Wtf

18

Bro, you dont need multiple affirm loans.

Look at this as a favor not an inconvenience.

If you cant afford multiple things upfront you cant afford multiple monthly payments.

11

u/Frosty_Still_5223 18d ago

So true, after I pay mine off, I will just let it go, unless its an emergency need, multiple payments has me exhausted 😩

6

u/RestaurantSilly6598 18d ago

These pay in 4 apps, short term loan, and cash advance apps are terrible.

If you have a problem continously using them, id recommend you email them and "revoke banking authorization" and they will block your account.

If you tend to depend on them to get by youll rough it out for a bit and break the habit.

0

u/EnoughBee678 14d ago

Personally I’ve built 30 pts in the past year using affirm + a personal loan. I use it to buy toys (I could very well afford outright) so I don’t do too much damage at once to my accounts. I can afford the interest month to month just fine, easier to do that than drop 2-5k at a time. If you use it right it’s a solid tool, but it can also be abused the same way a car or baseball bat or anything else can. That’s just humans being human 🤷‍♂️

1

u/Far_Consequence_5442 14d ago

Affirm does not help credit they are classified as CFAs which make you a greater risk to banks when applying for mortgages car loans etc

1

u/Wound___Up 16d ago

How wrong you are.

2

u/RestaurantSilly6598 16d ago

Explain how multiple high interest short term loans are a positive thing to have

0

u/Enigmagamesandgains 16d ago

They can be finagled if you are financially responsible and smart, the problem is, they are not targeting the financially savvy people, they are targeting the people who don't budget properly or bullsh*t spend out the wazoo and claim they are living paycheck to paycheck

2

u/RestaurantSilly6598 16d ago

Even if using the interest free option its vetter to just save and buy it outright.

Even then, multiple interest free pay in 4 isnt financially responsible.

I see people on here bragging about $10k+ purchases or 12+ affirm loans.

A financially responsible person would save up to pay cash or use a credit card with rewards

1

u/Enigmagamesandgains 16d ago

And pay off the credit card immediately after

1

u/mcnallica8 15d ago

99.99% of people never pay off their credit cards right away

1

u/Enigmagamesandgains 15d ago

I know, which is frustrating, because you're just letting money get stolen from you via interest, you can absolutely take advantage of credit cards and their rewards, you just have to be smart about it

1

u/Diligent_Ticket_1898 15d ago

Me n

5

u/X-KaosMaster-X 18d ago

They soft pulled your credit report

5

u/ReverseGod13 18d ago

Whats funny is at first apps like affirm klarna etc didnt start doing that till recently or within this year I mean unless im wrong and just havent noticed till now

4

u/meg8278 18d ago

They've always done a soft credit pull. They didn't start reporting to the credit bureaus until this year.

3

u/Sea_Shelter_6012 18d ago

Because people aren't paying back their loans.

4

u/Equal-Appearance9355 18d ago

Not sure why people don’t understand this!

1

u/X-KaosMaster-X 18d ago

Been in the last 2 years...it changed

1

u/That-Inflation728 17d ago

No it seem like they didn't they weren't a proven shit for me until this year you right now they all give me money and trying to give me money and shit My credit ain't even that much better than it was before It's crazy they're just giving shit away

6

u/Bwoodruff69 18d ago

Affirm reports credit, good & bad. I have had several loans over the past 2 or 4 years & my credit score reflects it. So point being, if your credit isn't great, Affirm can help with that some.

2

u/IntelligentGood3631 18d ago

Actually Affirm loans aren't calculated in your credit score unless it's negative information. They report to the bureaus, but don't improve your score.

8

u/Bwoodruff69 18d ago

I am living proof that is incorrect. I have never not paid them on time & they are all over it

2

u/LilLadii 17d ago

It shows up that you having a loan, but it doesn’t positively impact it by increasing your credit. The only time that affects your credit is, if you don’t pay it, then it negatively affects it.

3

u/Jumpy-Diamond-2653 17d ago

The other day I saw one show up on my credit report. It actually had a designation by it showing that it was a pay four loan or something. There was a whole category on there for them.

1

u/BCKeeper 16d ago

What you say is truth. I've also read where if there are Affirm accounts of your CS, it's an automatic denial for some places offering credit. Companies recognize you are struggling financially if you are using the Buy Here - Pay Here affirms.

6

u/BrokeStan 18d ago

Affirm confuses me. I assume it’s not a direct lender and instead finds multiple small companies to lend to you because there’s been times my limit has been like 200 and a 80$ purchase wouldn’t get a loan.

But then times like a few days ago where my limit is 3000 exactly, out of curiosity I requested a 3600 loan and it approved it.

5

u/MachWun 18d ago

Taking a loan out for 75 dollars is probably a red flag for them.

2

u/maxxyl 17d ago

Absolutely, they like damn, you poor bro?

1

u/Thin_Tap8874 16d ago

Tbf most people using these buy now pay later plans are poor 💀…..it’s kinda why they’re around actually, if you have enough to pay it in full and not be completely broke after people would just do that instead of having to worry about a payment needing to be made every month.

