People often ask me how to get a refund when a flight goes belly-up. Belly-up covers drama from Sandy or that Nor'easter-when airlines are the ones canceling flights-to you falling ill and scrubbing your own trip.
It may be that the company placed a block â or a hold â on your card for the estimated total of your bill. Merchants use blocks to make sure you have sufficient funds to pay your bill. If youâre near your credit limit or you have a low balance in your bank account when a block is placed, your card could be declined for additional purchases. To avoid surprises at the cash register, ask your card issuer and the merchant if they use blocking.
That it is as hard to kill a bank account as it is to slay a zombie is not new news, but the various banks' policies are becoming increasingly important as more consumers switch banks. Bank of America reported a 20 percent jump in account closings in the fourth quarter, CEO Brian Moynihan recently said.