Customers can prequalify for a travel budget and book components of a trip over time
CALABASAS, Calif., July 17, 2019 /PRNewswire/ -- Online travel agency CheapAir.com today announced an expansion of its travel budgeting tool in partnership with Affirm, giving customers the opportunity to prequalify for a travel budget and then book and pay for all elements of their trip over time.
"This is a new way of shopping for travel," said Jeff Klee, CEO of CheapAir.com. "Now, travelers who can't afford or don't want to pay the full price of their trip right away can pick a budget based on monthly payment amounts for that budget, get qualified upfront, and then have three weeks to select flights and hotels that match that budget. The process is completely transparent, with no hidden fees at any point."
To see if they qualify, customers only need to provide five simple pieces of information1 and a credit decision is made within seconds. Once approved, travelers have 21 days to build out their trip, including flights, hotels and other ancillaries. As customers add to their itinerary, the cost will be deducted from their total travel budget so they always know how much they have left to spend. After a trip is planned, travelers can choose to spread out the total cost over 3, 6 or 12 monthly installments at 10-30% APR2. Monthly payments are shown in real dollars instead of hard-to-calculate percentages, so travelers will never pay a dollar more than what they agree to at checkout.
"As travel has become a bigger part of consumers' lives we want to make it even easier to plan great trips while staying within a budget," said Max Levchin, co-founder and CEO of Affirm. "We're excited to make this expanded payment option available to millions of CheapAir.com customers."
According to a 2018 survey conducted by Affirm, 57% of Americans said planning travel causes them stress and money was the primary source. CheapAir.com's expanded partnership with Affirm removes that stress by providing transparent and flexible payment options that let travelers plan and book trips now, worry-free.
To try the travel budget experience, visit CheapAir.com and click "See if you qualify."
Headquartered in Calabasas, CA, CheapAir.com is powered by a team of 50+ travel enthusiasts who use cutting edge technology and superior customer service to simplify the way people shop for travel. Our proprietary airfare shopping engine provides an easy-to-understand view of flight and fare options from across the web, to make trip planning easy and joyful. Only CheapAir provides full apples-to-apples comparisons so you can see and book across different airlines and different flights, not just the lowest fares, but also the best value flights based on quality, comfort, and inflight amenities. For expert travel advice, deals and inspiration, connect with us on Facebook or Twitter.
CEO Jeff Klee started CheapAir.com in 1989 from his college dorm room after getting a crash course in the airline industry while planning a backpacking trip through Europe on a student's budget. CheapAir.com still takes a creative approach to helping travelers to find the best trips. Along with its sister company, Amtrav for Business Travelers, CheapAir has helped over five million people buy plane tickets with confidence.
Affirm was founded with a goal to create honest financial products and services that empower consumers and improve lives. Our goal is to revolutionize the banking industry to be more accountable and accessible to consumers. Today, Affirm provides millions of shoppers an alternative to traditional credit cards at the point of sale, giving them the flexibility to buy now and make simple monthly payments for their purchases. Unlike payment options that have compounding interest and unexpected costs, Affirm shows customers upfront exactly what they'll pay each month — with no hidden fees and no surprises. Affirm partners with over 2,000 merchants to give shoppers the option to pay with Affirm at checkout including well-known brands across retail including home furnishings, travel, personal fitness, electronics, apparel and beauty, and more. Loans are made in partnership with Affirm's originating bank partner Cross River Bank, Member FDIC.
1 Affirm only needs five pieces of information for most credit decisions: name, phone number, email address, date of birth and the last four digits of their social security number.
2 For example, if the total cost of a trip was $3,000 spread out over 6 months at 15% APR, the traveler would pay $522.63 per month, totaling $3,135.78.