We received the following submission from one of our users regarding their experience with RCI:
“I am very disappointed with their program. I was really looking forward to a vacation I booked in March 2016 for December 2016 but had an emergency with my son and he was hospitalized. So of course we have to cancel our vacation. We could not re-book, receive any of our money back or get some kind of RCI credit for future use. It really is sad that they would just take $500 plus dollars for something our family could not use after all because of a serious accident.
-Very disappointed member”
Anyone else have a similar experience with RCI or other timeshare exchange programs? What do you believe these companies should do in the event of a cancellation? Tell us about it!
One of our users left the following comment on our 10 Steps to Successfully Rescind Timeshare article:
I signed with RCI and Legacy, its past the cooling off period, but I haven’t paid the down payment yet. Does that mean the contract is still valid? should I just cancel the card and not pay? would that cancel my contract?
It would make things a whole lot easier if you could simply cancel your credit card to get out of your contract, but unfortunately that is not the case. According to credit.com, once the seller has your credit card information, they will also be in possession of your social security number. So once you cancel the card, the account will then be referred to a collection agency, at which point they can report it to a credit reporting agency. You will still be responsible for payments and if you do not make them on time, it could hurt your credit score.
It is also likely that your down payment by credit card was processed very quickly by the seller when you signed the contract and that what you now have yet to pay is the bill from your credit card issuer. The good news about making such a purchase on a credit card, however, is that you have the right to dispute the charge if you feel the seller misrepresented the product (in this case, the timeshare) or did not deliver what was stated in the contract. There is a time limit for disputes, however, usually around 60 days. Read your credit card agreement so you know how much time you have.
We received the following submission from one of our users regarding their experience with RCI and timesharing in general:
“So far my experience with RCI has been horrible. My mom and I own a timeshare together which she used fairly often. She died in August and timeshare became mine. I have paid the bills. I have called multiple times over the past year and as of yet not a single person has been able to help me learn how to use this timeshare. I have had to fax my mom’s death certificate on three different occasions. But there doesn’t seem to be anybody in our ceiling to help me. I know RCI is the biggest timeshare company out there but I must admit I’m seriously disappointed in their lack of customer support.”
What are your thoughts? Have you had a positive or negative experience with your timeshare/exchange company? Please share it with us!