Southwest offers one of the most flexible refund policies in the U.S. Canceled refundable fares return to your payment method, while nonrefundable ones convert into travel credits. I verified this by calling (844) 734-0813, and the agent explained I could use credits within 12 months. Southwest also honors a 24-hour full refund window for new bookings. Their simple, customer-first approach makes managing changes stress-free.