Originally Posted by
diver858
No. It is the LESSER of $55 and the actual cash you paid if you cancel it
online.
In fact BA allows you to change the ticket online but the $55 would then be actually charged. While you cancel, BA online would take the LESSER amount - in your case it is that $5.60. If your cash portion is $80 for example, then BA system would take $55 and refund you the difference of $25.
When you cancel the avios IMMEDIATELY return to your account.
Better to just X it online and rebook if you see better flights.