Last Updated: 04/18/2025
SuperMoney User Recommendation Score +41
Mostly recommended17 total votes
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Highlights
Community Rating
Mostly recommended
APR (Fixed APR)
10% - 30%(Verified 06/21/2024)
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Amount Range
N/A
Loan Term (Months)
3 - 12
Number of Reviews
Affirm Installment Loans Review
Affirm Installment Loans is offered by Affirm Inc., a direct lender founded in 2012 and based in San Francisco, CA. Affirm loan are available in 49 states and Washington, DC.
Key Takeaways
- APRs starting at 10%. Personal loan interest rates typically range between 9% and 36%. The starting rates for Affirm Installment Loans are on the higher end of the spectrum.
- Fast access to funds. If approved, Affirm Inc. will send the money in as little as 24 hours.
- Prequalified rate. You can check your prequalified rate at Affirm Inc. with a soft pull that will not affect your FICO or VantageScore.
- No late fees. Affirm Installment Loans will not charge additional fees if you miss the due date on a payment.
- Short loan terms. Affirm Installment Loans have loan terms as short as 3 months.
Affirm loan Pros & Cons
| Pros | Cons |
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Affirm loan FAQ
What interest rates and personal loan terms does Affirm loan offer?
What interest rates does Affirm loan offer?
Affirm loan offers a fixed APR personal loan product that ranges from 10% APR up to 30% APR.
What is the maximum loan term you can get with Affirm loan?
Affirm loan offers loans with terms of up to 12 months.
| Personal Loan Amount | N/A |
| Loan Term | 3 - 12 months |
| APR | 10% - 30% |
What fees does Affirm loan charge?
Does Affirm loan charge an origination fee?
Affirm loan may charge a personal loan origination fee .
Does Affirm loan charge a late fee?
No, Affirm loan will not charge you a late fee if you miss payments.
Does Affirm loan charge prepayment fees?
No, Affirm loan does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the personal loan off early.
| Origination Fee | No |
| Prepayment Fee | No |
| Late Payment Fee | No |
What do you need to qualify for Affirm Installment Loans?
Applicants with a credit score of at least 640 and up to 850 may be eligible for Affirm Installment Loans. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Affirm Installment Loans does not have or does not disclose a minimum annual income eligibility requirement.
| Minimum Age | 18 |
| Bank Account Required? | No |
| Application Types Accepted |
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| Credit Score | 640 - 850 |
What is the estimated funding time for a personal loan via Affirm loan?
Affirm loan will typically fund loans within 1 to 7 business days of approval and clearing necessary verifications.
Does Affirm Inc. perform a hard credit pull?
As is the case with most providers, a hard credit pull will likely occur if you accept an offer after checking your rates. Affirm loan allows you to check your rates with a soft credit pull.
Are Affirm Installment Loans legit?
Affirm Inc. was founded in 2012, it is a well-established company that has been in business for 14 years. Based on their "mostly recommended" SuperMoney community rating, they seem to be a reputable company.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Message from our editor
What We Love About Earnest
One of the best things about Affirm personal loans is the hybrid design offered by the company. It offers the benefits of a credit card and a personal loan in a single product. Consumers get a loan decision immediately, coupled with simple and flexible financing. This lender also takes applicants with little credit history and provides a secure payment method for peace of mind.
What Could Affirm Do Better?
Interest rates can be high for borrowers with poor history when choosing Affirm. Also, the loans offered are installment loans that are three, six, or 12 months in length, which may not meet the needs of all consumers. In some cases, Affirm doesn’t offer the full loan amount but instead requires a down payment using a debit card.
Affirm Backstory
Max Levchin, Nathan Gettings, and Jeffrey Kaditz launched Affirm in 2013 as a team of financial tech entrepreneurs. Levchin, the CEO, was a co-founder of PayPal. Gettings, the Chief Risk Officer, was a co-founder of Palantir Technologies. Kaditz, the Chief Technology Officer, was the founder of Touch Revolution and a program manager at Microsoft.
Affirm receiving $45 million in funding in its first round from Khosla Ventures, Nyca Partners, and Lightspeed Ventures Partners. The second round of funding in 2015 raised $265 million with Stark Capital as the primary investor. This company is located in San Francisco, California, and offers more than 100 stores. It presents an easy way for consumers to buy products online and pay later without leaving the store’s checkout.
The Verdict
Affirm personal loans offer a streamlined application process with accessible options for many individuals. However, it’s always a good idea to explore all of your options before selecting a lender. Some lenders may have lower interest rates or less stringent credit requirements.
Checking to see if you qualify for better terms and rates with another lender, asking friends for a loan, and cutting back on expenses are other options. Even those who have less than excellent credit may be surprised to find they qualify with several companies.
