Just spoke with a CM after an hour plus wait in regards to the ticket cancellation policy. They are non-refundable and non transferrable but she said every ticket holds value and typically they will work with you to give you a credit from the sounds of it.
Wanted to share my experience using that credit. I canceled Boo Bash in Sept 21 due to COVID. I prepped for getting MNSSHP tickets by choosing my dates, having the confirmation code from my Boo Bash ticket, the phone call reference number from the cancelation, the card that bought the original ticket, and a gift card for any overage.
My husband called first thing yesterday morning - 7am until 8:15. After that time on hold, he had to go to work.
I called yesterday at 3:26pm. I was on hold for 25 minutes, before I got to a castember. He took all my information, worked with me for 10 minutes, then told me that I needed to talk to ticketing services. After an hour on hold, someone answered and said "Annual Passholder Services" I explained that I needed ticketing services. She tried to get the credit applied for another 15 minutes, then put me back on hold for escalated ticketing services (she used a slightly different name that I've got written down somewhere). I sat on hold until the told time of my phone call hit 3 hours, then gave up.
At 9:45pm, my husband tried again. He was on hold for 15 minutes. At that point a cast member got on the phone, confirmed he needed a specialist, and took our information for a call back. We were told the call back would come in '40 minutes to 2 hours". The call back came 20 minutes later. That was *finally* the right person to talk to. After about 20 minutes our tickets were secured and showing up in our My Disney Experience.
We bought 2 nights of MNSSHP, so there was an additional cost over the credit which we paid with a gift card. The castmember repeated that if the cost was under we would have lost that amount.
So. Yes, we did get to use the credit. However, our family spent over 4 hours on the phone to do so. Maybe we could have waited a couple of weeks, been transferred with no waits, and still gotten our dates. Maybe. I keep circling back to that 4 hours of wasted phone call time. It really makes me think that getting a credit isn't all it's cracked up to be. In the future I'll only buy a ticket if I'm 110% sure I can make it, because the credit is better than nothing but still not a great option.