WOW! Interval International's exchange cancellation fee!

[thickey]

I was planning on cancelling an exchange for a 2BR Escondido Lawrence Welk Resort the week after Christmas, to try to get something a little closer to home instead. I called II today and the rep told me that they will keep my ENTIRE exchange fee, and of course another exchange would cost again! and I have 1 year to use my original week.
This doesn't seem quite right, as II would be re-gaining a good LW week and most likely will re-exchang it with another person. I expected a cancellation fee, but not the whole $154 exchange fee, Sheesh!
I told them to never mind for now. I'll consider another strategy, I guess...

 

[DeniseM]

This has always been the rule - you can buy insurance when you make the exchange.

II makes their money from fees - they already processed your exchange - then you cancelled and they have to do another transaction - it all costs them money.

You play - you pay!

 

[lizap]

Hence, one of the arguments for internal trading.

I was planning on cancelling an exchange for a 2BR Escondido Lawrence Welk Resort the week after Christmas, to try to get something a little closer to home instead. I called II today and the rep told me that they will keep my ENTIRE exchange fee, and of course another exchange would cost again! and I have 1 year to use my original week.
This doesn't seem quite right, as II would be re-gaining a good LW week and most likely will re-exchang it with another person. I expected a cancellation fee, but not the whole $154 exchange fee, Sheesh!
I told them to never mind for now. I'll consider another strategy, I guess...

 

[DeniseM]

Hence, one of the arguments for internal trading.

Internal trading?

 

[lizap]

Regarding TSs such as HGVC, Hyatt, or Starwood that have internal trading (exchange) systems using points.



QUOTE=DeniseM;1484268]Internal trading?[/QUOTE]

 

[rickandcindy23]

Internal trading?

Just guessing on meaning of that post, but probably a points system, where you use points within Wyndham, DC, Staroptions, WorldMark, Shell, etc.

Lawrence Welk also has point system, such as it is.

 

[tschwa2]

Trading through RCI you lose the exchange fee which is now $199 per week. Even if you buy insurance through RCI these days it only protects the full value of what you exchanged for and not the $199 exchange fee.

 

[DeniseM]

Regarding TSs such as HGVC, Hyatt, or Starwood that have internal trading (exchange) systems using points.

Yes - but that means you can only go to the timeshare system that you own. Also - if you cancel internal trades, there are usually penalties as well.

 

[dougp26364]

Yes - but that means you can only go to the timeshare system that you own. Also - if you cancel internal trades, there are usually penalties as well.

One of the advantges of owning within a system is more favorable exchange priviledges within that system plus the availablity of exchanging through either RCI or I.I., depending upon the affiliation (not to forget the independant companies as well).

DRI, Marriott, Wyndham, Bluegreen and several others have extensive lists of resorts and locations to choose from. Some like HGVC are more concentrated but offer many options in popular travel destinations such as Orlando, Hawaii and Las Vegas Some systems like Spinnakers premier resorts have only 3 or 4options in 3 or 4 locations.

Shopping for a system to own in is equivelent to shopping for a home resort that one can be happy with if no other exchange options are available. Right now we're pretty pleased with the three systems we own in, DRI, Marriott and HGVC. Between those three we can access just about any destination without the need to go through I.I. or RCI.

Yes they sometimes have cancellation penaties or extra fee's but they're usually more favorable than any of the exchange company options out there. I much prefer to remain within the systems we own and forsake going through the exchange companies when we can.

 

[DeniseM]

Doug - I agree - internal trading can be great for many reasons - but it's misleading to think you can avoid cancellation penalties with internal trades. The penalties for cancelling an internal exchange can be every bit as harsh - especially a late cancellation.

 

[Saintsfanfl]

It's like non-refundable airfare. Almost everyone books non-refundable. If you have to make a change, then you pay a fee. Booking refundable airfare is like booking hotel style except you get a refund instead of simply not being charged. When you want something on the cheap, then usually you have to give something on flexibility.

