We've only been members since July, so I haven't quite got the hang of the reservations. How close can you be to a reserved travel date to cancel a reservation and not lose the points or be penalized? Here's the situation... We (self, DH and DS)joined DVC in July, buying 200 points at BWV. When sellout seemed imminent we bought another 100 points there. My first trip as a member was this Jan 2-5, just me and DS, as sort of a bonding thing. We had a GREAT time. Because we had not decided to go on the trip 'til October, we had to really jerry-rig the ressies, ending up with 1 nite at OKW and 2 nites at BWV. We have a family trip reserved for late May and a short trip (just me and DH) in November for the Food & Wine festival. We had SUCH a good trip in January (the teenager actually TALKED!!!), not only because of WDW, but family time away from his buddies, that I'd like to plan another trip next January. It should be easier to plan, because DS is starting college in the fall and will have a much longer Christmas break - as much as 6 weeks, so we could be very flexible. When I asked him about it, though, he sort of blew it off. I guess he thinks he'll be too old to want to go to WDW. I wouldn't want to push him, but I really suspect as the time gets closer he'll change his mind and wish he'd said yes.And by then, it may be too late to get a room. So, here's the deal.. if I make a reservation for 1st week of January and I find he REALLY doesn't want to go, how late could I cancel without losing the points? Thanks all.