If you change or cancel your flight – or get bumped – airlines will often give you at least some of that money back in the form of a voucher or travel credits to put toward a future trip. And these days, major U.S. airlines are offering travelers unprecedented flexibility to do so.

A free flight voucher (or airline voucher) is a digital or physical credit issued by an airline that can be used to pay for a future flight booking. These vouchers are most commonly issued as compensation for inconveniences like flight cancellations, significant delays, or "bumping" due to overbooking. They can also be earned as a perk from co-branded credit cards, often referred to as a "Companion Voucher" or "Complimentary Ticket Voucher," which might waive the base fare for a second traveler. In 2026, these vouchers typically have a monetary value (e.g., $200) or a "sector" value (e.g., one round-trip domestic flight). It is crucial to read the "fine print," as most vouchers have an expiration date (often 12 months) and may have "blackout dates" during holidays or be restricted to specific fare classes. While they are a valuable resource for frequent flyers, they are usually non-transferable and cannot be exchanged for cash, making it important to use them within their validity period to avoid losing the benefit provided by the airline as a gesture of goodwill or a loyalty reward.