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Vacation Funding: Is Making Monthly Payments On Flights A Good Idea?

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Vacation Funding: Is Making Monthly Payments On Flights A Good Idea?

Vacation Funding: Is Making Monthly Payments On Flights A Good Idea?
July 07
11:27 2019

Special monthly payment deal plans on airline flights! Who wouldn’t want to hear this? Especially if you are a student or working adult on a budget.

Although many people just assume that you must pay for flights in full right out, there are different monthly flight payment plan deals currently available. The question is, are monthly payments on flights worth it or not?

To answer this question, we are telling you all about the different ways you can make monthly payments on flights. We will also go over the pros and cons of making monthly payments on flights.

Get ready to go on a nice vacation, because with the information we are about to give you, you will be able to figure out what is the most financially effective way for you to pay for flights.

#1 Way to Make Monthly Payments on Flights – Credit Card


This is the most obvious way that you can make payments on flights. By using a credit card, you can pay for your flights gradually every month when you pay your credit card bill. As appealing as this may sound, this is not the wisest decision to make financially.

One reason why using a credit card to pay for flights is not a good idea is because of how high-interest rates are on credit cards. The ultimate cost of an expensive flight, combined with the high-interest rates that paying for that flight on your credit card would cause, would be way more than the flight itself.

To make matters worse, when you use a credit card to pay for flights, there is a chance that you will not qualify for credit card points from that transaction. Also, forgetting to pay your credit card debt from a flight will cause your credit score to drop. With all these cons and little pros, it is wise to not use credit cards to pay for flights.

#2 Way – CheapAir.com


CheapAir.com is arguably the first non-airline ticket payment plan. As a partner with Affirm, CheapAir.com allows you to make 3, 6, and 12-month payment plans on flights that cost more than $100.

The interest rate on these payments depends on your credit. The interest rate range is between 10% and 30% though.

Although CheapAir.com has a credit inquiry, it is only a soft inquiry based on your credit report. Still, if you miss payments you will damage your credit score.

#3 Way – Airfordable


Airfordable allows you to book a flight through any airline. You can also take a picture of your itinerary from your favorite travel website. Once you do this you will have to put a deposit down and pay a fee of 10% to 20% the cost of the plane ticket.

You may even be able to receive instant approval payday loans while using Airfordable since they don’t do credit checks.

Purchased at least three weeks in advance, you can’t use the itinerary and e-ticket until you have completed all your bi-weekly payments. 

#4 Way – Expedia


Another Affirm partner, Expedia, also offers 3, 6, and 12-month payment plans. The interest rate on these transactions depends on your credit history, length of financing, and payment information. These things are all reported to the Experian credit bureau.

#5 Way – STA Travel


The standard payment for STA Travel is $299 per person. The rest of your balance is due 60 days before your flight leaves. STA Travel also offers select package deals that only cost $99 if you complete your payments within 60 days of your flight leaving.

College students, parents of students, and teachers can receive a payment plan that is only $49 down. Under this payment plan, you have to pay for the rest of the ticket within 60 days.

All STA Travel payment plans for flights charge a $10 service fee and a $30 booking fee. When it comes to STA Travel, there is no interest.

#6 Way – Flightlayaway.com


Flightlayaway.com allows you to make payment plans for flights and cruise ship tickets in exchange for your flight itinerary information and the website where you want to buy the tickets from. To receive your e-ticket and itinerary, you must complete your payments within 2 to 20 weeks, as that is how long flights can be on layaway.

Flightlayway.com has a one-time service fee of 15% on domestic flights and 18% on international flights. All flight tickets purchased through Flightlayaway.com also has an interest rate of 15%. Payments are either weekly or bi-weekly.

You can even use your credit card or PayPal account to pay for flightlayway.com’s services. At least in doing so, you will get the opportunity to earn rewards points.

#7 Way – The FareLock Program


United Airline’s FareLock Program allows you to pay money to lock in a flight price for three to seven days. Because flights become more expensive as it gets closer to the date, locking in your flight price early can save you tons of money.

Until you pay off your locked in flight cost, you cannot receive your itinerary. If you do not pay off your locked in flight cost within the allotted time, your itinerary will get sold again at the market. Also, you will have to repurchase your flight ticket at a newer and more expensive price.

#8 Way – British Airways 


British Airways allows you to have weekly airline payment plans combined with hotel plans, and car plans in exchange for a small deposit. British Airways also give its people up to five weeks before the allotted flight leaves to finish their payments.  

Pros of Making Monthly Payments on Flights


You benefit from making monthly payments on flights that are a long time away. This is because the closer you book a flight to its date the more expensive that flight is. Thus, if you have a trip that is next summer, it will behoove you to make arrangements to have monthly payments on a flight for that trip now.

Cons of Making Monthly Payments on Flights


One con of making monthly payments on flights includes having the opportunity to mess up your credit score. Another con of making monthly payments on flights is having to ultimately pay more than you normally would have. This is because of the addition of interest rates and fees.

What Choice Will You Make?


Now that you know everything about all the different airline payment plans and the pros and cons of monthly payments on flights, you can decide whether this is the way you want to pay for your flights or not.

If you are a student, someone with little to no credit, or struggling financially, this could be the path for you. If you are financially stable and own your own credit card, it is probably best that you pay for your flights the normal way.

To learn more about flying and airline news through our magazine, check out the rest of our blog. 

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A Global Review of Commercial Flight since 1994: the leading Commercial Aviation publication in North America and 35 nations worldwide. Based in Miami, Florida.

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