Affirm Personal Loans Review, July 2025

Affirm offers personal loans exclusively for retail purchases and services with no origination fee, no credit impact, and, potentially, no interest. Once you apply for an Affirm loan online, you'll receive a decision right away. If approved, your order will be processed immediately, and the loan will be funded.

Affirm interest rates and loan details

Who are Affirm personal loans best for?

Best for short-term, interest-free financing

Affirm's motto is “Buy Now, Pay Later” or BNPL. And some Affirm BNPL plans are interest-free. Most loans are 0% APR if you can pay off the purchase within six weeks; but some longer-term loans offer 0% interest financing as well. The process is similar to layaway, but the upsides are:

• You get whatever product you're purchasing right away
• You get longer interest-free financing than you would with a credit card's grace period

You have a couple of ways to use Affirm's personal loans. If you choose the pay-in-4 option or are approved for a longer term with no interest, you don't have to worry about interest rates (as long as you make payments on time). In some cases, you may not have to make a down payment when you purchase. Payments will typically commence two weeks or one month after your purchase, depending on the plan.

If you choose the monthly installment loan option, you could qualify for a repayment term as long as five years. But interest rates range from 0% to as high as 36%, depending on your credit and the length of your repayment term.

Great for retail purchases

BNPL was designed to make buying online and, now, in-store easier. While you can't access cash with an Affirm loan, Affirm BNPL is offered and accepted widely via the app or at checkout. Or, you might qualify for an Affirm card that you can use to request payment plans before and after checkout on eligible purchases.

Pros and cons

Pros

• Instant funding: Whether in-store or online, once approved, you can start making purchases.
• Finance purchases without a credit card: If you don't have or don't want a credit card, BNPL can be a solid and interest-free alternative.
• Interest-free financing: Pay-in-4 plans and some longer-term plans charge no fees or interest.
• No credit score impact to apply: You can apply for short- or longer-term funding without any impact on your credit score.
• Some plans won't impact credit: Unlike many lenders, Affirm does not conduct a hard credit pull if you choose a pay-in-4 plan and some other short-term options.
• Can be used at thousands of stores: You'd be hard pressed to find a retailer that doesn't accept Affirm.
• No fees: Affirm doesn't charge late fees, annual fees, loan origination fees, or early repayment fees.
• Fast disbursement: Affirm is a same-day loan provider. You should know very quickly if you're approved to make a large purchase.

Cons

• Short loan terms: Affirm is generally a short-term loan provider. Most of its loan lengths are 3, 6, and 12 months long. Loans may be available up to 60 months, but there is no guarantee every borrower will get this option, and such terms may be reserved for larger loan amounts.
• Potential for a high interest rate: It depends on your credit score and credit profile, but Affirm may charge an APR up to 36%.
• Down payment may be required: Whether you choose the pay-in-4 option or the monthly installment option, you may be required to make a down payment at checkout.

Current personal loan interest rates

The chart below shows average interest rates for loans with three- and five-year repayment terms based on data from the Credible personal loan marketplace. It indicates how the interest rate you qualify for could be affected by your credit score. Typically, a higher credit score means you'll receive a lower APR. If a pay-in-4 plan doesn't fit your budget, a personal loan could have similar or better rates compared to long-term BNPL options.

How to qualify

To qualify, Affirm will consider your income and credit history, though it doesn't run a hard credit check when you apply (only when you accept a longer-term loan option). You'll also need to have a valid Social Security number, be a resident of the U.S., a U.S. territory, or Canada, have a phone that can receive SMS text messages, and be at least 18 years old.

Credit score and financial history

Affirm doesn't list a specific credit score on its eligibility requirements page. This doesn't mean, however, that it will accept any credit score. In order for your application to be as strong as possible, make sure your accounts are current (meaning all payments are up to date) and that you have a low credit utilization ratio. The ideal credit utilization ratio is zero, but less than 30% is often acceptable.

Income and employment

As with credit scores, Affirm doesn't disclose specific income requirements online, except that you may need to verify your income to be approved.

Affirm personal loan purposes

Affirm personal loans are intended to help buyers make large purchases with retailers and merchants.

Loan fees and penalties

Affirm doesn't charge any fees — no loan origination fees, late fees, or early payment penalties.

How Affirm compares to other lenders

Affirm's lack of fees makes it a strong competitor if you need to purchase something within its vast network of retailers. You might consider other BNPL apps like Klarna and Afterpay, but both come up short relative to Affirm. For instance, both charge fees for late payments and offer shorter maximum repayment terms.

If you're looking to repay over months or years, compare any BNPL provider terms with a traditional personal loan. It's easy to prequalify without a hit to your credit score, and you could get a lower rate. (Applying for a personal loan may ding your credit temporarily, depending on the lender.)

How to contact Affirm

If you have any questions, Affirm has a dedicated help center page for its customers. Just choose a category that best reflects your question and go from there.

You can also call 855-423-3729 between the hours of 8 a.m. and 11 p.m. ET seven days a week, chat with a representative online between 7 a.m. and 7:30 p.m. ET Monday-Friday, or email [email protected].