What is "AFFIRM*" on my bank statement?
AFFIRM* is usually a legitimate Affirm payment for a Buy Now, Pay Later installment loan.
Merchant: Affirm | Category: Buy Now Pay Later
What Is This Charge?
A charge from Affirm reflects an installment payment on a loan or buy now, pay later purchase made through Affirm's financing platform. Affirm offers point-of-sale financing at thousands of online retailers, allowing you to split purchases into monthly payments over 3 to 60 months. Unlike some competitors, Affirm may charge interest (0-36% APR) depending on the merchant and your creditworthiness. Affirm also offers Pay in 4 (interest-free biweekly payments) for smaller purchases.
Why Does This Charge Appear on My Statement?
Affirm charges appear on your statement when a scheduled monthly or biweekly payment is debited from your linked bank account or card. When you finance a purchase through Affirm at checkout, Affirm pays the merchant in full and you repay Affirm over time. Payments are automatically charged on the scheduled date. If you set up a one-time payment or made a partial payment, that will also appear as an Affirm charge.
Typical Charge Amounts
Affirm monthly payments vary widely based on the purchase amount, loan term, and interest rate. Typical monthly payments range from $20 to $200+. Affirm's Pay in 4 splits purchases into 4 equal biweekly payments with no interest. Affirm loans can be 0% APR for select merchants or up to 36% APR for others. There are no late fees, but missed payments can affect your credit.
Common Variations
Charges may appear as AFFIRM, AFFIRM INC, AFFIRM PAYMENT, or AFFIRM followed by a loan ID. Payments made via bank transfer (ACH) show differently than credit/debit card payments. Some statements show AFFIRM.COM.
Is This Charge Legitimate?
Log into affirm.com or the Affirm app to view your active loans, payment schedules, and payment history. Each loan shows the original merchant, purchase amount, interest rate, payment schedule, and remaining balance. Match the charge on your bank statement to a scheduled payment date and amount. Affirm sends email and push notification reminders before each payment.
How to Dispute or Cancel
You cannot cancel an Affirm loan once the merchant has shipped your order. If you return the item, the retailer issues a refund to Affirm, which reduces or eliminates your remaining balance. For disputes about the product, contact the retailer first. For billing issues, contact Affirm at help.affirm.com or call 1-855-423-3476. Affirm does not charge late fees, but missed payments are reported to credit bureaus and will affect your credit score.
Frequently Asked Questions
Does Affirm charge interest?
It depends on the merchant and your credit profile. Many merchants offer 0% APR financing through Affirm as a promotional incentive. Other purchases may carry interest rates from 0% to 36% APR. The interest rate is disclosed before you confirm the purchase at checkout. Pay in 4 (4 biweekly payments) is always 0% interest. Check your Affirm app to see the APR on each of your loans.
Does Affirm affect my credit score?
Yes. Affirm performs a soft credit check when you check eligibility (which doesn't affect your score), but may perform a hard inquiry when you finalize certain loans. Affirm reports payment history to Experian and TransUnion. On-time payments can help build credit, while missed payments will negatively impact your score. Pay in 4 transactions are generally not reported to credit bureaus.
What happens if I miss an Affirm payment?
Affirm does not charge late fees — this is a key differentiator from other BNPL services. However, missed payments are reported to credit bureaus and will negatively affect your credit score. Affirm will attempt to retry the payment and will send reminders. If you're having trouble making payments, contact Affirm to discuss options before the payment date.
Can I pay off my Affirm loan early?
Yes. You can pay off any Affirm loan early with no prepayment penalties. Open the Affirm app, select the loan, and choose 'Make a payment' or 'Pay off loan.' If your loan has interest, paying early saves you money because interest stops accruing on the paid balance. The remaining scheduled payments will be canceled once the loan is paid in full.
I returned an item but Affirm is still charging me — what do I do?
Contact the retailer to confirm they processed the return and issued a refund to Affirm. Retailer refunds can take 3-10 business days to reach Affirm. Once Affirm receives the refund, they adjust your loan balance accordingly. If the refund doesn't appear within 14 days, contact Affirm support with your return confirmation from the retailer. In the meantime, continue making scheduled payments to avoid credit reporting issues.
Similar Charges
- AFFIRM PAYMENT
- AFFIRM INC
- AFFIRM.COM
- AFFIRM*PAYMENT
- AFFIRM LOAN PMT