Future cruise deposits valid only one year now

[pompeii]

Just bought a couple of fcd’s and was surprised to see that they’ll be refunded if not used in one year. Used to be two years. When did that change?

[startedwithamouse]

16 minutes ago, pompeii said:

Just bought a couple of fcd’s and was surprised to see that they’ll be refunded if not used in one year. Used to be two years. When did that change?

Not sure, ours from July were only a year. 

[cr8tiv1]

Change happened post pandemic after (most) everyone who bought them before the shut down...expired during the shut down.  I am not sure what the extension time is now, but Princess is "expecting" everyone to cruise once a year.

 

The good news is that you can now have someone on a ship, purchase FCDs for you; IF they are willing to charge it to their credit card and they have your Captain Circle Number.  

 

Bought March 23 / good for 2 years

Bought May 23 / good for 1 year

[SCX22]

Any FCD purchased on or after April 5, 2023 will have a validity of one year.  I was on the Sky Princess when the change happened and purchased some right before the change with two year validity.  

[pompeii]

Also, the captain’s circle rep says you can’t call to extend them. Use within 12 months or it will be automatically refunded. 

[dreaminofcruisin]

Note that you have to use them to 'book' within a year, not to sail within a year.

[trvlwrld]

Dreaminofcruisin is right…booking within a year…cruise whenever…you can even move it over to another cruise farther out as long as it is attached to a booking number…currently have one that is 3 years old attached to a booking

[pompeii]

2 hours ago, dreaminofcruisin said:

Note that you have to use them to 'book' within a year, not to sail within a year.

Yes, use means use as a deposit on a cruise. I realize they want us to cruise more often but I’m not sure this new rule is ultimately going to have that result. 

[Steelers36]

14 hours ago, pompeii said:

Just bought a couple of fcd’s and was surprised to see that they’ll be refunded if not used in one year. Used to be two years. When did that change?

Sorry - not over a year ago.  Early this year.

Edited October 5, 2023 by Steelers36

[Coral]

14 hours ago, pompeii said:

Also, the captain’s circle rep says you can’t call to extend them. Use within 12 months or it will be automatically refunded. 

I was told the opposite in May. Who knows which is true.

[BamaVol]

Slightly off topic.

 

I used one last week and the Princess rep my TA was speaking with took the $100 and split it between deposit and OBC 50/50.  It took calls to 2 more reps to get it handled properly ($100 deposit with $50 bonus OBC).

 

I acquired it in September and the lady at the desk was very clear about the 1 year expiration.

[Steelers36]

Perhaps it is another example of bringing down the hammer on customer base.  When it was changed, it seemed common that one could extend the date - same as when it was two years.

[that]

51 minutes ago, BamaVol said:

Slightly off topic.

 

I used one last week and the Princess rep my TA was speaking with took the $100 and split it between deposit and OBC 50/50.  It took calls to 2 more reps to get it handled properly ($100 deposit with $50 bonus OBC).

 

I acquired it in September and the lady at the desk was very clear about the 1 year expiration.

Hmmmmmm

isn’t this 

the new TA 

[pandadad]

i just purchased on a cruise last month and was told by the onboard future cruise rep no problem to have extended for another year - just call Princess.  

[BamaVol]

1 hour ago, that said:

Hmmmmmm

isn’t this 

the new TA 

She was like a bulldog. She kept asking to be transferred until she got it resolved. I’m liking the lady and I think it’s gonna be a long relationship. 

[pompeii]

I emailed my pvp and, unlike the future cruise rep, she says you can request an additional year extension. But keep an eye on it so it isn’t automatically refunded. 
If it gets close to 

Edited October 6, 2023 by pompeii

[XBGuy]

Are there any accountants out there?  I’m not, and I didn’t sleep in a Holiday Inn Express last night.

 

I think that FCDs would be carried on Princess’ books as liabilities.  Could it be that the corporate finance types wanted to manage Princess’ liabilities differently?  
 

Again, I am not that knowledgeable and will yield to superior expertise.

Edited October 6, 2023 by XBGuy

[BamaVol]

11 minutes ago, XBGuy said:

Are there any accountants out there?  I’m not, and I didn’t sleep in a Holiday Inn Express last night.

 

I think that FCDs would be carried on Princess’ books as liabilities.  Could it be that the corporate finance types wanted to manage Princess’ liabilities differently?  
 

Again, I am not that knowledgeable and will yield to superior expertise.

I am a retired accountant.  You are correct that an FCD is carried on the balance sheet as a liability.  It is a debt owed, after all.  The entry would debit cash and credit FCD Payables (I’m making up GL account names).

 

There is no inherent value in removing the liability itself.  However, if you want to convert them to sales, reducing the validity period might force that.  But it might lead to increased refunds as well.  The only other thing I can imagine is a loan covenant somewhere that isn’t being met.