What is Affirm?
Affirm strives to keep you out of unhealthy debt by facilitating fair, transparent credit so you can pay over time for the things you love. We offer affordable monthly payments at a pace you choose—usually 3, 6, or 12 months—so you're in control. From day one, you know how long you'll pay, and you know how much you'll pay because we never charge late fees or other hidden fees.
Interest and no fees
Installments over 3, 6, or 12 months
At partner stores, you can choose Affirm as a payment method during checkout and seamlessly apply for a loan to pay for your items right then. You can choose to spread your payments out, typically over 3, 6, or 12 months (or more), to pay for your purchase with manageable payments that work with your budget.
4 interest-free payments
Depending on the merchant and your order value, you can make 4 equal payments, every two weeks, so you pay your purchases off quickly with no impact on your credit.
To pay with Affirm at other merchants, you can apply for a loan at affirm.com or in the Affirm app, and you'll get a virtual card you can use at most stores, both online and in brick-and-mortar stores. It works like a credit card—just choose to pay by credit card at checkout, then enter your virtual card number.
Affirm Savings account
Affirm also works with Cross River Bank, Member FDIC, to provide interest-bearing savings accounts, available from the Affirm app, with no minimum deposit requirements and no fees. After you securely link your bank account to your Affirm savings, you can transfer money into your account. However, you may not make more than six withdrawals or transfers from your account during any monthly statement cycle.
We don’t charge any fees. That means no late fees, no prepayment fees, no annual fees, and no fees to open or close your account.
Your APR may be different depending on your creditworthiness and where you are shopping. The exact terms that apply to your purchase will be given when you check out with Affirm.
At checkout, Affirm always shows the total amount of interest you’ll pay and you will never be charged more than that. This way, you always know what you’re getting into. If you pay faster than agreed, you might be charged less!
With Affirm, there are no late fees, service fees, prepayment fees, or any hidden fees
How loan approvals work
When you are approved for a loan, a number of factors are taken into account: current economic conditions; eligibility criteria—which include things like your credit score, your payment history with Affirm, and how long you’ve had an Affirm account; and the interest rate offered by the merchant where you’re applying for the loan.
We negotiate these loan eligibility criteria and interest rates with each merchant individually. That's why you may see that some merchants offer 0% APR with payback schedules of 6, 12, or 24 months, while other merchants have no special APR and payback schedules of 3, 6, or 12 months.
Because these interest rates and loan eligibility criteria are subject to change based on a variety of factors, your ability to get a loan may differ from merchant to merchant and may also depend on when you apply for a loan.
For every loan you apply for, this means the following:
You may be approved for a loan at some merchants but not others. Checking eligibility doesn’t harm your credit score.
You may already have an Affirm loan but not be approved for another loan right now. For example, if you’ve taken on more debt elsewhere or have missed a payment with us, you might need to wait a while to get approved for another Affirm loan.
If your application can’t be approved, we hope you’ll give us another chance in the future. If we can’t approve you, we will send you an email which will say a bit more about why we made the decision we did.
Can’t find the email? Be sure to check the same email address you used for your Affirm account. It also doesn’t hurt to check your spam folder.
If you still have questions on why your loan was not approved, please fill out the form below.
If you’re having issues with your checkout or need to cancel an order, check out our article about order issues and cancellations.
Get a refund
In order to get a refund, please contact the store where you bought your item to request a refund. They can let you know if a return is possible and how much the refund will be, according to their own return policy.
Once we receive the refund, the refund amount will show up in your loan timeline within 3–5 business days, and your balance will be updated.
Getting a refund by check
Refunds for paid interest
Where is my refund?
While you’re waiting for your refund, please continue to make any monthly payments that are due.
Refund is less than balance
If your refund is less than your total purchase balance, it might not lower or cover your next monthly payment. Instead, you can expect fewer monthly payments, a smaller final payment, or both.
Refund is more than balance
If your refund is more than your purchase balance, you will get back the difference, minus any interest you have paid. Affirm will credit your payment method within 3–10 business days.
When you get a refund for a returned purchase, Affirm refunds your money back to your original payment method. That means if you made payments by check (including money orders, MoneyGram, cashier's check, and so on), you will receive your refund by check.
However, there are a few cases when you will get a refund by check when you originally paid with a debit card or ACH payment:
- The refund was initiated 180 days or more after the original payment.
- Your original payment method is closed or no longer active. Since Affirm cannot issue a refund to a different account, Affirm will refund by check.
- Our payment processor is unable to process the refund back to the original payment method.
If you overpaid a loan payment, you can request a refund right here. You will receive the refund by check if you made the payment by check.
Unfortunately, we do not refund paid interest. When you make payments, the funds are first applied to the accrued unpaid interest and then the principal. Since interest is the only cost of borrowing with Affirm, it is not refundable.
Where is my refund?
To see the status of your refund:
- Sign in to your Affirm account.
- Navigate to Pay.
- Select your purchase.
- Your refund will show up as an adjustment in your purchase details.
Don’t see it? Your refund will show up within 3–5 business days