If you are an Affirm Card holder, you will see the approved amount available on the Pay over time tab in the app. Our partner stores may give you the opportunity to check your purchasing power while you're on their site or in their store. This shows you how much you can spend only at their store.
Affirm credit score requirement: 640 or higher for long-term loans. Qualification criteria for BNPL programs are complicated, but you have a good shot with Affirm if your credit score is above 640. But if your credit score is lower, you may not be out of luck.
There's a $25,000 individual transaction (deposit or withdrawal) and a $100,000 daily limit cap for transactions initiated through Affirm Money™ Account (in app or on the web).
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. After your purchase, you'll receive monthly email and SMS reminders about your upcoming payments.
The highest cart allowable is $30,000 USD. Affirm will finance up to $20,000 USD for qualified applicants, and the customer would then be responsible for the remaining $10,000 USD with a downpayment. For any purchase over $30,000, Affirm won't be available as a payment option.
Affirm approves loans from $50 to $30,000, and large amounts may require a down payment. Loan limits vary by merchant and will depend on your credit record and payment history with Affirm.
The spend now limit is based on several factors, including your purchase and repayment history with Affirm and the balance of your linked bank account. It can go up or down over time based on these factors.
There is no predefined spending limit when using Klarna. Instead, a new automated approval decision about how much you can spend with us is made each time you pay with Klarna.
These may include, but are not limited to, your credit score and credit utilization, payment history with Affirm, the age of your Affirm account, current outstanding loans, income and debt obligations, or recent bankruptcies.
Things like paying bills on time, reducing debt balances, and limiting how often you apply for new credit could work in your favor for getting a higher credit limit with Affirm or any other lender.
While you can't access cash with an Affirm loan, Affirm BNPL is offered and accepted widely via the app or at checkout. Or, you might qualify for an Affirm card that you can use to request payment plans before and after checkout on eligible purchases.
Yes, Affirm will check your credit history to see if you're eligible for a loan, but it's a soft inquiry, which doesn't impact your credit score. And while they don't list a required minimum credit score to shop with them, you may have to verify your income or prove you can make on-time payments before you're approved.
Your loan application may be affected by any or all of the following: Your credit score. Your credit utilization. Your payment history with Affirm, including overdue payments, deferred payment, and loan delinquency.
Past loans through Affirm do not guarantee future approvals. Each loan is considered separately, and it's important to keep certain factors in mind: Your history with Affirm, including the number of loans you currently have with us, late or deferred payments or current or previous loans, and any charged-off loans.
After creating your Affirm account, you can check the available credit limit. In the Account tab, select Credit Limit, and click Show. As a result, you'll see your credit limit and other credit information, such as payment due date, terms, and interest rate.
Our spending limits start low, at around $600, and increase gradually over time with consistent on-time payments. If you're a new Afterpay customer, the amount you can spend will be lower than if you've been responsibly using Afterpay for a long time.
Paying at the pump
You can use your Affirm Card to pay over time for gas (where Visa is accepted). Make sure to link your bank account to your Affirm Card before swiping.
While Affirm offers interest-free payment options, some of its longer-term repayment plans come with interest charges that can be as much as 36%. This can add to the overall cost of your borrowing and be more expensive than credit card financing.
The Affirm website states there's no minimum credit score to qualify for a buy now, pay later (BNPL) loan. Along with a soft pull on your credit, Affirm determines whether you qualify for a loan based on your: Income. Debt-to-income ratio (DTI).
There is no limit to how many loans you can have at one time. But if you've recently opened credit accounts, we'll consider that when reviewing your application. We also consider things like your payment history, how much credit you've used, and how long you've had credit.
While both Affirm and Afterpay provide good BNPL options, our choice is Affirm because it offers multiple payment options, does not charge late fees, and could help you build credit with your on-time payments.
Klarna doesn't set a minimum credit score to qualify for its finance products. However, Klarna may look at your credit report as a whole before making a decision.
Every Afterpay customer starts with a limit of $600.
Your pre-approved spend amount increases gradually. The longer you have been a responsible shopper with Afterpay - making all payments on time - the more likely the amount you can spend will increase. Afterpay does NOT do an initial credit check.