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FAQs on Affirm Financing

Chester T avatar
Written by Chester T
Updated over 3 months ago

1. Will Affirm affect my credit score?
Checking your eligibility with Affirm will not affect your credit score. However, the following factors may impact your credit score.

  • Completing a purchase through Affirm

  • Your repayment history with Affirm

  • Your total credit utilization

  • The length of your credit history with Affirm

2. Does Affirm charge interest or fees?
Affirm does not charge hidden fees. There are:

  • No late fees

  • No prepayment fees

  • No annual fees

  • No account setup or closure fees

However, some purchases may include interest charges, depending on your credit score and the merchant’s policy. All applicable interest rates are shown clearly upfront before purchase confirmation.

3. What does it mean to prequalify?
Prequalification gives you a spending estimate without obligation. It helps you see how much you may be eligible to spend with Affirm, and you are not required to use the full amount or proceed with a purchase.

4. What if I don’t see Affirm at checkout?
If Affirm is not visible during checkout, you can still use it by:

  • Logging in via the Affirm app or visiting affirm.com

  • Selecting Sohnne or the store of your choice

  • Requesting a one-time-use virtual card to complete your order

  • Paying over time via Affirm’s standard installment plans

5. Will I always get 0% APR?
Not all purchases qualify for 0% APR. Your APR depends on your credit eligibility. While many orders qualify for 0% APR for 3-month plans, other purchases may include interest between 10% and 36% APR, depending on your credit score.

6. How do I check my eligibility for Affirm?
Checking your eligibility is fast and secure and won’t impact your credit score. To check:

  • Choose Affirm as your payment method at checkout

  • Provide the requested details

  • Receive an instant approval decision in seconds

7. What happens if I miss a payment?
If you miss a payment, Affirm will send you reminders via text and email. Affirm doesn't impose late fees, but failing to make payments on time can:

  • Reduce your chances of future Affirm approval

  • Negatively affect your credit score

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