Affirm Buy Now, Pay Later: 2024 Review

Affirm offers multiple "buy now, pay later" payment plans to shoppers, including its zero-interest Pay in 4 and longer monthly payment plans, which may charge interest.

You can download the Affirm mobile app to get started or check out with Affirm when shopping at a partner store.

» COMPARE: The best buy now, pay later apps

Affirm at a glance

How does Affirm work?

Affirm works by dividing the total cost of your purchase into smaller installments when you check out with Affirm online, in stores or when shopping in the Affirm mobile app. There will likely be multiple payment plans to choose from, including Affirm Pay in 4 and Affirm monthly payments.

Affirm doesn’t charge any fees, including no late fees, and there’s no penalty for making an early payment or paying off your balance in full before the due date.

Affirm Pay in 4

Affirm Pay in 4 divides your total purchase into four interest-free installments. The first installment is either due at checkout or two weeks after your purchase. The three remaining installments are automatically billed to your selected payment method every two weeks until the loan is paid off.

For example, if you have a cart totaling $100, you’ll pay $25 at checkout (or two weeks after). You’ll then make three remaining payments — each $25 — over the next six weeks.

You can make payments with a debit card, credit card or bank account.

Affirm monthly payments

Affirm also provides longer payment plans for purchases up to $20,000, or $30,000 if you’re able to make a $10,000 down payment. These plans charge an annual percentage rate (APR) of 0% to 36%, and payments are due monthly, with the first payment due one month after your purchase is processed. You may have to make an initial payment at checkout if you don’t qualify for the full loan amount.

Affirm will display all available repayment terms when you check out, and terms vary by merchant, purchase amount and your current credit profile. Possible terms include: three, six, 12, 18, 24, 36, 48 or 60 months.

You can’t pay with a credit card if you choose monthly payments.

Other Affirm payment options

Affirm launched two additional payments options in June 2024: Affirm Pay in 2 and Affirm Pay in 30. Availability is currently limited, but may be offered to more customers in the coming months.

Pay in 2 lets shoppers split their purchase in half with equal, interest-free payments over two months. Pay in 30 lets shoppers pay in full, interest-free, within 30 days of making the purchase. Like all Affirm payment plans, there are zero fees.

How to get approved for Affirm

To be eligible for Affirm, you need to be at least 18 years old and a U.S. resident. You also must have a Social Security number and a U.S.-registered phone number that receives texts.

When deciding whether to approve you, Affirm will consider your credit score, as well as any prior payment history with Affirm (including loans you may have outstanding) and how long you’ve had an Affirm account. Affirm also looks at your credit utilization, income, existing debt and any recent bankruptcies. You can verify your income with Affirm, which may help you get approved.

Each application with Affirm is assessed separately, so you may be approved for a loan at one store but denied at another. If you aren’t approved, you’ll receive an email explaining why.

Does Affirm check credit?

Affirm checks your credit with a soft credit pull, which doesn’t hurt your credit score. Though there’s no minimum requirement, Affirm considers your credit score as part of your application.

How to use Affirm

Download the Affirm app or Affirm Chrome extension

You can download the Affirm mobile app to create an account and see what type of loan you may be eligible for by pre-qualifying (also known as checking your purchase power). Pre-qualifying isn’t the same thing as getting approved for a loan, but it gives you an idea of how much you can borrow with Affirm.

Affirm also offers a Chrome extension, which lets you use Affirm when shopping online in your Chrome browser.

Shop with Affirm online and in stores

Some retailers have Affirm directly integrated into their online checkout, which means when you go to pay, you can apply and opt in to an Affirm plan without leaving the retailer’s website.

If you want to shop in person with Affirm, you can apply for a one-time virtual card in the mobile app. Once approved, you can save this card to your mobile wallet and use it to check out at a physical store (or online, too).

Is Affirm safe?

Affirm is a safe and reputable provider of BNPL loans. Weigh the pros and cons below to decide whether Affirm is the right fit for you.

Where Affirm stands out

Zero-interest loans: Affirm Pay in 4 comes with no interest, which is standard among BNPL providers offering this type of plan. But Affirm may also extend 0% financing for its longer loans, which not all BNPL providers do. This means you could potentially break up a sizable purchase for no additional cost.

No fees: Affirm never charges fees, even if you miss a payment. Many BNPL providers charge a fee for late payments, and others may charge a service fee, installment fee or convenience fee.

Wide range of loan amounts and repayment terms: Among BNPL providers, Affirm offers some of the most flexible payment options available. Shoppers can choose from a wide range of loan amounts — up to $30,000 in some cases — and terms up to five years. If you can’t qualify for traditional credit, this may be one way to pay for a larger purchase over a longer period of time.

May be able to build credit: Affirm reports payment history to Experian for some larger loans that have multimonth terms, but it isn’t guaranteed. If building credit is a priority for you, it’s best to go with a financing option where payments are always reported, like a personal loan or credit card. (See more on alternatives below.)

Where Affirm falls short

Doesn’t pause account after missed payment: Affirm doesn’t pause your account after you miss a payment, which other providers do. This feature acts as a built-in protection for users, so you don’t overextend yourself. However, Affirm takes any outstanding payments into account when approving you for additional Affirm loans.

Limited payment flexibility: Though borrowers can change their payment date if they turn on autopay, they can’t extend the due date. Other providers let you extend a payment date once per order for free and some let you reschedule a payment multiple times per order for a small fee.

Affirm reviews

At the time of writing this review, Affirm holds an A+ rating from the Better Business Bureau (BBB) with more than 2,400 complaints closed in the last year. Complaints against Affirm mostly revolve around product and billing issues, including missing or inaccurate refunds and problems with settling disputes.

On Trustpilot, Affirm is rated 3.0 out of five stars. Users praise being able to break up payments for big purchases, often for zero interest, when using Affirm. Some users complain about rejected applications and limited purchasing power.

Affirm’s mobile app pages are another good resource for reading Affirm reviews. In the Apple app store, Affirm is rated 4.9 out of five stars, with 1.4 million ratings. In the Google Play app store, Affirm is rated 4.8 out of five stars, with over 350,000 reviews.

Frequently asked questions about Affirm

• What is the downside of Affirm?

  The downside of Affirm is that you may be tempted to overspend, since you don’t have to pay for your purchase all at once. You could also lose track of your payments and end up falling behind, which could hurt your credit score. These are risks of any BNPL provider.

• How legit is Affirm?

  Affirm is a legitimate provider of buy now, pay later loans and partners with major retailers like Amazon, Walmart and Apple.

• Does Affirm affect your credit score?

  Applying for Affirm won’t affect your credit score. Affirm may report some larger loans to Experian, which could help or hurt your credit score, depending if you make on-time payments.

• Does Affirm approve easily?

  Affirm may approve more easily than traditional lenders, like banks. However, Affirm still considers your credit score and income when deciding whether to approve you.

• What happens if I pay off Affirm early?

  If you pay off Affirm early, there are no fees or penalties. In fact, paying early can help you save money on interest.

Compare Affirm with other BNPL lenders

Affirm promises no interest and no fees for its pay-in-four plan, making it similar to BNPL providers like PayPal. However, PayPal charges interest for monthly financing, which Affirm may not.

Alternatives to Affirm

If you have good or excellent credit (690 credit score or higher), you may consider a 0% APR credit card. These cards offer introductory periods of up to 21 months and charge no interest during that period. You may also receive a sign-up bonus or access to a rewards program.

If you’re looking to fund a large, essential purchase, you could apply for a personal loan. Personal loans have fixed interest rates and longer repayment terms, and there are options for borrowers with fair or bad credit (689 credit score or lower).