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How did I do and what should I do

thewildings

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First timer

I am buying 5000 points (Gold, 2 bedroom) Sea World for $5000+closing costs+this years maintnanace.

If I don't want to use the 5000 for this year, what is the best thing to do when I close a month from now?
 

Talent312

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I am buying 5000 points (Gold, 2 bedroom) Sea World for $5000+closing costs+this years maintnanace.
If I don't want to use the 5000 for this year, what is the best thing to do when I close a month from now?
First: Congrats. If these are current-year (2008) points, that's cool (mine are gone).
Second: Please let us know if HGVC waives or has waived its ROFR. Its nice to know.

Third: Your options with respect to current-year (2008) points are limited:
1. Deposit to RCI for next 2 years -- deposit 2008 points for future exchanges.
2. Rescue for use next year -- you can save 2008 points for use in 2009.

.... Your next-year (2009) point-stretching options:
1. Deposit to the following year -- you can deposit 2009 points for use in 2010.
2. Coverting to HHonors points -- convert 2009 points to HHonors (rate = 1:25).

For 2008 points, I suggest that you "rescue" your 2008 points for use in 2009, and consider whether to use your 2009 points in 2009 or "deposit" them for use in 2010 (which you must do by 12/31). While a deposit to RCI gives you more flexibility, RCI reservations are less certain.
 
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thewildings

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Thanks

Thanks,

1. ROFR waived - I will close in a few weeks
2. What does recue for next year mean and cost?
3. What does moving them to RCI cost?

Why do I show up as a guest? I joined TUG and paid a fee. I am sure I just messed something up.
 
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Talent312

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1. ROFR waived - I will close in a few weeks
2. What does rescue for next year mean and cost?
3. What does moving them to RCI cost?

Why do I show up as a guest? I joined TUG and paid a fee.
I am sure I just messed something up.
Can't help you with the last question. Maybe you should post it in the newbie forum.
I'm sure that some TUG-geek can help you out.

Quoting the 2008 Club Member Guide (which doesn't make it easier):
"You may opt to rescue any or all of your 2008 ClubPoints. Rescued ClubPoints are valid for reservations at Club affiliated resorts during the Club reservation window from the date of rescue through December 31, 2009."

FEES:
Rescuing -- $69
Depositing -- $69
HH Conversion -- $69
... Accountant humor, I'm sure...
 

thewildings

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Great information

Thanks again for all the help.

One more question.

If recueing and depositing cost the same amount of money, why would you deposit and remove the ability to use points in a year?
 

yumdrey

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Guest

Until you put "member code", you are appeared as "guest". Go to User CP (up in menu board) and put member code. Maybe you didn't do that when you registered to BBS. When member code is changed, you need to update it.
 

jlee2070

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Thanks again for all the help.

One more question.

If recueing and depositing cost the same amount of money, why would you deposit and remove the ability to use points in a year?
Depositing was a concept that HGVC has had for some time now. The decision to deposit must be made the year prior to the grant year of the points. In other words, to deposit 2009 points into 2010, this action must be taken in 2008.

Rescuing is a new option offered just a couple years ago. This option allows you to take points from your current year and "rescue" the unused points into the following year. For example, 2008's left over points can be put into 2009. Before this option was introduced, if you didn't use your current years points, you would lose it....

Both methods require you to use the points that were moved foward to be used in the year it was moved into. These points can't be once again, moved forward. In addition, you are able to borrow points from the up coming year without cost...

Yes, both methods are a bit redundant. I think if you know for sure you have no use for next years points, you might want to deposit it to not have to worry about it. Then if you have need for it next year, you can always borrow it... So in 2008, you decide you don't need 2009's points. You deposit it into 2010. Then in 2009, you decide you do what to use some points, you can borrow it back with no cost...

There are those that deposit a bunch of points and then always borrow from the following year to allow one to use more points each year then they own. So let's say you have 5000 point contract in 2009. You deposit it into 2010. Then in 2009, you can use 7000 points and then deposit the remaining 3000 points (which are not technically, 2009 points) into the 2011 and then do it again in 2010 leaving you 1000 points which again can be moved forward and ... Yes, you eventually will run low on points which means you take a one year break and then do it again...
 

thewildings

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Depositing was a concept that HGVC has had for some time now. The decision to deposit must be made the year prior to the grant year of the points. In other words, to deposit 2009 points into 2010, this action must be taken in 2008.

