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I booked two flights with my RR points, Plans might be changing, and I might need to cancel and or change the name of the passenger. Can this be done without loosing the points?
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To change the name you'll need to cancel the reservation and rebook. When you cancel a points reservation the points return to your account and can be reused to book travel for anyone. If no name change is being made you can cancel or change the flight, not much difference unless you purchased EarlyBird checkin, then you should change the flight so as not to lose EarlyBird. You'll lose EB if you cancel.
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If you cancell and the points are returned do they have to be used with in the year or can they be used anytime.
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Anytime. The usual points/account inactivity expiration rules apply, but no rules specific to the refunded points.