topic Re: AFFIRM CREDIT in Credit Card Applications

AFFIRM CREDIT

Anonymous — Sun, 04 Jun 2017 12:42:09 GMT

Something I found on AFFIRM FINANCING,,,,,,,,,,,,,,,,,,,,FYI, THEY ARE A SP. Version:1.0 StartHTML:000000191 EndHTML:000002281 StartFragment:000000988 EndFragment:000002203 StartSelection:000001061 EndSelection:000002193 SourceURL:https://www.affirm.com/faqs/FAQs | Affirm

Does Affirm report to credit bureaus?

Yes. Our goal is to give you the opportunity to build your credit history as you repay your Affirm loans. Thatâ€™s why, for loans requested on or after August 3, 2016, Affirm reports information about your loan and payment activity to Experian (and plans to report to other credit bureaus in the future).

Because FICO and credit bureaus calculate your credit scores in ways that are not publicly known, we canâ€™t predict exactly how your credit score will be affected. There are many factors that could impact your credit, such as your payment history, the amount of available credit that you have used, the length of your credit history, and the number of accounts you have recently opened.

Re: AFFIRM CREDIT

Rebuilding69 — Mon, 05 Jun 2017 19:28:15 GMT

ok?

Re: AFFIRM CREDIT

Aduke1122 — Mon, 05 Jun 2017 20:22:58 GMT

Who is this company ? Have never heard of them

Re: AFFIRM CREDIT

Anonymous — Mon, 05 Jun 2017 20:50:52 GMT

@Aduke1122 wrote:
Who is this company ? Have never heard of them

They are a credit company that will approve for credit terms with a SP ONLY and will report to CRA.....There is a link for them but cannot find it

Re: AFFIRM CREDIT

Anonymous — Mon, 05 Jun 2017 21:06:35 GMT

@Aduke1122 wrote:
Who is this company ? Have never heard of them

They do a lot of financing for smaller companies and some larger ones. I think Crutchfield uses them. I used them to purchase some skis from a local vendor a couple winters ago. Back then they weren't reporting to any bureaus and they offered me a few months of 0% on the purchase.

Re: AFFIRM CREDIT

Anonymous — Mon, 05 Jun 2017 21:52:00 GMT

Yup, I've used them...no problems..easy as pie

Re: AFFIRM CREDIT

Anonymous — Mon, 05 Jun 2017 23:32:11 GMT

Beware of Affirm...I had a typo in my birthday on the application and they weren't able to verify my identity. So, I called up and they said they are unable to process another application for anyone if there are any typos in an application associated with the right SSN.

Super weird, never heard of anything like that before. They said it was because their system wouldn't allow them to make changes even after speaking to 3 level up managers. Of course I should not have made the typo, but that is just crazy!

Re: AFFIRM CREDIT

Anonymous — Tue, 06 Jun 2017 00:15:12 GMT

Beware of Typos I'd say. Any mistakes on personal info can be a problem for ANY financial institution.

Re: AFFIRM CREDIT

AverageJoesCredit — Tue, 06 Jun 2017 00:41:08 GMT

Lol, +1 on the Beware of Typos

Re: AFFIRM CREDIT

Anonymous — Tue, 06 Jun 2017 02:00:38 GMT

I heard about them last year and started using their small installment loans to see if my credit mix would be affected by it. I didn't see much of a difference considering I have student loans, but it wasn't that big of a deal. I'm pretty sure that an ebay or paypal founder is behind this.

Anyway, Affirm is pretty easy to use. When I started using them, they only had a small pool of merchants, mostly 2nd hand clothing stores and organic mattress sellers. Nowadays, they've partnered with Expedia and have developed virtual cards for even more merchants that don't appear to support Affirm on their checkout pages. Like I said, they're easy to use. The only thing I hate is that they use your cell number as your login instead of allowing an email or perma login.

Also, I'm not sure how multiple Affirm loans affect your credit. So far it looks like they only report to Experian as installment loans.

Re: AFFIRM CREDIT

Dhani76 — Tue, 06 Jun 2017 02:08:39 GMT

Expedia uses them if you want to make payments on your vacation. I used them. Application was easy & I was approved instantly. The downside is exorbitant interest but I knew what I was getting myself into. Hoping to pay it down quickly.

Re: AFFIRM CREDIT

Anonymous — Tue, 06 Jun 2017 04:25:06 GMT

Chase had my address wrong because the banker typed it in wrong for several months before I noticed it on an e-statement. It definitely is an issue, but something I clearly could rectify by calling in. Saying that they are unable to even process another application for credit with my actual info is beyond strange to me.

Re: AFFIRM CREDIT

Anonymous — Tue, 06 Jun 2017 20:27:51 GMT

They turned me down, but at least it was a soft pull. I originally asked for $1,000 at Amazon. Then I tried $200 and still got turned down. I'm better off without it, I guess.

Re: AFFIRM CREDIT

Anonymous — Wed, 07 Jun 2017 05:05:51 GMT

I would avoid them. From what I have learned it shows up as a consumer finance loan which doesn't look so good to lenders.

Re: AFFIRM CREDIT

Anonymous — Tue, 10 Apr 2018 03:31:22 GMT

I applied for a loan with them and was denied about a year ago but my credit has improved and I’m trying again however my phone number changed. They had me email, then call in, wait on hold. Have them call me back and then email me saying they need my picture id sent then I have to wait 10 business days to be able to log in just to see if I get the loan. It’s for a 400.00 item. We shall see I guess. Crazy part is that they can’t notify me when it goes through. Just have to keep trying for 10 business days seeing if it finally works.

Re: AFFIRM CREDIT

3se7ens — Tue, 10 Apr 2018 20:04:03 GMT

I used them to establish credit but they only report to Experian. Affirm reports as an installment loan, not revolving credit.I recommend them for anyone rebuilding or just starting out.

Re: AFFIRM CREDIT

Anonymous — Thu, 20 Sep 2018 13:29:25 GMT

@3se7ens wrote:
I used them to establish credit but they only report to Experian. Affirm reports as an installment loan, not revolving credit.I recommend them for anyone rebuilding or just starting out.

I too am using them for a loan for aquarium gear from Marinedepot.com. Soft pull and I was approved for a $5k loan but only used $1200 of that $5k loan.

If you go to their FAQ you will see that they do report to Experian like you said and they are not a revolving credit card.

So far my first payment was easy they send text and email reminders and I'm looking forward to seeing how they report to EX.

Will update once that happens.

Re: AFFIRM CREDIT

Anonymous — Thu, 20 Sep 2018 14:09:48 GMT

I've used them twice via Expedia for vacations. Be careful on interest...1st time was 26.99 and secod time dropped to 14.92..also, they will SP for approval, but Hardpull once you agree to loan. Only reports to Experian and my score went up very little 10+ points. i did pay them off early. Also, you can;t pay down the loan and push payments out. If you pay extra it's taken off the end of the loan.

Re: AFFIRM CREDIT

K-in-Boston — Thu, 20 Sep 2018 16:57:25 GMT

This thread is over a year old and is not concerning an application. Locked to new comments. If anyone wishes to continue the conversation, please start a new thread in the appropriate subforum. Thanks.