Originally Posted by
smartcookie
...What happens if I book a flight with each FFC and cancel it within 24 hours? Where does the refund go?...
It remains in form of a FFC, I believe. You have to be careful here - if within 24 hours, I believe you'll get full credit back. Anything longer, and it might be for value of new ticket. I'm not sure about this, but thinking like UA, that might be the way it goes. Maybe someone else has experience cancelling a flight beyond 24 hours for a ticket with less value than original FFC.