Seeing all the trouble that people who have transferred from other airlines are having with the hold option it seems to me that AA should consider offering both options. AA offered hold before other airlines offered refunds and many of us much prefer it but it is causing a lot of ill will. If AA continued to offer the hold option but also gave refunds for cancellation within 24 hours of purchase for people who did not exercise the hold option it would not cause them much more trouble and everyone would be happier.