Hi,
I did a quick search but couldn't find a clear answer for this.
Lets say I booked a hotel using points. They get deducted from my account. Prior to the cancellation deadline (lets say it was 3 days prior to arrival) I cancel my reservation.
What happens with my points? Do they come back to my account? If so, how fast?
As long as you meet any cancellation requirements, you get all the points back without any penalty and, if my experience, frequently within minutes. I think the fine print somewhere suggests it might be days and there might be circumstances where that is the case, but my on-line (or Diamond Desk) cancllations have happened at electronic speeds.