for any and all advice.

maryk

 

[Fasttr]

And this swap would cost you what?

 

[DanCali]

I assume this is not free?

Also, assuming your EOY week is used purely as a points generator, what is the MF you pay over 2 years for those EOY points? How does that compare to the MF/DC Points?


Sent from my iPhone using Tapatalk

 

[Fasttr]

The MF/point on that week is fairly high I believe…. Low 70 cent range as I recall. But that small delta vs pure points would not offset any cost to make such a swap. If OP needs more points, just rent what you need.

 

[dougp26364]

If they weren’t going to ever use that week again and if there was no cost to relinquish the week, I’d probably do it assuming the MF’s in the week are higher than DC points.

 

[maryk]

I assume this is not free?

Also, assuming your EOY week is used purely as a points generator, what is the MF you pay over 2 years for those EOY points? How does that compare to the MF/DC Points?


Sent from my iPhone using Tapatalk

The EOY is used to switch to points but then I book it using those points + my destination points for a week reservation.

If I calculate the price I am paying in MF for the EOY week it is .77 per point compared to the .61 for Destination points, plus if I do this I am getting points every year not EOY.

 

[maryk]

The MF/point on that week is fairly high I believe…. Low 70 cent range as I recall. But that small delta vs pure points would not offset any cost to make such a swap. If OP needs more points, just rent what you need.

What is OP stand for?

And would it be worth while to rent points, if we end up using all the points (converted week + DP) each year ?

 

[GregT]

I think the primary question is how much is Marriott charging you to exchange your EOY week and receive an annual week? I suspect that if it is very much, that the view from TUG would be that it is not worth it. Please advise and thanks!

Best,

Greg

 

[dougp26364]

OP - Original Postet

 

[rthib]

See what they want to charge you for the "exchange" then see how many points that would purchase resale.
The key missing information is how much, if it is free sure, if it is $10,000 probably not but without know cost hard to give advice.

 

[maryk]

See what they want to charge you for the "exchange" then see how many points that would purchase resale.
The key missing information is how much, if it is free sure, if it is $10,000 probably not but without know cost hard to give advice.

I am embarrassed to say . Twice the amount you mentioned.
So we would get - Every year points (same amount of points the week trades for), lose our enrolled week at Harbour Lights, plus 3000 points good until 18 months and another 1500 Bonus points.

The big sell was that the maintenance fees would be less on points than on our week, and we would have points to use every year not every other year.

Then there was something else about us being able to trade into homes & villa's but those seem extrodinarly high and I would never have that many points. That one confused me. as in my Bonvoy account I can see them.

 

[samara64]

I would say forget it. You can use $20K in better ways. You can easy buy 4,000 points on the resale market for less than $20K including all junk fees.

 

[Fasttr]

Save your cash and just rent the add’l points you desire on the off years. Can do so easily at www.vacationpointexchange.com for very little premium over what the MF on the points would cost you if you owned them.

 

[Fasttr]

Let’s say you are paying a 15 cent per point premium on your converted enrolled week points vs pure point MF’s. So for 2000 points that equates to a $300 premium. Let’s also say you need 2000 more points on the odd years so you rent them for again a 15 cent premium over MF… or another $300 premium over MF If you purchased them. It would take 33 years to break even on the $20K upfront costs they want you to pay for this deal. Run…and run fast.

 

[Dean]

We currently have 1 enrolled week in Gold 2bd/2Ba at Harbour Lake that is EOY which I always turn into Destination Points . We also have Destination points we get every year.

We have the opportunity to turn in our week and get every year points. But we would stay in the same benefit category.

What would be the plus and minus of giving up my week and just do points, other than the obvious of having the EOY points now every year?

Thanks in advance for any and all advice.

maryk

We've seen this mentioned a lot lately. They give you a decent credit for what you own but then you're buying more points, usually at least 1000, sounds like closer to 2500 in this situation. Effectively you're buying the extra points AND at a premium and giving up what you have. The good news is what you have (gold HL) really doesn't have any inherent value. Since you have other points anyway, you'd probably be better off giving up the week than taking points. If you needed more points, you could buy them resale for much less and have lower fees as you mention. You may want to condor using the HL gold week, locking it off and exchanging through II. You probably won't get a top resort in HHI during the mid summer but you can do much better trading it than taking points. I have a Platinum week there and at 2550 points, I think it's borderline whether to take points. Regardless don't do this deal.

 

[DanCali]

I am embarrassed to say . Twice the amount you mentioned.
So we would get - Every year points (same amount of points the week trades for), lose our enrolled week at Harbour Lights, plus 3000 points good until 18 months and another 1500 Bonus points.

The big sell was that the maintenance fees would be less on points than on our week, and we would have points to use every year not every other year.

I personally love using the points system but hate the cost of points. Economically, if the rental cost is equal to the maintenance fees then the resale value should be about zero. That's where a lot of timeshare weeks are on the resale market and the DC points are likely headed in that direction as well. I am lucky to have a few enrolled weeks and rent more points as I need them, but I can't see myself buying points outright - not even on the resale market. So just keep in the back of your mind that those 3000 points are probably worth $6000 on the resale market and may be worthless a few years down the road.

