High sell for SFX lifetime

Got a call last night from someone at SFX trying to sell me a lifetime membership for $1995. I have never used their services and was not about to spend $1995 without knowing if I like their services.

She told me I had 24 hours to decide. She tried to compare it to buying insurance - said I would always have a trading company and that this was much lower cost than purchasing every year.

Before I would buy anything like this I would want to see what trades I could get. To see if I would use it on a regular basis. To insist I only have 24 hours to make up my mind is ridiculous - sounds like a timeshare sales person!

SFX, once a reputable exchange company, has gotten mixed up with an outfit called Platinum Rewards that uses pie-in-the-sky promises for cruises that you can find online for 10% of the prices they are charging. Ignore the phone call - and don't lose any sleep over it.

It is a crying shame that a once-decent exchange company got on this ethically dubious train!

A lifetime membership with SFX is good for the life of SFX, not your lifetime. I don't now how old you are but I would bet money that you will be around long after SFX is gone. Don't even consider it.

Since SFX only accepts selected resorts for deposit, how valuable would your membership be if the time came when you no longer owned any of those?

A 24 hour deadline to spend that kind of money is enough pressure to create suspicion.

Are you sure it was SFX calling and not a credit card thief?

I think it was probably Platinum Rewards calling. BTW, they also have a 10 year plan which is a lot less expensive. And SFX still offers their Platinum level membership and their free Gold level.

Sue

Thanks for everyone's advice. While we were told the cost was $1995 for the "lifetime" membership, she sent an e-mail which stated it was $2495! Also told it would be thousands of dollars more to buy it later.

What a scam! No way we were going to buy this.

Jackie

eal said:

SFX, once a reputable exchange company, has gotten mixed up with an outfit called Platinum Rewards that uses pie-in-the-sky promises for cruises that you can find online for 10% of the prices they are charging. Ignore the phone call - and don't lose any sleep over it.

It is a crying shame that a once-decent exchange company got on this ethically dubious train!

Click to expand...

VRI is also affiliated with Platinum Rewards now. I also fail to see anything of value to it.

Here is the offer we received (I never inquired - it was a cold call):

Dear SFX Member,

Thank you for your recent inquiry about SFX Platinum Rewards, our newest membership program which provides unparalleled exchange benefits that offer incredible flexibility and extraordinary vacation options worldwide.

As an SFX Platinum Rewards member, you’ll enjoy these incredible benefits:

• Discounted resort exchange fees
• Take up to 2 years to complete a resort exchange on a deposited week
• No advance payments – only pay a resort exchange fee once you are confirmed for your resort exchange
• Ability to make an exchange request first and only deposit their week when a successful resort exchange match is made
• Complimentary guest certificates
• Free room upgrades on resort exchange (when available)
• Discounted rates on Sell Off weeks
• Unmatched trade value on cruise and tour exchanges offering savings of up to $1,200 with a week deposit
• Never pay a cruise or tour exchange fee
• Access to all major cruise lines, worldwide itineraries, last minute availability, no black-out dates
• Exchange pricing on up to four (4) cabins or tours with just one week deposit
• Access to more than 30,000 hotels worldwide and Five Star/Gold Crown resort rentals
• Escorted tours, river cruises, independent travel tours, experiential vacations
• Earn and redeem Platinum Rewards for significant vacation savings
• Best Price Guarantee on cruises, resorts and experiential vacations
• Friends and Family benefits
• Member Concierge Services
Limited-Time Membership Offer!
You are eligible to take advantage of our exclusive SFX Platinum Rewards Lifetime membership offer to receive significant savings off the annual membership fee*.

SFX Platinum Rewards Lifetime Membership
Benefits Include:
• Extensive Exchange & Travel Benefits (listed above)
• 50,000 Platinum Rewards Loyalty Points
• One 4-Night Cruise for Two
• One 7-Night Resort Stay
• 50-year Membership Term (think they will be in business for 50 years?)

Now only $2,495!


Limited-time only! Call 1-866-855-1214 today!

• Discounted resort exchange fees
• Take up to 2 years to complete a resort exchange on a deposited week
• No advance payments – only pay a resort exchange fee once you are confirmed for your resort exchange
• Ability to make an exchange request first and only deposit their week when a successful resort exchange match is made
• Complimentary guest certificates
• Free room upgrades on resort exchange (when available)
• Discounted rates on Sell Off weeks

These are all available through the much less expensive "regular" platinum. Mark from SFX has stated on another board that if you don't take cruises on premium lines then the Platinum Rewards program probably isn't for you. I'll keep my regular platinum membership, but I rejected the "offer" from Platinum Rewards.

Also with platinum, you can request 18 months in advance. I usually put in my requests more than a year in advance so this is a benefit that I like.

If you take advantage of their deposit specials, expiration dates for all current deposits are extended by 2 years and you can get bonus weeks. I often use bonus weeks, which are more expensive than last call on RCI, but I can use them for any where in the world (except Manhattan and my home resort) and I can place a request with them. I have 2 bonus weeks for 2010 and I've already had my request for them filled.

As the previous poster pointed out, many of the benefits are standard with a regular SFX Platinum membership. If you eliminate the cruise stuff, you basically have the standard SFX Platinum membership.

How much is the regular platinum membership for SFX on an annual basis? I don't see an option for that on their site.

You have to call and speak with a representative to get the regular Platinum. I don't remember what it cost because I paid my fee 4 years ago. It seems to me that it was something like $450 for 5 years.

Sue

I renewed my 5 year Platinum Plus membership 2.5 years ago. I believe it cost $259 for 5 years,

Even better!

I could be off a little but but I remember that it worked out to 50 something dollars per year.