Listen Now: Airline Ticket Prices
Airline fares are based on a number of factors, and one of those might be your income.
Traditionally the price of a flight takes multiple things into account such as route, date and demand. Now Senator Chuck Schumer is warning people that major airlines want to collect your personal information and use it to determine what you pay to fly.
This warning follows a Travel Weekly article that quoted a software provider who claims airlines are already using this practice, known as micro-target pricing. According to the software firm, it uses information such as purchasing habits, income and browsing history to determine the cost of your ticket.
Senator Schumer says he is concerned because it could raise the ticket cost for some while lowering it for others. So how can you make sure you get a fair price? Clear your browsing history each time you search for a flight or use multiple browsers.
You can also filter your results by price or set a price alert to get you the best deal when it pops up, no matter how much money you have.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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