Booking those airline tickets well in advance can save you money, but sometimes they can be quite expensive and you may not have the funds available to make that kind of payment upfront, making you wait for a while to book. And that could mean the ticket can get twice as expensive!
Although a lot of people may have plans with their credit card companies to make monthly payments, not everyone does. You can visit CheapAir that has partnered with Affirm to offer a payment plan for flights and hotels booked through their website.
Rather than paying the costs as a whole, you can finance that trip by splitting the costs over 3, 6, or 12 months. And depending on your credit situation, you will qualify for a loan with a 10%-30% APR.
Monitoring your prices and making a sensible purchase is important if you qualify for the shitty 30% APR. Websites and apps like Skyscanner, Hopper and Kayak gives you an estimate to either wait for a better price or buy outright. Although these may not be accurate, you could be still saving money by monitoring the prices using multiple assets.
The financing plan doesn’t just cover flights, but also your entire trip. Set a travel budget and apply for a loan. If you’re approved, then you’ll have 21 days to book all those things through the site. When you’re done, you select how long you would like to spread the payments out for with exact dollar amounts associated with each payment so you know what you’re getting into.
You can payoff your loan early to avoid interest fees. All in all, do your research in terms of how much you will pay Affirm including interest, how it will affect your credit score, and what is the cost of travel outside of this loan. It could be better to charge all this on a low-interest credit card where you’re earning points.