Fly Now Pay Later provides travelers a chance to travel on loan. If you repay the amount on time, it will not affect your credit score.
When purchasing plane tickets for traveling, it is always best to plan so you can pay upfront. This fact also rings true for everything.
It is always better to pay cash upfront. Interest on loans and credit can sometimes be high.
And even if the interest is low, it can accumulate more significantly in the long run.
Whether you are taking a dream vacation or need to book a plane ticket urgently, sometimes, you may need more funds.
Sometimes, more than the money needed for the plane ticket is needed to book a trip.
Good thing there is a service called Fly Now Pay Later.
Fly Now Pay Later allows you to buy your tickets and pay them later for flights, hotels, and other travel expenses.
However, you might be wondering. Is this legit?
Fly Now Pay Later is a company that allows travelers to book tickets and hotels without upfront payment. It also partners with financial institutions, banks, and other travel merchants. It is real.
Let us look into all the details and discuss this service’s many advantages and disadvantages.
Fly Now Pay Later Explained
First, let us not confuse Fly Now Pay Later with deferring travel costs.
Fly Now Pay Later is a company. The company offers services allowing travelers to spread the cost of vacation over a specific period.
Of course, before a traveler can avail of this service, there needs to be approved, which involves a quick check of credit scores.
Once approved, Fly Now Pay Later will pay for all your travel fees upfront. Your charges will then happen in monthly installments.
You can split up your cost over about 12 months maximum.
Today, the interest rates can range from 9.99% to 29.99%. This interest rate is the company’s annual percentage, depending on your credit.
Also, you can use Fly Now Pay Later to pay for all your travel costs. You can use Fly Now Pay Later for the costs of your cruises, flights, hotels, attractions, and vacation packages.
Travelers who are US residents are eligible for the services Fly Now Pay Later offers.
The traveler must be at least 18 years old. If you are from Alabama and Nebraska, the age limit is higher by a year. You should be at least 19 years old to avail of the service.
Another requirement is a debit card. You must have a debit card and a mobile phone with a US number.
It is because Fly Now Pay Later services are available only through their app.
Finally, it would be best to have a driver’s license or a passport. Any of these two can serve as proof of your identity.
Remember that a debit card is the only form of payment that Fly Now Pay Later accepts.
There is also a soft credit check. However, as mentioned earlier, the Fly Now Pay Later program does not affect your credit score.
As long as you pay your installments on time, you will not have to worry about the program affecting your credit score.
Fly Now Pay Later does not specify its credit score requirements. However, the company recommends that travelers check their credit profiles before applying.
Checking credit profiles will allow the traveler to find out if there are any mistakes. It is also to ensure that the credit accounts are still fresh.
Aside from residents of the US, Fly Now Pay Later is also available to residents of Germany and the UK.
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How does Fly Now Pay Later work?
Fly Now Pay Later works through the app. You have to set up an account, go through a credit check, and choose the number of installment months for your payment. Once done, you can now purchase your vacation needs.
To start using Fly Now Pay Later, you must first download the app. Once downloaded, you need to set up an account.
When you set up a new account, Fly Now Pay Later will need to run a credit check. This check will determine whether you are eligible or not. It will also assess your credit limit and the corresponding interest rates if approved.
Once signed up, you can now use the app to find flights, hotels, packages, and other vacation necessities you wish to book.
When booking a plane ticket or a hotel, it would depend on the merchant whether you can make the booking through the app.
For example, if you are buying tickets from American Airlines, Qatar Airways, TAP Portugal, or United, you can do this through the app.
However, if you are getting other travel expenses, you have to get a virtual card that you can use to pay for your travel costs.
Once done with making your travel purchases, Fly Now Pay Later will prompt you to choose the number of installments that you would like to pay.
Sometimes, the prompt can happen while you are processing the issuance of the travel card.
Your options in terms of installments can be anywhere from two to 12 months.
The first installment payment is due a month after you finish setting up your account. The following costs will be on the same day each month moving forward.
However, you can contact Fly Now Pay Later customer support if you wish to change your payment dates.
Is Fly Now Pay Later real?
Fly Now Pay Later is a legit company. Pay Later Financial Services, Inc. provides the company’s payment options. The company also works hand in hand with a bank that is a member of the FDIC.
Fly Now Pay Later has been harvesting positive reviews from many of its customers. It currently has a 4.2 Trustpilot rating.
