Affirm is a Buy Now, Pay Later (BNPL) credit model that allows consumers to make purchases now and pay over time without interest. You can choose from two payment structures: traditional monthly payments or Affirm Pay in 4, which lets you make four interest-free payments every two weeks. Either way, you can get what you need today without worrying about fees and interest like a traditional credit card.
The Affirm logo appears when you checkout, and all you need to do is create an account to unlock Affirm Cash Back. You need a savings account to sign up, but once you do, you have access to in-app purchases where Affirm is accepted. If you’d rather have a debit card, Affirm has that too, although the built-in app makes it easy. Buy now, pay later with Affirm on purchases from places like Walmart, Peloton and Amazon.
With Affirm, there are none of the typical fees with no balance transfer fees, annual fees, late payment fees, or foreign transaction fees. However, while the APR can be as low as 0% to start with, it can also go up to 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 might be the right one for you.