I had a $200 credit from Alaska customer service after a flight delay once.
It was only for my own use, meaning it could deduct 200.
This year I've been flying other airlines and haven't flown Alaska much, so I never used it.
Also, this year I've been going to the East Coast a lot and mostly flew UA, AA, etc.
So I wanted to extend it.
I saw a DP on the forum saying you can book a flight for next year and then cancel within 72 hours (similar to extending Delta credit).
I did that.
But after I finally canceled, only the cash portion I paid was refunded, and the gifted credit was gone.
When I asked customer service, they said that's just the rule.
Just sharing a DP.
Cancellation refunds only the cash portion, not the gifted amount—this outcome can't necessarily be treated as a general rule.