RCCL Bank of America redeeming points for free cruise

[Rick2594]

I  have enough points (125,000) to redeem for a 7-night Caribbean cruise.  Looking to book the Allure in Nov, 2019.  Currently the cost for an Oceanview balcony is only about $100 more than the minimum available Oceanview cabin.  I'd like to book the balcony so my question is do I have to redeem the points now in order to lock in that deal?  If I wait to redeem the points and the price of the Oceanview cabin decreases, would I only get credit for the cost of that cabin as of that time, or does it go by when I booked the cruise?  From what I can tell it goes by when I redeem.  My concern with redeeming now is the points are non-refundable so if something happens and I need to cancel the cruise, I'd lose all those points.  Never redeemed points before and appreciate any assistance. 

[Clarea]

You have to book the cruise first and then apply the redemption to the booked cruise.

 

The credit is based on the minimum available OV stateroom at the time you redeem.