Cancelling Your Flight: WestJet flights can be cancelled up until two hours prior to flight departure. When you cancel your booking (same day as booked) online , through the Sales Super Center or in person at an airport, you will have the option of receiving a refund minus a $25per booking cancellation fee back to your credit card; or, a full Future Travel Credit and no fee.
For cancellations after the original date of booking, a fee of $50 plus tax per person will be deducted from the total amount. The remaining funds will be transferred into a WestJet credit file. This credit file can be used for any future WestJet flight. A credit file is valid for one year from the date it was created, and is fully transferable.
SO, if you can cancel without penalty for a full future travel credit, can it not be cancelled and rebooked at the lower price?