How your income could impact what airlines charge you — Forever 39 Podcast
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Whether you're taking a trip to California to visit family or taking the kids to see Mickey Mouse in Orlando, getting a good deal on airfare can be a challenge. And now comes word that it could get a lot worse.
The New York Post reported in March that U.S. Sen. Chuck Schumer, D-N.Y., has asked the Federal Trade Commission to look into the airline practice of micro-targeting pricing.
So what exactly is micro-targeting and why is it bad for consumers?
According to the report, major U.S. airlines could be looking to set airfares based on a person's income level. So while those who don't make a lot of money could win in this situation, those with higher incomes could get screwed.
How exactly are they doing this?
Well, similar to how Amazon collects data on a customer's buying history in order to offer them additional products they might be interested in, major carries are looking to gather personal information about passengers — how much they earn, browsing histories and online spending habits.
Schumer, according to the New York Post, is concerned micro-targeting could spread to other industries.
The good news is there are ways you can protect yourself from allowing the airlines to find out your personal information. Check out these tips from Yahoo Finance.
So click on the podcast player above and join us as we discuss whether we think it's fair for those with a thicker wallet to pay more to fly, and how to prevent yourself from becoming a victim.
Also from this week's Forever 39 podcast — Do you have selfitis? PLUS: Is it better to rent or own in New Jersey? Click on the podcast player above to hear the entire episode. Share your thoughts on all of them below, on Twitter, on Facebook or at email@example.com.
— Annette and Megan, Forever 39
Join us for next week's podcast when we discuss driving behaviors in New Jersey, annoying co-workers, and the decline of friendly neighbors.