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
Airport lounge access
Contactless payment (NFC)
Installment payment
Credit (rechargeable)

Leasing instead of credit: these are your advantages

Do you want to invest without taking out a loan? And you don’t want to touch your liquidity reserves? Then leasing could be just the thing for you – for real estate, vehicles, machinery and more.
The principle of leasing can be briefly described as follows: You can use capital goods such as a company car without having to buy it yourself for a lot of money. The lessor purchases the item for you and makes it available to your company. You pay a regular lease payment for this.


The main advantages of leasing at a glance

The main advantages of leasing at a glance

  • They create more financial scope and receive tailor-made financing solutions based on their cash flow: “Pay as you earn” principle.
  • Thanks to fixed leasing rates, you have a secure basis for calculation.
  • They do not tie up equity and remain liquid.
  • You stay up to date with your operating equipment and are independent of the manufacturer or supplier of the investment object.
  • You can deduct the leasing installments from tax as operating expenses.


Tailor-made contracts possible

credit loans

Leasing contracts can be designed very flexibly. For example, you can adjust the lease term of the capital asset to your useful life. Or link the leasing rates with your occupancy rate. You also choose between various forms of contract: either you return the leased asset at the end of the term. Or you can buy it after this time or extend the contract.


The main leasing goods

credit loans

With equipment leasing, you rent movable assets such as machines, office equipment or exhibition stands. The classic in this category is the company car. With the leasing companies of the Astro Financial Group, you are manufacturer-independent. You can put together a fleet of different brands according to your wishes. And even from a small number of vehicles, you can also transfer the fleet management of the leasing company.

You can even lease high-quality real estate. You do not have to invest large sums and remain flexible when using the property. In general, this applies to both new buildings and existing properties. In the so-called sale-and-lease-back, the leasing company acquires the building from you and then rents it out to you.

You can also use leasing abroad. Because the leasing companies of the Astro Financial Group are active in many countries. Above all, Deutsche Leasing AG. It offers its services in over 20 countries and supports entrepreneurs with local German-speaking contacts. In addition to financing capital goods, Deutsche Leasing also enables sales leasing: As a German exporter, you can not only offer your customer abroad your product, but also the right financing by leasing. So your foreign partner does not have to strive for financing yourself – a strong argument for your company in the export business.

By the way: If you are in a particular hurry – leasing is also very quick with the “2-minute commitment” for smaller investments. Simply contact our experts with your leasing request.