How does affirm work (Buy Now, Pay Later with Affirm)

Everyone shops online, but what if we need some urgent stuff to buy, which we can pay later with installments and a small premium. Now it is possible with Affirm; you can pay overtime at your favorite brands. You may have a question How does affirm work so? If you use affirm, then there are no late fees or compounding interest. Affirm is just a more responsible way to say yes to the things you love to buy.

Whether you’re buying a new mattress, shopping for an outfit that wows, or planning the trip of a lifetime, you want to feel good about the things you buy. And with Affirm, you can. Affirm is a “simple to buy now and pay later” program. Select Affirm at checkout to get a real-time decision, then pick the monthly payment schedule you like best.

What is Affirm:

Affirm is a leading buy now and pay later payment provider. The San Francisco-based company allows shoppers to spread the cost of their purchases over 6, 12, and 18 months. The benefit of Affirm is that the interest rate for large purchases can be as low as 10% as long as you pay the repayments on time.

How does Affirm work?

Affirm solves customer financing problems and gives them the power to buy what they need today without hidden charges. Affirm is a third-party lender that offers credit to shoppers on Merchant by asking for a small service charge.

Here are four simple steps which explain how does Affirm work:

  1. Very buy now, pay later provider works a little differently, though the basic premise is the same: 
  2. At the checkout point, under payment options, you are offered the option to spread out your payments for whatever you’re purchasing. You apply and are (usually) approved in seconds for what’s basically a short-term loan: 
  3. You make a small down payment, and then agree to pay off the rest in installments over a few weeks or months.

Why Affirm

95% of people use credit cards for shopping, and 35% of people pay late fees or interest on that shopping. These expenses not only cost you money as of late fees and interest but badly affect your credit score. And that is the main reason why Affirm started. With Affirm, you will never pay late fees or interest. As per Affirm official site:

How does Affirm work at Walmart?

Since 2017, Walmart customers have had the option of paying with Affirm at checkout on, Allswell, and Hayneedle. Affirm’s simple financing available at nearly 4,000 Walmart Supercenters today through 3, 6, or 12-month payment terms. will soon offer Affirm as a payment option.

How does Affirm work at Wayfair?

By offering Affirm, Wayfair is making financing more accessible to shoppers. Before making a purchase, Wayfair customers can view their monthly payments upfront by selecting Affirm at checkout. Using Affirm at Wayfair, shoppers know upfront the total cost. There are no hidden fees or charges.

Wayfair Inc. offers an extensive collection of home furnishings and décor across all price points and styles. Wayfair’s family of brands includes:

  • Wayfair is your one-stop shop for all things home.
  • Find incredible savings and beautiful furniture at Joss & Main.
  • We make modern design more accessible with AllModern, a go-to online source.
  • DwellStudio is a contemporary design studio.
  • A collection of classic furnishings and timeless home décor from Birch Lane
  • According to its annual report for the year ended June 30, 2016, Wayfair generated $2.87 billion in net revenue. More than 5,300 workers are employed by the company in North America and Europe, which is headquartered in Boston, Massachusetts.

How to signup Affirm:

  1. Click on referral link.
  2. Put your name and other details
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  5. With some point of sale loans, your payments are automatically divided into four installments. Specifically, that means an initial down payment at the time of purchase, followed by three additional installments.

Affirm Referral Program: How it works?

Affirm has a great referral program where they pay $50 for you and $50 for them. Here is affirm referral step by step process:

  • Invite a friend using the referral banner in the Affirm app; if you do not have Affirm, signup using the link to get $50. 
  • After a successful subscription, you will get your referral link.
  • Using your referral link, share with your friends, family, and in your social circle. Because why not help them so that they can save money too and have few earning by doing this generous process.
  • Now help them to get signed up for an Affirm account.
  • Have your friend takes out their first Affirm loan shopping within 90 days of the link creation.
  • After they make their first purchase with Affirm, you’ll each get $50 in your Affirm Savings accounts.

Great, Now You and your friend have already subscribed affirm successfully! Thank you so much for joining us on the financial freedom journey of making a positive change in the world. 

Affirm Referral Bonus:

Wealthbooking promotes Affirm and helps our readers by giving different offers for Affirm promo codes or our links. 