Rescuing is a new option offered just a couple years ago. This option allows you to take points from your current year and "rescue" the unused points into the following year. For example, 2008's left over points can be put into 2009. Before this option was introduced, if you didn't use your current years points, you would lose it....

Both methods require you to use the points that were moved foward to be used in the year it was moved into. These points can't be once again, moved forward. In addition, you are able to borrow points from the up coming year without cost...

Yes, both methods are a bit redundant. I think if you know for sure you have no use for next years points, you might want to deposit it to not have to worry about it. Then if you have need for it next year, you can always borrow it... So in 2008, you decide you don't need 2009's points. You deposit it into 2010. Then in 2009, you decide you do what to use some points, you can borrow it back with no cost...

There are those that deposit a bunch of points and then always borrow from the following year to allow one to use more points each year then they own. So let's say you have 5000 point contract in 2009. You deposit it into 2010. Then in 2009, you can use 7000 points and then deposit the remaining 3000 points (which are not technically, 2009 points) into the 2011 and then do it again in 2010 leaving you 1000 points which again can be moved forward and ... Yes, you eventually will run low on points which means you take a one year break and then do it again...

This helped quite a bit. Thanks for the explanation. Still thinking I rarely deposit ahead (waste of $69) when I can just wait until the end of the year and rescue. Interesting though and I am sure in thinking about it there will be times to use each.
 

Bill4728

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This helped quite a bit. Thanks for the explanation. Still thinking I rarely deposit ahead (waste of $69) when I can just wait until the end of the year and rescue. Interesting though and I am sure in thinking about it there will be times to use each.
Most HGVC will say that the best way to use your points is to pay the $69 and bank all your 2009 to 2010 in 2008. Then you have maximum flexablity.
You can use them in 2009 (free) or 2010, place them in RCI in both 2009 & 2010.
 

Talent312

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Most HGVC will say that the best way to use your points is to pay the $69 and bank all your 2009 to 2010 in 2008. Then you have maximum flexablity.
You can use them in 2009 (free) or 2010, place them in RCI in both 2009 & 2010.
There may be another reason to deposit early and not wait to rescue.
Someone might check me on this, but as I understand it, deposited points can be used for any purpose allowed for points, generally; whereas, rescued points can only be used for Club-resort reservations during the club-reservation window. This restriction might be significant to some.
 

thewildings

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There may be another reason to deposit early and not wait to rescue.
Someone might check me on this, but as I understand it, deposited points can be used for any purpose allowed for points, generally; whereas, rescued points can only be used for Club-resort reservations during the club-reservation window. This restriction might be significant to some.
Most HGVC will say that the best way to use your points is to pay the $69 and bank all your 2009 to 2010 in 2008. Then you have maximum flexablity.
You can use them in 2009 (free) or 2010, place them in RCI in both 2009 & 2010.
Bill,

Thanks for your time, I love this newsgroup and need all the help I am getting. I hope to be of assistance to others in the future.

I am not sure I understand what you are saying, as I can use my 2009 points in 2009 or Rescue to 2010 for the same $69 as depositing. If I use the points in 2009 there is no reason to pay Hilton in advance, and if I don't use them I can rescue them for the same amount of money. I am not sure I see how depositing them is more flexible. Please do not take me wrong. I know I am new to this and want to listen to the wisdom of others. I am just trying to understand the arguement. How is the RCI component different?


Talent,

This is the type of differences that I would love to understand. As soon as I close I am sure I will get documents detailing this and be able to know the facts better. Thanks.
 

UWSurfer

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Most HGVC will say that the best way to use your points is to pay the $69 and bank all your 2009 to 2010 in 2008. Then you have maximum flexablity.
You can use them in 2009 (free) or 2010, place them in RCI in both 2009 & 2010.
While I've not really studied this, I and many others here borrowed from the following year, in essesnce being in a deficit each year. There is no cost to borrow points and it lets one reserve a larger unit than you presently have points for. Thus you don't have to worry about depositing or rescuing as "this years" points are always used up.
 

