One more cancelling consideration. If you are not going to use your points in a given use year, you can bank those points. But the banking deadline is 4 months before the end of your use year. So if your use year is Septemeber, then you must bank by the end of April. That means if after April 30th, I cancel any reservations for a stay between May and August, I will need to find a way to use those points sometime before August 31, because I can no longer bank them.
Another thing to keep in mind is that you can only bank the points once, in the year they are awarded. For example I have an August use year. If I have August 2022 points that are not going to be used I can bank them by March 31, 2023 and then use them by July 31, 2024 (the end of my August 2023 use year). BUT if they are August 2021 points that have been bank once, they will expire July 31, 2023.