Vouchers and credits are typically “use them or lose them,” although every airline is different. Some are more generous, but many carriers' travel credits and vouchers expire just 12 months from the date you purchased your first ticket.
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What's the law? The U.S. Department of Transportation (DoT) is clear on the issue of refunds: if your flight is canceled by the airline and you choose not to travel, you are entitled to a refund. That means the dollar amount you paid, not a voucher for the equivalent to use with the airline.
A travel voucher is a form used by business travelers to keep track of their travel expenses. At the end of the trip or another convenient interval, the traveler turns in the voucher to a representative of the employer. This allows the employer to compensate the traveler for any out-of-pocket expenses.
The purpose of the travel voucher is to make claim for reimbursement for travel expenses incurred while on travel status. Only expenses related to the travel should appear on a voucher, including: transportation expenses, mileage, lodging, meals, parking, tolls, etc.
If you've got a handful of credits or vouchers, don't worry: Most airlines easily allow you to apply up to three or more toward one transaction. Just keep in mind you can generally only use these travel credits for yourself, not someone else.
To request a flight change, call or email the airline or travel agency. Make a note of your reservation number and travel dates. Explain to the customer support operator why you need to change your ticket and inquire about alternative flights that will better fit your needs.
However, airlines may offer their customers a voucher instead of a refund in such cases. In some situations, a travel voucher may seem more attractive to air travellers than a refund (repayment), as they can use the voucher on future trips with the same airline or other partner airlines to save on ticket costs.
In some cases, you can make changes to your itinerary with no fee. Every major U.S. airline (except Southwest Airlines) typically charges penalty fees to change or cancel an economy fare flight. The fees, however, can vary from as low as $75 on a domestic flight to more than $400 on an international flight.