24h cooling off period on BA reward bookings?

Last week I booked a return reward upgrade to Dubai for two of us. 24k Avios + about £2000 for Club World from London.

Cancelled online about 12 hours later. Initially only got £124 back plus the Avios, which surprised me since I thought BA had a 24 hour cooling off period.

Is that policy supposed to apply to reward bookings too?

Update: Spoke to BA via chat and they’ve now refunded the full amount. All sorted.

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