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
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.