Me, my husband and a friend was vacationing at the Oceanside Pier Resorts. We were invited to listen to a timeshare update presentation for 90 minutes. We attended the presentation and and discussed the possibility of upgrading to the Wyndham Access Plus that they were offering for a VIP status. We explained that we may have a interest if our equity in our current timeshare would cover the cost to upgrade to it but that we did not want to have to pay out in money out of pocket. The agent said no problem I'm sure it will cover it. So we had to fill out an application and on it was a space talking about Wyndham rewards credit card the agent asked if we would be interested in applying for it she stated that we could gain Wyndham points just by using the card for hotel reservation and renting cars, she asked us if would we use it to get cash and we said no we wouldn't my husband said I use credit cards for me anything I get on a card I pay for it within the 30 day period. The resort got the credit card approved and then borrowed $8000.00 dollars against them. The resort agent also got us approved through Bill Me Later and they borrowed $11000.00 dollars from them in my husband name all this was done with our prior authorization or approval. When they told us that the loan for Wyndham Resort upgrade was approved they had come to us with lots of documents (the contract) congratulating us on upgrading and telling us to initial here and sign here. They did not allow time to read the contract to think about it they kept saying if you don't do this now the prize for the program will be going up and you wont beable to get it for todays price. The agent/agents never went through the contract line by line stating what was on it or what the existing equity loan was that had been put down on the new loan if they had at that point we would have known that there had been money borrowed from another source to make that transaction happen and we would have immediately cancelled out.
0 comments