posted 02-02-2005 17:24            

quote:

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Originally posted by pannie:
any suggestions for what I can do to avoid losing the credits?
Thanks.
Pannie

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Did you ask them if you can book another WM vacation for before May (assuming last April was the month when your credits were expiring)?

We (WM owners) are still trying to figure out credit expiration under the new IRIS system. But supposedly you can, when you call to cancel, on the same call , book another vacation for before your orginially scheduled vacation, as a last resort to save your credits.

P.S. There are a lot of credit expiration discussions on www.wmowners.com on the Owners Alert forum. You have to register and log in to access that particular forum, but anybody can register.

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www.wmowners.com

posted 02-02-2005 20:29               

If you made the reservation last April for May of this year, then your credits will expire in April. You have until April to rebook your reservation and that reservation can extend out to 13 months ahead of the date you make it.

Once you pass the date of expiration of your credits, you can deposit that week into any of the alternate exchange companies that will take it if RCI and II won't take it.

posted 02-02-2005 21:54               

quote:

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Originally posted by BocaBum99:
If you had a reservation in the WorldMark system prior to the switchover to IRIS, then the rule is that the credits expire 1 year after the date you made the reservation.

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If I may disagree ever so gently, please. I'm not sure that the "1 year from booking date" is so much a rule as it is a very clearly documented observation at this point. I think we are still waiting for further information and explanation from the appropriate sources.

Pannie - You may want to try phoning WM Owner Services again. Carefully explain your situation and ask if they might reconsider the options for you given the recent changes to WM's reservation and credit tracking system. This situation is new to all of us (owners and supporting staff) ... so be ready for some uncertainty and perhaps the need to run this past a supervisor.

posted 02-02-2005 22:00            

quote:

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Originally posted by BocaBum99:
If you had a reservation in the WorldMark system prior to the switchover to IRIS, then the rule is that the credits expire 1 year after the date you made the reservation.

If you made the reservation last April for May of this year, then your credits will expire in April. You have until April to rebook your reservation and that reservation can extend out to 13 months ahead of the date you make it.

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Boca:

If the credits don't expire until April, they can be deposited with II/RCI NOW, contrary to what WM said in this case. I'm not clear about the above 2 points - they should probably be checked on with Owner Services.

quote:

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Once you pass the date of expiration of your credits, you can deposit that week into any of the alternate exchange companies that will take it if RCI and II won't take it.

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In order for you to get a week to deposit with an alternative exchange company, you would have to book a week with your points with WM first. If you are past "the date of expiration of your credits", you can't book a week with WM.

quote:

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Another alternative is to rent those credits to someone else on the wmowners board or the worldmarktheclub forum. You can probably get between $.04-.06/credit.

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The expiration date will follow the credits to the new owners. These points will have a limited market and may have a lower price.

JMHO.

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www.wmowners.com

posted 02-03-2005 04:26               

quote:

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Originally posted by rhonda:
[QUOTE]Originally posted by BocaBum99:
[b]If you had a reservation in the WorldMark system prior to the switchover to IRIS, then the rule is that the credits expire 1 year after the date you made the reservation.

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If I may disagree ever so gently, please. I'm not sure that the "1 year from booking date" is so much a rule as it is a very clearly documented observation at this point. I think we are still waiting for further information and explanation from the appropriate sources.

Pannie - You may want to try phoning WM Owner Services again. Carefully explain your situation and ask if they might reconsider the options for you given the recent changes to WM's reservation and credit tracking system. This situation is new to all of us (owners and supporting staff) ... so be ready for some uncertainty and perhaps the need to run this past a supervisor.

[/B][/QUOTE]

Rhonda,

I am not sure what you mean. I have been on the phone with owner services and I have several reservations that I have reviewed with them in detail. I know the credit expiration date of every credit in every reservation.

posted 02-03-2005 04:40               

quote:

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Originally posted by BocaBum99:

Rhonda,

I am not sure what you mean. I have been on the phone with owner services and I have several reservations that I have reviewed with them in detail. I know the credit expiration date of every credit in every reservation. In 100% of the cases where I had an existing reservation, the rule was that the credits expire 1 yr after I made the reservation. This could be the wrong implementation of the rule, so it's possible that the system implemented it wrong. I agree with calling owner services to find out what they can do.

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posted 02-03-2005 04:43               

quote:

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Originally posted by BocaBum99:
Rhonda,

I am not sure what you mean. I have been on the phone with owner services and I have several reservations that I have reviewed with them in detail. I know the credit expiration date of every credit in every reservation.

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posted 02-03-2005 04:50               

quote:

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Originally posted by rhonda:
As such, I conclude ...

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posted 02-03-2005 13:53            

quote:

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Originally posted by rhonda:
While the behavior is evident now through observation -- it is inconsistent with the way the process was (rather weakly) described prior to migration. As such, I conclude that the 1-yr assignment was an arbitrary decision made during migration avoiding the labor of determining a more accurate credit lifespan.[/B]

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Whether rule, trend or observation, I imagine there will be some unhappy people down the road. People who borrowed from next year's credits to book something 10+ months out, then changed their mind and canceled. They could potentially come back 6 months after their anniversary to book something and be told that the credits they just earned on their anniversary date have already expired, in some scenarios as little as 1 month after the anniversary date.

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WorldMark Owners' Community - - www.wmowners.com

posted 02-03-2005 14:10               

quote:

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Originally posted by rhonda:
As have I. I simply disagree that there is a 'rule' stating that credits should expire 1 year after the date a reservation was made.