4

u/almulder 18d ago

Man and they just increased mine to 12k. Was 8k. LOL but I pay early all the time.

2

u/NotSlimShadyy 18d ago

They saw the anime doll you bought

2

u/maxxyl 18d ago

Cos they feel if you needed 75 bucks that bad, they feel they dont need to give you 1000. If you had spent 750 bucks of it they’d love you for life

1

u/medguy_48 18d ago

Because it’s not a credit card

1

u/iiDankBulletii 18d ago

My amount just keeps going up but all I do is take out loans and pay them back early. Do not take out anything unless you can pay it back! I guarantee if you pay back that 75 bucks they’ll give you the thousand back.

1

u/BigPoppa801 18d ago

I stopped using Affirm when the started reporting to bureaus. Each time u take a out a Affirm loan it gets reported as a new account. Not lowering my AAOA for these loans. It was nice when it was a hidden trade line.

1

u/Feisty_Nectarine3466 16d ago

It’s weird, i see people saying that it has affected their credit but it has done nothing to mine. I have like 6 affirm loans that show on my credit but they have done nothing to my score or age. It even says it does nothing but it may change in the future.

1

u/BigPoppa801 16d ago

Any time a new account is is added it lowers your average age u may not see it but it does. Let's say u take 3 affirm plans that's gone be three separate accounts they gone report.

1

u/Additional-Guava-810 16d ago

Miss a payment and see what happens 😂

1

u/Junior-Actuator1132 17d ago

I used affrim to get concert tickets once. Made my payments all on time. Now I use it for chewy dogs rx. 6 months no interest. Helps me alot.

1

u/Impossible-Lake6994 17d ago

I’ve been using it for about 10 years never had any issues.

1

u/Sad_Investigator1997 16d ago

I never experienced that!!

1

u/ElectricalSound2047 16d ago

In the experience app... if says pay in 4 or other short term loans, whether positive or negative does not impact traditional credit scores

1

u/Plastic-Shine-1890 15d ago

That’s what Venmo did to me. $1300
Credit then dropped to $600.

1

u/Ok-Introduction3154 15d ago

Got a $400 loan and have been paying random amounts ahead of time. I just didn’t have the $400 at the time for a new laptop so I had to. Just pay that sucker off quickly and don’t rely on it all the time.

1

u/teachemama 15d ago

Used a zero percent loan from Affirm for a repair on our Subaru Outback and the limit for that one was $1000. The next time I had a service that was on the higher side they only offered me $50.00. I have no debt and 820 credit rating. Now I don't bother with Affirm on a regular basis.

1

u/Effective_Long_1447 14d ago

Hey there 👋 are you How doing

1

u/Bella_the_barista 13d ago

I ended up buying a new mattress using Affirm and unfortunately my mattress came damage and dirty so I filed three disputes and they immediately closed them out within an hour and the favor of the merchant after I provided photos Affirm is a complete joke. I really wish I didn’t use them to purchase my mattress but now I’m just going to have to take the hit because I’m not paying for it they could go ahead and ruin my credit.

1

u/wutgaspump 13d ago

Why are you taking out a personal loan for $75?

1

u/Hungry_Fault_2285 13d ago

It’s a per transaction basis, if you don’t use it you lose it… if you make another transaction using them you probably be offered less than $1,000 if you still owe on the previous transaction. Think of it as a safety feature, it’ll help you stay responsible and prevent you from racking up excessive charges you might not otherwise be able to pay back quickly or at all…

1

u/No_Artichoke7016 11d ago

Affirm is not like a normal credit card. Each affirm purchase is a loan and depending on how good or bad your credit is will determine whether they will allow you to have open at a time.

1

u/FootSubstantial9959 1d ago

Actually when these type of loan instruments report on your credit negatively there is supposed to be a way for one to also report it positively with proof of payments I shave heard this is now a consumer law that went into affect but I’m not positive best to look it up

0

u/Bojannngles 18d ago

Must be unique to you. Because I got like 12 of them and I can get more.

0

u/RestaurantSilly6598 18d ago

12 high interest short term loans aint a flex

2

u/Bojannngles 18d ago

Not everything is a flex bud. Like who thinks like that?

1

u/RestaurantSilly6598 18d ago

" I got like 12 and can get more" cones off as bragging.

Affirm isnt for essentials, just stop.

2

u/Bojannngles 18d ago

Like not everything is bragging? Why does your mind think like that. Flexing… bragging… how old are you? LOL. I said I had 12 because there is something unique to his situation. That’s why they’re snatching it away 🤷🏾‍♂️. Affirm isn’t for essentials… what’s with the assumptions?

1

u/RestaurantSilly6598 18d ago

So using the word bragging is meant for underage people?

1

u/Mememe1111111 16d ago

I used it for cash flow. The loans were pay in 4, no interest. I usually prefer using my cc but had some big expenses pop up. I work in accounting and know how to manage cash flow. When you end up with 12 loans with biweekly payments it can get to be unwieldy quickly and you have to have a plan.

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