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How The Cancellation Credit Works


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For those of you that may have been confused like me... Princess sent you an email. In that email it says "Please let us know your preference through this easy-to-use online form."

 

Click that link, and you can see that your options are below.

 

Your Departure Date in 2020 Option 1: Higher Value Option 2: Lower Value March 12 - March 25 "100% refund as future cruise credit + 125% bonus future cruise credit" "100% refund + 100% future cruise credit " March 26 - April 8th "100% refund as future cruise credit + 75% bonus future cruise credit" "100% refund + 50% future cruise credit " April 9th - May 10th "100% refund as future cruise credit + 50% bonus future cruise credit" "100% refund + 25% future cruise credit"

 

Example for the dates of cruise cancellation March 12 - March 25:

Under option 1, if your cruise initially cost $1,000, that $1,000 will be put toward a Future Cruise Credit. On top of that, Princess will give you $1,250 (125%) toward your future cruise for a total of $2,250 in Future Cruise Credit.

 

Under option 2, if your cruise initially cost $1,000, that $1,000 will be refunded back to you. On top of that, they will give you $1,000 (100%) toward your future cruise for a total of $2,000 in Future Cruise Credit.

 

In this scenario, option 1 gives you $250 more credit. For me, option 2 is more appealing as it doesn't hold onto my initial $1,000.

 

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2 minutes ago, travelhound said:

My email didn't break it out that way

 It said 225% FCC. So, I'm assuming  that means your $1000 is worth $2250.

 

Still, we took option 2.

 

Fair enough, I just went by the chart. Either way, it's a nice offer. I would have taken option 2 also :)

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19 minutes ago, Marbel87 said:

For those of you that may have been confused like me... Princess sent you an email. In that email it says "Please let us know your preference through this easy-to-use online form."

 

Click that link, and you can see that your options are below.

 

Your Departure Date in 2020 Option 1: Higher Value Option 2: Lower Value March 12 - March 25 "100% refund as future cruise credit + 125% bonus future cruise credit" "100% refund + 100% future cruise credit " March 26 - April 8th "100% refund as future cruise credit + 75% bonus future cruise credit" "100% refund + 50% future cruise credit " April 9th - May 10th "100% refund as future cruise credit + 50% bonus future cruise credit" "100% refund + 25% future cruise credit"

 

Example for the dates of cruise cancellation March 12 - March 25:

Under option 1, if your cruise initially cost $1,000, that $1,000 will be put toward a Future Cruise Credit. On top of that, Princess will give you $1,250 (125%) toward your future cruise for a total of $2,250 in Future Cruise Credit.

 

Under option 2, if your cruise initially cost $1,000, that $1,000 will be refunded back to you. On top of that, they will give you $1,000 (100%) toward your future cruise for a total of $2,000 in Future Cruise Credit.

 

In this scenario, option 1 gives you $250 more credit. For me, option 2 is more appealing as it doesn't hold onto my initial $1,000.

 

 

The question is do you think the same Princess will exist 90 days from now and will you actually cruise again anytime on Princess.   

 

Seem like them going bankrupt should be low, second I most certainly will cruise again, I'd take the future IOU from Princess,  25% ain't trump change.

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5 minutes ago, chipmaster said:

 

The question is do you think the same Princess will exist 90 days from now and will you actually cruise again anytime on Princess.   

 

Seem like them going bankrupt should be low, second I most certainly will cruise again, I'd take the future IOU from Princess,  25% ain't trump change.

I think that Princess requires many accolades for what they have done. Doe anyone know if there is a cut-off date for using the FCC.

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We picked the second option for two reasons. We already have a RCCL cruise booked for next year that is better than anything Princess has next year. We can only go when my dd is on break. Second, who knows what will happen to the cruise industry in the near term and I'd rather have the refund. The credit is good until May 2022, so maybe we'll use it for that spring break.

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18 minutes ago, smithmlmx said:

I think that Princess requires many accolades for what they have done. Doe anyone know if there is a cut-off date for using the FCC.

 

Per the email I received from Princess:

"We hope you will stick with us by selecting Option 1, and give our team a chance to shine at a later date by transferring money paid and accepting a significantly higher value future cruise credit that can be used on any voyage through May 1, 2022."

 

Full email from princess below:

Dear ,

Recognizing our responsibility to our guests, our crew and the global community, and after very serious consideration of the evolving COVID-19 situation, Princess Cruises has made the difficult decision to voluntarily and temporarily pause our global ship operations for 60 days, effective immediately through May 11, 2020.

While we know you were anticipating sailing with us, we apologize and sincerely share in your disappointment at hearing this news. Please watch this video I recorded last night which provides more information and the rationale behind the decision.

This decision was not made easily, but following on the heels of the World Health Organization officially classifying the COVID-19 outbreak as a global pandemic, with the virus now present in almost 115 countries and regions, we felt it was our duty as a global partner.

We hope you will stick with us by selecting Option 1, and give our team a chance to shine at a later date by transferring money paid and accepting a significantly higher value future cruise credit that can be used on any voyage through May 1, 2022. For some, choosing the future cruise credit may not be financially possible, so we have Option 2 that is a combination of a refund and future cruise credit at lower value.

Your Departure Date In 2020 Option 1: Transfer Money Paid + Bonus Future Cruise Credit (higher value) Option 2: Refund + Future Cruise Credit (lower value)
March 12 - March 25 225% future cruise credit 100% refund + 100% future cruise credit
March 26 - April 8th 175% future cruise credit 100% refund + 50% future cruise credit
April 9th – May 10th 150% future cruise credit 100% refund + 25% future cruise credit

Please let us know your preference through this easy-to-use online form.

