Affirm Personal Loans Review

Affirm was founded in 2012 with the goal of helping consumers afford big purchases at select retail stores. While you can apply for a personal loan with Affirm through their mobile app, you may also see this option advertised by retailers who want to offer on-the-spot financing for services or products they offer.

Should you borrow money with Affirm? Maybe and maybe not, but you should find out all the details before you decide.

Check Your Personal Loan Rates

Answer a few questions to see which personal loans you pre-qualify for. It’s quick and easy, and it will not impact your credit score.

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In this article

    Affirm Personal Loans: Key Takeaways

    • Borrow up to up to $17,500.
    • Repay your loan over 3, 6, or 12 months. Some stores may let you finance purchases for up to 36 months.
    • Get “pre-qualified” for a loan without impacting your credit score.
    • Participating stores offer 0% APR on select purchases for a limited time. Otherwise, APRs range between 10% and 30%.
    • No hidden fees.
    • No minimum credit score or income amount listed.

    Affirm Personal Loans Review: Easy Loans for Big Purchases

    When you have a big upcoming expense but you’re short on cash to cover it, a personal loan can make sense. This type of loan comes with a fixed interest rate, fixed payment, and fixed repayment term. In other words, unliked charging a purchase to a credit card, a personal loan leaves you with a monthly payment that never changes and a fixed payoff date to keep track of, so you know exactly when you’ll be debt-free.

    Where some personal lenders focus on personal loans for debt consolidation or home improvement loans, Affirm takes a different approach. Their loan offers are mostly geared toward consumers preparing to make a big purchase, which is evidenced by the fact you can apply for a loan at retailers nationwide.

    Aside from the convenience factor, we like the fact that Affirm lets you borrow up to $17,500 if you qualify — and the fact that many retailers let you finance your purchases with 0% APR for a limited time.

    We also like the fact that Affirm loans don’t charge any fees. After all, the top lenders in the personal loan space tend not to charge origination fees or any hidden fees.

    Affirm personal loans are also easy to apply for. You can fill out an application with a participating retailer at the time of purchase and get an instant decision, but you can also apply for their loans with their mobile app or website.

    Affirm Personal Loans: What to Watch Out For

    The biggest problem with Affirm loans is that they may get you to make big purchases you wouldn’t make otherwise. All it takes is one glance at their list of participating retailers to see what we mean. For example, you can get an Affirm loan with retailers like Cole Haan or with They’re basically tempting you to finance a new purse or a vacation to the Bahamas with these offers, instead of saving up for the splurge.

    Besides that, Affirm doesn’t let you borrow very much. Their loans top out of $17,500, which isn’t even close to the $35,000 or more many top lenders let you borrow.

    Finally, you can apply for a personal loan from Affirm yourself through their website or app, but you won’t get a check in the mail. Instead, you’ll get a one-time use credit card you can utilize for your planned purchase. For that reason, Affirm loans don’t make sense if you plan to use your loan proceeds to consolidate debt.

    Who Affirm Personal Loans are Good For:

    • Consumers who need to borrow up to $17,500 for a big purchase and pay it off over a short amount of time.
    • People who want to borrow money with no fees.
    • Anyone who plans to finance a purchase at a store that offers 0% APR loans with Affirm.

    Check Your Personal Loan Rates

    Answer a few questions to see which personal loans you pre-qualify for. It’s quick and easy, and it will not impact your credit score.

    Get Started

    with our trusted partners at

    How to Apply for a Loan through Affirm

    How you’ll apply for a loan through Affirm depends on whether you’re using it in a store or not. Here are the two ways to sign up:

    • Select Affirm loans at the checkout when you shop at participating stores. You’ll need to provide information such as your name, address, Social Security number, income, and employment status to see if you can qualify. Remember that you can also get pre-qualified without a hard inquiry on your credit report.
    • Apply for a loan through the Affirm app or website. You’ll provide the same information if you apply outside a store. Keep in mind, however, that you won’t receive a check in the mail if you’re approved through their website or mobile app. Instead, you’ll receive a credit card loaded with your loan funds.



    The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.

    For every review, our editorial team:

    • Identifies five measurable aspects to compare across each brand
    • Determines the rating criteria for each aspect score
    • Averages the five aspect scores to produce a single SimpleScore

    Here’s a breakdown of the five aspect scores and their rating criteria for our review of the best personal loans of 2020.

    Why do some brands have different SimpleScores on different pages?

    To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

    However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare NetCredit’s personal loans according to our criteria for the best personal loans, it scores a 2.3 out of 5. But when we compare NetCredit according to the criteria for the best bad credit personal loans, it scores considerably higher, since the criteria for the latter review are more lenient (lenders who serve borrowers with bad credit will always offer higher rates, so we needed to adjust our category methodology to account for different industry standards).

    Questions about our methodology?

    Email Hayley Armstrong at


    We looked at the maximum APR for each lender — the lower their maximum rate, the higher their score.

    Loan Size

    We awarded higher scores to lenders with more generous loan sizes.

    Customer Satisfaction

    We leveraged the J.D. Power 2019 Personal Loan Satisfaction Study℠ to see how customers rated their experience with each lender. (If a lender wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)


    We awarded higher scores to lenders with the most channels for customer support.


    We looked at the three most common fees — origination, late payment, and pre-payment — and penalized lenders for each fee charged.

    Holly Johnson

    Contributing Writer

    Holly Johnson is a frugality expert and award-winning writer who is obsessed with personal finance and getting the most out of life. A lifelong resident of Indiana, she enjoys gardening, reading, and traveling the world with her husband and two children. In addition to The Simple Dollar, Holly writes for well-known publications such as U.S. News & World Report Travel, PolicyGenius, Travel Pulse, and Frugal Travel Guy. Holly also owns Club Thrifty.

    Reviewed by

    • Courtney Mihocik
      Courtney Mihocik

      Courtney Mihocik is an editor at The Simple Dollar who specializes in insurance, personal finance, and loans. Previously, she wrote and edited for,, Ballantyne Magazine, Thread Magazine, The Post, ACRN, The New Political, Columbus Alive and the Institute for International Journalism.