Use Affirm promo code link – to get a $100 Hotel Saving gift card

If you use any of the five offers from $1000 fast earning, you will get 3 nights Vegas voucher absolutely free. Click to know about Affirm Referral Bonus program and offers.

Affirm features:

1. As low as 0% APR 

2.Pay on the go, wherever you go: Download the Affirm app and discover a new way to pay overtime almost anywhere.

3. Affirm is beneficial for Businesses and shoppers as it gives flexible time to pay money to shoppers.

4. Affirms referral program makes people make more money.

5. It doesn’t hurt my credit score much.

Affirm for Businesses:

Customer financing solutions give your customers the power to buy what they need today. With a Simple setup for small businesses and Short applications for shoppers, Affirm can be a win-win situation for both small businesses and shoppers.

How does the Affirm referral program work?

Affirm referral program make a win-win situation for both who signed up the affirm and promoters. 

The Affirm promo code gives $50 to referrals every time anyone uses their code. And the person who signup also gets $50.

To activate the offer, click on the referral link or use Affirm promo code during Affirm sign-up process. 

Pros & Cons


  • It charges a small premium, and No-interest financing is available.
  • No fees.
  • Offers pre-qualification.


  • You may pay a higher payment.
  • Delay on reporting payments to the three credit bureaus.
  • Not available at all retailers.

Affirm reviews:

Customers can buy items today and pay later using the Affirm app. With an Affirm loan, you’ll know the payment schedule in advance of completing the purchase without the need for a credit card. The service always charges the agreed-upon fee for its customers. Affirm never imposes additional fees for its services.

More than 11,500 retailers accept Affirm at their online or mobile sites. Any retailer that accepts Visa credit cards can create virtual card numbers using Affirm app. When completing their purchase, customers can choose a payment schedule of up to 36 months instead of the standard Pay in 4 methods offered by most competing BNPL apps.

Pros Explained

  • Low interest rates are as low as 0%. : Affirm offers 0% interest rates on some purchases from retailers. We offer no-interest financing to ensure that you will not pay anything over and above what you originally paid.
  • There are no hidden fees at Affirm, including late fees. The company does not charge late fees. Payments aren’t charged a late fee if they arrive late; however, your ability to shop is restricted. Affirm may reduce your chances of getting a new loan if you make partial or late payments. Customers who have difficulty making timely payments will find Affirm one of the best options since it does not charge any fees.
  • There is a maximum purchase amount of $17,500. 
  • BNPL’s app has confirmed the largest sale amount we’ve seen thus far. As well as financing for smaller purchases, they offer to finance for large purchases up to $17,500. You may have to make a down payment if you wish to make such a large purchase.

Cons Explained

  • Interest rates up to 30%. When shopping with BNPL, consumers often try to avoid credit card interest rates that may add up quickly. For retailers who don’t offer 0% financing, customers may want to look at other payment options first. Standard interest rates range from 10% to 30%.
  • Credit checks may be required. Affirm Customers’ credit information may be collected softly to verify their identity and to provide a spending limit by Affirm. BNPL lenders sometimes do not check their clients’ credit at all, which does not affect their credit score. The customer may not be able to get approved for a purchase or will pay a higher interest rate if they have bad credit.
  • Prequalification does not guarantee approval. 
  • You can estimate the amount you can spend when using Affirm by completing the prequalification process. Before you can complete a potential purchase, you must be approved. The transaction can be declined even if you are prequalified.

How It Works

Affirm gives you a prequalification and a maximum spending limit when you open an account. Affirm limits the maximum purchase amount to $17,500, which varies by customer. Affirm must approve the transaction whenever you make a purchase, even if you are well within your spending limit.

During the checkout process, you will be given a variety of payment options to choose from. Most purchases receive payment plans of three, six, or 12 months instead of the standard Pay in 4 offered by other applications. The payment period for some transactions maybe longer.

According to your purchase contract, your credit card or bank account is automatically debited. If your payment is late, you will not be charged a fee, but late payments may impact your ability to make future purchases with Affirm.

Because most BNPL apps offer Pay in 4 financings, Affirm may be a better choice for shoppers who prefer to pay off their purchases over time.

Interest and Fees

Shoppers’ interest rates depend on their credit history and the retailer they are shopping with. In Affirm’s app and on its website, you can find many retailers offering finance as low as 0%. Some of the retailers include famous brands such as Dyson, Casper, and Ring.

