To buy into points or not??

["Roger"]

I am totally new to points, and know nothing! It seems to me to be buying "air"? ..

I'll presume thoughout that you are talking about RCI Points. As mentioned by others, you keep your deed.

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Who sets the points trade values for all the exchange companies, and what prevents those points values that you have bought from being altered at THEIR will, without any control on your part as purchaser?

RCI does. Just like they set the trading value of your unit within their Weeks system. However, you can see what your trading value is. So, if it goes up (or down), you are told that this happens. In Weeks, you are not told.

I think you are wondering about what stops RCI from lowering the point value of all the resorts. If they do, it is a wash. You have less points, but everything costs less (because the point values of the other resorts has been lowered). What happens if they lower the point value of just your resort and your resort alone? That tells you that your resort is falling out of favor. (is it falling in disrepair?) Same thing happens in Weeks, but as mentioned, you are never told.

...I know what I have! I heard from one deeded week owner that, once converted, no longer had access to her week to use!...

I would have to guess she missed the period of time (about twelve months out, depending on what kind of week she owns) where she was to reclaim her week. In some cases, that isn't even necessary. In my own case, I have to call to have my unit put into the program every year. If I don't... as I mentioned, I have a deed. I can do whatever I want with my own week.

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Have any points owners used their points to go to other than their own resort with success?

Read my first message in this thread. It took me less than three years to recover the conversion fee that I paid because of the EXTRA value that I got from my week in the Points program. (That would not be the case if your unit is not given a high point value. In my case, the trades that I got in the Weeks program were all trades down. Now, when I trade down, I am left with extra points to spend elsewhere.

Yeah, I like the program a heck of a lot better than the Weeks program. You are wise to ask these sorts of questions. (Seriously) Still, the answers, at least for me, have been all good.