Ticketmaster is one of the largest ticket sales and distribution companies in the world. They sell tickets for concerts, sports events, theater shows and more. Many tickets on Ticketmaster can get expensive, especially for premium seats at popular events. To help customers afford these expensive tickets, Ticketmaster offers a monthly financing option called Ticketmaster Monthly Payments.
What is Ticketmaster Monthly Payments?
Ticketmaster Monthly Payments allows customers to split up the total cost of event tickets into several smaller monthly payments. Rather than paying the full price all at once, you can pay a portion of the total each month over a set period of time, usually 3, 6, or 12 months. This makes tickets more affordable by spreading out the payments.
How does it work?
When you purchase tickets on Ticketmaster, you will have the option to select Ticketmaster Monthly Payments at checkout if the event and ticket type you selected is eligible. You’ll first need to be approved for a line of credit from Ticketmaster’s financing partner Affirm. Once approved, you can choose your monthly payment schedule – 3, 6, or 12 months. You’ll only pay taxes and fees upfront and the first monthly payment. The remaining balance gets divided up into equal monthly payments over the schedule you select.
Fees and interest
There are no upfront service fees from Ticketmaster for using their monthly payment plan. However, Affirm does charge interest on the financed amount, from 10-30% APR depending on your credit. The exact APR will be disclosed during the application process before you complete the financing agreement. Interest is already calculated into your quoted monthly payment amount.
Eligible events and tickets
Not all tickets sold on Ticketmaster are eligible for monthly payments. Usually the most popular concerts, theater shows, and sporting events will qualify. Things like smaller local events or seasonal fairs may not. If an event has the Monthly Payments option it will be clearly marked during the checkout process. Some specific ticket types for an event may also be excluded, even if other tickets are available for monthly payments. Restrictions are set by the event provider not Ticketmaster.
Requirements to use Ticketmaster Monthly Payments
There are a few requirements customers need to meet in order to use Ticketmaster’s monthly financing option:
- You must have a Ticketmaster account
- You must be approved for credit by Affirm
- You must use a credit or debit card as your payment method
- Your billing address must match the cardholder’s address
Having a Ticketmaster account is free and easy to set up. It allows you to save your payment information and preferences for easier checkout. To get approved for financing, you’ll need to submit a credit application with Affirm and pass their underwriting requirements. This will determine your maximum credit line and APR for the payment plan. Finally, you must use a valid credit or debit card in your own name to process the monthly payments. Prepaid cards and gift cards are not accepted.
How to apply for Ticketmaster Monthly Payments
Applying for financing your Ticketmaster purchase is straightforward and done during the normal checkout process:
- Add event tickets to your cart and begin the checkout process
- When prompted to select payment, choose “Select Monthly Payments”
- Review the monthly payment amounts and select your preferred term
- Click “Apply Now” and complete the Affirm credit application
- Receive your approval decision in minutes (approval is not guaranteed)
- If approved, continue checkout and finish purchasing the tickets
The credit application only takes 2-3 minutes to complete. Affirm will conduct a soft credit check that does not negatively impact your credit score. If approved, you can review the full terms and final monthly payment amounts before completing the transaction.
Approval factors
When reviewing your monthly payment application, Affirm considers these key factors:
- Income
- Existing debt obligations
- Credit history and credit score
- Affordability of monthly payments
Higher income and credit scores normally receive quicker approvals and lower APR offers. Even applicants new to credit or with less than perfect credit may still get approved but with a higher interest rate.
Using Ticketmaster Monthly Payments
If approved for monthly financing, completing your ticket purchase is simple. Here is an overview of the process:
- After credit approval, finish selecting your tickets on Ticketmaster and proceed to checkout
- Enter your shipping information if needed
- Enter your credit/debit card information – must match billing address
- Verify details like ticket quantities, shipping, fees, and final monthly payment amounts
- Check box to agree to the terms and conditions
- Click “Place Order”
- You will only be immediately charged for taxes, fees, and your first monthly payment
Once your order is complete, you will receive an email confirmation from Ticketmaster with your order details. You will receive a separate email from Affirm summarizing your monthly payment schedule and terms. You can easily log into your accounts with both Ticketmaster and Affirm to review payment history and manage your financing.
