Q. What is required to have an Affirm account?

To sign up for Affirm, you 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

Q. Are there any interest or fees associated with Affirm loans?

Affirm loans vary between 10% and 36% APR simple interest (0% APR is offered at select merchants). The corresponding finance charge is the only fee associated with an Affirm loan - we don’t charge late fees, service fees, prepayment fees, or any other hidden fees. We strive always to be more transparent and fair than any other form of financing.

Q. Do I have a credit limit with Affirm?

Unlike a credit card, Affirm is not a revolving line of credit. While customers can take out multiple Affirm loans at once, each Affirm loan application is evaluated separately as a closed-end transaction. An application from a returning customer may be denied, however, if that customer has failed to repay other Affirm loans on time or if the customer shows excessive borrowing behavior.

Q. Does Affirm perform a credit check?

Yes, when you first create an Affirm account, we perform a ‘soft’ credit check to help verify your identity and determine your eligibility for financing. This ‘soft’ credit check will not affect your credit score. If you apply for more loans with Affirm, we may perform additional ‘soft’ credit checks to ensure that we offer you the best financing options possible.

 

Your rate will be 0-36% APR based on credit, and is subject to an eligibility check. For example, a $700 purchase might cost $63.18/mo over 12 months at 15% APR. 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.”