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JLB · 05-12-2009, 11:07 PM

I've been asked to share more information about the RCI Elite Rewards card, so I'll do it publicly.

Originally it was issued by MBNA, then Bank of America bought MBNA. Not having anything to do with the federal bailout, just having to do with how crappy BOA is to their customers, I would never take out anything issued by BOA. Everything else we have or have had with BOA has been a mess, and they have paid us more than $500 the past year for screw-ups, one through our AG and the second because they admitted screwing up.

However, we have done OK with this card. We have a credit limit of $50K and the interest rate presently is under 5% (prime plus a little something). We have used it for business and personal purchases. I'm sure there is a monthly max, but we have never hit it.

There is always a 0% balance transfer offer or some other enticement in our mail box or by email.

It is a Rewards card, paying 1% m/l, some things higher some things lower. You can get higher rewards for companies partnering with BOA, but I haven't paid attention to that. RCI Rewards is just a small part of the selection. You can redeem points for credit on your Weeks account, Points account, or Resort Dollars.

I always redeem for Weeks credit when we have 2500 points, which gets $25 credit to our RCI account. Right now we have $175.

You cannot see that credit online, and you can't use a credit balance for an online transaction anyway, so you have to call a Guide. Now that you don't have to put new money down to put an exchange on Hold, that is not as big a deal as it used to be.

Feedback has assured me that the exchange fee will be the online rate, not the higher rate when you book through a Guide. Time will tell on that.

I pay the balance in full every month.

Anything else?

https://rcieliterewards.rci.com/ip-rci/viewHomePage.do

JLB · 05-31-2009, 02:15 PM

Originally posted by JLB

You cannot see that credit online, and you can't use a credit balance for an online transaction anyway, so you have to call a Guide. Now that you don't have to put new money down to put an exchange on Hold, that is not as big a deal as it used to be.

Feedback has assured me that the exchange fee will be the online rate, not the higher rate when you book through a Guide. Time will tell on that.

Time did tell on that.

I put an exchange on Hold online ($164) and called a Guide to apply the $175 credit.

The first Guide was an inexperienced one having a difficult time with English. Of course, her screen told her she needed $189. After fumbling with it awhile she said she had to get a Supervisor, then, after a proper wait, disconnected me.

The second Guide also saw the $189, but actually understood the problem and had a solution. First, he charged another $14 to my Credit Card, giving him the $189 he needed with the $175 credit. Then he said he gave me a coupon for $25.

I asked for a $25 credit on my credit card instead and he said no problem.

It has never appeared, and when I reported to Feedback how it really works, they said they would put the $25 coupon on our account.

I haven't checked that yet.

The short of it is . . . No, you cannot get the online $164 fee if you have to call a Guide to use a credit in your account.

chriskre · 05-31-2009, 11:00 PM

This seems complicated. Maybe i am not that good at finding the deals yet but I just redeem my points for gas cards. Also for staying at motels when I have to stay in a non timeshare place. I like the RCI card. So far I've also gotten a digital picture frame and a weight watchers electronic scale. I'll have to look into exchange credits and see if it's worth it.

JLB · 06-01-2009, 11:36 AM

Those who have been around awhile know that at one time, when MBNA was in charge, they devalued points without notice. If I recall, you did not get RCI $$$ at that time, you just cashed in points for exchanges or renewal fees when you had enough.

Also if I recall right, we had 19600 points, and exchanges were 10000 points, so we were 400 short of two exchanges. After the change an exchange cost 20000 points, so we went from 400 points short of two exchanges to not enough for one.

I protested on behalf of all, linking to the thread discussing it.

MBNA compromised it in our case by allowing us one exchange for 10000, but that left us with 9600 points of the 20000 needed for the second exchange.

It was at that time that they added the feature to buy more points with real money, because of our problem.

In short, when we have 2500 points (say every other month; or every month---ouch!!!), I redeem them for 25 RCI Dollars in our account.

That makes it a 1% premium.

Yes, some are higher. But in this case we are actually using it on something we were going to spend anyway rather than on something we don't really need.

chriskre · 06-01-2009, 10:10 PM

Makes sense. That's why I redeem my points for gas because who doesn't need gas these days. I got the scale because I needed it. The photo frame was a gift for Mom and those suckers are expensive.

JLB · 06-01-2009, 10:33 PM

Originally posted by chriskre

The photo frame was a gift for Mom and those suckers are expensive.

My Mom was never very expensive.

chriskre · 06-01-2009, 10:41 PM

Originally posted by JLB

My Mom was never very expensive.

