Item: Affirm
Rating: 5
Author: Jackie Veling

5.0

NerdWallet Rating

Loan amount

$35 - $20K

Est. APR

36.00%

Min. credit score

None

Fees

No fees

Payment options

Pay in 4, Monthly payments, Pay in 2, Pay in 30

What is Affirm?

Affirm is a “buy now, pay later” provider that offers payment plans to shoppers, including its zero-interest Pay in 4 and its monthly payment plan, 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 in 2025

What the nerds think

“When I consider who the top BNPL lenders are, Affirm is top-of-mind. You can use their payment plans almost anywhere, there are never any fees (not even late fees) and there are a few interest-free options to choose from, so you can pick the plan that best fits your budget."

Jackie VelingLead Writer

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.

Once you opt into a plan, you may owe a downpayment at checkout. Future payments are automatically billed to your debit card, credit card or bank account, though you can turn autopay off and make manual payments for the duration of the loan.

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

Payment structure: Pay in four installments, due every two weeks.
Interest: 0%.
Availability: Available for online and in-store purchases starting at $35.
Amount due at checkout: Typically the first installment (one-fourth of the purchase price).

Affirm Monthly Payments

Payment structure: Pay monthly, with terms from three months to five years.
Interest: 0%-36%.
Availability: Available for online and in-store purchases up to $20,000.
Amount due at checkout: A down payment may be required for some shoppers.

Some shoppers may also have access to Affirm Pay in 2 and Affirm Pay in 30. Pay in 2 lets shoppers split their purchase in half via equal, interest-free payments, with the first payment due 15 days after the purchase. Pay in 30 lets shoppers pay in full, interest-free, 30 days after making the purchase.

Is Affirm safe?

Affirm is a safe and reputable provider of BNPL loans. However, NerdWallet doesn’t recommend using a BNPL loan to pay for a non-essential purchase, like recreational shopping. That’s because BNPL is still a form of debt, and it’s easy to get in over your head, especially if you struggle with overspending. Plus, if you fall behind on payments, your credit score could suffer, making it harder to qualify for affordable credit in the future.

» LEARN MORE: The pros and cons of BNPL

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 — Affirm will finance up to $20,000 — and terms up to five years. If you can’t qualify for traditional credit, this may be one way to pay for a large essential purchase over a longer period of time.
Reports payment history: Affirm reports payment history for all of its pay-later loans to the credit bureaus Experian and TransUnion. It’s unclear how BNPL is factored into overall credit scores, so if building credit is a priority for you, it’s better to go with a traditional financing option, like a personal loan or credit card. (See more on alternatives below.)
Dispute resolution: If you’re having trouble settling a dispute with a store — for example, you never received your purchase in the mail — you may open a dispute with Affirm. While the dispute is under investigation, Affirm won’t collect payment until it reaches a resolution, which should be within two complete billing cycles, Affirm says. Other BNPL providers require you to continue making payments on your loan even if you’re in an active dispute, which can be frustrating for customers who may have never received their purchase in the first place. Note, though, that if Affirm settles the dispute in the store’s favor, any payments skipped during the dispute will be due immediately.

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.

Detailed breakdown

NerdWallet rates lenders against a rubric that changes each year based on how BNPL products evolve. Here’s what we prioritized this year:

Product Affordability(35%)

5/5

Product Flexibility (30%)

4/5

Customer Experience (20%)

3/5

Customer Protections(15%)

4/5

Overall(1%)

5/5

» LEARN MORE: NerdWallet’s methodology for rating BNPL products

Does Affirm check credit?

Affirm checks your credit with a soft pull when you create an Affirm account or apply for a payment plan. This won’t hurt your credit score. Though there’s no minimum requirement, Affirm considers your credit score as part of your application.

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 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.

🤓

Nerdy Tip

One of the best ways to get approved for a BNPL loan is to show a history of on-time payments with that provider. Consider using BNPL to make a small purchase first, then pay off your loan on time or early. This may help you get approved for a slightly larger purchase in the future.

Compare Affirm to other BNPL lenders

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

5.0	4.5	4.0	3.5
APR
0% for pay-in-four. 0%-36% for monthly financing.	0% for pay-in-four. 0% for pay in full in 30 days. 0%-35.99% for monthly financing.	0% for pay-in-four. 0%-35.99% for monthly financing.	0% for pay-in-four. 9.99%-35.99% for monthly financing.
Terms
Pay in four installments, due every two weeks. Pay monthly, with terms of three to 60 months.	Pay in four installments, due every two weeks. Pay in full within 30 days after the order ships. Pay monthly, with terms of six to 24 months	Pay in four installments, due every two weeks. Pay monthly, with terms of three to 24 months.	Pay in four installments, due every two weeks. Pay monthly, with terms of three to 24 months.
Fees
No fees	Late fee: Up to $7. Service fee: Up to $3.	Late fee: Up to $8.	No fees

Alternatives to Affirm

0% APR Credit Cards

If you have good or excellent credit (any score in the mid-600s or higher), you may consider applying for 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.

Since your payment history is reported to the credit bureaus, it’s a reliable way to build credit. Make sure you pay off the purchase before the introductory period ends or you’ll owe interest on the remaining balance.

See NerdWallet’s top picks for the best 0% APR credit cards

Small Personal Loans

If you’re looking to fund a large, essential purchase, you could apply for a personal loan. Most personal loans start at $1,000 or $2,000, and there are options for borrowers with fair or bad credit (any score in the low 600s or below). Personal loans have fixed interest rates and longer repayment terms, both of which can help you budget for the monthly payments.

Personal loan lenders report your payment history to the credit bureaus, and they typically charge late fees.

Many lenders offer pre-qualification, so you can check whether you qualify for a small personal loan without hurting your credit score.

Pre-qualify with multiple lenders for free with NerdWallet

Frequently asked questions

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.
Does Affirm affect your credit score?
Applying for Affirm won’t affect your credit score. However, Affirm reports payment history to the credit bureaus Experian and TransUnion, so overdue or missed payments could hurt your score, especially if you become significantly delinquent and are sent to collections. Affirm says its loans aren’t charged off until they’re 120 days past due.
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.
How legit is Affirm?
Affirm is a legitimate provider of buy now, pay later loans and partners with major retailers like Amazon, Walmart, Target and Apple.
Why is it so hard to get approved for Affirm?
Affirm has many approval criteria, including looking at your credit score, credit history, the details of the purchase and any prior history you have with Affirm. Applying for a small purchase ($50 or less) that you repay in four installments may help boost your odds of qualifying and gives you the opportunity to show responsible repayment payment behavior by paying the loan back on-time or early.