Hello THFers! So we have a situation. We had a cruise scheduled at the end of August for us and our five kids and their spouses, so six cabins. Wife used her Carnival Cruise credit card to pay and we paid off the balance back in April. The cruise line cancelled the cruise and offered either (1) reschedule with $600 on board credit for each cabin, or (2) get a full refund. Wife said, "what if they go bankrupt, we could lose our money and the credit?" OK, so get a refund - which is what we did. Now she has a ~$5K credit on her credit card and we're wondering if Carnival still goes bankrupt - what happens to our "credit balance"? The Carnival Card is through Barclays. Do you think it's safe to leave that credit balance or should we ask for a check? She loves to cruise, so we may try again next year but I don't know what to think. Could Carnival Cruise Lines go bankrupt? What would you do?

Cash out put it in savings.

That is probably a branded card, meaning it's issued by a bank somewhere. It's probably on the back of the card and should be on your statement somewhere. Likely it's issued by Barclays, if it's a mastercard.

Have them send you a check or transfer

With the current status of travel, I would get my money and run, if they go bankrupt their cards may be part of it.

Usually they will issue a check after 90 or 120 days if you do not use the card.

This. You really can take it to the bank.

As others said, by any means you can, get your money.

Cash draws on credit card usualy have a fee. Your credit card provider could answer that question.

You could use that card to pay bill or buy everyday items, like food, utilities etc. You just the discipline to save todays cash. In fact if you usage points or cash back, coild be postive cash flow.

I dont have a debit card. Charge everything and transfer funds lnline. Never carry a balance.

Carnival doesn't own the card, Barcaly's does. It will be just like when Cabela's bought BassPro and they "end of lifed" the Cabela's cards. Worst case you'll get a new card issued, and it will have same balance (positive or negative).

My wife would take care of that balance in short order. I would not have time to figure out how to turn it into cash.

You credit is safe, it is with Barcaly's, not Carnival.

Viking offered us 125% to reschedule within 2 years or a full refund. We went with the full refund and it took a few months.

We ran into this same thing with a Hawaii trip that got canceled. Citibank wired the positive balance to my checking account. I then moved that into a savings account at a credit union that has my truck note. Will use the money to rebook Hawaii once things fully reopen.

It's a Barclays card. They aren't going to go bankrupt, so you don't need to worry about what happens to the cruise line. They should also give you a check or wire for free. Your call what to do, I would try to get some. Kind of return on the money, rather than let them hold it.

Well articulated.

I had this happen with my Royal Caribbean cruise, and my RC BOA card. I was refunded my money to my card, and then had them transfer it to my savings. I never use that card, and I'm not gonna let anyone hold my money.

Most CC/Banks require it in writing when requesting they cut you a check for a balanced owed - some allow it through their online chat, some via e-mail, and some want an actual letter. Once you've made the request they have something like 10 business days to issue it. Otherwise - generally they'll issue a refund in the form of a check around the 90-120 day mark.

Show Me My Money...figure out how to request a check/wire transfer from them as others have said

I had a $3750 credit on a card when we cancelled a trip in March. We just left the balance and used the card like normal till the positive balance was gone. Like others have said, you aren't in jeopardy of losing your money.

Yeah, I had to call. I bank with the same bank as the CC, so it was there in 4 days as a transfer.

I'm waiting for the cruise refund to hit our card. I suspect Norwegian will run it all the way out to the 90 refund period., It's on a Chase card that gives 3% back on travel purchases...since its been almost 8 months since the charge was made. I wonder if Chase will catch it, and deduct the cash back points?