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Can I Protect My Credit Card Reward Points?

I read that no insurance company will reimburse points, rewards, etc. I used reward points from my credit card to pay for my cruise. If the cruise is canceled, the points will probably be reposted back to my credit card. But here is the problem: the credit card discontinued the reward program as of 1-1-09. So any points posted after the day will lose all (or most) of its value and I will not be able to use them in the future. How do I make sure I will not lose in this situation? Alex

Hi Alex,

Your dilemma is one of the risks of using a rewards program. Personally, I think the best business decision is to honor your accumulated points for future trips, but your credit card company probably doesn’t see it this way.

Since your credit card is discontinuing their reward program, then there is no way I can think of that you can protect yourself from losing out if you had to cancel or interrupt your trip. In other words, a cruise, trip or travel insurance plan cannot cover you for anything related to your cruise’s cost.

I’m sorry I don’t have a better answer for you.

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