Chase has made an unannounced change to the trip cancellation benefit offered to Reserve & Preferred cardholders. Previously this benefit clearly stated that it covered trips cancelled due to financial insolvency, the terms now clearly state that trips cancelled due to financial insolvency are not covered. I’m not sure when these changes were actually made, but reader brick who tipped me off to this change says that it was published sometime after December 1st (way back machine shows that in September it was covered). Even though the terms weren’t updated until after December 1st, there is a reddit user that tried to file a claim three months ago and was told it WAS NOT covered. This is a fairly big change and something you’d definitely expect to be covered, so keep that in mind.
Bad news! The trip cancellation benefit for financial insolvency on Chase Sapphire Reserve/Preferred cards is no more. A bummer for sure, as it was quite reassuring. Any alternative options we find so far? How can we make the most of our travels now?
FWIW CNB Crystal, UBS Infinite and USB Altitude still carry this benefit
William Charles
Suddenly my neglected (free) HSBC Premier card is looking a lot more attractive! One of the few products that still has coverage (up to $1500/person) for insolvency. Reading the T&Cs, it seems HSBC pays for that insurance directly and not via MC.
[email protected]
thanks
I tried to apply for the claim late November and was declined (AtlasGlobal) In regards to the operation pause. The website stated the benefit but whenever I contacted the third party benefits claim they said it was not covered and they weren’t sure why Chase didn’t update their portal.
I wonder if Section 75 of the Consumer Protection Act would apply if a U.S. card was used to book a flight in the United Kingdom https://chargebacks911.com/section-75/
How can the terms be legally effective if they were not announced and accepted? I get paper statements and did not receive a new agreement so the most recent agreement should be the one that applies.
Pretty much every credit card agreement I’ve seen carries with it some language like: Visa and Chase reserve the right to modify or cancel at any time and without notice.
We’ll see if TPG pumps the chase card protection next time one of these airlines go bankrupt…
Since AMEX doesn’t cover it either, I guess this moves me to nearly exclusively book financially solid airlines.
Yep, time to dust off the annual reports, and… sweet Je… how do they… but those margins are so low.. (closes book).
Guess I’ll be driving across the atlantic, instead. Problem solved. Thanks, Chase!
Bummer, especially since I usually only use UR points, no way to do a chargeback. I wonder if AIG is trying to push business to Travel Guard
if its within 120 days i guess you could do a chargeback but what happens if it’s beyond 120 days? if you used your credit card, paid your credit card, but get no flight, what happens to that money ?
Time to only book last minute flights… Thanks, cHaSe!