a credit instead of a refund is almost the same thing as not offering a refund. you're going to have a hard time using that refund in a manner that benefits you (not taking a flight for no reason)

Yep. I don't fly a ton, but I had a flight canceled by Alaska a couple of years ago. They refunded me so I wasn't actually out anything, but they also gave me a $100 credit in addition to the refund. I really tried, but since I don't live in Seattle and don't fly much, there was no way I could use that $100 credit without paying a whole lot of my own money too. It annoyed me to "throw away money", but the credit expired unused.