One thing that keeps this job interesting is that you always learn something new about schemes you thought you understood backwards.
It is a fairly well known fact that you can cancel any BA flight booking made on ba.com, for cash or Avios, within 24 hours for a full refund. No cancellation fees are charged, not even the standard £35 Avios cancellation charge.
However, as a reader found out last week, you do not get this protection for Avios bookings made on avios.com. The cancellation fee kicks in immediately, even if you try to cancel 10 minutes after booking.
This is unlikely to make a massive difference to your booking strategy, but if there is an outside chance that you may need to cancel an Avios redemption within 24 hours of booking then make sure you book via ba.com and not avios.com.
(EDIT: It seems, given the comments below, that there is some confusion on this point. I know a reader was refused a cancellation last week for free when he tried within 24 hours. Others are now being told it can be done if it is a BA flight.)
PS. It is also worth a reminder of the other booking restriction at avios.com – you cannot make bookings online within 24 hours of departure. This is not a problem over at ba.com. It does appear to be possible via phone.
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