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Purchasing a week that's been converted to RCI points

rwpeterson

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There's a week on eBay at a resort that we would use. The current owner converted the week to RCI points. I've read many posts on TUG and I know some folks like points but I think a regular week works best for us. We vacation at this location every year so we would want to stay at this resort for a week every year.

I've done some research and want to make sure I understand what I've found in prior posts:

1. At purchase, I can "convert" this back to a regular week but I'd lose any points the current owner has not used
2. or I can have the current owner transfer any unused points to me, keep it in the RCI points program until the end of the 3 year period, and then not renew the points contract.
3. If we leave it in the points program, is there any preference given to resort owners to get back into their own resort?

Thanks for your help.
 

UWSurfer

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I was in the same position with a purchase of a week @ Summer Bay LV and seriously considered converting it out of points. I didn't and it came with a very health amount of points from the previous owner which I've already was able to use to book an HGVC LV Hilton week for the annual tradeshow I attend @ the location I prefer to stay at.

I'm betting different resorts deal with points owners differently, but as I understand it, you can book your underlying week, (home week if you will) as a points owner through the resort with no additional charges or booking fees. Anything else however may generate fee's within RCI and anything additional at the resort you book (cleaning, parking, just look funny).

They charge several thousand $ to convert TO points at SB so we figured we'd give it a try and see how the program works without needing to spend the conversion $.

Ironically, we have access to the points and points account, but still havn't officially closed this purchase given the complexities of the SB location move and deed transfers. One of these months I guess.
 

vacationhopeful

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RCI Points will charge you to set up a NEW points account around $224 which includes the 1st year RCI points membership fee. It comes with a RCI Weeks account included.

I too got a "surprise" RCI Points account when I brought the underlying week. Decided to keep it and learn to use it. It costs nothing to reserve your underlying week and only $40 to reserve a week at your HOME RESORT duing the HOME RESORT reservation period. As I have a lockout unit, it is giving me TWO weeks of vacationing at my home resort for $40 plus my RCI membership fee of $100 (total $140). I borrowed points from next year to get a larger (not the studio) portion of my lockoff. But I could have done other incantations of their units too.

Will play with RCI Points for awhile.:)
 

teepeeca

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If a week (that is being sold) has already been converted to RCI points, and the buyer doesn't have an RCI account, and doesn't want one, can he/she just buy the timeshare, and completely "opt-out" of RCI, and NOT pay the RCI transfer fees during the closing process? And, then, upon closing, will just have "regular/normal" week at the resort?

Tony
 

rwpeterson

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RCI points account...

RCI Points will charge you to set up a NEW points account around $224 which includes the 1st year RCI points membership fee. It comes with a RCI Weeks account included.

I too got a "surprise" RCI Points account when I brought the underlying week. Decided to keep it and learn to use it. It costs nothing to reserve your underlying week and only $40 to reserve a week at your HOME RESORT duing the HOME RESORT reservation period. As I have a lockout unit, it is giving me TWO weeks of vacationing at my home resort for $40 plus my RCI membership fee of $100 (total $140). I borrowed points from next year to get a larger (not the studio) portion of my lockoff. But I could have done other incantations of their units too.

Will play with RCI Points for awhile.:)

As luck would have it, I already have an RCI weeks account. Will I be required to pay $224 to set up an RCI points account? Will RCI extend my current RCI weeks account by a year rather than giving me another weeks account for free? Or is there a discount on the RCI points account if you already have an RCI weeks account?

Looks like this works out well for you with the lockout unit! I can see where this could be beneficial.

I really don't need another timeshare, but I've caught the buying buy again...

Wendy
 

vacationhopeful

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Yes, you have to pay the $224. But if you pay for the weeks account, you can call RCI about closing it and getting a refund of the balance on the account time (check for other posts as this info was NOT gain from personal experience). You get a "free" weeks account with a RCI Points account.

Not all is bad with a points account - it would allow you to change at $40 exchange fee you fixed week to another at the same resort (providing you book tghe available unit during the HOME RESORT PERIOD - yes, terms that apply to RCI Points trading.

