flight credit for less than amount?

I may need to cancel some flights with Qantas that were sale fares.
I can get a flight credit, but I see in the terms you can ONLY use them for flights the same or for more than the credit.

Is this true?
The new flights I want for later in the year to a different destination are for less, but I'm happy to eat the cost and lose the money - can I really not book for less and lose the full value if I want to?

Original flights were around $2K new ones would be $1200
ExecTrav Qantas rejigs flight change fees, travel credits
Qantas is revamping its Flight Credits scheme to make the program more flexible, while also delaying an increase to the fees for changing or cancelling flights. From today, Wednesday October 9, Qantas customers holding Flight Credits will be able to use those credits across multiple bookings.

The previous system was widely criticised for only allowing passengers to use their Flight Credit to rebook fares equal to or higher than their original booking, which meant they had to redeem the Flight Credit in a single booking.
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Have not been able to find on QF

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wow, looks like I waited until the right time to cancel. I think I'll just keep hold of them for a while and see if there is a flight change that I can take advantage of and cancel that way first - the flights aren't until the end of Feb. If not at least I can now us the credit for the lesser value that I needed.
 
I think I'll just keep hold of them for a while and see if there is a flight change that I can take advantage of and cancel that way first - the flights aren't until the end of Feb.
Oh you didn't try with the 5 minute schedule change?
 
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Anyone tried yet to work out how the residual gets treated?
Does it result in a new PNR or does it just keep adding flights to the existing PNR?
If it works similar to VA's travel bank, it's more like a virtual prepaid debit card. You create new bookings and can use the travel bank as a (part) payment. If not, then my guess is that the residual would be transferred into a new PNR.

This will actually be interesting to those who may need to change their DSC bookings.
 
If it works similar to VA's travel bank, it's more like a virtual prepaid debit card. You create new bookings and can use the travel bank as a (part) payment. If not, then my guess is that the residual would be transferred into a new PNR.

This will actually be interesting to those who may need to change their DSC bookings.
For involuntary credits (where the customer opts for a credit instead of refund) and when credits had the same flexibility during covid, the system uses the existing PNR for the new booking and generates a new PNR for the residual balance. Would assume it is still the same - given the underlying mechanism of retaining the credit value against a PNR has not changed.
 
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If it works similar to VA's travel bank, it's more like a virtual prepaid debit card. You create new bookings and can use the travel bank as a (part) payment. If not, then my guess is that the residual would be transferred into a new PNR.

This will actually be interesting to those who may need to change their DSC bookings.
I hope so because the way I used my virgin credits was so easy and stress free

I just hope it’s the same because I want to use it for additional PAX not just the same two on original booking
 

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