So if you book a cruise, partially on points, and have to cancel, what happens to the points?
I've heard they are no longer DVC points and expire at the end of the use year and they are limited use but what does limit use mean? Do you need to book something through RCI?
Once you make a non-DVC reservation using DVC points, the points used are now "Reservation Points". In the event of a cancellation, the "Reservation Points" will be returned to your account - but can only be used for other non-DVC options, like another cruise, stays in Disney Collection resorts (non-DVC Disney resorts), Concierge Collection or Adventure Collection. Those points have been committed to be used in lieu of cash and must be recouped by a cash reservation at a DVC resort by DVC. They may have already been used by DVC for such a reservation.
They cannot be used for stays at a DVC resort or used within the World Passport Collection (RCI).
Correct. Also, when you book a cruise via DVC, one person must be on points, the others can be either points or cash. You can't mix cash & points for a single passenger.
If all of your points are resale after 3/20/2011, your points are restricted to DVC Resorts & World Collection Exchanges only.
I rented to points to pay for a cruise years ago. It ended up that DH changed jobs and we cancelled the cruise. I was so glad that I hadn't used points to pay.
Due to both the significant risk and the low return, this is the best by far for current owners. Better still is to plan such purchases when buying in and only buying the points needed for DVC only but most of us didn't have such forethought years ago. Also, the cash price is often significantly more than the price you see elsewhere.