Get money back on broken purchases with certain credit cards

My mom sent me a link from Gary Leff in May discussing how Luxury Link, a website that helps people get deals on luxurious properties worldwide, has closed for business. Gary quotes an email from a reader that states:

Dear Consumer:

Effective immediately, Luxury Link LLC aka Luxury Link Travel Group has ceased all operations and entered into a General Assignment for the Benefit of Creditors (ABC), following which all of its assets will be sold. As a result, Luxury Link will not be able to honor the travel you have booked through it. We suggest you contact your credit card issuer for your options regarding any charges to your credit card. You may also want to contact the destination property directly to see what arrangement you can make with it. As Luxury Link is no longer operating, it will be unable to assist you in rearranging your travel plans or obtain a refund.

You will be receiving further news regarding the ABC in the next few weeks. Until then, no further information will be available.

Luxury Link Management

Despite this, the website is still running and you can make new bookings that will not be honored in the future.

This is a good lesson on how you can use your credit cards to get money back in situations like these. The Chase Sapphire Preferred has a provision in its membership benefits guide that states:

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Screen Shot 2015-07-11 at 9.04.06 AM

 

In this case with Luxury Link, it was the last reason, “Financial Insolvency” that caused the services not to be rendered so you could make a pretty good argument with Chase to get reimbursed, provided the purchase was posted no more than 60 days before. That is usually the kicker, since you might buy these things months in advance. If you do, you will not be able to get purchase protection.

Many credit cards have benefits like these so it’s definitely worthwhile to know them when you sign up.

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