Borrow Bucks, Get Some Miles

Tuesday Apr 2nd 2002 by Beth Cox
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LendingTree lets its loan customers get high in a deal with four national air carriers that links mileage and mortgages.

Online loan operation LendingTree Inc. struck a mileage incentive marketing deal with four of the nation's top airlines that lets customers get frequent flyer miles for home mortgage, home equity or auto loans.

The Charlotte, N.C.-based company said it has signed deals with Delta Air Lines, US Airways, Northwest Airlines and Continental Airlines.

To participate, consumers access a co-branded LendingTree Web site, powered by LendingTree's Lend-X technology. For every $10,000 transacted for a mortgage, home equity, or auto loan, the consumer can earn 1,250 miles in a participating airline's frequent flyer program, and for every $10,000 in a home's sale and/or purchase amount the consumer can earn 3,000 miles in most states.

For example, if a consumer sells, buys, and finances a $200,000 home, the completed process results in 145,000 airline miles that the consumer will receive upon closing these transactions.

Founded in 1996, LendingTree operates a market that is made up of more than 140 banks, lenders, and brokers.

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