Hi all, experienced cruiser here (10 cruises, 9 with NCL). When you purchase cruise next you have 4 years to book a cruise. (we had friends who went over the 4 years but the credits were still honored). Points on a NCL credit card are good for 4 years as well. BUT when you receive future cruise credits for a price drop they expire after one year. (yes it said it in the e-mail). Anyway, be sure to read all terms carefully. We waited 1 1/2 years to book our next cruise and lost out on $611.00.