StubHub Launches Loan Payment Option Ahead of Super Bowl LIV
Super Bowl tickets are available for exorbitant prices, causing some fans to opt-out of the big game day. However, ahead of the match-up, secondary ticketing site StubHub unveiled its new loan option, allowing fans the option to pay for the event in monthly installments.
While the installment option will be available for any type of event, the ticketing company is gearing the launch of the service around the Super Bowl. Users now have the option to make monthly payments on expensive tickets, rather than paying in-full at checkout, over as long as a year. The monthly payment option ranges between interest rates of 10% to 30%, varying based on the buyer’s credit score, and can be used on purchases between $99 and $17,500.
Right now, Super Bowl LIV tickets on StubHub range from $4,449 to $16,500. With an installment loan, however, those tickets could be purchased for a cheaper price, set to be paid off over three, six, or twelve months.
StubHub partnered with the point-of-sale loan service Affirm Inc., which allows fixed monthly payments and no late fees. Both StubHub and Affirm believe that their loan option is more beneficial than stacking money on a credit card, noting in a press release that credit card debt is at an all-time high and “many consumers are looking to kick off the new year with better financial habits.” Affirm reportedly sends “friendly texts” to reumind customers when a payment is due and officially reports the loan as delinquent after 90 days.
“Whether it’s dancing in the front row of your favorite band’s show or cheering on your team at the championship game, these experiences can create lifelong memories,” Affirm’s chief commercial officer Silvija Martincevic said in a statement. “We’re excited to partner with StubHub, the world’s most trusted marketplace, to bring flexible payment options to fans across the country.”