Planning a vacation is always exciting, but the financial strain it can impose is a common concern.
Many travelers find themselves maxing out their credit cards to fund their getaways, leading to significant debt that lingers long after the trip ends. In fact, a recent survey revealed that 36% of Americans are willing to incur debt for summer travel, with some planning to charge $5,000 or more on their credit cards.
Carrying such balances can be costly, especially with the average credit card interest rate hovering around 20%. This means that financing a $5,000 vacation on a credit card could result in nearly $2,000 in interest over time if only minimum payments are made.
To address this financial challenge, Luxis Events has partnered with Affirm, a buy now, pay later service, to offer travelers a more manageable payment solution. Starting April 1, 2025, Affirm will report all pay-over-time loan products to Experian, allowing users to build their credit history through responsible borrowing.
By booking trips through Luxis Events
and choosing Affirm at checkout, travelers can spread the cost of their vacations over several months without the need to max out their credit cards. This approach not only alleviates the immediate financial burden but also provides an opportunity to enhance one’s credit profile through timely payments.
Here’s the truth, while the allure of travel is undeniable, it’s essential to consider the financial implications. Utilizing flexible payment options like Affirm through Luxis Events can make your dream vacation more accessible and financially sustainable, allowing you to explore the world without compromising your financial health.