Well my mom is the Queen of Kendall (suburb of Miami). Actually I have her very spoiled. She is here with me in Yarmouth and enjoying the Cape tremendously. I'll be broke after this vacation.

tonyg · 06-01-2009, 11:07 PM

I dropped the card almost a decade ago. When they changed the rewards I lost interest, particularly since I could get 2% or more back with other cards. I've
about had it with RCI now too, so the card wouldn't interest me.

M. Henley · 06-02-2009, 11:19 AM

That's When!!

That's when I put my card in a drawer and haven't used it since. There are better deals out there.

Originally posted by JLB

Those who have been around awhile know that at one time, when MBNA was in charge, they devalued points without notice. If I recall, you did not get RCI $$$ at that time, you just cashed in points for exchanges or renewal fees when you had enough.

Also if I recall right, we had 19600 points, and exchanges were 10000 points, so we were 400 short of two exchanges. After the change an exchange cost 20000 points, so we went from 400 points short of two exchanges to not enough for one.

I protested on behalf of all, linking to the thread discussing it.

MBNA compromised it in our case by allowing us one exchange for 10000, but that left us with 9600 points of the 20000 needed for the second exchange.

It was at that time that they added the feature to buy more points with real money, because of our problem.

In short, when we have 2500 points (say every other month; or every month---ouch!!!), I redeem them for 25 RCI Dollars in our account.

That makes it a 1% premium.

Yes, some are higher. But in this case we are actually using it on something we were going to spend anyway rather than on something we don't really need.

JLB · 06-02-2009, 11:24 AM

Although I would be reluctant to leave the 4.99% interest rate, I would not be reluctant to divorce BOA, as I have had to fight for, and received, two settlements from them in the last year.

Som this would be a nice place for y'all to share those better deals.

M. Henley · 06-02-2009, 03:48 PM

Depends

The deal depends on your spending habits, etc.
Since I often have to stay at hotels, and since I have chosen Southwest Airlines miles (although it is actually credits) at the chain in which I most often stay, the Southwest card is good for me as the dollars spent also count toward an award.

Between Rita and I we have received 5 RT awards for anywhere stateside in the past 12 months (with drink coupons).

JLB · 05-23-2010, 12:33 PM

Since interest rates fell and RCI Elite Rewards were devalued without notice awhile back (prompting a small revolt among cardholders), the rate of reward has been 1% ($100 of credit card purchases earns $1 RCI Member Dollar).

I just noticed that 16000 points can now be redeemed for $200 in RCI Member Dollars, a 1.25% return, about the same as CD interest rates now.

$200 RCI Member Dollars® - RCI Points®
16,000

Maybe it's been that way all along, and I hadn't noticed cuz I never looked at amounts that high.

When you look at your redemptions, you see that for a period it was less than 1%:

Your RCI® Elite Rewards® Points Redemptions
Redemption Date Description Points
12/13/09 RCI Member Dollars® - RCI® Weeks $75 7,500
08/17/09 RCI Member Dollars® - RCI® Weeks $25 2,500
07/21/09 RCI Member Dollars® - RCI® Weeks $50 5,000
05/09/09 RCI Member Dollars® - RCI® Weeks $25 2,500
03/21/09 RCI Member Dollars® - RCI® Weeks $50 5,000
01/24/09 RCI Member Dollars® - RCI® Weeks $25 2,500
12/10/08 RCI Member Dollars® - RCI® Weeks $25 2,500
11/18/08 RCI Member Dollars® - RCI® Weeks $50 5,000
03/20/07 $100 in RCI Member Dollars 13,500
07/25/06 $100 in RCI Member Dollars 13,500
07/25/06 $25 in RCI Member Dollars 3,500
12/06/05 $200 in RCI Member Dollars 25,000

Notice that it does not show you redemptions made when it was greater than 1%.

JLB · 02-18-2011, 01:02 PM

It seems like some things you do business with almost demand close scrutiny, and revisiting them, as part and parcel, and this one does not disappointed in that regard.

Since our last redemption we should have been credited with a little over 17000 new points, but it is just barely over 15000. 16000 is a key level, the first at which you get a better than 1-for-1 redemption rate.

As an example, we just credited 660 points for a $4081 payment. Oops!

Not unlike several times before, I called them and they are going to audit it.

JLB · 02-18-2011, 02:14 PM

I have received an explanation that the difference is because of the way purchase credits are posted. They said it is not based on the statements we receive, or on the amount we pay each month, but, rather, in realtime as the purchases are made.

So, that makes checking them problematic.

But, I'll find a way.

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