While the behavior is evident now through observation -- it is inconsistent with the way the process was (rather weakly) described prior to migration. As such, I conclude that the 1-yr assignment was an arbitrary decision made during migration avoiding the labor of determining a more accurate credit lifespan.

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I completely agree with you. It was an arbitrary rule that was used to assign expiration dates to current reservations. I am not saying that this is the general rule. It was a one-time event. I am simply explaining what is currently implemented. It may be wrong, but that's what it is. Credits will expire if no action is taken.

By the way, my account was fully loaded at the time of IRIS cutover. I am not sure what IRIS did if your account was NOT fully loaded and you have outstanding reservations.

posted 02-03-2005 14:44               

quote:

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Originally posted by pannie:
... Rhonda, ....

Thanks. I owe you one!
Pannie

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posted 02-03-2005 23:17               

quote:

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Originally posted by BocaBum99:
By the way, my account was fully loaded at the time of IRIS cutover. I am not sure what IRIS did if your account was NOT fully loaded and you have outstanding reservations.

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What do you mean by "fully loaded"? Did you have 2 years worth of credits in your account balance?

I had less than one year of credits in my account balance... and I had 53 reservations booked. The credits associated with 100% of those reservations have been assigned an expiration date of 1 year beyond the date I booked each reservation.

posted 02-04-2005 04:58               

53 reservations? Wow!!! That's every week!!!

Well, it looks like this is way more than an observation. It seems like a fully implemented rule. If anyone finds out this is a bogus rule, please let me know.

posted 02-04-2005 14:38            

quote:

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Originally posted by BocaBum99:
Well, it looks like this is way more than an observation. It seems like a fully implemented rule. If anyone finds out this is a bogus rule, please let me know.

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I was told yesterday by Owner Services that because I had borrowed from next year, that I will get the 07 expiration date back when my 05 anniversary rolls around, for credits that will be in my "Current Balance", up to the full new allotment. I don't know what would happen if some borrowed credits are still in reservations, with a bogus expiration date of booking date plus one year.

posted 02-09-2005 21:23               

quote:

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Originally posted by BocaBum99:
53 reservations? Wow!!! That's every week!!!

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Nearly 100% of my reservations are for weekends. We typically head to the coast (or wherever) on Friday after work... and then drive straight back to the office on Monday morning.

posted 02-14-2005 10:27               

So (I was told) as long as you're booking something each year, the points won't expire.

True or false?

posted 02-14-2005 11:48               

quote:

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Originally posted by Zac495:
I was told that every year (this is the ignorant person talking) when you get new points, the system will automatically use your OLD points first.

So (I was told) as long as you're booking something each year, the points won't expire.

True or false?

False. All credits now have expiration dates.

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posted 02-14-2005 18:30               

If one (certainly not me, as I don't deserve to buy anything) wants to travel once a year- peek time - loves Worldmark properties - would one be in a good position to consider WM?

posted 02-15-2005 10:36               

1) I would actually recommend a 5000 credit account, but they aren't that readily available. To get one will cost you a premium relative to a 6000 credit account.

2) 6000 credit accounts are everywhere. It's easier to find many private sellers to whom you can make low ball offers. You will eventually run into a seller who will take your offer. You can get one for between $4000-4800 for a fully loaded account depending on your luck and negotiating skills.

posted 02-15-2005 13:13               

quote:

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Originally posted by Zac495:
What does it mean if there are no points banked, but the account has X amount of points available?

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Ellen,

For what it's worth...the Hatrack method:

When comparing two or more WM packages for potential purchase:

a) Trendwest sells WM memberships for $1.66/credit 'new'....generally they come with one years' worth of currently available credits. (ie. your 6,000 credit annual package if bought today would have February anniversary and would have 6000 'currently available' and you get your annual 6k each new February.

b) thus, I price my packages at their effective price for 6k annual/6k available. (or 10k/10k or 20k/20k.....but always with 1 years' worth of credits).

c) If the package has more or fewer than one year's worth, you can 'rent' from another owner for around 6cents each...thus, add or subtract 6cents for each additional/defiicinet "available balance" credit.

d) if two packages have differing anniversary dates, it makes little difference in the long run, but it may mean the seller has paid a few months' or quarter's worth of the annual dues for you. When you take over that membership, you'll benefit because you'll be several months closer to the anniversary where you'll get your 6k (or whatever size) credits and you won't have had to pay the whole $375/year fee for them. Thus, I'd "prorate" this $375/year...for the number of months already paid.

Since a 6k membership pays $375 in dues to earn each 6k credits....that's about 6.25 cents each.....

So, a couple examples:

a) 6k annual/6k available/February anniversary for $4800.
Since we're in Feb, no date adjustment needed, since it has exactly one year's 'available credits'...no adjustment needed. I view this as $.80/annual credit.

b) 6k annual and 12k available/February. for $5500.
Same as above, but the extra 6k 'avaiable' are worth about (6cents x 6000 = $360). Thus, you could equate this to a $5140 purchase of a 6k/6k/FEB....thus, I'd quote this one as $.856/credit.....not as good of a deal.

c) if 6k/0k/August for $4800.....I'd view this as deficient 6k "available"...so, it would be like paying $4800 plus $360 = $5160 for the equivelent of getting 6k/6k/February anniversary. Since I'm 6 months closer to my Aug anniversary, I'd view that the seller's paid half of the $375 fees for my benefit. I could think of it as if I'd reimburse him $187 (half) since I'll be benefitting next august. Thus, I'd view this package as effectively paying $5160-$187 = $4973 for a 6k/6k at its' anniversary date....or $.829/credit.

Thus, just choose the best priced package. (in this example "A")