What do the 'approved', 'pending', and 'cancelled' statuses mean regarding my points?

What do the 'approved', 'pending', and 'cancelled' statuses mean regarding my points?

Approved: These points can be redeemed on rewards immediately 
Pending: These points are needed to be verified before you can redeem them. This typically applies to purchases and referrals 
Cancelled: These points will not be added to your account. For example, this will happen if you cancel a purchase (the points will change from pending to cancelled)