I have been successful 2 times now (the only times I have tried this) in cancelling a reservation while holding the new one I found online. My sisters are on the contracts with me as co-owners and I was trying to help one of my sisters avoid a split stay. With her permission, I logged into her account on one pc and found the room she wanted. While that reservation was being held for the 20 minutes they allow you to complete it (I got to the part where I was to pick which contracts to use as we have several), I logged into my own account on another pc. I cancelled the existing reservation. Then I refreshed the page on my sisters account where the reservation was being held. The points were then there for reuse on the new reservation. I cannot guarantee this will work everytime, and if you can call instead I would. However it was a hard to get room and ms was closed when I did this. You would obviously also have to have access to 2 logins for the same membership and 2 ways to access the
dvc member site at the same time.

Good luck.