My experience with the Wyndham Department that handles rescissions (in Vegas) is that they are easy to deal with. I sent an email and that was enough. (I followed the email with a letter but they had already started the process without it). They did not try to "save" the sale. They simply processed the paperwork and sent us our deposit back. It didnt take much more time then it took my check to clear. Their job it seems to me is to protect the company from their sales staff.
Regarding the "pitch" reported by the op:
This is essentially what I heard at a recent presentation at National Harbor. The salesman said that most of his customers were VIP and didnt pay any maintenance fees, by: 1) using the Barclays credit card for all their routine expenses, groceries, cable bill, etc etc,. to earn Wyndhan rewards points s 2) refer friends and family to Wyndham to earn more Wyndham rewards points and 3) convert points to rewards points. All these rewards points can be converted at the rate of 10000 rewards points to $60 of maintenance fees.
This technique works best (according to the salesman) if you are Platinum VIP because the 50% discount in the express reservation window gives you the use of twice as many points as you own. So you use half your points for your vacations and the other half to exchange for the rewards points.
My response...its fuzzy math.
my maintenance fees on the 600000 points I own is about $3000 a year.....If I was to buy another 1000000 points at National Harbor my additional fees would be about $3500 So now Id have 1600000 points and $6500 a year in fees maintenance.......Now Im currently using 600000 points If I was platinum VIP and used the 50% discount I only need 300000 for my own use, and Id have 1300000 points to convert to rewards points which convert to dollars. If my math is right it would be just over $3100....I dont have any friends, so I cant earn anything by refering them to Wyndham so I have to make up the rest with a Barclays card Every dollar charged gets you 2 rewards points and 10000 rewards points gets you $60 . I figure I need to charge $300000 to earn $3600 toward my maintenance.
So now Ive got it.. I can not pay maintenance fees on my 600000 points by buying 1000000 more points and charging $25000 a month on my new credit card
Several problems here 1) no bank will give me a credit card with a $25000 limit and even if they did I dont spend that much in a year let alone in a month and 2) he quoted me a price of $220 per 1000 for the new points, or $220000. I dont have $220000 and even if I did it dosent make sense to spend $220000 to save $3500 a year...for those that have stuck with me so far, thats a 1.5% return....If I had $220000 why wouldnt I just buy a good muni bond fund and pay my maintenance fees with the interest earned
What ended the presentation is when I told him I paid $500 for my 600000 points and used 252000 of them to make 2 Mardi Gras reservations and collected enough rent to pay all my maintenance fees. leaving 324000 maintenance fee free points for my own use ...I like my strategy better than his
Regarding the "pitch" reported by the op:
This is essentially what I heard at a recent presentation at National Harbor. The salesman said that most of his customers were VIP and didnt pay any maintenance fees, by: 1) using the Barclays credit card for all their routine expenses, groceries, cable bill, etc etc,. to earn Wyndhan rewards points s 2) refer friends and family to Wyndham to earn more Wyndham rewards points and 3) convert points to rewards points. All these rewards points can be converted at the rate of 10000 rewards points to $60 of maintenance fees.
This technique works best (according to the salesman) if you are Platinum VIP because the 50% discount in the express reservation window gives you the use of twice as many points as you own. So you use half your points for your vacations and the other half to exchange for the rewards points.
My response...its fuzzy math.
my maintenance fees on the 600000 points I own is about $3000 a year.....If I was to buy another 1000000 points at National Harbor my additional fees would be about $3500 So now Id have 1600000 points and $6500 a year in fees maintenance.......Now Im currently using 600000 points If I was platinum VIP and used the 50% discount I only need 300000 for my own use, and Id have 1300000 points to convert to rewards points which convert to dollars. If my math is right it would be just over $3100....I dont have any friends, so I cant earn anything by refering them to Wyndham so I have to make up the rest with a Barclays card Every dollar charged gets you 2 rewards points and 10000 rewards points gets you $60 . I figure I need to charge $300000 to earn $3600 toward my maintenance.
So now Ive got it.. I can not pay maintenance fees on my 600000 points by buying 1000000 more points and charging $25000 a month on my new credit card
Several problems here 1) no bank will give me a credit card with a $25000 limit and even if they did I dont spend that much in a year let alone in a month and 2) he quoted me a price of $220 per 1000 for the new points, or $220000. I dont have $220000 and even if I did it dosent make sense to spend $220000 to save $3500 a year...for those that have stuck with me so far, thats a 1.5% return....If I had $220000 why wouldnt I just buy a good muni bond fund and pay my maintenance fees with the interest earned
What ended the presentation is when I told him I paid $500 for my 600000 points and used 252000 of them to make 2 Mardi Gras reservations and collected enough rent to pay all my maintenance fees. leaving 324000 maintenance fee free points for my own use ...I like my strategy better than his