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One of my favorite components of both JetBlue and Southwest is if the fare decreases in price, you get your money back!! Well unfortunately JetBlue is changing their non-publicized flexible policy. Up until now, you could call JetBlue and receive a credit for the fare difference up until the date of departure. Going forward (although I am not 100% sure when this new policy was actually put in place), you will only have 14 days from the date you booked your flight to get a credit. While I still think 14 days is very generous and much better then almost every other airline, I do hate new policies that are not in the favor of the consumer!
So when you book a flight you have 14 days to see if the price goes down and if it does make sure to call JetBlue immediately. You will receive a voucher for the fare difference to be used one year from the date the flight was purchased. Fortunately though, this credit is transferable and can be given to a family member or friend to use on a future flight. While Southwest overall has a more generous policy the fare credit you receive is transferable.
Remember though, if you have Mosaic status you can technically still get this credit past the 14 day mark. Mosaic members have the benefit of getting the change fee waived, so if your flight goes down in price, you can always cancel, get the full credit back from the flight, and then re-book with that credit. You will then be left with a credit for the flight difference.
Thanks to the Wander Aramean blog for tweeting this out this morning.