Website allows travelers to buy airline tickets in monthly payments
Travelers can now pay for their plane tickets in monthly installments. CheapAir.com has teamed up with financial services company Affirm to allow travelers to take out three, six and 12-month purchase plans to cover their airfare.
After selecting flights through the CheapAir.com website, customers can choose to make monthly payments on the checkout page. The option requires customers to provide their name, email, street address, date of birth, cellphone number, and the last four digits of their Social Security number to allow Affirm to run a credit check. The check, according to the company, will not affect a customer's credit score. The interest rates on the loans range from 10 to 30 percent APR.
According to Jeff Klee, CheapAir.com CEO, there is no limit to how many tickets a customer can request for financing, however financing is only available for tickets that are $100 or more.
The new payment method is aimed at travelers who do not have a credit car and can not afford their trip.
The website also allows customers to pay with Bitcoin and cash through Western Union.