Cancelled (guaranteed) reward seats - got a travel credit

[MJHoops]

So I just had to cancel some flights. I’d used the guaranteed reward seat benefit for platinums. I booked this over the phone

I spent 180,000 points plus about $520 of taxes and charges. I called up to cancel (our daughter broke her leg!) and they said it can only go into travel bank

Not my understanding of reward seat cancellations, but anyway

I got a travel bank credit of about $4800 (AUD)

I think I just profited from this. I typically assign 1cent value per point but appreciate this is subjective. And the credit can be used on any flights - and then I’ll earn status credits on the new flights

Thoughts?!?!

 

[Blackswan]

Not as bad as redeeming for for gift cards, but I wouldn't be happy. I could extract far better value from the points.