Home Comparing Benefits Which Premium Credit Cards Protect Against Airline and Travel Agency Bankruptcies?

Which Premium Credit Cards Protect Against Airline and Travel Agency Bankruptcies?

Each credit card has a different policy for covering insolvency of common carriers and travel agents, ranging from $10,000 in reimbursed ticket costs to absolutely nothing.

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Which Premium Credit Cards Protect Against Airline and Travel Agency Bankruptcy
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It’s hot topic at the moment: With the current financial insolvency of airberlin and potential bankruptcies of South African Airways and Alitalia, many travelers are wondering if they’re protected in the event of cancelled flights, cancelled routes, or even airline elimination. Under such occurrences of insolvency, airlines and travel agencies aren’t responsible for reimbursing your ticket costs, so who is?

Well, the answer potentially lies in the fine print of your credit card’s Guide to Benefits. When charging airline tickets on a credit card, you may be covered under implicit trip cancellation and trip interruption insurance policies. We’ve combed over the fine print of these policies for the nine core cards featured on Credit Card Pro. Here, who does—and who doesn’t—have you covered if your airline or travel agency goes belly up (in order from best to worst).

*BEST * Chase Sapphire Preferred® and Chase Sapphire Reserve℠

When charging airline tickets to either of the Chase Sapphire cards, the implicit trip cancellation and trip interruption insurance policies compensate loss from “financial insolvency of the Cardholder’s travel agency, tour operator, or travel supplier.” Coverage is provided up to $10,000 per trip.

Citi Prestige® Card

When charging airline tickets to the Citi Prestige® Card, the implicit trip cancellation and trip interruption insurance policies compensate loss when “a travel supplier, such as an airline or lodge, goes out of business or goes into financial default after the purchase of the Trip, impairing the Covered Travelers’ ability to travel.” Coverage is provided up to $5,000 per trip.

U.S. Bank Altitude Reserve Visa Infinite® Card

When charging airline tickets to the U.S. Bank Altitude Reserve Visa Infinite® Card, the implicit trip cancellation and trip interruption insurance policies compensate loss from “default of the Common Carrier resulting from Financial Insolvency.” Coverage is provided up to $2,000 per trip.

Luxury Cards: Mastercard® Black Card™, Mastercard® Gold Card™, Mastercard® Titanium Card™

In August 2017 all three Luxury Cards started providing a form of trip cancellation & trip interruption insurance when charging airline tickets to any of their three cards. However, under their policies, airline and agency insolvencies are NOT covered reasons for insurance collection. Therefore, no coverage is provided.

American Express Platinum and Gold Cards

It often seems that American Express’ premium cards offer an endless array of benefits. However, we were pretty surprised to find that trip cancellation and trip interruption insurance is not one of them. Therefore, no coverage is provided.

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Award-winning travel writer and economist Paul Rubio is a credit card enthusiast, whose sophisticated use of points and rewards has helped him travel to 125 countries for free. Paul is a Harvard graduate with a master’s degree in public administration and a master’s degree in economics. He also holds a bachelor’s degree from Boston University with a double major in economics and environmental policy and a minor in conservation biology. He attended both undergraduate and graduate schools on full scholarships. Paul worked in the field of wildlife conservation before embracing his writing talents full-time in 2008. Since then, he has won more than two dozen national awards for his exemplary work in travel journalism. The prolific writer contributes to a number of top-tier international, national, and regional publications including Condé Nast Traveler, Fodors.com, Palm Beach Illustrated, Private Clubs, and Robb Report.