Military and shareholders OBC no longer combinable soon.

[HaveDogWillTravel]

Just got this email from my CVP 

 

On Jun 15, 2023, at 1:03 PM, 

 

Please note that effective on 8 a.m. PDT on June 29, 2023 for all voyages departing after September 12, 2023, Shareholder and Military Onboard Credits have the following policy changes:

• The Shareholder and Military OBC will no longer be combinable with each other.

• The Military OBC will be non-refundable.

• The Shareholder OBC is currently and will remain non-refundable.

 

 

[Ken the cruiser]

Interesting. Since both my DW and I are retired military and both currently get the military OBC, I guess we know which option we will be opting for. It will be in interesting to see what happens to our 9 existing bookings currently scheduled to set sail after September 12, 2023 through 2025 where both our military and shareholder benefits OBC have already been applied. 🤔

[cr8tiv1]

Did anyone NOT see this coming?  I am very saddened that Princess has decided to make this cutback.  It will not affect me, but definitely will have an impact on many veteran passengers.  Thank you for your service, even though Princess has added you to the discarded pile.

[Guest ldtr]

That has substantially reduced the advantage that Princess has over other lines as far as I am concerned.

 

I wonder if I can claim veterans and my wife the shareholders? Will have to see?

 

I wonder what happens when you have already spent both on excursions.

[Ken the cruiser]

2 minutes ago, ldtr said:

That has substantially reduced the advantage that Princess has over other lines as far as I am concerned.

 

I wonder if I can claim veterans and my wife the shareholders? Will have to see?

 

I wonder what happens when you have already spent both on excursions.

That might work if one person is a veteran and the other person has the Carnival shares in their name.

[Guest ldtr]

Funny that a time when HAL is adding a veterans benefit, Princess is reducing the value.

 

The good thing is that in previous years I would have had 75+ days booked already for periods after the change over dates.  Instead I just have 28.   Instead I have 24 on Oceania, 27 on Hal, 7 on P&O and 7 on Elixir cruises.  May drop one of 2 Princess cruises I have booked after September because there are other options that pencil out better.

[HaveDogWillTravel]

My CVP told me he believes if you’ve got the shareholders applied before the deadline and you also have military benefits applied then you “should” be grandfathered in. 
 

it has always been the case that one person in the cabin can get shareholders and the other person can get military. DH (military) and I (shareholders) have used this dozens of times.  Of course if both are military both would get that. It was only shareholders that was restricted one per cabin. 
 

With the great solo fares the past year or so we have booked me in an aft facing balcony or regular mini suite and booked him in the inside cabin across the hall. Then we could each get shareholders. 
 

 

[Guest ldtr]

13 minutes ago, cr8tiv1 said:

Did anyone NOT see this coming?  I am very saddened that Princess has decided to make this cutback.  It will not affect me, but definitely will have an impact on many veteran passengers.  Thank you for your service, even though Princess has added you to the discarded pile.

I suspect that Princess, in looking at the data, found that those that use both tend not to buy packages.

[cr8tiv1]

I wonder how many veterans will sell their stock now?  Oh, I forgot, the stock is worthless at this time.  

[cruisingrob21]

8 minutes ago, cr8tiv1 said:

I wonder how many veterans will sell their stock now?  Oh, I forgot, the stock is worthless at this time.  

It depends when you purchased.  The shares I bought last year at $10 are up over 50%, but the rest purchased before the pandemic are still in the red 

[Guest ldtr]

12 minutes ago, cr8tiv1 said:

I wonder how many veterans will sell their stock now?  Oh, I forgot, the stock is worthless at this time.  

Not worthless.  I original brought my shares many years ago around $22  sold in the 40's when it because clear that Covid was going to spread outside of China.  Purchased again around 8.  On my original buy made a profit and about 4X the cost in OBC.  On the latest it is up and I already have gotten more in OBC than it cost.  Of course I am also using the shareholders on other CCL owned lines.

 

It is only if Princess is the only CCL line you cruise on where it looses the value for veterans.

 

Will see if we can get both if I have Veterans and my wife has the shares.  

[wallyj]

I think clarification needed regarding combinability, as in if stateroom has one, then the other benefit not allowed?

 

Previous post seems to say if both passengers in cabin have military, they would both get, now cabin cannot get shareholders after September, if only one is ‘vet’ can other passenger get shareholders?

 

 

[HaveDogWillTravel]

2 minutes ago, wallyj said:

I think clarification needed regarding combinability, as in if stateroom has one, then the other benefit not allowed?

 

Previous post seems to say if both passengers in cabin have military, they would both get, now cabin cannot get shareholders after September, if only one is ‘vet’ can other passenger get shareholders?

 

 

Yes the restriction is that the same person can not get both shareholders and military OBC anymore. 
 

Now that I think about it, I’m going to directly ask my CVP if DH can get military and I can get shareholders while booked in the same cabin. This has always been the case and we do it every sailing we share a cabin. 
 

But I’m now wondering if by “no longer combinable” do they mean per cabin or person?  I assumed person as DH used to get both when booked in his own cabin but I will ask to be sure. My CVP has logged off for the day so will most likely hear back tomorrow.  

