Last night we booked our trip to Ixtapa, Mexico for our friends’ wedding. Since we were flying all the way there, we decided to go a few days early and take a vacation at the same time. Two birds, one stone! Anyway, after comparing the airfare and hotel packages at every travel site on the internet, Expedia turned out to be the cheapest. After picking our dates, entering my CC info and hitting “checkout”, we were offered the chance to split our payment into two…effectively billing us 1/2 of the trip today, and 1/2 in one month. No finance charges and no fees, just half and half. I’ll take it.
So yesterday I had to pay $800 of the trip and in October I have to pay another $800. Honestly, I think they came up with a brilliant idea here; they can get people to take vacations they cannot afford because the payments are broken into 2 installments. Kind of like those furniture store deals you see on TV.
I guess a word to the wise is in order here – Take advantage of these offers if you can afford the vacation in the first place, as you can then leave 1/2 of the money you owe to earn interest in your savings account for another month. Be sure you can pay the credit card off after each payment, otherwise your vacation will cost you a lot more than just the billing amount!