Losing points in November and disappointed in DVC

[Ronaldo17]

I rented out my 2018 extended points on Disboards and they were all gone in 2 days. Just price the points right by checking rent/trade forum. Plenty potential renters out there.

 

[Carol_]

We almost lost 14 points. We had 30 days to use them.
Then we booked a night for 18 points last minute. The room service wasn’t great but it worked out.

The moral:
Life is short.
Stay ahead of your points.

 

[crisi]

I agree with that, in addition to having a captive audience who will come back time and time again, and spend more money. None of us could have predicted the damage COVID would cause, though. I lost a few points but I'm still happy with my DVC. I'm planning a trip late 2021 when my 11 month window opens.

I think if you have owned long enough (which I think you have, and I have) where you've gotten what feels like ROI on your initial purchase - and have even moved past that point, where you feel like you've gotten several vacations for the cost of dues alone which is really cheap accomodations - its easier to look at a year or two of dues being thrown out the window as reasonable losses that offset the gains you've already made. There will be another DVC vacation in the future, that I will pay a few thousand on dues on and get a room worth two or three times that. Or I could sell my points at this point in time, and still make money since we bought so long ago.

But if you bought recently, and you are paying dues on a contract you might still be financing, and you would sell at a loss if you sold now, and you haven't taken enough trips to start to feel like its all gravy at this point - this is going to be a hard few DVC years.

Or if you bought with the DVC "do I save money" calculations giving you a razor thin margin to make DVC work for your family - spending $1000+ on dues this year and getting nothing in return is harsh.

 

[AdamsMum]

Or if you bought with the DVC "do I save money" calculations giving you a razor thin margin to make DVC work for your family - spending $1000+ on dues this year and getting nothing in return is harsh.

I have owned for quite a while so I've had my moneys worth already. I purchased to stay in a better resort, though. I wasn't thinking of actually saving money because I always stayed in moderates before I bought DVC.

Life happens. I remember when I locked in my mortgage for 5 years at what I thought was a great rate at the time, then mortgage rates dropped by 5 percent 6 months later. I was stung, but it really wasn't something that was being predicted at the time.

I think the current per point price is outrageous. I feel for new owners, especially those who have just bought. I stand by my comments though, none of us including DVC management could have predicted this mess, and I think they have done what they could within legal limits. There's no way they could have made it right for everyone. This time will pass, and hopefully those new owners will be able to enjoy their purchase for many years to come.

 

[Turn the Page]

I have owned for quite a while so I've had my moneys worth already. I purchased to stay in a better resort, though. I wasn't thinking of actually saving money because I always stayed in moderates before I bought DVC.

Life happens. I remember when I locked in my mortgage for 5 years at what I thought was a great rate at the time, then mortgage rates dropped by 5 percent 6 months later. I was stung, but it really wasn't something that was being predicted at the time.

I think the current per point price is outrageous. I feel for new owners, especially those who have just bought. I stand by my comments though, none of us including DVC management could have predicted this mess, and I think they have done what they could within legal limits. There's no way they could have made it right for everyone. This time will pass, and hopefully those new owners will be able to enjoy their purchase for many years to come.

We are not members yet, planning to buy in next spring. I'm confused by all the outrage and such over this. The entire situation sucks for everybody. It just does.

There is no way for DVC to make enough inventory appear to accommodate the glut of points that is going to happen in the next year or two and allowing more points to be banked will only drag out the problem.

I have heard people suggest that DVC simply add a year or two to the end of the contracts but i'm not sure they could legally do that and even if they could I imagine it would be an accounting nightmare. The reason the OKW contract extensions didn't work was because people didn't want to pay for something today that they can't use for 20 years. I'm not certain this would be viewed any differently.

Maybe relaxing the rules for using points to book cruises or the concierge collection would help alleviate the problem in the short term but the longer this goes on the worse it will be.

I will say though that I am, by nature, more of a banker than a borrower but this whole thing may have convinced me to borrow rather than bank. This may be a once in a generation type situation but anything can happen.

 

[mickeymom629]

I have a different password for every site, all randomly generated, and once the rental is completed that password will get reset and never used again.

Giving my credentials to them wasn't mandatory, it is an option which is a specialty of The DVC Store. If it was some run of the mill place, like the place I just bought my new resale contract from whose URL is in the site filter, then I wouldn't have allowed it. Since it is The DVC Store, a major board sponsor with deep connections to Pete, I felt pretty confident that I wasn't being scammed. Why would they risk the good name of The DVC Store / The Timeshare Store, Dreams Unlimited Travel, and The DIS itself to scam me out of my measly 160 points at Saratoga Springs? I have better things to worry about. Also, because of Disney's new hyperactive security alerts I know every time my account has been logged into, and that was only the day they created the reservation for me.

