Timeshare owners around the
country continue to experience some confusion as to who RCI is and what RCI
does…and doesn’t do.
In an attempt to clear up
this confusion and save owners time, aggravation and in some cases, thousands
of dollars, here is an essential primer.
First of all, RCI is an
exchange company. They facilitate the
exchange or trade of one timeshare to another in a network of nearly 4,200
resorts worldwide. Timeshare owners typically
pay an annual membership fee to RCI as well as an exchange/trade/usage fee. RCI does not sell timeshares.
Many timeshare owners have
been swindled out of thousands of dollars by not fully understanding what RCI
does and what they don’t do.
Here’s a quick guide to
assist:
* RCI does not sell
timeshare
* RCI does not set or charge
resorts’ special assessments
* RCI can not and does not
arbitrarily change the number of points in your account
* RCI does not cold call in an
attempt to sell vacation packages
* RCI does not cold call with
invitations for “informative meetings” at a local restaurant, hotel, meeting
room or any place else
* RCI does not buy timeshare
nor facilitate in the transfer of any timeshare
If you have questions or
doubts when you are contacted by a company claiming to be RCI, don’t do
anything at all before checking with your home resort and Timeshare Insights for
verification.
3 comments:
What RCI does is this:
You "deposit" your weeks to exchange them. If they are able to they rent your week to anyone they can for cash and they then keep the money. They fleeced you.
Later, if you try to get them to make good on your exchange deposit they have already rented all the weeks they have, so unless you go way out in the future you cannot get what you supposedly own, because you gave it to them and they essentially took it, rented it and kept the money. They fleeced you.
If the law were changed so this would not be allowed timeshare owners would become a valuable thing to them and the resorts, but as it is timeshare owners are a cash cow to be fleeced.
I appreciate, but do not wholly agree with your comment. RCI representatives, have from time to time, attempted to explain trades/exchanges rentals.
I will make that opportunity available to them again via this blog.
What don't you agree with?
I propose that if RCI and other exchange companies were barred from renting out your week there would be much less problem getting a week you want on your exchange, for everyone.
The reason it's often so difficult to get your exchange is because of this.
The exchange you are entitled to, by the way. If those weeks were there to expire instead of being rented, you could go there yourself, when you want to.
Not a year in advance. Which is how it is not.
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