Receiving your tickets
How you receive your tickets depends on the shipping method you select during checkout. If you choose electronic tickets or TicketFast Mobile Delivery, they will be sent to your Ticketmaster account immediately after purchase. You can access your tickets anytime leading up to the event. For physical tickets shipped by mail, allow 7-10 days for delivery.
Making your monthly payments
Your monthly payments will be processed automatically each month on the same date as your initial purchase. For example, if you bought tickets on the 5th of the month, your monthly payments will be drawn on the 5th of each month after that. Payments are made using the debit/credit card you entered during checkout with Ticketmaster.
Your payment schedule, monthly payment amounts, and other financing details can always be viewed by logging into your Affirm account online or in their mobile app. You will receive email reminders from Affirm as your next payment date approaches each month.
If you wish to pay off your financing early, you can easily do so online through your Affirm account dashboard. There are no pre-payment penalties. Making extra payments can help reduce the total interest paid over the life of the loan.
Issues making payments
If an issue arises with making your scheduled monthly payment, it’s important to contact Affirm as soon as possible. You may be able to adjust your due date or modify your payment plan. Affirm also offers hardship assistance for qualifying circumstances. Failure to make payments will result in penalties, fees, and increased interest rates.
In extreme cases where you are unable to make catch up on missed payments after contacting Affirm, your account may go to collections. This can severely damage your credit score. Be sure to reach out for help from Affirm before you miss a payment due date.
Benefits of using Ticketmaster Monthly Payments
Financing your Ticketmaster purchase through their monthly payment plan offers several benefits:
- Pay for tickets over time rather than all at once
- Avoid paying credit card interest or fees
- More convenient than using a layaway plan
- Lock in ticket prices early
- Establish credit history
- Access to better tickets than you may be able to afford otherwise
The main advantage is spreading the total ticket cost over several months to make the purchase more affordable. This can allow you to get great seats now even if you don’t have the cash on hand to pay in full today.
Risks and things to consider
While there are many benefits, there are some risks to be aware of when using Ticketmaster’s payment plan:
- Interest charges increase total cost
- Possibility of missed payments and credit damage
- Tickets are not refundable if event is canceled or you can’t attend
- Does not help build credit score like other financing options
- Monthly payments are set amounts, lower income months still require the same payment
The interest rate charged by Affirm will increase the total amount you end up paying for the tickets compared to paying in full upfront. And if your financial situation changed, the required monthly payments could become difficult to afford leading to missed payments and credit score impacts. You also lose the flexibility of being able to get a refund if you can no longer attend the event.
Alternatives to consider
Using Ticketmaster Monthly Payments is one way to finance large ticket purchases, but there are a few other options to consider as well:
- Save up funds over time – Slowly setting aside money until you can pay in cash
- Credit card financing – Many cards offer 0% promos or points/cashback rewards
- Personal loan – Unsecured loans typically have lower rates than Ticketmaster’s plan
- Layaway plan – Only a small deposit upfront and pay over time, but no tickets until fully paid
The right option depends on your financial situation. Monthly payments with Ticketmaster provide a simple financing solution directly through their website. But it may not always be the most affordable option when factoring interest costs. Compare all your choices when deciding the best way to pay.
Conclusion
Ticketmaster Monthly Payments allows customers to spread the cost of expensive event tickets over a fixed payment schedule. By only requiring a small upfront payment and letting you pay the remaining balance over 3, 6, or 12 months, you can secure seats now even if the full price may be currently unaffordable. Just be aware of the financing terms and compare interest costs to alternatives before moving forward. Used wisely and with a commitment to make consistent payments, Ticketmaster’s payment plan can be a useful way to access better tickets while improving your budgeting abilities.