JetBlue Airways today announced it was partnering with Marcus by Goldman Sachs to offer a way to finance flights and vacation packages over time.
MarcusPay is a no deposit, no-fee, fixed-rate point-of-sale installment loan option that allows customers to pay for larger purchases over time. JetBlue, the platform's inaugural partner, launched MarcusPay earlier this year exclusively for customers booking JetBlue Vacations packages bundling flights with hotels.
It's not a traditional layaway plan. You will have to apply for a MarcusPay loan through an application process at jetblue.com or jetbluevacations.com. But the upside is once you book your trip you're protected against rising, fluctuating prices.
MarcusPay can be used for trips from $750 to $10,000 and customers can see their loan options within minutes. Customers will know how much they'll pay and for exactly how long, with no fees, no up-front deposit required, and a fixed interest rate. The first payment is not due until at least one month after the trip is booked. MarcusPay loans are provided by Goldman Sachs Bank USA.
"With MarcusPay, we're adding more flexibility and simplicity to the JetBlue travel booking process," Andres Barry, president, JetBlue Travel Products, said in a statement. "JetBlue is excited to be the inaugural partner for MarcusPay and provide our customers with an additional way to finance their trips when the time is right. Marcus by Goldman Sachs and their latest offering is part of a transparent customer journey. Customers lock in a fixed rate and the opportunity to pay over time, removing some of the hassle and added costs of planning a vacation."
"MarcusPay gives customers a smart alternative to financing large purchases," said Elisabeth Kozack, head of Consumer Lending Partnerships at Marcus by Goldman Sachs. "JetBlue is a terrific partner for MarcusPay. They remain focused on delivering against their customers' needs and providing transparency, which helps them deliver a differentiated customer experience for travelers. We're thrilled to have MarcusPay be a part of that."
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