Credit Cards

Credit card with cancellation insurance

Travel cancellation insurance is one of the best-known additional services for credit cards. It offers financial protection if the booked trip cannot be started for important reasons. Here you will find the most important details.

Cancellation by credit card

Cancellation by credit card

Depending on the operator, travel cancellation insurance can account for up to 10% of the total price. On a vacation to the Caribbean, 100 to 300 USD are not uncommon. However, this insurance is absolutely necessary to get the costs reimbursed in the worst-case scenario. Otherwise, you will have to pay for a trip that you will not go on. This includes expenses for flights, hotels and rental cars. In the case of a package tour, the entire package is taken over. Cruises are also included in the scope of services.

Some credit cards include travel cancellation insurance. So you do not have to take out separate insurance. Protection extends to no fault of your own.

Important requirement: The credit card must be valid during the entire vacation.

Common cases where travel cancellation insurance is available:

  • serious accidents with injuries
  • sudden illness
  • previously unknown pregnancy
  • Family death
  • dramatic damage to property (fire, flood)
  • allergic reactions to vaccinations
  • Police or court requests presence

A certificate or a sick leave certificate is sufficient as proof. It is not enough to briefly describe the case. The reasons must be documented by a medical document.

Advantages and disadvantages

advantages and disadvantages

Anyone who travels several times a year needs a lot of insurance. Over time, this will cost money: Already three trips can cost 500 USD in additional services.

You can save the majority of these costs through additional services integrated into credit cards, such as travel cancellation insurance, because you are automatically covered as a cardholder. The time of withdrawal is decisive whether you receive the full amount or a partial payment. Read the conditions of the card issuer carefully. Alternatively, you can make a short phone call to find out the necessary information.

As a rule, the entire trip must be paid for by credit card. Otherwise you cannot take advantage of the protection. If the holiday has already been booked, you should ask the card issuer. Some are accommodating and still secure the trip. To do this, the credit card must reach you before you travel.

Offers with no deductible are preferred for travel cancellation insurance. So you don’t have to make any additional payments. The spouse and children should also be insured with your credit card. For a single, this point is irrelevant.

Important: This is not a trip cancellation insurance! This jumps in during the vacation, for example when the boss quits his job. A quick return is necessary to clarify the matter. Some card issuers offer this protection in a package with travel cancellation insurance.

How high are the costs?

How high are the costs?

Cancellation is an additional protection from the premium segment. The service serves as an argument for expensive credit cards. Therefore, it is reserved for gold or platinum cards. However, you will not find travel cancellation insurance for prepaid cards.

The card issuer participates in this protection through the annual fees. Expect around 100 USD for a credit card with this insurance. This is not a lot, as some travel agencies charge over 150 USD for cancellation. In this case, the plastic card would have paid for itself when you made your first booking.

Tip: Look for a package with a higher scope of services. For a small surcharge, you can get foreign health, luggage and rental car insurance. In this way you benefit from further protection and save additional expenses.

The customer receives additional protection, which is a reason to buy. In return, the card institute won a new customer. In the event of a claim, contact the insurer directly. You can obtain all telephone numbers from the card issuer. This service is costly for the financial institution. Therefore, travel cancellation insurance is only available for credit cards with annual fees.

Example: credit card with cancellation

Example: credit card with cancellation

The Barclaycard Platinum Double is a credit card with travel cancellation insurance. Travel of up to 5,200 USD is insured, and for family trips up to 10,300 USD. The cardholder receives a Visa and a MasterCard. In comparison to other offers, you do not have to pay for the holiday with a credit card.

Additional Services:

  • Health insurance abroad
  • Foreign security letter
  • Luggage insurance
  • Travel law protection

You can test the Barclaycard Platinum Double for the first year without fees. It can be canceled at any time after the second year. The annual fees are 99 USD, three partner cards are available on request.

Conclusion: Frequent travelers and globetrotters are the biggest beneficiaries of this additional credit card service. Families can also save a lot of money. If you only travel by car once a year, you can do without travel cancellation insurance.

Other credit cards (additional) services
Car rental insurance
Partner card
Foreign insurance
Cancellation insurance
Limits
Airport lounge access
Contactless payment (NFC)
Cashback
Installment payment
Credit (rechargeable)
Credit Cards

With the Basis credit card you have your expenses under control

The credit card is a practical means of payment for your trips abroad and for purchases on the Internet. Our credit card base offers you all the advantages of a credit card. It also prevents your account from falling into the red.

Credit cards have been available at the savings banks for many decades. Most of them work on this principle: First you pay the bill. The amount will then be debited from your account. This is usually done once a month by direct debit. With the credit card basis it is the other way round: you load the amount of money of your choice onto the card. As soon as the money is credited to the credit card base, you can start shopping with it. Once this credit has been used up, no further withdrawals with the card are possible. This makes the credit card basis particularly suitable for young people and adults who otherwise cannot get a credit card or who are very security-oriented.

 

The advantages of the credit card base

The advantages of the credit card base

  • Convenient cashless payment with all the advantages of a credit card
  • Suitable for withdrawing money from ATMs worldwide
  • Full cost control, as dispositions are only possible within the framework of the previously deposited credit
  • Convenient access to balance, sales and monthly statements via the Internet, bank statement printer or telephone hotline

 

No proof of creditworthiness and income required

No proof of creditworthiness and income required

Young people often do not have regular incoming payments on their accounts. The credit card basis is an interesting solution for you, because it is independent of income. Even adults who do not receive a credit card with credit lines due to a lack of creditworthiness can pay with the rechargeable credit card. It may happen that the credit for due bookings (for example at parking machines or toll stations) is sometimes not sufficient. Then these amounts will be debited to the specified billing account.

 

Reloading on the go

Reloading on the go

You can top up the basic credit card by bank transfer or standing order from your checking account. This also works when you are traveling and can access your account on the go. Amounts received on the credit card account by 3:30 p.m. will be available the next working day. Credit notes can also come from a third-party checking account. For example, this enables parents to support their children financially during their studies or while traveling.

 

Protected in the event of loss

Protected in the event of loss

If the card is lost or stolen, the loss is no more than the credit. In such a case, have the card blocked immediately by calling the free telephone hotline. This number also applies from abroad with the German area code (usually +49). Until blocked, you are liable for a maximum of 50 euros – as with all other Smacklend credit cards.