Affirm
Deliver honest financial products to improve lives
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Max Levchin

Affirm - The future of credit, now on your homescreen.

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Affirm
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With Affirm, you can split almost any online purchase into easy monthly payments. Unlike a credit card, there are no hidden fees and no surprises. Just enter a few pieces of information for a real-time decision, then choose the payment schedule that works for you!

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Max Levchin
Maker
In 2016, credit card issuers in the United States raked in $94.3 billion in fees and $70.4 billion in interest income. The average credit card has 6 fees, with some having as many as 12! Credit is broken and the incentives for banks that issue it are built on business models that profit from hurting consumers and betting on their failure. The future of credit is here and it is not a piece of plastic, it is an app. The Affirm app will serve as a platform for us to deliver even more products that improves lives.
Erick Barron
Does this product work only for US citizens and permanent residents?
Max Levchin
Maker
@erickbarron86 U.S. only (for now)
Erick Barron
@mlevchin yes, but I meant if it's restricted to citizens or any USA resident with a SSN can apply?
Rebecca Garcia

I have been using Affirm for large purchases $500+ from tech/e-commerce companies like Leesa (mattress), Casper (mattress) and Peloton (indoor cycling bike) with no interest and it's been awesome!

Pros:

Easy to use, affordable microloans for purchases

Cons:

Wish it was accepted in more places!

niki
Hi Rebecca! With your app you can actually use Affirm at almost merchant online. We'd love for you to try it out and let us know what you think!
Tony Brix
$205.11 on a $96 loan!!! That's about 450% APR
Tony Brix
I think that is supposed to be a $196 loan @mlevchin i think the math is still a little off
niki
@tonybrix yes this was just bad math in the screen shot :( updated now!
Ishtiaq Rahman
How is the credit rating system on Affirm different from what Banks currently use? Looks like a great product.
Max Levchin
Maker
@buildanything Banks rely on FICO. We built our own underwriting and anti-fraud system that approves up to 126% more creditworthy borrowers than industry averages.
Maribeth
@buildanything @mlevchin If you can share, I'm very curious how you approached the design of your system to ensure it doesn't include discriminatory or otherwise "unfair" factors that could have unintended consequences? And how transparent is it to users why they got the rate they did (or no loan at all)?
Matteo Fabbri

If you don't have an US phone number you can not sign up

Pros:

Don't know i can not even try it

Cons:

Only for american market

Taylor Banks
Tried to submit my info via the "business" page, and got a "method not supported" error. Looks like form submission is currently broken?
Asi Behar
Hey @taylor_banks - I've been trying to duplicate that issue with no luck. Can you try filling out that form one more time to rule out a temporary provider hiccup? If it's still not working for you, can you shoot me a note at asi.behar@affirm.com to troubleshoot?
Taylor Banks
@affirm @asibehar1 same error... sent email.
Niv Dror
Affirm is now available on iOS and Android! Love the reactions so far on twitter + Max's tweet introducing it. "This is amazing" https://twitter.com/stevegraham/... "Affirm reinvents credit for the next era. More than an app, a new way to think about credit." https://twitter.com/BrianRoemmel... "This is beautiful" https://twitter.com/ThibeauB12/s...
Andrey Marin

Looks will be great.

Pros:

Clean and fluid design.

Cons:

I can't test, it's for american market.

niki
Hi Andrey - yes unfortunately only U.S. for now, but not for long :)
Bart Lewis Jr.

I used this to buy a computer from System 76. They have been really easy to work with. I setup auto pay to my debit card, they always send a warning and they payment just comes out. No worries. Love it. Will use again.

Pros:

Easy credit on fixed terms

Cons:

Interest rates can be a bit high

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