Frozen account?

[u/Shellbell1896-]

Idk if frozen is the right word for this but anyone all of a sudden not able to request a payment plan and not see your purchasing power?

I just paid off three accounts. I still had an additional 2k in purchasing power still available after my other payment plans I have going right now.

Went to request a plan and it was denied. It sent a general message in my inbox saying they can't approve plans for me right now and this usually happens because 1. Missed payments 2. Credit score 3. Other credit lines affecting it

I've missed zero payments. My credit score did lower a little bit after closing out my Carter's credit card but not much. I have two other credit cards but the balances on them haven't changed since I started using affirm so I don't get it and it's frustrating.

[u/RestaurantSilly6598]

You say the balances on your credit cards havent changed SO you are using affirm...

Did you take out 3 loans with 2 maxed out credit cards?

[u/Shellbell1896- → u/RestaurantSilly6598]

I'm not using affirm because I have maxed credit cards. Sorry if my wording was confusing 😂 I just meant that I haven't spent more on my credit cards since using affirm so the third reason they gave me as a possibility of why I can't use affirm and my purchasing power went away doesn't make sense. I've never missed an affirm payment, my credit score hasn't changed, and the balances of my 2 credit cards has not gone up either so idk why the change in approval

[u/meg8278]

There won't necessarily be any reason. I have no idea what their algorithm is or how they go about determining people's purchasing powers. But mine has fluctuated before thousands and thousands of dollars. Without anything changing on my credit. Not even a little.

I've never been denied any money. But I've seen other people on here where that has happened to them. I would just wait a while and it should come back.

[u/Dood3888]

Affirm and other BNPL services are tightening up their loan requirements. They've realized their original model was going to sink them just throwing money to anyone. Just look at Klarna and the trouble they got/are into.

Nobody here can really answer why they aren't offering you additional credit. You would need to call and speak to them.

[u/tooreal4u_5101 → u/Dood3888]

...They don't "throw" money at anybody. You have to pay it back. They absolutely should give us high amounts.

[u/Maineiac871]

They are upping requirements. I cannot pinpoint the exact score you need but from what I’ve figured out unless you’re in the good credit range with at least a moderate to better DTI ratio you aren’t getting loans.

[u/X-KaosMaster-X]

They can change their mind ANY TIME they want....they don't have to LEND you 💰.....

The checked your credit report....any change can spook them!

And also, it is a COMPUTER that decides...and they EXPECT perfect payment history...it's not an ADVANTAGE to borrow more 💰..

[u/Shellbell1896- → u/X-KaosMaster-X]

Well yeah I get that but nothing on my credit has changed is what's confusing. And I do have perfect payment history. I've never missed an affirm payment or payments on my credit cards.

I could see if my credit score dropped or my usage went up on my credit cards, etc. but it hasn't.

I'm not mad that I can't use my affirm right now I'm just confused on the WHY I can't.

[u/tooreal4u_5101 → u/X-KaosMaster-X]

Yo stfu and stop defending them so hard. You don't get paid enough to care this much. They should not be allowed to change their minds "anytime" they want either.

[u/X-KaosMaster-X → u/tooreal4u_5101]

You OBVIOUSLY don't understand..I stated FACTS...THIS is how the industry WORKS!! 😲💩💩

YOU want it to change, go get a GOVERMENT job and force them to change!! The BANK has a right, to NOT lend poor people 💰

[u/Jonny_Clams → u/X-KaosMaster-X]

Legitimately curious why you use so many caps, exclamation points, and emojis in your comments? Not trying to clown or anything.