Talent312

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This is the type of differences that I would love to understand. As soon as I close I am sure I will get documents detailing this and be able to know the facts better.
When you get your Member Guide, read it thru about five times. The first few times will confuse you even more, but eventually, you'll figure out where to look for answers... which is half-the-battle in using your membership.

The thing about rescued points is their use is more restricted than deposited points.
HGVC probably has gnomes in its basement keeping track of which points are which, but in a practical sense, if all you plan to do is make club reservations, then it makes no difference to you.
 
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Pronkster

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If you have already made reservations for 2009 using 2009 points and then you rescue 2008 points into 2009 at the end of the year, can you have the club change the reservation to use the 2008 rescued points rather than the 2009 points you used to make the 2009 reservation during 2008?
 

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If you have already made reservations for 2009 using 2009 points and then you rescue 2008 points into 2009 at the end of the year, can you have the club change the reservation to use the 2008 rescued points rather than the 2009 points you used to make the 2009 reservation during 2008?
Yes, you can have the club change the reservation using the rescued points.

Also, I have rescued points using the HGVC website, and did not have to pay for it. In fact, when I called the club to rescue the points, the rep told me that there is no fee to do so when using the website. I am not sure if that is an elite thing or not, just thought it would be worth a try. (Same for converting to HH points.)
 

thewildings

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Just noticed 5000 points at the same resort (Sea World) went for $3600 on eBay. Will Hilton exercise on this one or let it go for that cheap?

Thanks,
 

Talent312

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Just noticed 5000 points at the same resort (Sea World) went for $3600 on eBay. Will Hilton exercise on this one or let it go for that cheap?
Whether they will step-in on this one may depend on how many like units or how many total units they already have in inventory there. However, I would be surprised if Hilton let it go for that price. I think that it would be news if any HGVC unit sold for less than $1.00 per point.
 

Blues

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I don't know. I wish Seth would jump in here, but it was my impression that Hilton was mostly exercising on platinum points. Still, that price may be so good that they feel the need to jump in on gold points.
 

CJinPHX

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Rescued points are a lot more restricted. You can ONLY use them at club resorts. You can't use them for hotel stays, or for RCI reservations.

Much better to deposit and borrow.
 

pianodinosaur

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First, you did very well on your purchase and I am very surprised that Hilton did not exercise ROFR. Congratulations!!!!!

You will not be able to deposit 2008 points into 2009. 2008 points can be rescued or deposited into RCI. You can do a same year conversion into HHonors if you are at Hilton Elite Plus status or higher. If you are not at that level, you cannot convert 2008 HGVC points into HHonors.

My personal advice would be to deposit the 5000 HGVC points from 2008 into RCI. This would give you two years to play around with them.

Congratulations again.
 

thewildings

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First, you did very well on your purchase and I am very surprised that Hilton did not exercise ROFR. Congratulations!!!!!

You will not be able to deposit 2008 points into 2009. 2008 points can be rescued or deposited into RCI. You can do a same year conversion into HHonors if you are at Hilton Elite Plus status or higher. If you are not at that level, you cannot convert 2008 HGVC points into HHonors.

My personal advice would be to deposit the 5000 HGVC points from 2008 into RCI. This would give you two years to play around with them.

Congratulations again.
Thanks for the information.
 

capjak

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2008 Conversion into HH points, I thought there were ways to do this via making a reservation and than if you can not go canceling the ressie and get the returned points as HH points.
 

Talent312

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2008 Conversion into HH points -- I thought there were ways to do this via making a reservation and then, if you can not go, canceling the ressie and get the returned points as HH points.
This would be news to me. I'd like to know if anyone actually did manage this alchemy.
AFAIK, points cannot be returned in a different form, but as they were.
 

alwysonvac

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2008 Conversion into HH points, I thought there were ways to do this via making a reservation and than if you can not go canceling the ressie and get the returned points as HH points.
Yes this is correct. Once you use your HGVC points for a hotel reward they become HHonor points. So if you cancel your hilton hotel reservations your refund will be in HHonor points and deposited into your HHonors account.
 
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