Southwest Flight Price Drop: How to Rebook and Get Travel Funds Back

Southwest Airlines stands alone among major U.S. carriers with a policy that frequent flyers love: no change fees, ever, on any fare. If the price of your flight drops after you book, you can cancel and rebook at the lower fare without paying a penalty. The difference goes straight back to you as travel funds. It sounds almost too good to be true, but it really is that simple.

This makes Southwest one of the most rewarding airlines to track prices after booking. Every dollar a fare drops is a dollar you can reclaim. Here is everything you need to know about how the process works, what to watch out for, and how to maximize your savings.

Why Southwest's policy is so generous

Most airlines charge change fees on their cheapest fares or restrict rebooking to higher fare classes. Southwest takes a different approach. As outlined in our guide to airline refund policies, carriers like United, Delta, and American all have varying levels of restrictions depending on the fare you purchase. Southwest has none.

Every Southwest ticket, from the cheapest Wanna Get Away fare to the most expensive Business Select, can be canceled without a fee. The only difference is how you get the money back, which depends on the fare class you originally booked.

How refunds work by fare class

Southwest offers four fare types, and the refund method depends on which one you purchased:

• Wanna Get Away — The lowest fare. When you cancel, the value is returned as travel funds tied to the original passenger's name. These funds can be used for future Southwest bookings.
• Wanna Get Away Plus — Similar to Wanna Get Away, but travel funds are transferable to another person. This is a big perk if you are not sure you will use them yourself.
• Anytime — A fully refundable fare. When you cancel, you get the difference back to your original payment method (credit card, debit card, etc.).
• Business Select — Also fully refundable to your original payment method, with the added perks of priority boarding and a premium drink.

For most leisure travelers booking Wanna Get Away fares, the refund comes as travel funds rather than cash. That is still a great deal since Southwest flights are something most travelers book regularly, and those funds are easy to use on future trips.

Step-by-step: how to rebook a Southwest flight at a lower price

The process takes just a few minutes:

1. Check the current price. Log in to Southwest.com or the Southwest app and search for the same flight you already booked. Note the current fare.
2. Cancel your existing reservation. Go to "My Trips," pull up your booking, and click "Cancel Flight." The value of your ticket will immediately convert to travel funds (for Wanna Get Away fares) or refund to your card (for Anytime and Business Select).
3. Rebook at the lower price. Search for the same flight again and book it at the new, lower price. Apply your travel funds during checkout if applicable.
4. Keep the difference. The leftover travel funds remain in your account for future use. They do not disappear.

Alternatively, instead of canceling first, you can modify your existing reservation directly. Go to "My Trips," select "Change Flight," and search for the same flight. If the price is lower, Southwest will show you the credit amount. This method is slightly faster and achieves the same result.

You can rebook as many times as you want

There is no limit to how many times you can rebook a Southwest flight. If the price drops three times before departure, you can rebook three times and pocket the savings each time. This is where regular price monitoring pays off. Studies show that flight prices can fluctuate significantly between booking and departure, and Southwest's policy lets you capture every dip.

Rebooking with Rapid Rewards points

If you booked with Southwest Rapid Rewards points instead of cash, the process works the same way. Cancel the flight, and the points are redeposited into your account instantly. Then rebook at the lower points price. There are no redeposit fees and no waiting period. The points savings can be substantial, especially on longer routes where point prices swing by thousands.

Travel fund expiration: what to know

Travel funds from Wanna Get Away and Wanna Get Away Plus fares expire 12 months from the original booking date, not from the cancellation date. This is an important distinction. If you booked a flight in January and cancel in October, you only have until the following January to use those funds.

However, if you have Southwest Rapid Rewards status (A-List or A-List Preferred) or hold the Southwest Rapid Rewards credit card, your travel funds will not expire as long as your account remains active. This makes the Southwest credit card particularly valuable for frequent rebookers.

The 24-hour rule still applies

Like all U.S. airlines, Southwest is subject to the DOT 24-hour cancellation rule. If you cancel within 24 hours of booking, you get a full refund to your original payment method regardless of fare type. This applies even to Wanna Get Away fares. After 24 hours, the fare class rules described above take over.

The catch: Southwest is not on Google Flights

Here is the one significant limitation with tracking Southwest prices: Southwest does not share its fare data with any third-party platforms, including Google Flights, Kayak, Skyscanner, or any other aggregator. This means the automated tools many travelers rely on simply do not work for Southwest.

To monitor Southwest prices, you have to manually check Southwest.com or the Southwest app. This is tedious, especially if you have multiple flights booked. Tools like Slipfare can help track prices on other airlines, but for Southwest, you are largely on your own. Setting a recurring reminder on your phone to check once a day or every few days is a practical workaround.

Tips to maximize Southwest price drop savings

• Book early, rebook often. Since there is no penalty, book as soon as you know your travel dates. You can always rebook later if the price drops.
• Check prices regularly. Without third-party tracking, manual checks are the only way. A quick two-minute search a few times per week can pay off handsomely.
• Watch for sales. Southwest runs periodic fare sales that can slash prices dramatically. These are great rebooking opportunities.
• Use travel funds before they expire. Set a reminder for the expiration date so you do not lose them.
• Consider the Rapid Rewards credit card. It eliminates travel fund expiration and earns points on everyday spending.

The bottom line

Southwest's no-change-fee policy is one of the best deals in the airline industry. Whether you paid cash or points, you can rebook as many times as you want and keep the savings. The only real downside is the lack of third-party price tracking, which means you need to put in a little manual effort. But for travelers who are willing to check prices periodically, the rewards are well worth it. No other major U.S. airline makes it this easy to save money after booking.