Affirm is currently available only in US.
Who is Affirm?
Affirm is a Buy Now, Play Later (BNPL) financial services tool that allows consumers to purchase goods and services with full transparency and with no hidden fees that are associated with traditional loans.
What is required to have an Affirm account?
To sign up for Affirm, you must:
- Be 18 years or older (19 years or older in Alabama or if you’re a ward of the state in Nebraska).
- Provide a valid U.S. or APO/FPO/DPO home address.
- Provide a valid U.S. mobile or VoIP number and agree to receive SMS text messages. The phone account must be registered in your name.
- Provide your full name, email address, date of birth, and the last 4 digits of your social security number to help us verify your identity.
How does Affirm work?
The Affirm loan-application process steps are the following:
- At checkout, choose ‘Pay with Affirm’.
- Affirm prompts you to enter a few pieces of information: Name, email, mobile phone number, date of birth, and the last four digits of your social security number. This information must be consistent and your own.
- To ensure that you’re the person making the purchase, Affirm sends a text message to your cell phone with a unique authorization code.
- Enter the authorization code into the application form. Within a few seconds, Affirm notifies you of the loan amount you’re approved for, the interest rate, and the number of months you have to pay off your loan. You have the option to pay off your loan over up to 36 months depending on the cart size. Affirm states the amount of your fixed, monthly payments and the total amount of interest you’ll pay over the course of the loan.
- To accept Affirm’s financing offer, click Confirm Loan and you’re done.
What are Affirm’s fees?
The annual percentage rate (APR) on an Affirm loan ranges from 0% to 30%. Affirm discloses any required fees upfront before you make a purchase, so you know exactly what you will pay for your financing. Affirm does not charge any hidden fees, including annual fees. Please see specific details below:
| Cart Size | Customer APR |
| $1000-1499.99 | 0% APR on 3 and 6 months, 10-30% APR on 12 |
| $1500-2999.99 | 0% APR on 6 and 12 months, 10-30% APR on 18 |
| $3000+ | 0% APR on 6 and 12 months, 10-30% APR on 36 |
Please note that the cart thresholds are subject to change at Affirm’s discretion, as they continue to optimize these programs for us and our costumers. Some customers may not qualify for the 0% APR financing, in which case they will be offered 10-30% APR instead.
How does Affirm approve borrowers for loans?
Affirm asks for a few pieces of personal information: name, email address, mobile phone number, date of birth, and the last four digits of your social security number. It verifies your identity with this information and makes an instant loan decision. It bases its loan decision not only on your credit score, but also on several other data points. This means that you may be able to obtain financing from Affirm even if don’t have an extensive credit history.
Will Affirm affect my credit score?
Creating an Affirm account and seeing if you prequalify will not affect your credit score. If you decide to buy with Affirm, these things may affect your credit score: making a purchase with Affirm, your payment history with Affirm, how much credit you’ve used, and how long you’ve had credit. Paying on time can help you build a positive credit history.
Why was I denied financing by Affirm?
We have no information regarding a customer’s financing denial. Affirm strives to offer all credit-worthy applicants financing with Affirm, but isn’t able to offer credit in every case. Affirm will send you an email with more details about its decision. Unfortunately Affirm’s decision is final.
Why was I asked to verify my identity?
If Affirm has difficulty confirming your identity, you may need to provide more information. Affirm uses modern technology to confirm your identity, including verifying your address or full SSN, or requesting a photo of your ID. Affirm takes these steps in some cases to counter fraud and provide the most accurate credit decision they can.
Why was I prompted to enter my income?
Affirm may sometimes need more information about your finances and your ability to repay in order to make a credit decision. Your income gives Affirm additional insight into your ability to repay.
Why was I prompted for my checking account?
Affirm may sometimes need more information about your finances and your ability to repay in order to make a credit decision. If you are prompted to link your checking account and would like to proceed, please provide the login information for your online bank account. Affirm does not store your online login credentials — they are transmitted securely to your bank. If Affirm asks you to link your checking account, Affirm won’t be able to offer you credit if:
- Your bank is not listed
- You choose not to link your checking account
- You don’t use online banking
- The username and / or password you provide is incorrect
- You’re unable to successfully connect your checking account
Why is my bank not listed?
Although Affirm is continually adding support for additional banks, they aren’t able to connect to every bank at the present time. We apologize for the inconvenience. If you’re unable to connect your bank, you’ll need to complete your purchase with another payment method.
Why was I prompted for a down payment?
Affirm isn’t always able to offer credit for the full amount you request. In these cases, Affirm asks you to make a down payment with a debit card for the remainder of your purchase. The down payment amount can’t be changed and must be made upon confirming your loan and before the loan offer expires.
How do I make my payments?
Before each payment is due, Affirm sends you an email or SMS reminder with the installment amount that is coming due and the due date. You have the option to sign up for autopay, so you don’t risk missing a payment. Follow these steps to make a payment:
- Go to www.affirm.com/account.
- Enter your mobile phone number. Affirm sends a personalized security PIN to your phone.
- Enter this security PIN into the form on the next page and click Sign in.
- After you sign in, a list of your loans appears, with payments that are coming due. Click the loan payment you would like to make.
- Make a payment using a debit card or ACH bank transfer.
What happens if I make a late payment?
If you’re going to be late on a payment, please sign in to your Affirm account today and schedule a payment as soon as possible. We don’t charge late fees. Even so, partial payments or late payments may hurt your credit score or your chances of getting another loan with us. After you schedule a payment, we’ll continue sending reminders by email and text message until any remaining balance is settled, but you won’t receive calls about your loan.
If I return an item, how do refunds work?
A refund posts to your Affirm account if we process your refund request. In the event that we issue you store credit instead of a refund, you are still responsible for paying off your Affirm loan. If you have already made loan payments or a down payment, Affirm issues a refund credit to the bank account or debit card that you used to make the payments.
How long does it take to get my money back in the event of a return?
A refund credit appears in your account within three to ten business days, depending on your bank’s processing time.
Can I amend my order after my purchase has been processed? Can I be approved for a higher loan amount if my purchase amount increases?
You cannot edit your order after you have confirmed your loan. If you want to add items to your purchase, apply for another loan with Affirm or use a different payment method.
Am I able to obtain a refund after my purchase?
Refunds can be processed up to 365 days from the date your order is placed.
I still have questions regarding payment.
Visit Affirm Help Center for a full list of FAQ’s and contact options.
