What is affirm?
Affirm offers instant load decisions for online purchases to be paid in fixed monthly installments over 3, 6, or 12 months.
Affirm is one of Canada’s leading installment payment platforms, providing shoppers with payment solutions at their favourite retailers, both in-store and online.
By selecting Affirm as a payment method at checkout, customers can enjoy their purchase immediately while splitting up the cost.
What Is Required to Have an Affirm Account?
To sign up for Affirm:
- To be a resident of Canada
- To be the legal age, 18 years or older. (AB, MB, ON, PEI, QC)
- To be the legal age, 19 years or older. (BC, NB, NF, NT, NU, YK)
- To be a resident of Canada
- A Canadian bank account or Visa, Mastercard, Amex, or Discover credit card, or a Visa or Mastercard debit card (with the Visa/Mastercard logo), which can be used for online transactions.
- An SMS-capable Canadian phone number and an email address.
- To meet the minimum cart size required to use Affirm as a payment option at checkout
Does Affirm Perform a Credit Check? Does It Impact My Credit Score?
Although Affirm performs a credit check when you apply for a loan, this won't impact your credit score. However, if you're approved and decide to buy with Affirm, your loan, and payments may affect your credit score. Paying on time can help you build a positive credit history.
Why Was I Denied Financing by Affirm?
The store has no information regarding a customer's financing denial. Affirm strives to offer all credit-worthy applicants financing with Affirm but isn't able to offer credit in every case. Affirm will send you an email with more details about its decision. Unfortunately, Affirm's decision is final.
Why Was I Asked to Verify My Identity?
If Affirm has difficulty confirming your identity, you may need to provide more information. Affirm uses modern technology to confirm your identity, including verifying your address or requesting a photo of your ID. Affirm takes these steps in some cases to counter fraud and provide the most accurate credit decision they can.
Why Was I Prompted to Enter My Income?
Affirm may sometimes need more information about your finances and your ability to repay in order to make a credit decision. Your income gives Affirm additional insight into your ability to repay.
Why Was I Prompted for a Down Payment?
Affirm isn't always able to offer credit for the full amount you request. In these cases, Affirm asks you to make a down payment with a debit card for the remainder of your purchase. The down payment amount can't be changed and must be made upon confirming your loan and before the loan offer expires.
Will I See How Much Interest I Am Paying Prior to Accepting My Loan?
Yes! Affirm works hard to be completely transparent. You'll see the amount of interest you'll owe on the terms page and again on the loan confirmation page. If you pay off your loan early, you'll receive a rebate for any interest that hasn't yet accrued.