Major Devaluation of Southwest Airlines Rapid Rewards Miles

Boo Hiss.  Southwest Airlines has just announced a major devaluation of the Rapid Rewards frequent flyer program:

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.

In other words, the miles will be devalued by 15 percent.

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