Thursday, January 6, 2011
RCI Reveals What Happens Behind the Curtain to Determine Trading Power
We’re going to outline the “need to know” here: Nothing has changed in the way RCI calculates your trading power; it’s simply unveiling how RCI comes up with the value of your exchange. RCI assigns the value of the week you deposit with a number they all “Trading Power”. This number can range from 1 to 60 where 60 represents a week with the maximum trading power possible.
Here is something new! You can search for a vacation by “Trading Power,” making it even easier to compare resorts and to book the vacation you want and more importantly you can attain! For example, if you have a trading power of 48, you know that you can make a reservation for any resort with a trading power of 48 or lower.
Here’s an additional new benefit! You can combine your leftover trading power with leftovers from previous exchanges or current deposits to where you can accumulate enough for another vacation!
How can you increase your trading power? You can positively affect your trading power by paying close attention to the timeliness of your deposit. The earlier you deposit the more trading power you’ll earn for your trade. Log-on to RCI.com to monitor your account and be your very own vacation guide.
So why did RCI implement this new program? And how does it really benefit me? Here is what others are saying about RCI's new Enhanced Weeks Program:
RCI Starts to Implement Settlement Terms of a Lawsuit Through Implementing the Enhanced Weeks Program
(Source: Time Sharing Today)
At the same time that RCI’s attorneys notified other counsel and Time Sharing Today’s publisher about the progress of RCI’s compliance with the class action settlement agreement, RCI appears to have moved beyond its obligations in rolling out a new trading power initiative.
While the settlement only required RCI to respond to a member’s request about the trading power of that member’s week and available inventory for which the member’s deposited week had sufficient trading power, RCI is now letting its members use the trading power information to provide more flexibility in making exchanges and trading up to highly demanded weeks.
Resort weeks will reportedly be rated with trading power ranging from 1 to 60. Trading power ratings of several deposited weeks can be combined to trade up to a week with a trading power higher than any one of the member’s week. If a member exchanges into a week with lower trading power, the member’s account will be credited with “excess” trading power and combined with a subsequent deposit’s trading power to determine the trading power available for the member to use.
RCI began educating members on these new developments on RCI.com and in the October edition of its Endless Vacation magazine, explaining how trading power transparency, deposit credits and combing deposited weeks will greatly assist them in their future vacation planning and provide them with more choice, flexibility and value in their future vacation planning. RCI will provide further information to its members throughout the next few months to help ensure confidence with the new enhancements and highlight the benefits to members worldwide.
“In the increasingly transparent online vacation planning world that we live in, this something our members have been consistently asking for. It’s one of the most exciting things we’ve ever done for our members – it’s really unprecedented,” said Geoff Ballotti, CEO, RCI. “Transparency is important because people want to have more control over how they trade their timeshare vacation for another vacation they’d like to take.
Compliance with another significant part of the settlement agreement – deposited weeks being held exclusively for exchange and not available for rental during a 31 – day post – deposit period – will be implemented on or before April 11, 2011 according to the letter from RCI’s attorney.
We found the comments and discussions following these articles are very helpful giving good examples and insights.
Hopefully this has helped shed some light on the new program offered by RCI to weeks owners. Feel free to contact us here Plantation Resort by calling 1-800-845-5039 if you have additional questions or would like help making your exchange. We are happy to assist you.