Original Message:
Re: Buying Fairfield Points( property ownership not renting} ont he Resale Market. (by Lanita P.):
stanleyf5 wrote:adahiscout wrote:stanleyf5 wrote:===========marisas13 wrote:stanleyf5 wrote:Can you use the PIC program (a program that allows you to convert your non-fairfield property into points) if you purchase fairfield points on the resale market?Hi. If you are considering purchasing Fairfield UDI points on the resale market, and the seller includes banked points in his ad, be aware that Point Credit Pool Points (banked points) are not transferable. To get the benefit of these points you must include in your Purchase and Sales Agreement a clause that says the Seller will use the banked points to reserve specific vacation week /days destinations for you and provide the guest certificate to you. Otherwise you will lose the value of the banked points since they are not transferable to the new owner. Stan.Hi. Yes, but I don't know how many points you have to buy to convert your non Fairfield property to points.There is also a fee to make the conversion each year. You have to convert on a yearly basis. Stan
Somehow we seem to have lost the original message which is being answered. I was trying to locate it to clarify the reference to Banked Points. Are we sure the questioner was not really talking about the seller having points that were converted into a week and banked with RCI? Point Credit Pool points are usually referred to as Pool Points, not Banked. In any case, only the Seller knows for sure.
Regarding PIC contracts, rules have been changing. Call Wyndham and ask what the rules are now for adding them to a purchase contract. You do pay an annual point based fee to keep the PIC contract active but you only convert the PIC into actual FF/W points when you choose to go through the process of doing so 10 to 12 months ahead of the use date of the week you give Fairfield. There is a $50 fee. If you choose to use the PICable resort normally in some years, you can do that too. It is still yours. PIC weeks MUST be elegible to be deposited with RCI--because that is exactly what FF does with them. My theory is that RCI puts them up for rent and pays FF the income since no exchange was taken out of RCI inventory.
One of the possible changes which I just read about on the Fairfield Platinum Yahoo site is that PIC based points will not count toward VIP status as they have in the past. However, this is not yet stated in the current Directory. It does say one can now enroll a maximum of two PICs and a purchase is required. They don't state the minimum purchase amount but I'm sure it is one purchase per PIC. The Directory also notes some limits to how PIC points can be used. Previously, they were considered Regular Points except for the fact that they expired a year from the deposit date instead of at the end of one's normal Use Year.
MD
Hi. I was referring to Point Credit Pool points. Stan
The Points Credit Pooled are not transferrable. Also if you buy resale you can't use those points for "PLUS PARTNERS" however to be truthful "PLUS PARTNERS" is not worth paying full price. I bought 164,000 pts resale then I upgraded to "Bonnet Creek" in order to get PLUS PARTNERS and VIP status...and they allowed me to use my resale points to get the VIP status and PLUS PARTNERS...however I paid $21000 for 154,000 pts new (at "BONNET CREEK" on DISNEY PROPERTY what was I thinking) when I got 164,000 pts for $4200 resale... go figure. So I chock that up to lessons learned and have vowed henceforth not to go to anymore presentations and to only buy resale! Because I tried to use "PLUS PARTNERS" and was very disappointed because the cost in points for airfare/car rental/disney tickets was higher than a 2 bedroom for a week, however being "VIP" does get me a 25% points discount when I book within 60 days of travel so that's been worth it. I hope this helps. I bought my resale from www.holidaygroup.com