I am just asking because I have no idea and this situation seems risky - Couldn't a person log in with your credentials and change your pw and email, address, etc, if they wanted? I haven't tried to update my information lately so I don't really know if there is a security code that is sent to your current email or cell phone to confirm that it is you who is changing this. But, otherwise, why couldn't someone who logs in as you change whatever they wanted in your account?

ETA- I assume they need to fill out detailed information about themselves so that you know who they are (or The DVC Store does, at least) in the case that anything is done illegally.

 

[Deb & Bill]

We are not members yet, planning to buy in next spring. I'm confused by all the outrage and such over this. The entire situation sucks for everybody. It just does.

There is no way for DVC to make enough inventory appear to accommodate the glut of points that is going to happen in the next year or two and allowing more points to be banked will only drag out the problem.

I have heard people suggest that DVC simply add a year or two to the end of the contracts but i'm not sure they could legally do that and even if they could I imagine it would be an accounting nightmare. The reason the OKW contract extensions didn't work was because people didn't want to pay for something today that they can't use for 20 years. I'm not certain this would be viewed any differently.

Maybe relaxing the rules for using points to book cruises or the concierge collection would help alleviate the problem in the short term but the longer this goes on the worse it will be.

I will say though that I am, by nature, more of a banker than a borrower but this whole thing may have convinced me to borrow rather than bank. This may be a once in a generation type situation but anything can happen.

When an owner books a cruise or the concierge collection, DVC has to pay the company to make the reservation. How do they get the money to pay? Not from the money tree (wouldn't that be nice?), but they have to rent out the points for cash. If they can't book a DVC stay because of limited availability, they can't get the money to pay for that cruise or concierge collection reservation.

It just comes down to owners need to book as soon as possible to avoid the possibility of no availability for the villa they want/need for the time they want/need. If they are too late, they are too late. The points that cannot be banked are lost.

 

[ColinBlair]

I am just asking because I have no idea and this situation seems risky - Couldn't a person log in with your credentials and change your pw and email, address, etc, if they wanted? I haven't tried to update my information lately so I don't really know if there is a security code that is sent to your current email or cell phone to confirm that it is you who is changing this. But, otherwise, why couldn't someone who logs in as you change whatever they wanted in your account?

ETA- I assume they need to fill out detailed information about themselves so that you know who they are (or The DVC Store does, at least) in the case that anything is done illegally.

I am out of this conversation. If the staff from DVC Store want to justify their services to people here on the boards they sponsor that is on them.

EDIT: I will clear up one misunderstanding. The DVC Store does not give the credentials to the renter, it is was used the staff at the DVC Store.

 

[Deb & Bill]

...EDIT: I will clear up one misunderstanding. The DVC Store does not give the credentials to the renter, it is was used the staff at the DVC Store.

Doesn't matter.

 

[mickeymom629]

I am out of this conversation. If the staff from DVC Store want to justify their services to people here on the boards they sponsor that is on them.

EDIT: I will clear up one misunderstanding. The DVC Store does not give the credentials to the renter, it is was used the staff at the DVC Store.

Thanks for clarifying that is was the DVC Store who used the credentials, but it seems the risk is still there when you give someone your log-in. Granted, they want to keep their reputation, but there must be a better way that doesn't put the owner at risk. I still don't think it makes sense.

 

[ColinBlair]

Agreed everyone, I was really, really stupid using the services of the DVC Store to rent out my Saratoga Springs points and supplying them with my credentials. I apologize to my parents and siblings who I have shamed with my deeply, deeply regretted mistake.

I promise in the future not to make use of any services recommended by the DIS Boards or, if I do, I will make very sure I don't discuss doing so on the DIS boards.

 

[CarolMN]

Agreed everyone, I was really, really stupid using the services of the DVC Store to rent out my Saratoga Springs points and supplying them with my credentials. I apologize to my parents and siblings who I have shamed with my deeply, deeply regretted mistake.

I promise in the future not to make use of any services recommended by the DIS Boards or, if I do, I will make very sure I don't discuss doing so on the DIS boards.

I know you are being sarcastic. I just want you to know that I think the risk you took is very minimal, and I would not hesitate to do the same were I in a position to rent. The DVC Store is very reputable and has been in business a long time. I think there is just as much risk whenever I use my credit card.

FWIW, I didn't see any posters calling you stupid. They just disagree with us and are more risk adverse than you and I are.

 

[Sara W]

I hope you consider renting your points! I’ve gone twice since July by renting points from someone who was unable to use them. I was glad to help them out and get a vacation I felt comfortable going on (not many places I feel comfortable visiting these days). This past week it was a Godsend to be able to take my kids and do virtual school from a new location. They were happier than I’ve seen them in months. And I was able to get a 1 bedroom that allowed us to spread out while we worked.

 

[Sandisw]

I know you are being sarcastic. I just want you to know that I think the risk you took is very minimal, and I would not hesitate to do the same were I in a position to rent. The DVC Store is very reputable and has been in business a long time. I think there is just as much risk whenever I use my credit card.

