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Book Now Pay Later Flights | Klarna |Afterpay | Paypal Credit | Black Twitter Reacts - YouTube
Channel: Work Hard Travel Well
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so earlier this week on black twitter
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the timeline went into chaos
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when people started to talk about book
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now
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pay later options for flights and i was
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just there reading my timeline
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so what brought about this chaos on the
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timeline this week
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so this is the tweet that started it
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earlier this week and it comes from
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klarna
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which if you aren't familiar it is a buy
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now
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pay later option and they tweeted us on
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our way to the airport
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after buying flights with clarna and it
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turned out to be like a division between
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those who turned their nose up against
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buy now pay later payment plans for
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flights
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and there were some people who didn't
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know about it there are some
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people who were just like you know
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ecstatic about
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it at underscore big o underscore tweets
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flight's taking klarna i'll see y'all in
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dubai
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and so forth these tweets ensued
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me at jfk after booking my world
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tour using klarna and since this came
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about earlier this week it had me
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thinking like
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what is you know all the hoopla about
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all of a sudden
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i've always known about you know book
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now pay later options
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but i wanted to talk to you about really
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quickly what are some book now pay
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letter options for travel and for
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flights
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[Music]
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if you're new here my name is kim and
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i'm the creator of
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workheartravelwell.com and on this
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channel i talk about
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travel tips lifestyle and tech tips for
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busy professionals
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so go ahead and subscribe to this
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channel and turn on the bell for
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notifications i post weekly videos so
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you don't want to miss them
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some options include klarna affirm
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paypal credit and afterpay and this is
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just
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looking at some providers a few that
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do a book now pay later options and
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it really depends on what the airline
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accepts
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most of the airlines i've seen take
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majority of paypal
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credit and then you can use klarna
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app to pay for some of the travels and
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some of the flights
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on klarna on the app you can basically
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make purchases on the app
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and use a one-time card they also
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partner cloner also partners with
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expedia to allow you to be able to make
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purchases
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so i downloaded the app and how it works
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is that
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you are able to add a one-time card that
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lets you split your purchase into
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smaller payments at any online store so
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this is an example of when i clicked on
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expedia was already loaded into the app
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and i chose a flight as you can see at
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the top
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and basically when you're ready to pay
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you
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create a one-time card and then you
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choose
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any of your payment methods you can even
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choose a travel credit card
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and are an american express or regular
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credit card
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and then select to pay by credit card
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and use your one-time card
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so with these options you have to have a
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minimum or
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minimum of a hundred dollars they all
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work in a similar fashion you're able to
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split payment over about
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usually six months similar with all of
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these methods
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the interest doesn't kick in until like
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the six month period is over
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and if you don't pay your balance by
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that six months
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into the six months you have to
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basically pay the interest and it goes
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all the way back to the beginning of
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when
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you basically made the purchase with
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afterpay you have to pay like a fee if
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you're late so it just depends
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i would encourage you to look at which
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options there are
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and consider that before you jump on it
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i know it's very
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tempting to like see that flight deal
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and want to jump on it
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but you have to kind of consider the
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pros and cons
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while you're here check out the travel
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well store which is a travel theme store
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with apparel accessories and home items
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use code youtube for free shipping if
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you
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do not want to use clarinet one thing
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that's been around for at least a while
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in
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american express is a planet option
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and you're basically able to make that
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purchase on your american express
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and you break the payments up on that
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large purchase
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over several months and you are charged
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a fee based on how much the purchase is
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and
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other different factors and chase
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actually started the
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my chase plan in 2020 so that's another
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option
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so you have to kind of consider do i
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want to do a buy now pay later
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or if you already have one of these
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credit cards
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consider doing a plan with your credit
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card since you already have
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history with that credit card issuer so
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these are just the two that i know of
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you definitely want to check with your
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credit card issuer
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if you want to see if there is a plan
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available to you
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like i mentioned before you definitely
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want to pay attention to the fees
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and to like the interest rate
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the apr the annual percentage rate on
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klarna
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is 19.99 at the time of this video
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and the promotional period i mentioned
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earlier is six months
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so you have to pay that balance off
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in six months at the end of the six
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months you'll be
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charged 19.99 against that balance but
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going to the original purchase
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paypal credit is an option it is 23.99
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and it also has a six month promotional
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period paypal
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credit is actually an option i saw most
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of the
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websites went through the checkout
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process tested it out on delta
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and of course you can always pay with
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your delta amex or any other credit card
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but
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if you would like to use paypal credit
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there is an option to
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basically be redirected to paypal and
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towards the bottom it says paypal credit
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is now
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available through your paypal wallet
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paypal credit
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which is basically no interest in six
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months and
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subject to credit approval and also i
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went through the process with southwest
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it basically has it so
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that when you check out as well you just
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toggle to
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the right of the credit card debit card
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option
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and click hit purchase with paypal and
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you'll be
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directed to paypal and you can choose
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the paypal credit option
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keep in mind as all of these options are
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subject to credit approval
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understand that it's going to pull your
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credit
