Using Buy Now, pay subsequent loans to get concert tickets

Many Americans are accustomed to dismantling the major purchases Buy now, and pay the loans later – Including tickets for Concerts and other live events.

Going to a direct concert is not cheap: Tours of adult artists Including Taylor Swift, Bionce and Bardoplay, partially motivated the high ticket prices for live events in recent years, which economists are in the direction.Funflation“

Admission fees for movies, theaters and concerts increased by 3.9 % in 12 months to June, according to the last work statistics office Numbers. Although the Federal Trade Committee changed a base in May Ticket pricing More transparent, experts say this step will not make the costs decrease.

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Almost a quarter, 23 %, from the respondents in a New survey by Lindingtree They said they used to buy now, and pushed later loans to the costs of the ceremony or the festival.

The rates are higher among young generations, with 37 % of the Z generation and 35 % of the millennial generation they say they used loans for these purposes. The site Gen Z is determined as adults between the ages of 18 and 28, and thousands of years such as those between the ages of 29 and 44 years.

For comparison, 19 % of Gen Xers, who knows the site as adults between the ages of 45 and 60 – said they used to buy now and pushed loans later for concerts, followed by 3 % of children’s children, those between 61 to 79.

Leningry said it had sought 2,050 adults in the United States in mid -June. Among them, 1047 said they are planning to attend a concert or a festival in the summer or autumn.

“It is not unusual to see General Zires and the thousands who are now using the purchase and paying subsequent loans,” said Matt Schools, the chief credit analyst at Lindingtree.

American youth are the most familiar with PushingAnd its use of it Concerts He said that he spoke to the “time of life” in which they are.

“Part of the reason I finished the debts of credit cards in my twenties was because I was going to concerts and see my favorite band,” said Schuls.

He said that if concerts and other live events are important to you, then work on your budget and create a savings box specifically, taking into account.

“The money has been reserved in your budget like”Beyonce Fund“Or yourTaylor Swift FundSchools said.

If you need to extend the cost of attending a concert, here is what to know about buying now, pay the subsequent loans for credit cards.

Loans have become a common choice Greg McBraide, chief financial analyst at Bankraate, said that it allows consumers to spread the total cost on installments in a short time frame, often without benefit.

However, the form of payment has evolved to the point where not all are purchased now, subsequent plans “of the same template” are paid.

Most plans consist of four payments for divisions, but others have longer payment conditions. They may impose an annual percentage, or interest, up to 36 %, According to To nerdwallet.

Some plans also receive fees for late or renovated payments, which can cost up to $ 15 or even 25 % of the purchase value, according to Nerdwallet.

Experts say credit cards can be more dual than buying now, and later payment, but they have other advantages.

Like some purchase now, pay subsequent plans and credit cards Late fees and benefits on unpaid assets. While some cards offer new offers free from the benefit of card holders on purchases, the average credit card interest rate is It slightly over 20 %According to Rate.

McBraide said most of the cards usually provide a purchase protection that you may not get from the purchase now, and to pay a plan at a later time.

“Paying a credit card can facilitate your money if the ceremony is canceled,” he said.

Some cards offer rewards such as cash return, points or miles on purchases. About 65 % of those planning to attend a concert or this year’s festival said they will use credit card bonuses to help pay their costs, according to the LindingTree report.