In 2020, when the world suddenly ground to a halt, most people postponed or canceled all of their plans due to the coronavirus crisis.
Many were issued vouchers or credits good for a future date. Now, one year later, those credits have likely expired — or are about to.
More than half of all adults, or about 54%, who laid out money for activities that were canceled due to the pandemic already lost those funds, according to a study by Bankrate.com.
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Fewer received partial refunds, although it varied by the type of purchase. About 35% who canceled short-term home rentals got some, but not all, of their money back.
Less than a quarter of adults were partially refunded for canceled flights, sporting events, concerts, theater tickets or hotel stays, Bankrate found.
Although many consumers accepted credit or vouchers rather than refunds, often good for up to a year, few expected it would be this long before the country began to open up again.
With those expiration dates quickly approaching, it’s a good time to check in on those vouchers, advised Ted Rossman, an industry analyst at CreditCards…