[wallyj]

Hi @HaveDogWillTravel, yes, I have a friend who sails solo a lot and has always been able to get military and shareholders as it seems your DH was able when he was solo.

 

My assumption is Princess is going to make it per cabin, so if someone in cabin has military, then cabin cannot get shareholders, but please report back when you hear from your CVP.

[sirclean]

" It will be in interesting to see what happens to our 9 existing bookings currently scheduled to set sail after September 12, 2023 through 2025 where both our military and shareholder benefits OBC have already been applied."

 

I was under the impression (maybe by reading an old form) that the shareholder benefit would only be applied within 90 days.  I do remember one of my early attempts to apply shareholder benefits outside of that was denied (though that was pre covid)

 

               "Oh, I forgot, the stock is worthless at this time.   "

Actually, it is near 52 week highs, closing over $16 on Friday (6/15/2023)

 

 

[2 cruises a year]

1 hour ago, cr8tiv1 said:

I wonder how many veterans will sell their stock now?  Oh, I forgot, the stock is worthless at this time.  

Good point, I'm sure that that was part of Princess' calculation.

[2 cruises a year]

1 hour ago, cruisingrob21 said:

It depends when you purchased.  The shares I bought last year at $10 are up over 50%, but the rest purchased before the pandemic are still in the red 

CCL stock has been doing pretty well lately, we are approaching the break even point.  Maybe I shouldn't say anything, might jinx myself.  😁

[sirclean]

3 minutes ago, 2 cruises a year said:

I wonder how many veterans will sell their stock now?  Oh, I forgot, the stock is worthless at this time.  

I will gladly pay the postage to anyone willing to sign over their "worthless" stock to me!!

[2 cruises a year]

8 minutes ago, sirclean said:

" It will be in interesting to see what happens to our 9 existing bookings currently scheduled to set sail after September 12, 2023 through 2025 where both our military and shareholder benefits OBC have already been applied."

 

I was under the impression (maybe by reading an old form) that the shareholder benefit would only be applied within 90 days.  I do remember one of my early attempts to apply shareholder benefits outside of that was denied (though that was pre covid)

 

               "Oh, I forgot, the stock is worthless at this time.   "

Actually, it is near 52 week highs, closing over $16 on Friday (6/15/2023)

 

 

Pre-Covid, you could only apply within 90 day of your voyage.  Basically each quarterly statement.  I believe they didn't want you applying too far out then selling.  Not too likely a scenario though.  When they started requiring pre-payment on pre-booked excursions, they slacked off on the 90 day thing so you could apply your OBC to the excursions more than 90 days out.

[Guest ldtr]

Just now, 2 cruises a year said:

Pre-Covid, you could only apply within 90 day of your voyage.  Basically each quarterly statement.  I believe they didn't want you applying too far out then selling.  Not too likely a scenario though.  When they started requiring pre-payment on pre-booked excursions, they slacked off on the 90 day thing so you could apply your OBC to the excursions more than 90 days out.

Actually they changed the rules when they started requiring you to pay for excursions at time of booking, a couple of years prior to Covid. At that time there were a lot of complaints because people wanted to pay for excursions with OBC and the had to wait. As a result the rules were changed and since then was has been able to get shareholder credit much further out with the only restriction been the annual board authorization.

[2 cruises a year]

1 hour ago, cr8tiv1 said:

I wonder how many veterans will sell their stock now?  Oh, I forgot, the stock is worthless at this time.  

 

12 minutes ago, sirclean said:

I will gladly pay the postage to anyone willing to sign over their "worthless" stock to me!!

The Veterans selling stock was not my quote, you must have cut and pasted, incorrectly quoting me.  I'm content, I am almost at the break even point, and expect to keep on getting better.

Edited June 15, 2023 by 2 cruises a year

[Ken the cruiser]

23 minutes ago, sirclean said:

" It will be in interesting to see what happens to our 9 existing bookings currently scheduled to set sail after September 12, 2023 through 2025 where both our military and shareholder benefits OBC have already been applied."

 

I was under the impression (maybe by reading an old form) that the shareholder benefit would only be applied within 90 days.  I do remember one of my early attempts to apply shareholder benefits outside of that was denied (though that was pre covid)

 

               "Oh, I forgot, the stock is worthless at this time.   "

Actually, it is near 52 week highs, closing over $16 on Friday (6/15/2023)

 

 

We have never had an issue getting the shareholder benefits added to our booking shortly after booking it, usually when they are initially released to the public. 

[Coral]

Honestly - I thought it was odd to have Veterans OBC refundable....... I am all for that benefit but refundable didn't make sense IMO.

 

I am not surprised at all that this change was made. 

[suzyed]

2 hours ago, cr8tiv1 said:

Did anyone NOT see this coming?  I am very saddened that Princess has decided to make this cutback.  It will not affect me, but definitely will have an impact on many veteran passengers.  Thank you for your service, even though Princess has added you to the discarded pile.

And everyone who also has shares will probably sell them....what is the point of keeping the shares.

[suzyed]

2 hours ago, cr8tiv1 said:

I wonder how many veterans will sell their stock now?  Oh, I forgot, the stock is worthless at this time.  

For many, the only worth of the shares was the OBC.