Physical Address

304 North Cardinal St.
Dorchester Center, MA 02124

Affirm Review 2024 | U.S. News

Affirm

  • People who want to avoid fees and interest on short-term loans.
  • People who need flexible options for financing everyday purchases.
  • People who don’t qualify for a traditional credit card.

Affirm can be used as a payment option with hundreds of thousands of retailers, both in-store and online. Some places where you can pay with Affirm include Adidas, Neiman Marcus, Sony, Target and Walmart.

If you don’t see Affirm as a payment option at checkout, you can still use the service by downloading the Affirm app or visiting its website. Tell Affirm where you’re shopping, and you’ll be given a one-time use virtual card you can use to complete your purchase online or in stores. You then make payments over time as usual.

Affirm is available at checkout with more than 245,000 merchant partners. If not directly available, the amount of your approved loan can be loaded onto a one-time use virtual Visa card. This card can be used either online or in-store. It expires 24 hours after it’s issued, though you can cancel the card before then, and you won’t owe any money if you don’t use the funds. You also have the option of using only a portion of the funds, in which case you’ll owe the amount you spend, plus interest, if applicable.

Affirm also allows users to get prequalified. This means you can get an estimate of how much you can spend with Affirm ahead of time. You don’t have to use the full amount, and you don’t need to pay anything back until you actually make a purchase.

When you’re ready to pay, navigate to the retailer’s checkout and request a virtual card in the Affirm app. Next, pick your preferred payment option. You can then manage your payments in the Affirm app or online. By adding the Affirm browser extension, you can see how much you can borrow as you browse items online.

Affirm also offers a physical debit card with pay-over-time functionality.

Affirm is a buy now, pay later service that was launched in 2012 in San Francisco. Today, the company boasts more than 245,000 merchant partners and is available on more than 50% of U.S. e-commerce sites.

How Are Payments Structured?

Affirm offers two ways to pay. First, you can choose to make four interest-free payments every two weeks, which is ideal for everyday purchases. You can set up automatic payments and there are no fees involved. There is also no impact on your credit score.

Alternatively, you can choose to make monthly installments, designed for big-ticket purchases. Again, you can arrange to have payments automated.

There are no fees or penalties for paying more than your required payment, or for paying off the balance early. However, if you don’t make your payments on time or in full, you may not be approved for Affirm loans in the future. Additionally, your payment schedule is based on the date of purchase, so you can’t change the payment due date or combine it with another payment schedule.

How Does Affirm Affect Your Credit?

Creating an account and finding out if you prequalify for an Affirm loan doesn’t impact your credit score. However, if you decide to make a purchase through Affirm, certain actions may affect your credit.

Affirm reports some loans to Experian and may report to other credit bureaus in the future. Your entire loan history will be included if any repayment activity, such as delinquent payments, is reported.

Why trust U.S. News

Your trust is important to us. To earn it, we conduct a rigorous, unbiased analysis with a transparent methodology, and our raters maintain strict editorial standards and independence.

Affirm

Affirm has been accredited by the Better Business Bureau since March 2020. It currently has an A+ rating. However, customers rate the business 1.15 out of 5 stars.

On TrustPilot, Affirm has a slightly higher rating of 2.5 out of 5 stars, based on more than 4,800 reviews.

Finally, the Consumer Financial Protection Bureau received 1,014 consumer complaints about Affirm in 2022. All but three of those complaints were provided a timely response, and all complaints were closed with an explanation.

Find the Best Personal Loans for You

Lender
Learn More
APR
Loan Amount
Min. Credit Score
Lender
Learn More
APR
Loan Amount
Min. Credit Score
Lender
Learn More
APR
Loan Amount
Min. Credit Score

Sarah Goldberg
Sarah Goldberg

Sarah is a seasoned financial market expert with a decade of experience. She's known for her analytical skills, attention to detail, and ability to communicate complex financial concepts. She holds a Bachelor's degree in Finance, is a licensed financial advisor, and enjoys reading and traveling in her free time.

Articles: 966