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Find Out a Cruise Line's Cancellation Date Policy and Try Booking During That Time

To get steep discounts on cruises, you need to either book while you're still on the ship or book at the very last minute. Doing the latter is a little riskier, but the rewards can be worth it. A good practice is to call around and inquire about cancellation policies. Once you know when the cutoff date is, call or check online during the cutoff date to snag the best deals.

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Cruises will slash prices during this time as people drop out and they try and fill up their cabins. However, you might want to try doing this with a couple of different cruise lines since there's always a chance a ship won't have many people drop out.