CheapAir.com now lets you pay for airfare in monthly installments

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CheapAir.com and Affirm have teamed up to offers users monthly payment plans to cover their airfare.

This changes everything.

If you’re ever tight on cash and need to buy a plane ticket, CheapAir.com has your back. The company announced today that it’s teaming up with Affirm to allow travelers to choose from three, six and 12-month purchase plans to cover the cost of a plane ticket.

Kathryn Vasel of CNN Money breaks down how it works below:

After selecting flights on CheapAir, customers can choose to make monthly payments on the checkout page. They have to provide their name, email and street addresses, date of birth, cellphone number and the last four digits of their Social Security number to help Affirm run a credit check. The check will not affect a customer’s credit score.

The interest rate on the loans are based on credit worthiness and range from 10%-30% APR.

Apparently, this isn’t open to everyone. You’ll have to have some credit established, but luckily, travelers get an approval within a couple of seconds. Users can request as much tickets they choose to finance, but at the time being, financing is only available for tickets that cost $100 or more.

► CNN Money

Kevin Raposo

Kevin is KnowTechie's founder and executive editor. With over 15 years of blogging experience in the tech industry, Kevin has transformed what was once a passion project into a full-blown tech news publication. Shoot him an email at kevin@knowtechie.com.