Originally Posted by
NYC Flyer
I believe the distinction between “flexible” and “fully flexible” is the ability to refund to the original form of payment.
Nope. Fully flexible fares just have no advance purchase requirements, while Flexible fares often have them (so if you make close in changes you will likely be subject to fare differences). Most Flexible fares are actually refundable without fee, but you can check fares rules just to be sure. Any Flexible fares that have fee for refund will have it listed in the Penalties section of fare rules.