So I just got my first SouthWest Rapid Rewards points last week and Southwest is promptly introducing changes to the must lucrative award category.
We want to inform you of an upcoming change to the Rapid Rewards Program that will affect the number of points needed for reward travel. Wanna Get Away reward flight bookings made on or after March 31, 2014 will require 70 points per dollar. This is an increase from the 60 points per dollar currently required. Anytime and Business Select reward flight redemption rates, as well as the points per dollar you earn when flying, will remain the same as they are today.
It's not a huge devaluation but still 15% out of nowhere.