RCI Innovations Inc.

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Original Message:

Re: RCI Innovations Inc. (by Beck):

I was called by RCI Innovations, at first they said RCI and that they were an arm of RCI helping people buy and sell timeshares. That call came from (561) 201-6420 and after I repeatedly asked clarification questions he admitted he was from RCI Innovations. After the guy did the standard pre-qalification where I mentioned my two WVR units 818k Ocean Walk and 500k Nashville, James Ware from 305-896-2345 called to close. He said he has a buyer with a non refundable $5,000 deposit who will pay me $106,340 within 90 days. I am to pay a title search and closing fee up front $2,896 which is 100% refundable after 90 days if the minimum price of $106,340 is not paid to me.

So I called my credit card companies.

AMEX said I can get a refund for purchases made within 60 days and on a case by case basis they would issue refunds for disputes if the payment is over 60 days. The criterion they had was dependant on any contract between myself and the merchant, agreements AMEX have with the merchant, published merchant policies, and other criterion which could affect a decision for any payments/purchases made more than 60 days in the past. But of course they are unable to provide me with any written info on this criterion.

My Capital One fraud department said they will process disputes up to 6 months from the date of purchase, and more than 6 months if the dispute is submitted in writing. But in the past they have at times refused to refund money in some cases where they came to a conclusion which was incorrect, and I had to spend a huge amount of time at least three times int he past 10 years getting them to correct their errors and get my refund.

I'm asking them to revise a section of their contract, removing the reference to providing refunds if the unit doesn't rent in 90 days and add a reference to their e-mail offer guaranteeing payment of at least $106,340 within 90 days or full refund of the $2,896. If they agree, I'm going to do it and ride the wave of either elation ($106k) or despair (spending time disputing the payment).