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Affirm Finance

  1. Overview
  2. Application Process
  3. Interest Rates & Fees
  4. Making Payments & Refunds

1. Overview

What is Affirm?

Affirm is a more simple, transparent and consumer-friendly alternative to credit cards. Affirm offers instant loan decisioning for online purchases to be paid in fixed monthly installments over 3, 6, 12, 18, 24 or 36 months. Your rate will be 0% APR or 10–36% APR based on credit, and is subject to an eligibility check. Payment options through Affirm are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required.
As an example, for a $3,000 watch you might pay $271/mo over 12 months at 15% APR.

Why buy with Affirm?

  • Buy and receive your purchase right away, and pay for it over several months. This payment option allows you to split the price of your purchase into fixed payment amounts that fit your monthly budget.
  • If Affirm approves your loan, you'll see your loan terms before you make your purchase. See exactly how much you owe each month, the number of payments you must make, and the total amount of interest you'll pay over the course of the loan. There are no hidden fees.
  • The application process is secure and real-time. Affirm asks you for a few pieces of information. After you provide this information, Affirm notifies you of the loan amount that you're approved for, the interest rate, and the number of months that you have to pay off your loan - all within seconds.
  • You don't need a credit card to make a purchase.
  • You may be eligible for Affirm financing even if you don't have an extensive credit history. Affirm bases its loan decision not only on your credit score, but also on several other data points about you.
  • Affirm reminds you by email and SMS before your upcoming payment is due. Enable Autopay to schedule automatic monthly payments on your loan.

What is required to have an Affirm account?

Affirm customers must:

  • Be a resident of the U.S. (including U.S. territories)
  • Be at least 18 years old (19 if you’re a ward of the state in Nebraska)
  • Have a Social Security number
  • Own a phone number that receives SMS and is registered to the United States or U.S. territories

2. The Process

How does Affirm work?

Affirm loan-application process steps:

  1. At checkout, choose Pay with Affirm.
  2. 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.
  3. To ensure that you're the person making the purchase, Affirm sends a text message to your cell phone with a unique authorization code.
  4. 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 three, six, twelve, eighteen, or thirty-six months.
  5. To accept Affirm's financing offer, click Confirm Loan and you're done.

After your purchase, you'll receive monthly email and SMS reminders about your upcoming payments. You can also set up autopay to avoid missing a payment.

In most cases, your first monthly payment is due 30 days from the date that we (the merchant) process your order.

3. Interest Rates

What are Affirm's fees?

Affirm discloses the interest amount 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.

4. Making Payments & Refunds

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:

  1. Go to www.affirm.com/account.
  2. Enter your mobile phone number. Affirm sends a personalized security PIN to your phone.
  3. Enter this security PIN into the form on the next page and click Sign in.
  4. 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.
  5. Make a payment using a debit card or ACH bank transfer.

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.

We do not refund any paid interest.