With COVID-19 changing the way people fly — or limiting the amount they want to fly — airlines have been quite generous in extending the expiration dates of vouchers and certificates. Southwest is one of those companies far ahead of the game and have even taken their policies even one step further to really focus on the customer.
In addition to extended the dates of Travel Funds, they are even allowing you to convert your travel funds into Southwest Rapid Reward points. Although this was announced back in August, tomorrow, Dec. 15, 2020 is the last date you can actually do it! So do not delay.
With this conversion process, your funds can be converted at a rate of 1.28 cents per point. Southwest points can then typically be redeemed for about 1.4 cents per points, so you are actually getting a fabulous value since you are redeeming points for more than what you are “buying” them at. Just keep in mind though that you’ll still have to pay the taxes and fees when you use points.
I personally have three different travel funds that were set to expire Sept. 7, 2022 and took this opportunity to convert them all to points. This will then allow me to use my points towards anyone in my family and not have to worry about the funds expiring.
Related: Southwest personal cards just increased their sign-up bonus! More points and fly BOGO!
Which travel funds qualify?
All travel funds that have an expiration date of Sept. 7, 2022 are eligible to be converted into points. If your travel funds expire on any other date, you will not be able to covert those funds.
How to convert your travel funds
Sign into your Southwest account and go into ‘My Account‘. At the top of the page you’ll see ‘My Travel Funds’ with the option to view your funds.
You’ll then see all of your funds, the expiration date and the ones that you can convert. All travel funds created on or after Dec. 3, 2019 will automatically display. For all funds created before this date, you’ll have to manually use the Travel Fund Lookup.
Should I convert my Southwest travel funds into points?
It truly depends, but my overall take on the situation is YES.
Although travel funds are extended for two years, you must fly by this date, not simply book by this date. And who knows what the travel world will look like over the next two years. Your points, on the other hand, do not expire.
Also, I prefer Southwest points over travel funds any day. While you are never charged a change or cancelation fee with Southwest, if you go to cancel a flight booked on points, your points go straight back into your account — as if the flight was never booked. If you need to cancel a flight booked with a travel fund and you need to cancel, the entire amount paid for the flight will go back into a new travel fund tied to the original expiration date. And any additional amount paid for the flight on your credit card will also inherit the same expiration date.
Travel funds are also not transferrable, thus cannot be used by someone else. Points, on the other hand, can be used for anyone and have more flexibility.
The one downside of using points is that you will not earn points for your flight when you travel. If you use a travel fund you’d earn points in the same way as if you paid for the flight on your credit card. So there is an opportunity cost there.
Will you be converting your funds to points, or keeping them as is? My funds have already been converted to points. This earned me approximately 522,000 points for my $988 travel balance.
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Do points purchased with travel funds count toward the CP?
@William J Orlando – They do not.
So I have travel funds that expire 10/29/20 – and were created in Feb 2020 – so they don’t fall into the window for these exceptions. Are you saying that if I book a flight before 9/7/20 to use them up, and then cancel it 25 hrs later, I’ll get a new expiration date that would be part of the guideline?
I called SWA and they said that yes, if it’s a flight made now and cancelled by 9/7/2020 then it will be a new expiration date of 9/7/22, which can be converted to miles. Perfect since MDB has credits too, and I earned companion pass this year (and haven’t been able to fly yet). So now I can book tickets with his points, and take him along for the ride. Sweet! Thanks for this tip and so many others!
OK – so this failed for me – I used by October 2020 credits, booked a new flight, waited 48 hrs to cancel – points returned for the same expiration date, not a new one!! Ideas on what to do now???
All this made me do was get another $6 tied up with travel funds that will expire this October. Ugh!
Since this probably won’t work, I guess I’ll be stuck with letting the funds expire and then get converted to a LUV voucher at cost of $100.
update… when I went back in expiration date updated to September 2022!!! Thank you for the tip!!!!
@Kate Williamson – Give it a few days to see the expiration date updated.
Go back in and look at expiration date. My expiration date initially had old date but updated a day later! I’m so thankful somebody figured this out.
@Kate – Yes!
You have it reversed:
“ any eligible travel fund can be converted at a rate of 1.28 points per dollar. ”
It’s 1.28 dollars per point, that’s why you get fewer points than dollars in your screenshot.
DId anyone actually get this to work? I tried and it just left expiration date and as it was previously. Very frustrating!
@Linda – It will take a few days for the date to update. Check back on Monday and you should see the Sept. 7, 2022 date.
It worked! I had $332 of travel funds that was going to expire in October 2020 and was distressed because not able to travel and use those funds before expiration and also didn’t want to lose $100 by waiting until after expiration and converting to LUV voucher. I didn’t think this method would work but it did! After I initially canceled the newly scheduled flight (that was made with intention just to cancel), it took a day for the expiration date to update to now be September 2022! I’m so thrilled. I haven’t decided yet if I will convert the funds to SW points or keep as travel voucher.
Thanks for the reminder but I have $110 travel funds expiring Feb 1, 2021, and I missed the opportunity window back in Sept to do the book and cancel trick! I called SW and no dice, any other suggestion or trick?