Canceling or interrupting travel plans can be stressful, but credit card trip cancellation insurance could help ease some of the strain by covering up to 75% of nonrefundable trip costs if cancellation occurs for covered reasons. Some premium cards such as American Express’ Platinum Card provide this benefit and reimburse up to 75% of nonrefundable trip costs if trip cancellation occurs for covered reasons.
Chase Sapphire Preferred®
The Chase Sapphire Preferred is one of the premier travel credit cards, boasting an intuitive rewards program. For instance, cardholders can earn 2X points on hotel and rental car bookings made directly with card travel partners and can also collect 75,000 bonus miles after spending $4,000 within three months – equal to at least $937 when redeemed through Chase’s travel portal.
Plus, this card provides travel protections such as trip cancellation coverage that reimburses up to $10,000 of expenses already incurred; primary rental car insurance that applies only if all rental charges are charged directly onto your card; access to over 1,000 airport lounges through Priority Pass network and reimbursement of $100 every four years for Global Entry/TSA PreCheck application fees charged against it; extended warranty protection.
American Express® Gold Card
American Express travel cards feature unique perks, including trip cancellation insurance. This benefit reimburses prepaid and nonrefundable expenses in the event that a trip must be canceled due to inadvertent circumstances, such as severe weather or illness, with reimbursement being processed quickly once documentation is submitted from third parties for your claim submission.
Other benefits include car rental insurance that protects against damage or theft and Global Assist to coordinate services in case something goes wrong while traveling. With its generous welcome bonus of 60,000 Membership Rewards points for spending $6,000 within six months on dining purchases alone (plus an annual dining credit of $120 and four points per dollar at U.S. supermarkets!), American Express Gold Card boasts one of the highest annual fees among travel cards; however its transfer partners make this worth your while!
Be mindful that credit cards with these features should not serve as replacements for comprehensive coverage provided by standalone policies. For more information on the specific terms and conditions of each card, visit their official websites or get in touch with customer service.
Capital One® Quicksilver® Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card is an ideal choice for fee-averse cardholders seeking easy rewards management. Earning 1.5% flat-rate cash back on every purchase without expiration or redemption limits makes this card invaluable in any credit card arsenal. Plus, with travel perks and purchases protection features as added perks it makes an invaluable addition.
This card provides up to $1,500 of coverage per trip for nonrefundable prepaid travel expenses in case of an emergency, such as natural disaster or illness. You’ll also get up to $100 in baggage delay coverage and no fraud liability on covered lost or stolen cards.
Contrary to some cards, this one does not charge foreign transaction fees, making it an ideal companion for international travel. Furthermore, this card works equally well on its own or when combined with others that provide higher earnings in specific categories of spending.
Bank of America® Travel Rewards Credit Card
Bank of America Travel Rewards credit card is one of the best cards for travelers without annual fees, offering a straightforward earning structure, generous sign-up bonus and traveler-oriented benefits. No airline or hotel brand restrictions exist and points can be redeemed against statement credits such as airfare, hotels, vacation packages, car rentals, cruises baggage fees zoo tickets restaurant purchases takeout etc. Each point earned can be worth 1 cent when redeemed towards travel expenditure; alternatively they can also be exchanged for gift cards and cash rewards.
Travel cancellation insurance provides up to $2,500 reimbursement of nonrefundable travel expenses not refunded by premium cards like Chase Sapphire Preferred. Though less comprehensive in scope, this coverage could offset annual card fees and annual membership dues. Please refer to your card’s Guide of Benefits for details of limits and limitations of coverage.
