Southwest Rapid Rewards will change the number of points required to redeem Wanna Get Away fares from 60 to 70 points per dollar on or after March 31, 2014.
This will constitute a devaluation of 14.29% for those that redeem for this fare type.
Southwest revamped its Rapid Rewards program few years ago and made it entirely monetary based. You would earn x-number of points per USD depending of the booked fare type.
Reward seats cost 60 points per USD for Wanna Get Away, 100 points per USD for Anytime and 120 points per USD for Business Select-fares.
If you earn your Rapid Rewards points from Wanna Get Away fares (6 points per USD) and use them for awards on the same fare class (70 points per USD), you get 8.6% cashback in form of “free” travel.
Let’s say that your Wanna Getaway fare ticket cost $100. You would earn 600 points buying it or you need 7000 points for an award ticket. You would need to pay for twelve $100 tickets in order to have enough points to redeem for a one $100 ticket.
Seems that Southwest wants to lower the future liability of the outstanding points and record a paper gain. This is done by requiring more Rapid Rewards points per USD in airfare.