Wyndham Points: EY vs EOY

[Myxdvz]

Hi everyone,

I am in the market for Wyndham points. Lost 3 auctions to date. Am only bidding on small MF resorts, Club Access points, or Glacier Canyon.

With my needs (in another thread), people have recommended that I buy high # of points. I was only thinking maybe 164,000 annual points (enough for a 4 day weekend High season at Glacier Canyon).

I have also been advised to avoid EOY contracts. Could you tell me the pros and cons? Why is a 154K EY <> 77K EOY. I know that the points are only dropped EOY (odd or even). If I put all those in the credit pool, it will just be the same as if I have 77K and put them in the credit pool as well. I also know that I will paying an extra fee for the Program Fee, since I have to pay that every year.

Any other reason why I shouldn't?

Also, maybe 154K and 77K is a bad example, since the program fees on 77K seems to be the same as 154K so seems more per point ($1.51/pt vs $.76/pt). How about 308K EY vs 154K EOY.

The program fee per point, definitely seems to go down as the # of points go up, so I can see the logic in buying enough points so the program fee goes down to about $.54/pt give or take a few cents.

 

[paxsarah]

Now that they've corrected the double-charged program fee on EOY contracts that was in place a couple of years ago, I don't see any difference between EOY and annual contracts where the average points per year are equivalent. Maybe I'm missing something. And if you're expecting to use the credit pool in most years, you'd actually save a bit because you'd only have to pool points once every two years.

I actually just won an auction for a second EOY contract - for us it makes sense because it gets us ARP at the beach every other year (we don't feel the need to go there every year) or we can pool points as needed.

 

[Myxdvz]

Now that they've corrected the double-charged program fee on EOY contracts that was in place a couple of years ago, I don't see any difference between EOY and annual contracts where the average points per year are equivalent. Maybe I'm missing something. And if you're expecting to use the credit pool in most years, you'd actually save a bit because you'd only have to pool points once every two years.

Yes, that's my understanding. Have you confirmed with your MF fees for the EOY properties that you own that the double-charged program fee is fixed? Does that mean that the Total MF is the same, and the monthly fee is just divided by 24 monthly instead of 12 monthly payments?

I think I am OK with a 308K EOY contract. An annual 308K have too high MFs for me if I only use them for long weekends. It would be nice to stagger the MKs in 24 months.

Does Wyndham charge interest on the monthly payments? Any reason to prepay the year?

 

[ronparise]

Yes, that's my understanding. Have you confirmed with your MF fees for the EOY properties that you own that the double-charged program fee is fixed? Does that mean that the Total MF is the same, and the monthly fee is just divided by 24 monthly instead of 12 monthly payments?

I think I am OK with a 308K EOY contract. An annual 308K have too high MFs for me if I only use them for long weekends. It would be nice to stagger the MKs in 24 months.

Does Wyndham charge interest on the monthly payments? Any reason to prepay the year?

I dont own any eoy contracts so I cant point to my own account and tell you whats true and whats not. But I think you are right the monthly mf is the annual mf divided by 24, but you will pay the minimum program fee every year ($98 is what it was, its more this year).

Wyndham doesnt call it interest, but they do screw you if you get a bill each month. They charge an $8 billing fee, and if you pay online another $4 convenience fee. You can avoid these fees by paying annually, or by auto pay from your credit card or your bank account

 

[CruiseGuy]

I dont own any eoy contracts so I cant point to my own account and tell you wahats true and whats not. But I think you are right the monthly mf is the annual mf divided by 24, but you will pay the minimum program fee every year ($98 is what it was, its more this year).

Wyndham doesnt call it interest, but they do screw you if you get a bill each month. They charge an $8 billing fee, and if you pay online another $4 convenience fee. You can avoid these fees by paying annually, or by auto pay from your credit card or your bank account

So say that you're already paying more than the minimum program fee due to your annual points. Since I'm reading that Wyndham corrected the issue with the program fee, you would only be paying an additional program fee for the biennial points divided by 2. Or the annual equivalent which would be half the biennial points. correct?

 

[ronparise]

So say that you're already paying more than the minimum program fee due to your annual points. Since I'm reading that Wyndham corrected the issue with the program fee, you would only be paying an additional program fee for the biennial points divided by 2. Or the annual equivalent which would be half the biennial points. correct?

if you are already paying over the minimum than a new eoy will be billed as you suggest, ie a 154000 eoy contract will be billed at 77 x $0.54 (I think that the new number)

 

[Myxdvz]

if you are already paying over the minimum than a new eoy will be billed as you suggest, ie a 154000 eoy contract will be billed at 77 x $0.54 (I think that the new number)

Ok. So, no reason NOT to buy an EOY if I find a nice contract then?

 

[massvacationer]

I own some EOY contracts and the program fee is the same per annualized point as an annual contract. So, the program fee on an EOY 154K contract is the same as the program fee on an annual 77K contract.

 

[staceyeileen]

I have an 168k EOY contract. Here's how it's billed.

Contract Type: Undivided Interest - Even Year (UDI)
Points: 168,000

Total HOA Fee
Total HOA Fee for 1,000 Points: $4.19
Maintenance Fees: (84,000 / 1000) * $3.30 = $277.20
Reserve Fund: (84,000 / 1000) * $0.78 = $65.52
Property Tax: (84,000 / 1000) * $0.11 = $9.24
Total HOA Fee: (84,000 / 1000) * $4.19 = $351.96

Program Fee

Program Fee: $108.00

CLUB WYNDHAM Plus Assessment
* Annual Fee: $351.96 + $108.00 = $459.96
Monthly Fee: $459.96 / 12 = $38.33