Booked a Flight, Then the Price Dropped: Your Action Plan

Key takeaways

• If the fare drops within 24 hours of booking, you can cancel and rebook without fees, but make sure to book the new ticket before canceling the old one.
• For some fares (especially basic economy), changes or refunds are not allowed if you cancel 24 hours after booking. However, if eligible, you may receive a refund or credit, though fees might apply, reducing any savings from the price drop.
• Different airlines have their own policies for fare drops, with some offering refunds or credits, while others charge cancellation fees.
• If the fare drops after 24 hours, assess whether the fees for changing the ticket outweigh any potential savings, and check the airline's specific policy before proceeding.
• Our Price Drop feature watches your fare after you book and alerts you when the price falls enough to make rebooking worth it. Members save an average of $150 per ticket, according to our data.

Airfare prices are constantly fluctuating, and even if you snag a great price, there's always a chance the fare could drop even lower after you purchase. So what happens if you book a flight and the price goes down later? That all depends on what type of ticket you purchased and how long ago you bought it.

If the fare drops within 24 hours of booking

For all flights into or out of the US, airlines are required to abide by what's known in the industry as the 24-hour rule.

Under this US Department of Transportation policy, airlines must allow you to cancel or change the ticket within 24 hours of purchase without any fees (alternatively, they can allow you to lock in the price for 24 hours at no charge, but most opt for the 24-hour cancellation or both). 

The rule applies to any flight that originates or lands in the United States, is booked directly with the airline, and was booked at least a week in advance of departure.

In other words, if you discover a lower fare and you're within 24 hours of booking the first ticket:

1. Double-check that you're within the 24-hour window
2. Book the new flight immediately to make sure you get that lower fare
3. Cancel the original (higher-priced) ticket

Just make sure you book the new ticket before you cancel the old one. That way you won't be left with no ticket at all if the price rises again.

Note that some online travel agencies (OTAs) have their own version of the 24-hour rule, but be warned that these rules often come with caveats. Read carefully.

→ Want to score the best flight deals? Learn expert tips on how to find cheap flights and save big on your next trip.

If the fare drops on a flight booked more than 24 hours ago

The policy here will vary by fare type. Most basic economy fares, for example, aren't eligible for changes or refunds at all once the 24-hour window has passed. But can you get your money back if your flight price drops? If you booked a main economy or higher fare, you may be able to cancel it and get money back to the original form of payment or in the form of a credit.

On basic economy and budget-carrier fares, change or cancellation fees can easily wipe out the savings from a lower fare. On standard fares at most major US airlines, there's no change fee, but the difference can come back as travel credit rather than cash, so be sure you understand the cancellation and change fees involved before you decide to make any adjustments to your itinerary.

Here's how the major US airlines handle fare drops after the 24-hour window.

Note: Airline policy information is current as of September 2026. Always confirm cancellation and change policies directly with your airline before proceeding. 

Other airlines

When it comes to other airlines, policies vary. If you're outside the 24-hour window and the fare drops by a significant amount, it's worth checking the airline's policies, but remember that in most cases, the fees you'll incur changing a nonrefundable fare might negate your potential savings.

Going's Price Drop feature tracks the fare for you and alerts you when rebooking makes sense, so you don't have to check manually.

To see if you are getting a good deal, try searching on Google Flights. The tool flags whether a fare is high, low, or typical for that route. If the system shows a price is lower than average, you can lock it in with confidence, knowing a steep price drop is improbable.

→ Flexible with your plans? Check out how to find cheap last-minute flights and grab the best deals before they're gone.

How to catch a fare drop without checking every day

Price Drop watches your fare automatically after you book. When the price falls enough to make rebooking worth it, you get an alert with the new price and the steps to claim your savings.

Here's what you need to know:

• It never cancels or changes anything for you. Price Drop sends the alert. You decide whether to rebook. Nothing happens to your reservation without you taking action.
• It only alerts when the drop is worth it. If the fare drops by a few dollars but change fees would eat the difference, you won't hear from us. We only ping you when rebooking is worth your time and effort. 
• Members save an average of $150 per ticket when a Price Drop alert leads to a rebook, according to our data.

Price Drop is free for Going Premium and Elite members. Not a member yet? Join Going and start tracking your fares right away.

The bottom line

If you book a flight, the price drops, and you're within 24 hours of booking, the best move is to book the new fare and cancel the older, more expensive one. 

After 24 hours, your fare type makes all the difference. If you booked main cabin or higher on most major US airlines, there's often no change fee, so a lower fare means you can save without the airline taking a cut. These savings are usually returned in the form of cash to your original form of payment or a travel credit. Basic economy is where you're stuck: Most of these fares can't be changed, and canceling for a partial credit comes with a fee that can wipe out the savings. The smartest approach is to let Price Drop watch your fare so you know the moment a lower price appears.