We appreciate your loyalty and look forward to welcoming you onboard.

As we embark on the immense task to pause service of our fleet of 18 ships, our goal is to reset the environmental conditions onboard, incorporating all the learnings from the world’s public health experts like the World Health Organization and U.S. Centers for Disease Control and Prevention. We will also use this time to refocus our attention on providing the best service and experience possible for you.

With your support, we will emerge from this time of trial even stronger. We look forward to serving you while connecting the world for years to come.

Thank you for your understanding, patience and ongoing support.

Sincerely,
Jan Swartz
Jan Swartz
President
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I'm torn between option one and two.  The cruise that was just canceled was a smoking deal for what we got ... thus, the difference between 75% and 50% is not that great.  I do have quite a few Princess cruises booked out in the future so I could apply the 175% towards one or even two of those ... but a bird in the hand!!  I am really not a good decision maker ... 

 

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My cruise isn't until Oct; so doubt this offer will be extended that long.  I would take option 1.  Don't need the money so may as well roll the dice and get more credit

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It’s such a tough decision!  A lot depends on your age and health. I’m 68, and with the proposed age and health restrictions, option #2 worked best for me. On the other hand, a friend I cruise with is younger, and as a CPA, was able to analyze Carnival’s financial statements. He decided that Carnival was in great financial condition, and chose option #1. 

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1 hour ago, healthworker said:

Supposed to cruise March 14. Cancelled and asked for fcc Friday when they announced new policy  
am I entitled to refund as well,ie option 2 if I cancelled already last week?  Thanks if anyone has this answer!

Please read the Princess notice.  Your question is answered there.

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2 hours ago, koolforkatz said:

Regarding the FCC - does anyone know if the amount you receive will be based on the overall price of your cruise or the price minus port fees and taxes? 

 

I'd like to know this also 🙂

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3 hours ago, koolforkatz said:

Regarding the FCC - does anyone know if the amount you receive will be based on the overall price of your cruise or the price minus port fees and taxes? 

My FCCs were minus port fees and taxes.

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6 hours ago, Cruise Raider said:

I'm torn between option one and two.  The cruise that was just canceled was a smoking deal for what we got ... thus, the difference between 75% and 50% is not that great.  I do have quite a few Princess cruises booked out in the future so I could apply the 175% towards one or even two of those ... but a bird in the hand!!  I am really not a good decision maker ... 

 

 

From a financial adviser point of view, Option 2.

Premium offered for option 1 is not enough for the risks you are taking:

(not being able to use up credits in timeframe given especially if ships/itin of your choosing may not be available)

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7 hours ago, Marbel87 said:

For those of you that may have been confused like me... Princess sent you an email. In that email it says "Please let us know your preference through this easy-to-use online form."

 

Click that link, and you can see that your options are below.

 

Your Departure Date in 2020 Option 1: Higher Value Option 2: Lower Value March 12 - March 25 "100% refund as future cruise credit + 125% bonus future cruise credit" "100% refund + 100% future cruise credit " March 26 - April 8th "100% refund as future cruise credit + 75% bonus future cruise credit" "100% refund + 50% future cruise credit " April 9th - May 10th "100% refund as future cruise credit + 50% bonus future cruise credit" "100% refund + 25% future cruise credit"

 

Example for the dates of cruise cancellation March 12 - March 25:

Under option 1, if your cruise initially cost $1,000, that $1,000 will be put toward a Future Cruise Credit. On top of that, Princess will give you $1,250 (125%) toward your future cruise for a total of $2,250 in Future Cruise Credit.

 

Under option 2, if your cruise initially cost $1,000, that $1,000 will be refunded back to you. On top of that, they will give you $1,000 (100%) toward your future cruise for a total of $2,000 in Future Cruise Credit.

 

In this scenario, option 1 gives you $250 more credit. For me, option 2 is more appealing as it doesn't hold onto my initial $1,000.

 

I never got an email.

went online anyways to fill in form.

 

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Has anyone tried to get your CASH back via a credit card chargeback if u really don't want a FCC/IOU.

 

I believe visa gives chargeback credits within 120 days of charge if you did not receive the product or service you paid for....or maybe there is some fine print legalise that allows them to collect your cash, not provide the cruise you paid for, and then give you a perhaps worthless IOU.

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10 hours ago, healthworker said:

Supposed to cruise March 14. Cancelled and asked for fcc Friday when they announced new policy  
am I entitled to refund as well,ie option 2 if I cancelled already last week?  Thanks if anyone has this answer!

Hoping you get a REAL answer to this. Hope it applies to your situation. Let us know how it works out. 

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5 hours ago, remydiva said:

I never got an email.

went online anyways to fill in form.

 

 

Was your cruise sitting with a travel agent or Princess? Our was with a TA and received the email from them, and never heard anything from Princess.

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5 hours ago, hal2008 said:

 

From a financial adviser point of view, Option 2.

Premium offered for option 1 is not enough for the risks you are taking:

(not being able to use up credits in timeframe given especially if ships/itin of your choosing may not be available)

 

I agree with you and that's what we did. I believe part of the decision, and only a part is how much is that 25% extra worth. In our case, it was $360 each and that was not enough for us to want park a FCC of around $4300 for the next two years as have no idea what the future brings and we do't want to risk losing our original cruise costs if we were unable to use it. We will just apply it to the Colonial Cruise we have booked for next July and even then, we are not going to apply it until final payment.

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