Wanderlust, a new South African startup “built for the digital age” will allow potential travelers to book flights and reimburse them before or after departure.
The company is a registered credit provider and customers will have the option to pay for their airline tickets over a period of six or twelve months. Wanderlust has partnered with several notable airlines including AirFrance, British Airways, Emirates and Delta. Local carrier Kulula is also listed.
The application process is straightforward, in order to qualify clients must be over 18, employed and have a good credit rating.
The company gives the impression that it seems very convenient, but every credit transaction has its pitfalls, you will definitely have “more money in your pocket when you travel”, but interest, administration and other charges will cost you. will be charged. beyond what you would have if you opted for cash.
Not to mention the short repayment terms, which the company says are non-negotiable.
There’s also no guarantee that Wanderlust will fund your entire ticket, which means you’ll have to spit out the rest.
How it works
Once you’ve signed up on the website, follow these steps and you’ll be off in no time:
Find a flight (on the website). Wanderlust said it offers competitive pricing for popular airlines around the world and highlights the best deals tailored for you. You will be able to see what your repayment might be over 6 or 12 months.
Once you’ve selected a flight, the next step is to apply for credit. You will need to submit the relevant financial and identity documents and then wait for approval. If successful, Wanderlust will give you a spending limit, which can be used to pay for your flight.
Once you’ve made the first payment and paid a deposit, if there is one, you can get on the plane. Wanderlust will issue a monthly debit order and deduct the money according to the terms you have agreed upon.
If successful, you can fly immediately and continue to pay for the flight later. You can pay your account at any time.
Customers can also book multiple tickets even if they haven’t paid for a previous flight.
Things to consider
Failure to keep up with payments could lead to a blacklist and ruin your credit score. In addition to the base ticket price, you will be charged the following additional costs:
- Initiation fees to set up your reservation.
- Monthly administrative fees.
- You will be charged an interest rate between 10% and 27% based on your credit score and risk profile.
Wanderlust will not allow you to extend your repayment terms. If you miss your flight, you will still be responsible for full payment.
If you don’t have enough credit to pay for the full ticket, you will have to pay the shortfall out of pocket.
Visit the Wanderlust website to register: https://www.wunderlust.travel/home