 

[lizap]

Well said. I agree completely!

QUOTE=dougp26364;1484404]One of the advantges of owning within a system is more favorable exchange priviledges within that system plus the availablity of exchanging through either RCI or I.I., depending upon the affiliation (not to forget the independant companies as well).

DRI, Marriott, Wyndham, Bluegreen and several others have extensive lists of resorts and locations to choose from. Some like HGVC are more concentrated but offer many options in popular travel destinations such as Orlando, Hawaii and Las Vegas Some systems like Spinnakers premier resorts have only 3 or 4options in 3 or 4 locations.

Shopping for a system to own in is equivelent to shopping for a home resort that one can be happy with if no other exchange options are available. Right now we're pretty pleased with the three systems we own in, DRI, Marriott and HGVC. Between those three we can access just about any destination without the need to go through I.I. or RCI.

Yes they sometimes have cancellation penaties or extra fee's but they're usually more favorable than any of the exchange company options out there. I much prefer to remain within the systems we own and forsake going through the exchange companies when we can.[/QUOTE]

 

[dougp26364]

Doug - I agree - internal trading can be great for many reasons - but it's misleading to think you can avoid cancellation penalties with internal trades. The penalties for cancelling an internal exchange can be every bit as harsh - especially a late cancellation.

I can't speak for all companies or systems but, Marriott, DRI and HGVC don't come near the penality of losing your exhange fee AND having to pay another exchange fee, which is what I.I. does to you.

With DRI you pay a yearly fee. There are no reservations fee's and no cancelation fee's until, I believe, you're within 90 days of your travel date. At that point there are some fee's that amount to loss of points used to make the reservation. Only short notice cancellations get hit with any sort of fee.

HGVC has a small fee for cancelling a reservation but I believe it's less than $100 if I recall.

Marriott has no fee unless it's a late cancellation. I've made changes to two reservations, which required I cancel one and reserve another, with no additional charges.

With DRI and Marriott there aren't any fee's to cancel or change a reservation unless it's short notice. HGVC has ala carte fee's but they're minimal. They are all far more reasonable than I.I.'s system.

 

[Lisa P]

I can't speak for all companies or systems but, Marriott, DRI and HGVC don't come near the penality of losing your exhange fee AND having to pay another exchange fee, which is what I.I. does to you. ... With DRI and Marriott there aren't any fee's to cancel or change a reservation unless it's short notice.

Wyndham has no cancellation fee but cancellation points have some limitations applied - can still use them within the current use year for reservations and can still deposit them with RCI, so I don't mind the limitations. It's the short notice cancellations that kill - full loss of points on cancellation within 15 days of check-in... although I've read of people with verifiable medical issues being granted a full refund of points.

Purchasing cancellation trip insurance from RCI ($49) ensures that the points will be returned to my account if I cancel, even close to my travel date. But the exchange fee is lost. $189-$199 non-refundable exchange fees potentially lost make me think more carefully about confirming an exchange unless I'm very confident that we (or our guests!!!) will use it. We used to be more willing to book for friends/family when the RCI insurance covered the trade fee, even though it was a bit higher ($79?).

 

[Cruiser Too]

I was planning on cancelling an exchange for a 2BR Escondido Lawrence Welk Resort the week after Christmas, to try to get something a little closer to home instead. I called II today and the rep told me that they will keep my ENTIRE exchange fee, and of course another exchange would cost again! and I have 1 year to use my original week.
This doesn't seem quite right, as II would be re-gaining a good LW week and most likely will re-exchang it with another person. I expected a cancellation fee, but not the whole $154 exchange fee, Sheesh! I told them to never mind for now. I'll consider another strategy, I guess...

Something to think about:

You could offer that week for a fee (on the sly).
Purchase a guest-certificate for your "close friend").
Shhhh... "Mum's the word"

We stayed at the resort at Escondito and it was a very enjoyable, well-managed resort.