Your payment history, how much credit you've used, late payments and how long you've had the credit line open can affect your credit score. It doesn't report 0% four-biweekly payment loans or 0% loans with a three-month repayment period. It also reports some loans to the credit bureau Experian. However, if you're late with payments, you might not able to get a loan from Affirm in the future, and it could potentially affect your credit score.Īffirm uses a soft credit check when approving consumers for loans. If you manage to secure a 0% loan, you also don't have to worry about late fees, which is rare. However, the interest rate that you manage to secure on your loan depends on a variety of factors - including the purchase amount, length of payment term and the merchant - so you could end up with an APR as high as 36%. Affirm is one of the few buy now, pay later providers that offer consumers long-term financing options with a 0% APR. It offers POS loans ranging from one to 60 months with a limit of $25,000 per loan. Who's this for? Affirm is a good choice if you need a longer-term financing option with a 0% APR and no late fees. Investing +More All Investing Best IRA Accounts Best Roth IRA Accounts Best Investing Apps Best Free Stock Trading Platforms Best Robo-Advisors Index Funds Mutual Funds ETFs Bonds
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