A few questions

[PookaJean]

I have looked around but cannot seem to find the info I need. If I make a reservation and then need to cancel, what happens?
Is there a time period cut off as to when you can cancel and what happens to the points? What if those points were banked points? Also if you bank 08 points, you have to use them in 09, is that correct?

 

[DVC Mike]

If you cancel a reservation for a DVC resort 31 or more days prior to check-in, all of the points used to make the reservation will be restored to your account.

If you cancel a reservation for a DVC resort between 30 and 1 days prior to check-in, all of the points used to make the reservation will be placed in the Holding Account. Holding account points may not be banked or borrowed, and will expire at the end of your current Use Year if they aren’t used, and must be used within 60 days.

If you cancel a reservation for a DVC resort on the check-in date, all of the points used to make the reservation will be forfeited.

 

[DebbieB]

If you cancel a reservation for a DVC resort 31 or more days prior to check-in, all of the points used to make the reservation will be restored to your account.

If you cancel a reservation for a DVC resort between 30 and 1 days prior to check-in, all of the points used to make the reservation will be placed in the Holding Account. Holding account points may not be banked or borrowed, and will expire at the end of your current Use Year if they aren’t used, and must be used within 60 days.
If you cancel a reservation for a DVC resort on the check-in date, all of the points used to make the reservation will be forfeited.

Holding Account points can only be used to make a reservation 60 days or less before the new arrival date and expire at the end of the use year. There's no time limit after the reservation is cancelled (up to the end of your use year).

Any borrowed points used for the reservation remain in the use year they were borrowed into, they don't go back to their original year.