I like RCI Points, and own several RCI Points timeshares, but the best use of RCI Points is to book stays at timeshares, not for RCI Points Partners (which is RCI's program for things such as airfare and car rentals.)
As Chriskre said, there are some timeshares that are a much better deal through RCI Points than through RCI Weeks.
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I guess the biggest draw to the RCI points program for me is the fact that I can use the points for items like short stays and airfare - especially since I travel for my business often.
The problem is that RCI only lets you use 1/3rd of your points towards RCI Points Partners. I'll bet the timeshare salesman didn't tell you that part! (You can use a little more if you belong to RCI Platinum, but that costs an extra annual fee.)
Plus, RCI Points Partners has high fees every time you book airfare or a car rental, etc. Plus, RCI Points Partners' web interface is buggy as h*ll and RCI charges extra if you book your airfare (or whatever) over the phone, even if it's their fault that you can't book online.
Plus, RCI can and will further restrict RCI Points Partners whenever they feel like it.
Currently, RCI Points Partners gives 0.9 cents per point toward airfare, car rentals, etc., but there is also the cost of their fees. So, if you want an airline ticket costing $360, you will have to give RCI Points 40,000 of your points, plus their booking fee.
RCI Points Partners is an OK use of RCI Points that would otherwise expire, but you aren't going to break even booking something through RCI Points Partners unless your MF (annual maintenance fee) per RCI Point is 0.8 cents or less. Very few timeshares have MFs that low per point.
...Knowing that these timeshares are near worthless, why do they still try and sell ones (like a 1 BR at the Grandview) for $12K-15K? Are they just counting on stupid people...
Well, "stupid" is a strong word. But the timeshare developers are counting on uninformed people, at least.