I could see the potential for doing this, although, I primarily use miles for upgrades, which, IME yields a better than 1cpm redemption rate.

One question. Some refundable tickets supposedly have fees associated with changes. I did a dummy booking and, while it said "refundable" there was also a note about potential fees. I went to the fare rules and all I was able to see was a $100 fee for a "lost ticket".

Can some of our more seasoned FTers offer any insight into this? It would certainly be a big disappointment to do this and find out there are additional fees which would lessen the value of the credit.

If I ever do decide to use this option, I would like to avoid that scenario.

Thanks!