FWIW, I didn't see any posters calling you stupid. They just disagree with us and are more risk adverse than you and I are.

I also want to add that they don’t require you to do this. It is an option given to owners who are comfortable with it as part of the process.

 

[FRANKTSJR]

Has anyone has an issue with DVC not calculating point usage accurately?
I have an Oct. use year at BWV with 170 points. I had 5 points in holding in 2019 use year. I borrowed 170 points from 2020 use year for a reservation I just had to cancel. Now I have no points in 2019 use year and only 165 in 2020. Something is not right? I should still have the 5 in holding for 2019 which is moot(but hoping DVC would move to 2020) and I should have all 170 in 2020 use year. I don't see how it's possible to have 165 in 2020. FYI- I cancelled more than 31 days out.

 

[Sandisw]

Has anyone has an issue with DVC not calculating point usage accurately?
I have an Oct. use year at BWV with 170 points. I had 5 points in holding in 2019 use year. I borrowed 170 points from 2020 use year for a reservation I just had to cancel. Now I have no points in 2019 use year and only 165 in 2020. Something is not right? I should still have the 5 in holding for 2019 which is moot(but hoping DVC would move to 2020) and I should have all 170 in 2020 use year. I don't see how it's possible to have 165 in 2020. FYI- I cancelled more than 31 days out.

Look at your detailed points activity statement because that will show you exactly what happened.

While mistakes are rare, I think they can happen. When you review that you should be able to see exaclty what happpened when you canceled.

I am assuming your reservation was 175 points. Were the holding points by chance OTU or transferred? They don’t show up...

If your statement shows you had 175 in your 2019 as soon as you canceled, then call. They will figure it out.

 

[FRANKTSJR]

Look at your detailed points activity statement because that will show you exactly what happened.

While mistakes are rare, I think they can happen. When you review that you should be able to see exaclty what happpened when you canceled.

I am assuming your reservation was 175 points. Were the holding points by chance OTU or transferred? They don’t show up...

If your statement shows you had 175 in your 2019 as soon as you canceled, then call. They will figure it out.

Detailed points activity shows -5 points manually deducted on July 11th which is the day the Parks re-opened(weird). I did buy some OTU points to round out my reservation in Oct. 2020. I just don't understand how 170 points in 2020 use year becomes 165 and why 5 holding points in 2019 use year are gone. Wouldn't the 5 holding point in 2019 use year disappear on Oct. 1 2020? Why would they make a -5 point manual deduction on July 11?

 

[FRANKTSJR]

Detailed points activity shows -5 points manually deducted on July 11th which is the day the Parks re-opened(weird). I did buy some OTU points to round out my reservation in Oct. 2020. I just don't understand how 170 points in 2020 use year becomes 165 and why 5 holding points in 2019 use year are gone. Wouldn't the 5 holding point in 2019 use year disappear on Oct. 1 2020? Why would they make a -5 point manual deduction on July 11?

Also, what happens to the OTU points?

 

[Sandisw]

Detailed points activity shows -5 points manually deducted on July 11th which is the day the Parks re-opened(weird). I did buy some OTU points to round out my reservation in Oct. 2020. I just don't understand how 170 points in 2020 use year becomes 165 and why 5 holding points in 2019 use year are gone. Wouldn't the 5 holding point in 2019 use year disappear on Oct. 1 2020? Why would they make a -5 point manual deduction on July 11?

When was the reservation that you canceled? I just want to be sure I give you correct info because it sounds like there were 2?

If you purchased OTU points for a trip in your 2020 UY, and that is now canceled, then those have to be used by Sepremier 30th, 2021.

No idea why they charged you the 5 points so that seems like an error,

If you had borrowed the 2020 points.....those would have been put in your 2019 UY...when you canceled, they would go back there, but since they are returning borrowed points, they would be sent back to 2020 UY. One thing is sometimes they miss some and it take a few Weeks,

But, those would show in your 2019 which you say it does not. When you canceled the trip, what does it say in your statement was returned?

 

[FRANKTSJR]

When was the reservation that you canceled? I just want to be sure I give you correct info because it sounds like there were 2?

If you purchased OTU points for a trip in your 2020 UY, and that is now canceled, then those have to be used by Sepremier 30th, 2021.

No idea why they charged you the 5 points so that seems like an error,

If you had borrowed the 2020 points.....those would have been put in your 2019 UY...when you canceled, they would go back there, but since they are returning borrowed points, they would be sent back to 2020 UY. One thing is sometimes they miss some and it take a few Weeks,

But, those would show in your 2019 which you say it does not. When you canceled the trip, what does it say in your statement was returned?

Wow, you really know your stuff!! Yes, I had two BWV SV from 10/09-1017. I had to cancel since from NY and would have to quarantine on return to NY. Broke my heart! Yes, seems like the -5 points on 7/11 is an error. I'll call MS tomorrow and report back. Thanks for your help!