We accepted a 125% FCC for the cancellation. Should I be worried about RCL filing bankruptcy before I can use it?

[javalsu]

Title says it all. We had booked a suite so it's a significant amount of money we have sitting in the hands of RCL. 

[Fouremco]

[dabear]

maybe not

 

[Fabulous Four]

I wonder the same thing. I am booked on April 21 cruise..which is still sailing..but I doubt it will leave port. Plus now you can’t apply to a cruise already booked. We have a TA in Oct 2021. 

Edited March 20, 2020 by Fabulous Four

[cruiserchuck]

If you have the choice to change it to a cash refund, I would.

[prish]

We’re booked on Apex May 10 which will surely be cancelled and are debating whether to ask for a refund or take the 125% FCC. We don’t have any cruises booked for 2021 and would like to do this years itinerary. 

[Denny01]

Making financial suggestions And especially listening to them on this type of forum is Not the best idea. I can only say what I’ll do. 
 

if offered a 125% FCC or a full refund I’ll take the FCC. Once the Market starts to show a Real recovery, I’ll buy RCL stock. 
 

no real idea if those two things are smart even For Me to do but that’s my plan. Don’t take any advice from me. I’m just putting out my plans. 
 

den

[lostchild]

Isn't it too late to worry about something that you don't have control of?   

[Fouremco]

4 minutes ago, lostchild said:

Isn't it too late to worry about something that you don't have control of?   

OP still has the option of requesting a refund in lieu of the 125% FCC. That decision is very much under his control at this time.

[Ms Jo UK]

48 minutes ago, Fabulous Four said:

I wonder the same thing. I am booked on April 21 cruise..which is still sailing..but I doubt it will leave port. Plus now you can’t apply to a cruise already booked. We have a TA in Oct 2021. 

When did they stop allowing you to apply FCC to already booked cruises?

[lostchild]

2 minutes ago, Fouremco said:

OP still has the option of requesting a refund in lieu of the 125% FCC. That decision is very much under his control at this time.

 

I thought he said he already accepted.  If not... just take the refund... 

[Fouremco]

Just now, lostchild said:

 

I thought he said he already accepted.  If not... just take the refund... 

Under the current policy, when Celebrity cancels you are issued an FCC, but you can subsequently request a refund. I suggest that you go to the website for full details, but from Q&A's:

 

 Q: After I receive my 125% Future Cruise Credit (FCC), can I choose to change to the 100% refund?

A: Yes. All guests have until 12/31/21 to decide to change their FCC to a refund.

[lostchild]

21 minutes ago, Fouremco said:

Under the current policy, when Celebrity cancels you are issued an FCC, but you can subsequently request a refund. I suggest that you go to the website for full details, but from Q&A's:

 

 Q: After I receive my 125% Future Cruise Credit (FCC), can I choose to change to the 100% refund?

A: Yes. All guests have until 12/31/21 to decide to change their FCC to a refund.

 

That nice of them.  Can I have my 25% FCC changed to a refund? 😛

[Clock_8]

I hope they make it, DW and I love our Celebrity cruises. My biggest concern is RCL is a Liberian company sailing foreign flagged vessels staffed by non-USA citizens, so not sure if the government will be in a hurry to rescue them. I don't know how bankruptcy would work, would creditors really want to repo a bunch of cruise ships? As Denny01 stated, don't listen to me. I think taking FCC helps the company. We are scheduled to sail in late May, getting back to port just in time to catch the Cubs/Cardinals games in London. Everything was suposed to be great.  Doubt we will be able to get a flight, much less be able to board the Silhouette. We are not into it for suite money, but still expensive for us. Would much rather be offered 14 days in a deck 6 veranda with all 4 perks (what we paid for), rather than a $FCC. Anyway, what I do know is that there are a substantial number of people in the world right now who would love to have this as a problem. Hope everything works out!

[jonthomas]

RCI and others may file for bankruptcy by the fall. Then there will be no refunds. I don't have any hard data for this. Just doing some reading and research. It is something to consider. No not 

[Denny01]

I agree w Clock_8. RCL would do a lot better with FCC’s since they wouldn’t lose so much cash now. But that doesn’t mean we should all do it. I’ll do it because I think a 25% return on my money is fantastic considering what my IRAs are doing. 
 

den

[Fouremco]

4 minutes ago, lostchild said:

 

That nice of them.  Can I have my 25% FCC changed to a refund? 😛

Not if you were the one cancelling.

