The Best Credit Cards to Get Your Money Back Once an Airline Shuts Down

No one wants to think of the possibility that the trip they have been planning for some time has been destroyed, but that is just what happens for many people.

This year there have been plenty of airlines that have just gone out of business, shut their doors and left thousands of customers without an option for their airfare needs or left them stranded in the middle of a trip.

Have you ever considered what you would do if this were to happen to you? Not only would your travel plans be destroyed, but also how much money would you be out on the tickets you purchased. If you are the only one flying, it could be hundreds of dollars. If the family was going on a trip, the loss could be in the thousands.

There is a way to get some of your money back. Make sure you paid for the tickets by credit card.

The best credit card companies have what is called a chargeback feature. This is when you can call the credit card company that you charged the tickets through, tell them you did not receive your tickets, and that since you were unable to use the service that you want to file a chargeback.

The way a chargeback works is that the bank that has issued your credit card will go after the company that has charged you for the service that you did not get. While you may be thinking that the company has closed, so there is no way to get them to pay it back, closed doors does not mean there is nothing in their bank account.

When a company closes, there will be plenty of accounts and assets that have to be sorted out. By letting your credit card company know you did not get what you were promised they will go after the closed company's bank accounts and assets to get the money back. They should also be willing to credit you the money you are out quickly, while they work through the chargeback process to get the funds returned. This is a much better option than you trying to go after the company for the monies your lost as that could take months or years.

It is important to note that this is only for when the company did not give you what you purchased. If you were just late and missed a flight, you cannot file a chargeback.

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