Southwest has launched a new cash & points booking option for customers. You’ll be given five options when choosing cash & points starting with as little as 1,000 points, unfortunately when you redeem points in this way you only get 0.625¢ – 1¢ per point. These bookings also don’t earn points or qualify for elite status. In every case I’ve looked at it’s actually cheaper to just purchase points than use the cash & points feature.