However, there are also negative reviews. And I believe it is normal.
Regarding its negative reviews, Fly Now Pay Later receives flack for the difficulty of contacting a representative. This problem is common when something goes wrong.
The difficulty in contacting a representative also happens when customers encounter issues using the Fly Now Pay Later virtual payment card when booking straight from travel providers.
The concept of Fly Now Pay later sounds exciting and appealing. After all, you only have to provide a deposit to book your travel needs.
However, there are many downsides to using this program.
The same disadvantages are present in Fly Now Pay Later and other similar deferred travel payment plans.
One of the most common downsides is the high-interest rate.
Today, Fly Now Pay Later can charge you anywhere from 9.99% to almost 30% on APR installments.
You can pay for a reduced interest rate using a low or no-interest credit card instead of Fly Now Pay Later. Some cards offer low to no interest rates on purchases.
Another disadvantage is the need for a credit check.
As mentioned earlier, the soft credit check is one of the steps when setting up an account.
Fly Now Pay Later conducts a soft credit check to determine your interest rates, charges, or eligibility.
Download the App
Also, you have to use the app for you to avail of the services of Fly Now Pay Later.
It has a well-designed website. However, you cannot use its services from the website. Instead, you have to get and download the app for you to avail of Fly Now Pay Later benefits.
There are also some issues recorded using the company’s virtual card.
This issue can be real when it comes to the purchase of other types of travel expenses.
As mentioned earlier, Fly Now Pay Later will issue you with a virtual card that you can use to book your travel needs.
Some travelers report issues with the virtual card. Most problems are those that the travel providers decline.
Also, there are no travel protections with Fly Now Pay Later, unlike with some travel rewards from credit cards. Some credit cards have travel protections during trip delays, delayed items of baggage, and trip cancellations.
Finally, there are no travel rewards on your purchases.
When purchasing your travel needs, you will pay a travel provider when using the services of Fly Now Pay Later.
As such, you will not be earning rewards on your purchases.
Also, Fly Now Pay Later will only accept payments through debit cards. Most debit cards do not earn rewards.
As such, you will not be earning loyalty rewards when you pay for your installments because you are using debit cards.
Does Fly Now Pay Later charge interest?
Fly Now Pay Later is a finance product. Because it is a finance product, it will offer you services on loan. You will pay for your travel expenses in installments. However, there will be an interest that can go up to 30%.
As mentioned earlier, Fly Now Pay Later is a finance product. It will offer you a loan for you to travel. And as mentioned, there will be interest rates to go with your payment.
Fly Now Pay Later makes use of several retailers for their services. You will be paying these vendors for their services when purchasing travel needs.
All you need to do is buy the travel services online, hop on a plane, and pay in installments later.
As discussed earlier, you can spread the payment of your total cost to a specific period. You can stretch your payments to up to 12 months. You can also split your expenses into three installments.
You can borrow a significant amount.
For example, you can borrow US$100 to US$3,000. The amount would depend on your credit profile. It would also depend on your travel plans.
Your booking will incur some interest. You will pay the amount in installments with interest on your payment schedules. In short, you will be paying more in the long run than if you purchase your tickets upfront.
Fly Now Pay Later has no hidden fees. It claims to be transparent to its customers 100%—the amount you see when you checkout is always the amount you will pay.
Fly Now Pay Later also has no repayment charges. It will collect your payments automatically. However, there will be additional payments that you can make at an earlier date without a fee.
The total amount you see when you check out is the full amount. It will include the applicable fees and all the interest rates.
Fly Now Pay Later will sometimes ask for a deposit on your bookings.
Now, what will happen if you cannot make a payment?
As always, there will be charges for late fees. However, if you are super late with your payments, the company might only accept you if you try to use their services again.
Fly Now Pay Later is an exciting service. It is also attractive.
Imagine going on your travels without paying for your costs first. Note, however, that there are several disadvantages when using Fly Now Pay Later.
There is a disadvantage to paying high-interest rates. There is also the downside of not earning loyalty rewards or not getting travel protections.
If you are okay with these downsides, Fly Now Pay Later is a good option.
If you urgently need plane tickets and do not have better alternatives, Fly Now Pay Later is the company to use.
Make sure to choose realistic payment options. Because doing so will balance minimizing interest and avoid late payment fees. It is for your good.