Affirm will perform a soft credit check. This won't affect your credit score or show up on your credit report.
Affirm Credit Score For Approval. Affirm reports that you're "more likely to be approved" for their financing with a score of 640 or higher. There are user reports of being approved with a score as low as 600. Ensuring your revolving balances are low and that you have less than six inquiries will help.
Affirm does a soft pull of your credit history which typically does not impact your credit score.
Affirm provides clear, simple, and on the spot financing for online purchases. ... Affirm performs a 'soft' credit check that does not affect your credit score. Affirm reports loan and payment activity to credit bureaus, allowing customers the opportunity to build their credit history as they repay their Affirm loan(s).
You'll also earn cash back on your purchases. However, If you're able to secure a 0% APR on your loan, Affirm could be a good choice since it allows you to avoid paying the entire cost of an item upfront — this could be especially useful for big-ticket items like furniture or exercise equipment.
No, you can't increase your credit limit. However, Affirm lets you take as many loans as you qualify for.
The Prequalification flow is automatically activated with a single click on Affirm's “as low as” (ALA) messaging on your site—whether it's on your product page, category page, homepage, or all of the above. When a customer clicks on this messaging, the option to prequalify appears in Affirm's inline education modal.
Cross River Bank
They are a New Jersey State Chartered Commercial Bank, Member FDIC.
It's a flywheel effect where more merchants allow for more customers which leads to higher transaction frequency for data, smaller merchants want to join, and more revenue and GMV for Affirm. It's a flywheel with tremendous network effects as seen below.
Affirm has been a wonderful place to work. ... It's a privilege to work at a startup of Affirm's stage—things are still moving very quickly and there are opportunities for making an outsized impact, but we have more stability than most startups.
Early payments
If you want to pay early, you can absolutely do that. There are no penalties or fees, and you'll save on any interest that hasn't accrued yet.
Loan amounts — Affirm offers loans of up to $17,500. Purchases of less than $50 require repayment within 30 days. Credit history — Even if you're still building your credit, Affirm may approve you, since it considers factors besides your credit scores when it reviews your application.
Sign in to your Affirm account. Click Pay at the top of the screen. Select a purchase to see the remaining balance and other details.
A prequalified amount is an estimate of what a lender may qualify you to borrow in the future. This is different from a credit limit. A credit limit is the maximum amount of credit a lender has already decided you can borrow.
There are certain types of loans that will not include credit reporting to Experian. For instance, Affirm will not report a loan to Experian if the loan is 0% and 4 biweekly payments or you were only offered one option at application of a three month payment term with 0%.
Affirm generates revenue on the loans that it issues to consumers. The biggest draw for Affirm is that it does not impose any hidden fees (for instance on late payments) and makes the interest rate transparent upfront.
Age Requirement. To create an Affirm account, you have to be at least 18 years old. To prequalify or get approved for a loan, you also have to be at least 18 years old. There are exceptions to this: You have to be 19 years old if you live in Alabama or if you're a ward of the state in Nebraska.
When information does not match what is on public record, we are unable to approve an application. If you believe there is incorrect information in your application, just fill out this form and we'll get back to you.
Merchants can take up to 21 days, and sometimes even longer, to process a return, so we can't update your Affirm account until the merchant does their part. You should still make any payments that come due, to avoid late payments.
Interest Rates and Fees
Affirm does not charge any hidden fees, including annual fees. Why is my Affirm interest rate so high? When Affirm determines your annual percentage rate (APR), it evaluates a number of factors, including your credit score and other data about you.
Interest on loans through Affirm are only charged interest on the purchase amount—or, principal balance. It's why we can be transparent about the total cost at the time of credit approval, even before the user accepts it. And because we never charge any late or penalty fees, that amount will never change.
Affirm could be a great opportunity for job seekers that share the company's values of simplifying finance, or to anyone who just loves finding creative ways to improve people's lives.
We started Affirm because credit cards aren't working. With Affirm, customers never owe more than they agree to up front, and always receive a flexible, transparent, and convenient way to pay over time. Attracting great people starts by finding talent in different places.
The average Affirm salary ranges from approximately $69,753 per year for an Operations Associate to $229,269 per year for a Staff Software Engineer. Affirm employees rate the overall compensation and benefits package 4.6/5 stars.
Affirm works with more than 7,500 retail partners in the US and Canada, with more international retailers added to the list every year.