What Credit Score Is Needed to Use Affirm?
Understand how Affirm evaluates eligibility, going beyond a single credit score. Learn its impact on your financial standing and how to apply.
Affirm has become a “Buy Now, Pay Later” (BNPL) service, enabling consumers to finance purchases over time through installment payments. This payment method has gained traction for its flexibility, allowing individuals to manage their budgets while acquiring goods or services. Many people seek to understand the credit score requirements for using Affirm, which differs from conventional lending practices. Affirm does not publicly disclose a specific minimum credit score for approval, setting it apart from traditional lenders. Instead, it uses a comprehensive assessment process to determine eligibility.
Affirm’s Eligibility Assessment
Affirm evaluates each application using a dynamic, holistic approach, rather than relying on a single, fixed credit score. When an individual applies for financing, Affirm performs a “soft credit check.” This inquiry allows Affirm to review a credit profile without negatively impacting the applicant’s credit score.
The eligibility decision incorporates several factors beyond a credit score. Affirm considers an applicant’s credit history, understanding that even those with limited or fair credit may still be approved. A positive credit history, characterized by timely payments and responsible credit utilization, improves approval chances. Affirm also assesses an applicant’s ability to repay the loan by considering income and existing debt obligations.
An applicant’s history with Affirm is also considered, such as whether previous loans were paid off successfully or if there are too many active loans. The specific purchase amount being financed also plays a role, as smaller loan requests may have a higher likelihood of approval. The relationship with the merchant can sometimes influence approval criteria. Approval is not guaranteed for every purchase, even for the same individual, as Affirm’s algorithms continuously adapt their assessment criteria.
Affirm and Your Credit Profile
Understanding how Affirm interacts with a credit profile is important for consumers. The initial eligibility check involves a soft credit inquiry, which does not appear to other lenders or affect one’s credit score. This allows individuals to check their purchasing power without concern for a negative impact.
Affirm may report payment history to major credit bureaus, including Experian, Equifax, and TransUnion. Beginning April 1, 2025, Affirm started reporting all payment plans and associated repayment activity to Experian, with reporting to TransUnion commencing on May 1, 2025. This includes both longer-term installment loans and the shorter “Pay in 4” plans. The information reported includes the account opening, the loan amount, and payment status.
On-time payments can positively influence a credit score by building a positive payment history and diversifying a credit mix. This demonstrates responsible financial behavior to other potential lenders. Conversely, late or missed payments, defaults, or accounts sent to collections can negatively affect credit scores, similar to traditional loans. A payment over 30 days late can reduce a credit score by 50-100 points. The addition of a new loan can also impact a credit utilization ratio, which is the amount of credit used compared to the total available credit.
Understanding Affirm’s Application Steps
Applying for Affirm financing is a streamlined process, integrated into the checkout experience when making a purchase. Consumers can initiate an application by selecting Affirm as a payment option on merchant websites or within the Affirm mobile application. This option appears at the point of sale.
The application requires basic personal information to verify identity and assess eligibility. Applicants provide their full name, mobile phone number, email address, date of birth, and the last four digits of their Social Security number. This information helps Affirm determine if an applicant qualifies for financing. An instant decision is provided within seconds of submitting the required details.
If approved, the applicant will be presented with one or more loan offers, outlining different payment terms and interest rates. These terms can vary, ranging from interest-free “Pay in 4” options to monthly installments over several months, with Annual Percentage Rates (APRs) from 0% to 36%. Repayment terms can extend up to 60 months, and loan amounts can range from $50 up to $25,000, depending on the merchant and individual eligibility. A down payment may be required at checkout for some purchases or if the applicant does not qualify for the full loan amount.
After reviewing the available loan offers, the consumer selects the preferred option and confirms the purchase. Payments are then managed through the Affirm app or website, with options for manual payments or auto-pay setups. Affirm also sends email and SMS reminders before upcoming payment due dates.