A retailer’s credit history and your credit rating determine the interest rate on other purchases that charge interest. Due to the simple interest rate, you will not have to worry about compound interest during the repayment period.

There are no fees associated with opening an account or loans with Affirm. If your payment is late, you will not be charged; however, your late payment may affect your credit history.

As with another buy now, pay later services, Affirm provides 0% interest financing. Most of those require you to pay 25% down when you’re approved and 25% every two weeks until the transaction is complete. Affirm offers loans typically three, six, or 12 months long, despite its higher interest rate. There are some that last up to 36 months.

 Fees, including late fees, are not charged by Affirm.

Approval Process

Affirm financing starts with opening an account when you are ready to start financing your purchases. Affirm will perform a soft inquiry on your credit report to verify your identity and review your credit. You won’t see a soft inquiry on your credit report, so that it won’t affect your credit score.

According to your credit report and personal information, you will be prequalified to make purchases up to your spending limit. Affirm will review each transaction independently each time you make a purchase. Your transactions may be approved regardless of your purchasing limit, even if you have available credit.

To make purchases, you’ll need to link your bank account or debit card number. This is where you will make your payments from each billing period.

Mobile App

Mobile apps are available for both Apple and Android devices from Affirm. The app lets you pay your bills, view your transaction history, and browse your account. Your shopping history, favorite retailers, and spending limit are all used to tailor your shopping experience.

Over 11,500 merchants accept the app, or you can create a virtual card for use anywhere Visa is accepted. At participating merchants, you can get exclusive offers and special financing rates as low as 0%. Additionally, you can request a refund through the app if you need to return an item.

As part of its shopping functionality, Affirm’s app lets customers open high-yield savings accounts. A few dollars is all it takes to open it since there is no minimum balance or monthly fee.

Customer Service

Affirm can be difficult to reach for questions about your account. Customer service cannot be contacted by phone or email on the website. To find answers to your questions or problems, you’ll have to look through the Help Center menus. A few Help Center articles include web forms for requesting information, such as verification that a loan has been paid off.

Customer Satisfaction 

Affirm financing options may be satisfactory for many customers, but communication with customer service can be convoluted due to a lack of straightforward options. Based on online customer reviews, this seems to be the root cause of negative experiences with the company.


How to buy with Affirm

Shop your favorite stores and then select Affirm at checkout. Enter a few pieces of information and get a real-time decision

Will Affirm impact credit score?

No, Creating an Affirm account and seeing if you prequalify will not affect your credit score. Affirm will perform a soft credit check. But If you decide to buy with Affirm, these things may affect your credit score as how much credit you’ve used and how long you’ve had credit. 

How much and how long do I need to repay Affirm?

All available options you need to select during payment. You can select 3 months, 6, or 12 months depending on your comfort of payment. You need to pay a small premium, but they will show all premium charges upfront without any hidden charges.

How do I get started with Affirm program?

Just follow these 3 steps : 
1) Click on Affirm -> “Start Here,” 
2) click on “Get Started Now.” You will be taken directly to your account page, where you can sign up or log in to an existing account.
3) During Payment, select Affirm option and make payment via Affirm installments.

Does Affirm have a referral program?

Yes, you can introduce your friends to a better way to pay. Refer them to Affirm, and you’ll each get $50 once they make their first pay-over-time purchase. Read Affirm Referral bonus for detail.

I have a poor credit score. Can I qualify for Affirm?

Affirm reports that you’re “more likely to be approved” for their financing if your credit score is 640 or higher. There are user reports of being approved with a score as low as 600. 

Can anyone apply for Affirm?

Affirm may not work for everyone as still money has to be paid after your buying. So if you are expecting money from Job which can be made as to future payment, then only go with Affirm. In another case, if you have a lot of money, then why choose Affirm because this is still a loan program where you pay extra from the worth of the product’s cost.

How to contact Affirm?

Customer Service:

  • (855) 423-3729

Affirm Emails:

General Info


Wealthbooking recommends that you only buy using Affirm when you are getting funds to repay. However, this is a great program where you can enjoy a quality life by paying a small premium. If you use a credit card and forget to make a payment, you will pay $35 late fees and more than 24% APR interest. Signup Affirm and Enjoy all benefits.