Can't make a trip? 4 tips to get some of your money back.
Sometimes life gets in the way of your travel plans
We may be out of the days of peak COVID cancellations, but life can still disrupt even the best laid plans. If you find yourself in a situation where you can no longer go on a trip you booked, it's not just the memories you will be missing out on — any money you already paid is also on the line.
Maybe you were proactive enough to purchase travel insurance, in which case you are probably not sweating it. But if that's not the situation you are in, here are some tips for hopefully recouping some of the money you stand to lose. After all, missing a trip already stings enough.
1. See what travel protection your credit card offers.
There is a chance you have travel insurance and didn't even know it. Some credit cards "offer varying levels of trip cancellation insurance that's designed to protect you for some unforeseen circumstances," such as "sickness, accident, or injury that affects either you or an immediate family member or traveling companion," or "severe weather that affects the start or continuation of your trip," said NerdWallet.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Note that for this coverage to apply, "the travel must have been booked on the credit card that offers travel protection," said NerdWallet — "simply holding the card but paying with a different one won't help."
Double-check your card's benefits and if it offers travel insurance, find out what is covered. From there, make sure to move forward with filing a claim within the specified timeframe.
2. Familiarize yourself with cancellation policies.
Before you panic, take a deep breath and read the fine print. You can often go to the website of the company you are hoping to recoup money from and check out their policies. In some cases, "the airline, hotel, or vendor may already have a structure in place for people experiencing problems," said Kiplinger.
It is also helpful to enter the process of getting refunds with a firm knowledge of what you are owed. For example, "according to the Department of Transportation, passengers are due a refund if their flight is canceled" — not just that measly voucher an airline may initially try to offer you. On the other hand, if you booked a nonrefundable fare, "you'll find that some airlines charge a fee to cancel, and they might base the fee on how far in advance you cancel," said The Points Guy, which might be helpful to know in advance if you are trying to keep your cool.
3. Be ready and willing to negotiate.
While some cancellation policies do not allow for much wiggle room, in other cases, you may be surprised what you can get if you remain patient and persistent.
For instance, when it comes to getting money back on a hotel reservation, "you get what you negotiate," said Forbes. "Hotels and resorts aren't as strict about refunds because generally, it's a far more competitive industry than airlines," so you may be able to "call the property and possibly negotiate a refund or an extension" of credit.
Similarly, if you worked through a travel agent, they may be able to help you out, as "a qualified travel advisor knows the ins and outs of the refund rules, not to mention some inside contacts," said Forbes.
And it never hurts to reach out with a polite message just to see what happens — "if you're an older traveler or have health problems, you might be able to talk yourself into a refund," said Forbes.
4. Involve your credit card company if necessary.
If a company is not cooperating or you are dealing with a cost that's non-refundable, you can try filing a credit card dispute. This offers "a way to recoup costs when a merchant doesn't deliver the product promised at the point of purchase," said Nerdwallet, though it "should be your last resort after exhausting all other possibilities."
Also note that if you are going this route, you will need to show the efforts you've already made to get your money back. "A successful chargeback often hinges on documentation," said NerdWallet, so make sure to "save screenshots and relevant emails," alongside any other relevant communications that illustrate the situation.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Becca Stanek has worked as an editor and writer in the personal finance space since 2017. She previously served as a deputy editor and later a managing editor overseeing investing and savings content at LendingTree and as an editor at the financial startup SmartAsset, where she focused on retirement- and financial-adviser-related content. Before that, Becca was a staff writer at The Week, primarily contributing to Speed Reads.
-
Will Starmer's Brexit reset work?
Today's Big Question PM will have to tread a fine line to keep Leavers on side as leaks suggest EU's 'tough red lines' in trade talks next year
By The Week UK Published
-
How domestic abusers are exploiting technology
The Explainer Apps intended for child safety are being used to secretly spy on partners
By Chas Newkey-Burden, The Week UK Published
-
Scientists finally know when humans and Neanderthals mixed DNA
Under the radar The two began interbreeding about 47,000 years ago, according to researchers
By Justin Klawans, The Week US Published
-
How much should you spend on holiday gifts?
The Explainer Let your personal budget be your guide
By Becca Stanek, The Week US Published
-
What exactly are tariffs and how do they work?
The explainer Refresh your understanding ahead of Donald Trump's promise to levy heavy tariffs once he's back in office
By Becca Stanek, The Week US Published
-
How to choose a high-yield savings account
The Explainer What to consider, from interest rates to fees to accessibility
By Becca Stanek, The Week US Published
-
4 tips to finally start your small business in the new year
The Explainer Make your dream a reality
By Becca Stanek, The Week US Published
-
Looking to earn extra money around the holidays? 6 ideas for seasonal side hustles.
The Explainer Pad your paycheck
By Becca Stanek, The Week US Published
-
Online shopping scams to look out for and how to avoid them
The Explainer Black Friday is a busy time of year for scammers
By Becca Stanek, The Week US Published
-
Is a travel credit card worth it? How to decide and pick the right one.
The Explainer Upsides include travel-related benefits and welcome bonuses
By Becca Stanek, The Week US Published
-
How IRAs work and what advantages they offer
The Explainer An IRA is a retirement savings account with tax benefits
By Becca Stanek, The Week US Published