Southwest - Spring Break flights / cancellations?

Ok, I sent them another message stating I wanted a refund vs. travel funds. They are giving me back $99 per passenger back on my credit card, but the rest will remain as travel funds which will be extended thru June 2021. We originally paid around $300 per flight, but the flight kept dropping so I have various travel funds. Example, travel fund abcdef-1 is worth $55, abcdef-2 is worth $85, abcdef-3 is worth $45 and finally abcdef-4 is $99. Southwest is saying since the tickets that were cancelled were $99 at the time of cancellation, that is what I'm refunded back to my credit card. The other 3 travel funds will remain travel funds. Does that sound right?
This sounds similar to my experience. We had flights booked to FLL for a cruise in May. Southwest moved us to a different flight and we were able to get a refund. These tickets were booked half travel funds and half cash. We got the cash back and the rest in travel funds that expire in June 2021.
 

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