Originally Posted by
NoStressHere
Thought process maybe...
If you transfer miles to SWA, it is 1:1.
But if you book via the portal you get either 1.25 or 1.50. When you cancel, they are then a credit on the SWA account. So, you then have $$ at a better rate for future flights.
Am I doing this right?
Not exactly. Because most taxes are excluded for points bookings, one point almost always saves you more than 1 cent. If the cash fare is very low, you can exceed 1.5 cents per point in savings.
Bottom line, considering refundability the points are a better deal IMHO.