Affirm is a Buy Now, Pay Later (BNPL) credit model that allows consumers to make purchases now and pay for them over time without any interest. You can choose from two payment structures: traditional monthly payments lasting from six weeks to six months. There is also the option for Affirm Pay-in-4, Split Pay, which allows you to make four interest-free payments on a biweekly basis. Eligible customers may also pay over time with a 0% APR from six weeks to 60 months. Either way, you can get what you need today without worrying about fees and interest like a traditional credit card.

Consumers can shop at their favorite merchants within the Affirm app. The Affirm logo also appears at select merchants online, as well. An Affirm savings account is required to unlock Affirm Cash Back. Once you set up your account and download the app, you can use the Shop tab to find all your purchases from participating merchants. If you prefer to have a debit card, Affirm has that, too, although the built-in app simplifies things. Buy now and pay later with Affirm on purchases at places such as Walmart, Peloton, and Amazon.

With Affirm, there are none of the typical fees with no balance transfer fees, annual fees, late payment fee, or foreign transaction fees. This is because each transaction is written individually. However, while the APR can be as low as 0% to start, it can also go as high as 30% when you have bad credit. There is no set credit score for approval, although as always, the higher your score, the better. If you want a banking solution that offers a BNPL model, Affirm could be the right one for you.  

Affirm details

Affirm has made a name for itself, thanks to its lack of fees. Gone are the typical fees, such as late payment fees and overdraft fees. There also is no interest to save you extra money. Affirm makes this possible for its customers by underwriting each transaction individually, passing those savings on to the customer. 

Pros and Cons of Affirm

Pros	Cons
Pay later option Mobile app payments Several payment options	Extends financial obligations Wait time for Affirm Debit+ Digital company

Pros

• Buy Now, Pay Later option: With Affirm, you have the option to buy now and pay later, giving you the option to buy the things you need when you need them -- even if you do not have the funds immediately available.
• Mobile app: Affirm's mobile app puts the power in your hands, delivering a convenient app that is able to both make purchases and process payments.
  
• Several payment options: Affirm offers easy payments via its mobile app, but you can also pay via its website or mail a check. It makes paying your bill significantly easier.

Cons

• Extends financial obligations: When you elect to use Affirm Buy Now, Pay Later as a payment method, it means that you will be paying your purchases off longer than if you were to make a single upfront payment.
• Wait time for Affirm Debit+: There is currently a waitlist for the Affirm Debit+ Card.
  
• Digital company: Affirm is a digital company, meaning that you cannot visit branches in person. It is held strictly on an online basis, which means that you will need to be somewhat tech-savvy in order to use the service.
  

Affirm Debit+ card highlights

What kind of card is the Affirm Debit+ Card?

If you want a debit card, Affirm has that, too. The Affirm Debit+ card is a physical debit card that provides consumers with the option to pay as a debit or pay over time through the Affirm Debit+ app. Based on your credit score, you may pay anywhere from 0% to 30% interest on your purchases.

• Recommended Credit: Varies on a case-by-case basis
• Reward Rates: Cash back with savings account
• Intro Bonus: N/A
• APR: 0% to 30% (Variable) 
• Balance Transfer Fee: $0
• Balance Transfer APR: N/A
• Late Payment Fee: $0
• Foreign Transaction Fees: $0
• Overdraft Fee: $0
• Penalty APR: N/A
• Annual Fee: $0
• Intro Purchase APR: 0%

Debit+ Rewards & Redemption Details

Unlocking Affirm Cash Back

A savings account is required to unlock Affirm Cash Back. Once you set up your account and download the app, you can use the Shop tab to find all your purchases from participating merchants. From there, you simply purchase using the Affirm app, but you will need to pay in full using your Affirm card in order to earn cash back. That's it! Your cash back will be deposited into your account within 90 days.

What should you know before you apply?

How do I use Affirm?

You simply use your Affirm account to make purchases. Once you are approved, you can choose how you make payments, whether it is up front or split into four payments.

Does Affirm have a mobile app?

Affirm offers a mobile app that allows you to access your account and make payments. It is available via the App Store or Google Play for iOS and Android devices.

How do I make payments on my Affirm account?

There are several ways to make a payment on your Affirm card. You can sign in to your account using the Affirm.com website, or you can pay via the mobile app. Cardholders can pay using their debit card, checking account, or personal check. 

Affirm Mailing Address for Payments by Check

Affirm, Inc. 30 Isabella Street, Floor 4 Pittsburgh, PA 15212

Is the Affirm Debit+ card available?

The Affirm card is currently accepting applicants for its waitlist. You can join the waitlist to be notified when they begin accepting new members.

What bank issues the Affirm Debit+ card?

Evolve Bank & Trust, Member FDIC, issues the Affirm Debit+ card.

Is there an alternative to the Affirm card?

Klarna works very similarly to the Affirm, using the same debit-credit card hybrid model with Buy Now, Pay Later purchases that are interest-free. 

However, the buy now, pay later model is not for your everyone. If you are looking for a more traditional credit card, some of our top picks for the best credit cards include the Chase Freedom Flex, Discover It Cash Back, and the Bank of America Customized Cash Rewards Credit Card. We also recommend the American Express Serve Cash Back and the Starbucks Rewards Visa Prepaid Card from Chase as the best prepaid debit cards.

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