trip gain

Future Travel Credit

What is Future Travel Credit?

Future Travel Credit (FTC) is a form of compensation provided by travel service providers when a trip is canceled or postponed. Instead of issuing a refund, the provider offers a credit for the equivalent amount, which can be used toward future bookings within a specified time frame. This has become especially common in the post-pandemic era to offer travelers flexibility and retain customer loyalty.

 

For businesses, FTCs help maintain the value of unused bookings and reduce financial losses due to travel disruptions. Companies can track and apply these credits across departments to ensure that travel budgets are optimized. Platforms like TripGain streamline the management of these credits, helping organizations use them efficiently before expiration.

 

FTC policies vary by provider, including validity period, rebooking conditions, and eligibility. Businesses should maintain clear records of all FTCs and integrate them into their travel and expense systems to avoid missed opportunities and expired credits. This approach supports sustainable travel spending and policy compliance.

Examples In Corporate Travel And Expense
1.
Flight Credit From Rescheduled Meeting
A Sales Executive Cancels A Flight Due To A Rescheduled Meeting And Receives A ₹20,000 Future Travel Credit From The Airline.
2.
Rebooking Hotel With Prior Ftc
A Company Rebooks A Hotel Stay Using An Ftc Issued During A Previous Business Trip That Was Canceled Due To A Weather Event.
3.
Automated Ftc Tracking Via Tripgain
Tripgain Automatically Flags Unused Ftcs For Upcoming Bookings, Ensuring Companies Make Full Use Of Existing Credits.
Frequently Asked Questions About Future Travel Credit
1.
What is a Future Travel Credit?
It is a credit issued by travel providers for canceled trips that can be used for future bookings within a specified period.
2.
How long are Future Travel Credits valid?
Typically, FTCs are valid for 6 to 24 months, but it depends on the provider's policy. Always check the terms at issuance.
3.
Can Future Travel Credits be transferred to other employees?
Some providers allow transfers, especially for corporate bookings, but it’s subject to their individual policies.
4.
How can companies manage multiple Future Travel Credits efficiently?
Using a travel management platform like TripGain helps track, manage, and apply FTCs to ensure nothing goes unused.
5.
Do Future Travel Credits expire?
Yes, they usually come with an expiration date. It's important to monitor and use them before they lapse.