With Southwest Airlines, you can cancel your flight without penalty depending on your fare type. Refundable tickets offer a full refund to your original payment method when canceled. If you have a non-refundable ticket, you can still cancel at no penalty, though you'll receive a credit for future travel instead of a refund. The travel credit is valid for one year from the original booking date. To avoid issues, ensure you cancel the flight at least 10 minutes prior to departure.