If you've already saved up the money for a vacation, then booking the trip with a credit card — and then immediately paying off that bill with those savings — is a no-brainer for a variety of reasons, from travel rewards to travel protections. And if you haven't saved up the cash? Financing the trip with a credit card could be costly, in more ways than one. But depending on which credit card you use and how you go about paying off the bill, there are ways to make it work. Paying upfront with credit when you don't have the money to cover the bill right away could have several consequences:.
In fact, as of February , the average APR charged for credit card accounts that incurred interest was Floating vacation expenses over even a few months could result in serious interest charges.
And the longer it takes to pay it off, the more interest charges rack up. Credit utilization — the amount you owe as a percentage of your available credit — is a major factor in your credit scores. The lower your credit utilization, the better. The whole point of going on vacation is to relax.
Keep the long-term effects in mind before using your credit card to pay for a vacation you can't fully afford. On the other hand, if you already have the money set aside to cover the trip, you absolutely should use a credit card for the bill — and then immediately pay off that balance.
Here's why:. Not bad. You must first try to get your money back through any other avenues open to you. However, you should be able to fall back on chargeback in the event of an airline insolvency if it's your only way to secure a refund — as long as you request a chargeback within the necessary timeframe.
You should also be able to get a chargeback if you booked a holiday through a travel agent — in the event that the travel agent goes bust before you go on holiday and the agent was not licensed by the Commission for Aviation Regulation CAR and so was not covered by the CAR's refund scheme.
The chargeback request may also need to be made within a certain time of the payment — for example with BoI and PTSB, the request must be made no later than days after the credit card payment was processed. Should you wish to request a chargeback, do so as soon as possible — even if you are well within the timeframe to make one.
Enter email address This field is required Sign Up. You will usually not be able to get a chargeback should you book a flight directly with an airline — if a Government advisory then prevents you from travelling but the flight still goes ahead. Actually, Curve is a Debit Mastercard, but I had trouble with Qatar, refusing to refund, so made a chargeback claim. Curve paid half the claim upfront, and remainder when I was successful. But given choice, Id use credit card!
Where I can, I always book flight tickets using my Amex. Initially the OTA replied that they had a huge backlog of refunds to process and that it would take at least six weeks for me to receive my funds. I completely accepted this as I empathised with the deluge of refunds requests they would have had.
I left it eight weeks then started emailing to chase up my refund. The OTA would respond each time. They would acknowledge I was due the refund but, they themselves were waiting for SQ to refund them. As soon as they received it they would pass it on to me.
I was annoyed with SQ so I contacted them directly. I was furious when SQ replied they had, in fact refunded the agent a good month prior. At this point, had I had booked with Amex I would have immediately asked them to intervene. I contacted my bank anyway and they explained that as days had passed from purchase date they were unable to help via chargeback. So, I continued to pursue it direct with the OTA. I set a deadline for 7 days for them to contact me and 14 days for them to refund me before I filed a Small Claim with the Court system.
The OTA did reply within the timeframe I specified. And provided additional information. The OTA was disputing this charge via their legal department and this is what was holding up my refund.
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