[DYKWIA]

Can you afford to lose the money without undue hardship or concern?  If not, I'd get the cash

[39august]

I'm going to be very, very unhappy if I can't use FCC on one of 6 already booked cruises! That is just not right. I guess worst case I can use my cancel for any reason cruise line travel insurance and use that FCC for an existing booking. I have done this before, so I believe I can use that 75% insurance credit on one of those existing  cruises. Better than zip I guess.  No way to avoid the FCC only at this point for my May 13 cruises. Just hoping X cancels for another 30 days after April 11 to cover my May 2 cruise for which I will definitely take the refund!

[Loracpin2]

2 hours ago, prish said:

We’re booked on Apex May 10 which will surely be cancelled and are debating whether to ask for a refund or take the 125% FCC. We don’t have any cruises booked for 2021 and would like to do this years itinerary. 

There is an old saying.. "a bird in the hand is worth 2 in the bush." If you take the refund,  you are guaranteed to recoup what you paid for the cruise. If you take the FCC, with the need for the cruise lines to recoup their billions of loss, there is no guarantee you would be able to rebook a cruise similar to what you cancelled even with the increase to 125%.  

[Pickels]

2 hours ago, Fouremco said:

Under the current policy, when Celebrity cancels you are issued an FCC, but you can subsequently request a refund. I suggest that you go to the website for full details, but from Q&A's:

 

 Q: After I receive my 125% Future Cruise Credit (FCC), can I choose to change to the 100% refund?

A: Yes. All guests have until 12/31/21 to decide to change their FCC to a refund.

ONLY if the cruise line cancels the cruise; if you decided to cancel, no refund for you, only a FCC.

[Fouremco]

2 hours ago, Fouremco said:

OP still has the option of requesting a refund in lieu of the 125% FCC. That decision is very much under his control at this time.

 

2 hours ago, Fouremco said:

Under the current policy, when Celebrity cancels you are issued an FCC, but you can subsequently request a refund. I suggest that you go to the website for full details, but from Q&A's:

 

 Q: After I receive my 125% Future Cruise Credit (FCC), can I choose to change to the 100% refund?

A: Yes. All guests have until 12/31/21 to decide to change their FCC to a refund.

 

1 hour ago, Fouremco said:

Not if you were the one cancelling.

 

7 minutes ago, Pickels said:

ONLY if the cruise line cancels the cruise; if you decided to cancel, no refund for you, only a FCC.

Yup, that's what I said.

[Nachosdelux]

125% of zero = zero

 

take the cash.

[bEwAbG]

4 minutes ago, Nachosdelux said:

take the cash

 

And run!  

 

I don't know if Celebrity will make it or not.  If they go bankrupt, any company that emerges wouldn't have to honor the FCC. I'd take the cash if it was an option.  I wonder if their "cruise protection" products would still pay out or if those would also be worth nothing.  I guess it depends on how those instruments are structured but I always assumed it was some sort of self-insurance backed by the company only instead of actual insurance.

 

There is a long story in today's Washington Post about how the cruise line handled the crisis.  The few hundred comments after the story accurately reflect the overwhelming sentiment that no U.S. taxpayer money should go to bail out these foreign-owned companies.  I think the only one who has lined up behind that idea is Trump, mainly because of his friendship with several of the major players.

[WonderMan3]

2 hours ago, Clock_8 said:

I hope they make it, DW and I love our Celebrity cruises. My biggest concern is RCL is a Liberian company sailing foreign flagged vessels staffed by non-USA citizens, so not sure if the government will be in a hurry to rescue them. I don't know how bankruptcy would work, would creditors really want to repo a bunch of cruise ships? As Denny01 stated, don't listen to me. I think taking FCC helps the company. We are scheduled to sail in late May, getting back to port just in time to catch the Cubs/Cardinals games in London. Everything was suposed to be great.  Doubt we will be able to get a flight, much less be able to board the Silhouette. We are not into it for suite money, but still expensive for us. Would much rather be offered 14 days in a deck 6 veranda with all 4 perks (what we paid for), rather than a $FCC. Anyway, what I do know is that there are a substantial number of people in the world right now who would love to have this as a problem. Hope everything works out!

 

No, our government should not be bailing out companies who choose to operate basically everything out of the U.S. but register everything elsewhere to skirt a lot of laws and regulations.