Resale/Timeshare Store Question

[Tina]

I'm an owner at SSR and thinking about picking up another small contract. Does anyone know if Timeshare Store will allow a credit card purchase?

 

[Janet Hill]

I know that they did not when I made my purchase ~ 18 months ago.

 

[tammymacb]

You may be able to use one for the deposit, but you can't use one for the closing. That has to be a certified/bank check.

 

[Tina]

Thanks for your answers everyone. I was hoping to gain some airline miles at the same time. I guess I'm better off to just pay via check.

Now I just need to decide if i want to buy a small contract via resale or use that cash for a downpayment on a larger contract from DVC with an incentive. Decisions... decisions....

 

[Princess Amy Lyn]

GMAC said that you could use a credit card for up to $4000, after that there is a fee.

 

[gingermouse17]

I just purchased a HHI contract through the timeshare store and they did not want to accept credit card for any costs but they did say that I could use a check that the credit card company normally send.

 

[Buckeye Fan]

I just purchased a HHI contract through the timeshare store and they did not want to accept credit card for any costs but they did say that I could use a check that the credit card company normally send.

I'm not sure how these work today, but when I used to work at a bank many years ago, when a credit card check was written and cashed, it was like a cash advance and interest started immediately (versus the float you have with a normal purchase). If you decide to look into this option, just make sure you understand the terms of your bank and if there any additional fees.

 

[Caskbill]

Keep in mind that you are not 'buying' from the Timeshare Store. You are buying from a current DVC owner who is selling their contract.

The Timeshare Store is simply the broker in this transaction. Basically the middle man.

I suppose one could ask the seller if they would accept a credit card, and basically lose up to 3% of their asking price.

I know if I had a business where I arranged a sale between two people, let's say for $3000, and my commission was $300, I sure wouldn't accept a credit card for the $3000, and pay a $90 fee to the credit card company which in turn would knock my $300 profit down to $210. (OK, I know it probably wouldn't be the full 3% on larger charge amounts, but you get the point)

Likewise, why would TTS ever want to pay a credit card fee to accept funds that are going to the seller of the contract?

GMAC probably accepts a credit card up to $4000 because their fees are that much higher to begin with.

Just .02