As of 2026, you cannot directly "convert" a Southwest LUV Voucher into Rapid Rewards points through a simple exchange button. LUV Vouchers and Rapid Rewards points are treated as two separate forms of "currency" within the Southwest ecosystem. However, there is a strategic workaround often used by savvy travelers: you can use the voucher to book a flight and then, if you have a change of plans, cancel that flight. Depending on the fare type, the value will return to you as a Flight Credit, which (unlike LUV Vouchers) never expires. While you still can't turn them into points, this effectively "saves" the value indefinitely. It is also important to distinguish between a "LUV Voucher" (given for service issues) and a "Flight Credit" (from a cancelled trip). In 2026, Southwest occasionally runs limited-time promotions where they allow members to trade in specific types of travel funds for points at a discounted rate, but this is not a standard, year-round feature. If you have a voucher nearing its expiration, the best use is simply to book a trip for yourself or someone else, as vouchers are transferable, whereas points are locked to your specific Rapid Rewards account unless you pay a fee to transfer them.