Given the information you provided, the way I see it is that your enrolled week is your key to the points world. It's not necessarily a good deal to convert to points, but allows you to rent points from others via vacationpointexchange.com. Resale buyers who do not have enrolled weeks cannot do that so you are fortunate to have owned it pre-2010 (I assume that's how you got it enrolled?). Therefore, I would not get rid of that week that quickly. It has more value to you than for the resale buyer. Also, don't forget that owning the annual points will also cost you almost double in maintenance fees versus what you pay now.

Renting points from others comes at a cost slightly higher than maintenance fees. The premium is more like 2c-5c per point, not 15c as mentioned earlier in the thread. So you can rent 400,000 - 1,000,000 points before you'd justify paying $20,000 for the deal you are offered - at least from the point of view of using points. In other words, it could take several decades for your "investment" to pay off.

There is an advantage to owning points (or enrolled weeks) versus renting points - namely, the flexibility of banking/borrowing and thus it is less likely points will go to waste. Also, whenever you rent there is some risk of fraud. But is that extra flexibility worth it? That's for you to decide.

A deal like the one you were offered will likely always be there. I would suggest that if you really want to use 3000 points/year try renting those from others and see how well that works for you. Then you can decide if you prefer to own and save a handful of cents per points with slightly greater flexibility in the point usage.

 

[maryk]

OK now for my next question. How do I get out of this deal?

 

[Fasttr]

OK now for my next question. How do I get out of this deal?

Send a recision letter as outlined in the documents provided to you.

 

[maryk]

so when I rent points do I see them in my account or does the other person have to book for me?

 

[TheTimeTraveler]

so when I rent points do I see them in my account or does the other person have to book for me?

Actually, either option may be available. Depends who you are renting from. Some owners will make reservations for you and some owners won't.

Personally? I like to have the points transferred into my account and make my own reservation. Less chance of a "screw up".

You'll need to pay in advance before anyone will do a transfer (or make a reservation for you). With that said, tread carefully and use someone who has been a member for a long time.


.

 

[DanCali]

so when I rent points do I see them in my account or does the other person have to book for me?

It depends. Points that have already moved (rented,banked) cannot be transferred to you. Those owners can make a reservation for you. Sometimes you can get a 30%+ discount on short term bookings if the person making the reservation is Presidential/Chairman

If the points have not yet moved, they can be transferred to your account.


Sent from my iPhone using Tapatalk

 

[Dean]

so when I rent points do I see them in my account or does the other person have to book for me?

There are advantages and disadvantages of both and of owning all you need vs renting. Personally I don't see renting as a good long term plan when there are ongoing predictable needs and if any type of volume is involved. I believe it works best when you have needs off on on like every few years, for specific things you might not be able to get on points anyway and when you anticipate needing less points in just a few years. Remember that points transferred in are not bankable so they are less flexible, and ? less valuable than points you own. That's especially true if adding the number of points in question gets you to a higher level. But either way renting does allow you to supplement what you do own, gives you flexibility in some areas (less in others) and reduces your long term commitment. It also gives you access to non points inventory by renting weeks reservations.

 

[maryk]

I see the value in renting points every once in a while when you run short.
But long term it would totally frustrate me not having control over either my bookings or the peace of mind of knowing I wasn't getting scammed. Plus the availability aspect.

Also for long term we are on a 3 to 4 yr plan to retirement and then we hope to be able to utilize our TS much more as right now this "work thing" gets in the way to be able to travel as much as we would like. We also travel a lot with our daughter and BF, so we always need a 2 bdrm which takes more points.

I am so confused as to what to do........ from here.

 

[maryk]

Currently we are Select Owners and from the comparison I see the only benefit of moving to Executive is the Booking window if booking less then 7nights at 13 months out.

Is this correct or am I missing some other great benefit?

Also on Select Owner when can I book less then 7nights?

thx - Maryk

 

[jme]

I see the value in renting points every once in a while when you run short.
But long term it would totally frustrate me not having control over either my bookings or the peace of mind of knowing I wasn't getting scammed. Plus the availability aspect.

Also for long term we are on a 3 to 4 yr plan to retirement and then we hope to be able to utilize our TS much more as right now this "work thing" gets in the way to be able to travel as much as we would like. We also travel a lot with our daughter and BF, so we always need a 2 bdrm which takes more points.

I am so confused as to what to do........ from here.

When you already own points, and already have that account, and you rent points, they deposit the points directly into your account.
At that moment you still have complete control over your bookings, just as if they were purchased points. So I don't understand for a second
what you could mean. Your control is 100% intact, and the fact that the rented points were transferred into your account already
(no one can get them back out) gives you the peace of mind. I've done this many times and there's no loss of peace of mind.
The other major contention I have is that you are considering spending thousands of dollars to gain nothing extra.

You want to use your existing week to generate points each year? Go ahead. You have them and are using them,
so WHY get rid of the week and buy more of what you already had, at a great additional cost? doesn't make fiscal sense.

In your situation, I don't understand the willingness to waste money.

If you need more points for more future travel, rent more points. The renters listed now on the site are 100% legit and trustworthy.
You should try this approach first for 2-3 years and see what I'm talking about, then you won't have to shell out thousands for the
points purchase and ALSO for the maintenance fees. Huge savings = even MORE travel.