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and credit history and what you're
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approved for and things will depend on
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that so that's with
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any of these options that you use okay
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so back to
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the interest rates and fees amex travel
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credit card if you were to use that or
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any amex but
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i would prefer to use a travel credit
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card so
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that i can basically get bonus
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points for purchasing on an amex travel
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credit card
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but i mentioned earlier that mx american
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express
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has the plan it option there's not an
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interest fee
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but they charge a monthly plan
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fee which is 0.61
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to 1.17 of the purchase the duration
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depends
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on a few factors depending on your
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credit and things like that
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i will show you that american express
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has
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a plan it calculator so you can go ahead
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and see
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what that would look like if you were to
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do it
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so let's just say you purchased a
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600 flight out of the country and you're
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using the american express
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and you want to break it down into six
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payments
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it shows you that you're going to be
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making a
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payment of 104.98 for six
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payments and 4.98 for each
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payment so your total cost is
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you know if you pay it in six months
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you're only paying
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29 and 88 cents above the original cost
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if you were to break it even more
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further down into
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12 months you see the increase of 60
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dollars and 12 cents
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more than the initial six hundred
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dollars and
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ninety dollars if you break it into 18
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months but this is just an example
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and if you pay early you're not going to
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still be you know responsible for these
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fees
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so this is a a way i really like that
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you can do this calculator to kind of
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determine
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and then going back chase has the my
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chase plan is new it started in 2020
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and when i went to the website it was
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very vague on
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what the actual apr would be or what the
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actual
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monthly fee would be it was just saying
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that it's based on the amount and the
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duration of the plan and you can plan
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anywhere from three to 18 months
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so basically what i'm telling you is to
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compare
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the to the interest rate any
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late fees any monthly fees and look at
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how long the period is for you
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to be able to pay that off this is not
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an all-inclusive list of how you can
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book now pay later
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flights because you can go directly to
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like booking.com expedia.com you can go
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directly a lot of these companies are
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offering
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book now pay later flights because what
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a year
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we've had with being able to travel so
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this is a way to encourage people to get
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back out there but
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i would encourage you to basically you
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know be responsible think smart about it
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and to not get into any unnecessary debt
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than you need to
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it's not worth it here are some of my
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thoughts on
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book now pay later flights and using
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some of these methods
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with klarna pro is that you do not have
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a hard pull on your credit there's a
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soft pull but they do of course
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check your credit background to see what
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you're eligible for
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paypal credit has a hard pull and also a
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high
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apr which i mentioned earlier was
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roughly around 23.99
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that's high credit cards on the other
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hand if you decided to
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use klarna and then use your credit card
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you still have that high apr
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but if you decided to use the credit
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card to use
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a plan method which i mentioned earlier
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the apr doesn't really factor in
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unless you miss that payment plan cars
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do have a high apr
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of anywhere from 15.99 to
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22.99 and
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understand this these rates may be one
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thing at this time
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but these companies have the right to at
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any time raise the apr
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buy now pay later methods penalize you
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for not paying the full balance
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in the promotional period and if you
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miss payments you know
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if you're using klarna or any of these
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and you're using directly like your bank
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card
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i kind of prefer the security that comes
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with credit card
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i reviewed paypal credit and it stated
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like if you suspect fraud or anything
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like you have to call this number versus
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american express is really on it
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i have had issues with going through my
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bank and it's a lot more challenging to
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if there's an issue or a fraud or
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something sometimes it was a lot more
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challenging
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than just opening a case really quickly
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on my
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american express app or online and then
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also when i buy flights on
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credit cards there is a
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like built-in kind of insurance it's
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limited but it's some built-in insurance
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for
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the flights that i purchased but at the
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end of the day
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if i i really use travel insurance i'll
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link
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what i use for my travel insurance
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because it protects my
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electronics and protects just like if
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i were to get sick god forbid and if
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you're comparing it with
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klarna are afterpay or a firm versus
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using
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a travel credit card travel credit cards
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have an annual fee
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at the bare minimum or 99 but there are
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some travel credit cards
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that do not have a fee i'll link in the
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description of this video my favorite
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travel credit cards that i've been able
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to
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like benefit from the most i just wanted
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to compare
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what you have available for buy now pay
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later flights
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book now pay lighter flights i wanted to
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kind of talk about that because it was
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very interesting that this
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came about on twitter this week when
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it's been around for a while
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i think though everyone's just ready to
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get back out there and travel
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let me know which method you use and
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these are just the things to be aware of
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i wanted you to know about the two
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different methods going directly with
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the travel credit card versus
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using the buy now pay later option and
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definitely be careful
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when considering all look at all the
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pros and cons look at the
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actually click the link and read the
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terms and fees so that you don't
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get bamboozled but i'm going to do a
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video on
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how you can find you know cheap flight
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so that you
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may not have to use this book now pay
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later option
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so definitely stay tuned and subscribe
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to this channel for more travel tips
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if i missed any let me know in the
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comments and
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share this video if you found it helpful
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like and subscribe to this channel
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