We had a cruise booked in May 2023 with a stay at an Airbnb in Barcelona, Spain for a few nights. Due to illness I had to cancel our cruise and reservation at the Airbnb. The policy stated that I would receive 50% back if cancelled within a specific time frame. I did cancel within that time. In 2021 we received a credit for $250.00 for an Airbnb booking that we had to cancel as it was not satisfactory (photos were not the same as the apartment, etc.). We used this credit as part of the cost for the Barcelona booking.
When the refund was calculated, Airbnb took the $250.00 credit off the refund first, and then only gave us back the money that was left on the refund. So, for a $680.00 reservation, I only received $57.58 refund.
I think that is a self serving policy for Airbnb to have, and every guest should be warned ahead of time. We will not travel with Airbnb reservations ever again.