Is there any penalty if you have to cancel a DVC reservation?

[Bertie131]

Either by canceling the ressie completely or by canceling and rebooking at another resort? TIA!

 

[Deb & Bill]

Either by canceling the ressie completely or by canceling and rebooking at another resort? TIA!

It depends. If you cancel 30 days or less, the points used go into Holding and cannot be used except to book something 60 days or less out. And they expire at the end of the UY.

If you cancel the day of the reservation, you lose the points.

If you cancel more than 30 days out, there is no penalty. But if you use fewer points to book the new reservation, you lose those points if you are past your banking date unless you can use them before the end of your UY. And if you can bank them, bank them if you don't need to use them

If you borrowed points to make the first and won't need all the points you had tied up in the first reservation, make sure MS used all banked and borrowed points first and then bank the left over current points if you are still able to bank unless you are going to use them before the end of the UY.

 

[Bertie131]

It depends. If you cancel 30 days or less, the points used go into Holding and cannot be used except to book something 60 days or less out. And they expire at the end of the UY.

If you cancel the day of the reservation, you lose the points.

If you cancel more than 30 days out, there is no penalty. But if you use fewer points to book the new reservation, you lose those points if you are past your banking date unless you can use them before the end of your UY. And if you can bank them, bank them if you don't need to use them

If you borrowed points to make the first and won't need all the points you had tied up in the first reservation, make sure MS used all banked and borrowed points first and then bank the left over current points if you are still able to bank unless you are going to use them before the end of the UY.

Thanks! Great info!