Reservation points may be used to book and stay during the last 4 months of your Use Year (since they are already committed for that use) and they will incur another $95 fee for any reservation made using the points. They will expire at the end of the Use Year in which they reside. They cannot be banked, but if they were not already banked points I believe they can still be transferred - retaining their original Reservation and expiration status (several have reported being able to transfer "Reservation" points).