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Learn MoreSuperMoney Net Recommendation Score
SuperMoney users mostly recommend this product, giving it a user recommendation score of +41, or 3.8 on a 5-point rating scale.
+41
-1000+100
No one recommends
Everyone recommends
Affirm Installment Loans Community Reviews
Would you recommend Affirm Installment Loans to your friends?
CM
Carina M.
Apr 19, 2023
May or may not recommend
I have an Affirm account and would highly recommend it to others. I am currently paying off my wife's wedding ring through Affirm and I don't have any complaints. My monthly payment is very reasonable, it's easy to make a payment on the app, see how much I have left to pay, and keep records of my payments easily and efficiently. The APR percentage is quite high but I am ...Show More
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
I love Affirm. I needed to get a flight and hotel stay didn't really have the money and I paid for it through Affirm. Easy to get approved and you get to pay it off in time instead of up front.
Rickey M.
Oct 16, 2022
May or may not recommend
I would recommend using Affirm if you really need to purchase something or if you are trying to not dip into your nest egg. They really are a great service and can help in either situation. I used them when I wanted to get new tires and rims on my vehicle to avoid dipping into my savings. The whole process was simple and easy, and I will definitely use them ...Show More
JT
Jesus T.
Sep 28, 2022
May or may not recommend
I have been with Affirm for two years or more. I can shop about everywhere Theey are the best and growing company..
TP
Tayonna P.
Sep 21, 2022
May or may not recommend
I have used Affirm installment loans on multiple purchases and it has always been a good experience.
Hollie B.
Aug 23, 2022
May or may not recommend
I love Affirm. I needed to get a flight and hotel stay didn't really have the money and I paid for it through Affirm. Easy to get approved and you get to pay it off in time instead of up front.
JB
Jessica B.
May 17, 2022
May or may not recommend
Affirm is easy to use and be approved for, and installment options make it even easier!
DS
Daniel S.
May 16, 2022
May or may not recommend
Affirm is a good way to purchase something if its an important purchase. I don't recommend it if your goal is to build credit but they can be helpful in other situations. Also, its good to avoid loans with high APRS. The good news though is you can save money and pay the loans off early without a fee. Read the terms of your loan before accepting because its easy ...Show More
JY
Jessica Y.
Apr 6, 2022
May or may not recommend
I would recommend Affirm loans. They are great to use when you want to purchase an item but cannot afford to buy it out right. They offer affordable payment options for your budget. I have gotten furniture and electronics using Affirm. They were easy to work with when I ran into some issues and was able to adjust some of my payments.
VA
Victor A.
Nov 3, 2020
May or may not recommend
I have used Affirm multiple times now and purchased two of my favorite river toys because of them. The interest is really low, which is a great perk. What I like about them most though is that you can set up payments for a year, but if you pay the payment off in six months you are not penalized or charged the interest for the full twelve months. The App ...Show More
WE
Willie E.
Jun 27, 2019
May or may not recommend
i was not asking for a loan ,your money will be with/draw every 4th of the month
from my retirement. direct 6018310092
Love K.
Jun 19, 2019
May or may not recommend
Hate this affirm. They are everywhere and soliciting to get a loan from them..they ask all kind a personal questions, face photos, id front and back. hold id next to face and take pictures. Ssn.. etc...how annoying to fiill out the firm. Wating time to do the work and simply not approve after credit check. Why even bother to send a pictures.. just let them know..it will check credit score ...Show More
NU
Nane U.
May 5, 2019
May or may not recommend
I am have applied for affirm with good credit score and I get declined also I recommend affirm for my friend before i am aplied and he get declined too he have very good credit score I believe that the try to get your information for some reason it’s really very terrible company
HQ
Henry Q.
Dec 13, 2018
May or may not recommend
Charged me for three loans instead of one. None of them processed with the vendor. So the company has kept me in limbo and has not solved the problem in almost 60 days. Completely unacceptable.
KK
Karen K.
Aug 31, 2018
May or may not recommend
Never received the product but was charged an interest fee. When I called to see why I owed an interest fee on a product I never received I was told I owed the fee the day I signed for the loan regardless. Never heard of before...… Lesson learned.... Never again.....
MM
Mark M.
Jan 23, 2018
May or may not recommend
I love Affirm! I've had about eight microloans with them and I've never had an issue. They've evolved overtime where as now, you can use their app to make purchases virtually anywhere with an instant virtual Mastercard!
Gail E.
Dec 5, 2017
May or may not recommend
I have had several loans through affirm. The process is quick and simple. This is an online vendor loan company. You open an account by making a purchase at one of many online retailers that accept Affirm in payment.
The interest is reasonable and before you accept the loan, you are very clearly informed of. Your payment amounts and length of time to repay. Typically, they offer 6, 12 or 18 ...Show More
Showing 17 of 17 reviews
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