Paying the $224 is cheaper than in two years paying for a conversion fee of $4,000 to $5,000+ fee I have listened to the sales representatives have tried to sell me.
 

M. Henley

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RCI Points

When I converted a week to points back in 2000 they credited my 8 years or so of paid-up Weeks membership to the Points membership, and I have yet to pay any more. However, it should be used up soon.

:)
 

Jennie

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When I became a Points member via an Ebay purchase of a week that the prior owner had already converted to RCI Points, I had 5 years remaining on my RCI Weeks account. They sent me a refund check for the 5 years membership fees, since the credit card originally used to purchase 10 years was no longer valid. Otherwise they would have refunded it back to the credit card.

Yes, you can just revert to owning the exact Unit number and week of the "underlying week" you have won. Just do not apply for an RCI Points account. Make sure to let the closing company know that this is your wish, otherwise they might go ahead and file the application on your behalf, although technically you are supposed to sign it.

If you plan to use your week every year, you do not have to join RCI at all--not even the Weeks program. You could do so at any later date if you decide you would like to exchange your week, and/or have access to RCI's Last Call or Extra Vacations inventory.

Unless you are interested in taking last minute vacations or traveling in off season, it may not be worth joining RCI just to access this inventory. If you have a friend or relative who has either an RCI Weeks or Points account, perhaps they will be willing to let you look at the inventory by logging onto their RCI on-line account. The excess inventory is the same in Weeks and Points.

It is my understanding, but please double-check this, that if you join RCI Points and decline to pay next year's annual fee when it comes due (or any year thereafter), your RCI Points account will be terminated and you will revert back to owning the fixed/deeded week you have just won. But once you leave RCI Points, you would have to pay several thousand dollars to "re-convert" your fixed week back to RCI Points.

One disadvantage to remaining in Points is that if you lock in your week and then decide to let a friend or family member use the week, you need to purchase a $59. guest certificate from RCI. I personally feel that's outrageous. It's your week, after all, and you should be able to let anyone use it. I'm also not sure if RCI prohibits you from renting out the week, the way they do if you obtain a week as an exchange. You need to check this out if you think you might want to do that.

If you join the Points program, you can call RCI 13 months before the scheduled check-in date and tell them you will be using your unit next year instead of receiving Points. You can change your mind in the following months and decide to deposit your week instead of using it, and then receive the Points. I forget what the exact time frame is and whether or not there is a fee to do so.

I have a friend who owns weeks at the same resort as I do. I use my week every year. She requests RCI Points instead. One time she saw availability at a prime resort that I have always wanted to stay at. She put the unit on hold and called me. I decided I would rather go there than to my own resort that year. So we did a conference call to RCI. The VC released the week from friend's account and was able to pick it up for me. At that Point I deposited my week, received my Points, and used the Points to confirm the coveted week. (I could have also borrowed Points from next year to accomplish the same thing).
 

Bill4728

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One disadvantage to remaining in Points is that if you lock in your week and then decide to let a friend or family member use the week, you need to purchase a $59. guest certificate from RCI. I personally feel that's outrageous. It's your week, after all, and you should be able to let anyone use it.

I'm also not sure if RCI prohibits you from renting out the week, the way they do if you obtain a week as an exchange. You need to check this out if you think you might want to do that.
I see this as the only real point against RCI points.

And yes, RCI can make renting your own "home week" difficult.
 

Jennie

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One disadvantage to remaining in Points is that if you lock in your week and then decide to let a friend or family member use the week, you need to purchase a $59. guest certificate from RCI. I personally feel that's outrageous. It's your week, after all, and you should be able to let anyone use it. I'm also not sure if RCI prohibits you from renting out the week, the way they do if you obtain a week as an exchange. You need to check this out if you think you might want to do that.

Well now I need to "second guess" the accuracy of the guest certificate and rental info stated above, based upon info in the following thread : http://www.tugbbs.com/forums/showthread.php?t=86960

I have always used the underlying week we own so I have no first hand experience about RCI's official policy about letting friends use it, or renting it to strangers, other than what I was told by owners who may not have known the true facts.
 
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