It has always been a credit against the flight you actually end up re-booking, if you take a credit. Meaning if the price of the flight goes UP from the price you paid for the original ticket, they will charge you the difference. I really don't have a problem with that, if I took a credit. Of course, if I have a choice in the matter, I would NEVER take a credit now, I would always get a refund. So, if the flight is cancelled by the airline, you get a refund. If the flight ends up going and you decide not to go, you can get a credit against the new fare, whatever it happens to be. If the fare goes up, you pay more.