Paying airfare ✈️ in installments?! Sign me up! Or maybe not? You decide. JUST this week, a new idea launched that would take over the travel world, whether you fly for business, personal, frequent, or maybe only in emergency-type situations.
I feel the absolute NEED to tell you about this new option. As of August 26, 2016, US customers can finance domestic or international airline tickets in payments of 3, 6, or 12 months in place of credit cards or a lump sum up front! For tickets less than $100 a piece, not all options may be available. Just go to Cheapair.com and in checkout you will be redirected to Affirm, the company handling this service.
Basically, the company claims to do a “soft” check against your credit instantly, and you’re given all the details at checkout of the monthly payments, along with interest, and total cost. The installment plan starts kicking in once you purchase but doesn’t need to be paid off before taking that flight. It’s perfect for someone needing to fly in an emergency situation that doesn’t have the immediate funds.
Is it the right fit for you though? What’s at stake for such a convenient and up and coming feature? Oh, I don’t know…just a 10-30% APR interest rate (based on your credit)!!! If you’re approved for the lower end, then the interest rate may be better than most credit cards 💳 and approval is quicker than personal loans. They also don’t charge a late fee.
HERE’S WHAT ELSE YOU SHOULD KNOW: Affirm partners with some online stores so you can finance big purchases on the web, like furniture, clothes/jewelry, etc. Check out this blog , updating the list regularly, of stores Affirm partners with.
So, what do you think? Vote now. ⚖