Southwest has announced a revaluation of Rapid Rewards redemptions today. Although there are some improvements, this represents a devaluation for the majority of people.
In the past, Wanna Get Away fares offered the best value for your Rapid Rewards points as they could be redeemed for ~1.38cpp. Redemptions for Business Select and Anytime fares offered far less value at ~0.83cpp and ~1cpp respectively.
Southwest has revalued all three types of fares today, with the cost of Business Select and Anytime fares going down, but with Wanna Get Away fares going up.
As of today, Business Select and Anytime fares will now be valued at ~1.28cpp, so that’s a definite improvement. However, Wanna Get Away fares will now be valued between 1.28cpp and 1.32cpp.
Seeing as the vast majority of Southwest customers redeem their points for Wanna Get Away fares, that represents a devaluation. The change is between 5-8% so it’s not a huge devaluation, but it’s a devaluation nonetheless.
What are your thoughts? Will this change your Southwest flying habits?