JetBlue is banking on the idea that we’ve overspent over the holidays. In addition to its current winter sales, it’s offering a $20 credit to those who book their flights with its Bill Me Later service through January 31st.

The way that Bill Me Later works, you only have to submit a few pieces of information and agree to the waiver in order to buy the airline tickets. Payments aren’t due for 90 days—but after 90 days you’ll face an interest rate of 20%. The service may appeal to travelers who are either strapped for cash at the moment, or don’t want to submit their credit card details. And it definitely appeals to airlines not wanting to pay the credit card companies’ fees (about 2.5% of each purchase).

The payment option is also offered on Continental, US Airways, and AirTran, not to mention Hotwire.com and Hotels.com, too. JetBlue just took it up last summer, so it’s fairly new to them, but the other airlines have already used it for several years.

I don’t know anybody who has used the service, but my first impression: it’s almost too tempting, too easy, no? Assuming that I’m not down to my last penny, I’d prefer paying as much upfront (or as close to upfront) as I can. Besides, where’s the fun in paying after the flight is a such vague memory?

But I’d be curious to know—has anyone had experience using this service?