American Express U.S. Consumer Card Members Can Now Book Flights and Pay Later with Plan It® on Amex
Amex Trendex data shows 69% of consumers want to book a trip now while prices are low, and 54% of Millennials are interested in using a buy now, pay later feature for travel
New York, NY - WEBWIRE - Thursday, May 13, 2021
American Express U.S. Consumer Card Members can now book flights at AmexTravel.com and pay later using Plan It® at checkout. Integrating Plan It directly into the checkout experience will provide Card Members more payment flexibility for flight purchases of $100 or more, giving them the option to pay in monthly installments with a fixed monthly fee before they make the purchase. Plan It will be added to the checkout experience for prepaid hotel bookings on AmexTravel.com later this year.
"Plan It has become a popular tool for many of our Card Members - particularly among Millennials and Gen Z - who want to easily manage their purchases in a simple and transparent way, from a brand they know and trust," said Shikha Narula, VP of U.S. Consumer Lending. "With travel bookings on American Express Travel up 50 percent sequentially in the first quarter, and vaccinations accelerating, it's a great time to make this feature available for booking travel on AmexTravel.com."
At AmexTravel.com, Card Members can now select Plan It at checkout as a payment option when they purchase flights, which allows them to better manage the overall costs of their trip by choosing to pay in monthly installments. Additionally, Card Members can use Plan It after they make a qualifying purchase of $100 or more wherever they shop - both online and in store. Plan It is built right into American Express U.S. Consumer Cards and managed directly from the American Express® App or their online account. No additional applications or lines of credit are required when using Plan It.
The Amex Trendex1, a monthly trend report from American Express, demonstrates consumers' appetite for booking their next trip now and having more options when paying for travel purchases.
Payment Flexibility Gives Travelers Peace of Mind
The Amex Trendex1 shows people are looking for deals or flexible payment options to pay for their next trip including buy now, pay later features (36%). In fact, 62% of Millennials surveyed are interested in a buy now, pay later offering that comes with their credit card, such as Plan It, which enables Card Members to pay for larger purchases in monthly installments, with a fixed monthly fee.
Travel Is an Instant Mood Booster
The majority of consumers surveyed (76%) agree that they instantly feel happier the moment they book a trip and compare the feeling to securing a hard-to-get dinner reservation (60%), getting a puppy (58%), or earning a promotion (54%)1. Travel plans can boost productivity as 62% of consumers say that having a vacation to look forward to makes them more motivated at work.
Longer Trips and Outdoor Activities Make People More Comfortable
Longer trips are making a comeback as 66% of consumers surveyed plan to travel for one to two weeks for their next trip1. When they travel, many consumers are prioritizing outdoor destinations such as relaxing on the beach (23%), exploring the great outdoors (21%) and reuniting with friends and family (30%). While 39% of adults say they are vaccinated and feel safe to travel, they feel more comfortable avoiding big crowds and are spending more time outdoors. Nearly half of consumers indicate that they will travel on weekends adjacent to upcoming summer holidays such as Memorial Day (46%), Independence Day (41%) and Labor Day (47%) instead of during these weekends to avoid crowds.
What is the Amex Trendex?
The Amex Trendex is a trend index that tracks how consumers, small businesses, and merchants are feeling about spending, saving, traveling and more. Data will be sourced on a monthly basis in the U.S. and bimonthly globally, including in the U.K., Australia, Japan, Mexico, India and Canada.
Amex Trendex Methodology
1This Amex Trendex online poll was conducted by Morning Consult between April 13-15, 2021 among a national sample of 2,000 general population travelers with a household income of at least $70K and defined as adults who traveled by air at least once in 2019. Results from the survey have a margin of error of plus or minus 2 percentage points.
About Plan It®
American Express first introduced Plan It in 2017 and expanded it to most U.S. Consumer Cards in 2020. Plan It gives Card Members a simple and transparent way to pay for purchases of $100 or more in monthly installments, with a fixed monthly fee. Card Members can create plans for purchases made wherever they shop, whether it's online or in store, once posted to their account. Plan It is built right into American Express U.S. Consumer Cards and managed directly from the Amex App or their online account with no additional applications or loans required.