It can be worthwhile to use credit cards to pay your vacation. Compare different credit cards now and find what works best for you and your family!
The number of Norwegians using credit cards continues to rise, and hundreds of thousands of Norwegians use credit or borrowed money when they go on vacation. And there are several reasons why it can really pay off to use credit cards as long as you have an overview of when the various bills are to be paid.
Consumers benefit from the so-called concept of Chargeback, which assumes that the buyer may be entitled to repayment of any expenses in situations where the seller does not follow the rights you have as a consumer, or in cases where the company goes bankrupt. This concept does not apply when using debit cards. In other words, you will be able to insure against a whole range of risks when using credit cards.
Insurance against the airline going bankrupt
In cases where airlines go bankrupt and they do not repay the money for your ticket, the credit card company will be liable to cover these expenses. In order to get your money back, you must complete a card return form, as well as attach a travel confirmation.
Every traveler should have travel insurance, another good that comes with using credit cards. It is common for a credit card to come with both travel insurance and cancellation insurance or accident insurance. Many people often choose to buy travel insurance either privately or through the travel company – which can often end up as an expensive solution.
Keep in mind that the terms of travel insurance depend on which card you choose. Read more here about which credit card is best for you.
A general rule of thumb is that as long as you pay more than 50% of your travel credit card expenses, both you and your fellow travelers will be covered by your credit card company travel insurance. Unlike full-year insurance, travel insurance through your credit card often covers trips that last up to three months.
Unfortunately, some people experience being scammed or losing their credit card. Here too, the credit card company will take responsibility and you can continue to enjoy your holiday. Your credit card company will also be responsible for covering any lost amounts if you have been exposed to situations where you are being charged more than what you have been authorized to do.
One last added benefit of using a credit card on the trip is that you can eventually take the time to review all your transactions and double check that no one has withdrawn money for something you have not approved.