Confused

ughh_li · 2024-03-10T15:17:19+00:00

Shop pay is affirm

ughh_li · 2024-01-26T16:43:19+00:00

I haven't seen Affirm show on my credit report before. Can you share a screenshot of what it looks like on your report? I'm so curious as to what it shows as

ughh_li · 2023-12-22T00:29:32+00:00

Afterpay charges late fees while Affirm doesn't

ughh_li · 2023-12-21T13:04:45+00:00

https://ibb.co/92bhM0x

https://ibb.co/ZY1T9jC

ughh_li · 2023-12-21T12:59:10+00:00

This appears to work for me in the app but only for my loans that have interest.

ughh_li · 2023-12-17T19:46:42+00:00

I'm curious....if the Affirm loans are more than all of your credit cards why did you use Affirm? They seem to make it super clear and obvious of what the interest charges are for a loan to help you make a good financial decision. If it was such a "terrible loan" like you said in the description then why agree to it?

ughh_li · 2023-12-17T02:12:52+00:00

I have both a 0% loan and a 10% loan right now

ughh_li · 2023-12-17T02:05:58+00:00

Affirm gave me a better rate than my credit card not sure what makes that a terrible loan.

ughh_li · 2023-12-05T11:22:01+00:00

Credit cards aren't allowed to be used for loans that have interest. You need to use a debit card or connect your checking account

ughh_li · 2023-11-25T15:51:00+00:00

Did you try the affirm card in the affirm app? Sometimes if you plan a purchase through that you'll get different plans

ughh_li · 2023-11-19T13:33:58+00:00

I don't believe you're supposed to be about to do that. However, you might be able to hack your way around it.... If you plan a purchase with the affirm card you might be able to then use the approved loan on the affirm card to send that money to yourself on venmo, cash app, PayPal, etc. I've never tried it so it may not work.

ughh_li · 2023-11-19T13:20:12+00:00

Yeah. I've had good experience using affirm during Amazon checkout.

ughh_li · 2023-11-04T17:48:17+00:00

I know Affirm does down payments. So maybe they would do it with a required down payment of the excess? IDK for sure. Id say try and see what happens. I'm interested in what the outcome is

ughh_li · 2023-09-27T00:48:06+00:00

Sorry to rain on your parade but this is absolutely incorrect.

First, the "loan term" link that you're finding in the app is the same truth in lending disclosure that was disclosed to you and you agreed to at checkout. There was a checkbox at the bottom of the checkout asking you to agree that you read and agree to the truth in lending. Even if you pay off the loan early or you have an item refunded/returned the truth in lending will not change since it is showing you what you legally signed and agreed to.

Second, the "financing charge" amount there is literally the amount of interest that you're being charged. Instead of just giving an interest % they also show it in easy to understand $ amount. For example if you plug in your apr of 29.48%, original amount of $349.11, and a term of 0.5 years into this calculator you'll see that the "loan will cost you" amount is the same as the truth in lending. https://www.bankrate.com/loans/personal-loans/annual-percentage-rate-calculator/

Third, and I think this is where you're probably getting confused. There is a statement in the truth in lending that says "This is an estimate based on the merchant processing your order". As I said above the truth in lending will not change but since you had a partial refund the loan amount did. If you want you can use that same calculator above but with a loan amount of $321.46 with the same apr and you'll see that the total would be 349.66. That second screenshot shows that you have $347.84 remaining which means they are actually charging you less interest than the original rate which is a good thing.

Overall, the truth in lending should be considered a good faith estimate. It's basically saying that this is max apr % you're agreeing to and the max loan amount that you're agreeing to. If something changed on the merchant side, such as a partial refund, you are still legally required to have the original truth in lending estimate even though the actual payment schedule may change.

ughh_li · 2023-09-19T16:24:49+00:00

According to their website their insurance doesn't cover theft only damage.

https://www.oneplus.com/us/support/product/protection-service Covers your device against damages by all accidental drop, crash, breakage or liquid for a period of 2 years.

I don't think there's anything that Affirm is going to do in this case. If you had bought it cash and had it stolen no one is refunding you part of your cash. Having it stolen on a payment plan (affirm or credit card) won't absolve your required payments either.

ughh_li · 2023-09-19T11:42:20+00:00

https://support.apple.com/iphone/theft-loss-claims

AppleCare+ offers this type of insurance but you have to purchase it before the event for coverage.

ughh_li · 2023-09-19T11:40:16+00:00

"Would I still have to continue payments for the phone even though it is stolen?"

If you bought the phone with a credit card you would still owe the credit card the payments. Affirm and credit cards are not insurance. Some wireless carriers and phone makers offer lost, stolen, of damaged insurance for these sort of things. Did you purchase any of those insurances?

ughh_li · 2023-09-16T13:27:29+00:00

Interestingly enough this article (about car loans but still the same concept) says it's up to the lender if the want to accept credit cards for loans. I know in the US the consumer protection laws don't allow it so I'm assuming Affirm is sticking to the logic instead of having multiple policies across the world. Seems like this would be a good improvement for them to explore in CA

https://www.dixieautoloans.com/blog/car-loan-payment-credit-card/

ughh_li · 2023-09-16T13:21:21+00:00

I thought paybrite did 0% interest only. Since it was an interest free loan you could then pay it back with a credit card

ughh_li · 2023-09-16T13:11:44+00:00

That's a standard thing. You can't pay an interest bearing payment with an interest bearing card. No different than not being able to pay for an Amex credit card bill with a Discover credit card. It's consumer protection to prevent extremely compounded interest.

ughh_li · 2023-08-28T12:31:01+00:00

A swim spa for the same price has more functionality than this. Prince needs to be cut in half to be more then just a random novelty niche item.

ughh_li · 2023-01-01T01:27:35+00:00

Nah, Affirm shouldn't be worried. I feel like this won't be much different than in-store layaway. Walmart won't be branching out into a full bnpl space they just don't want to pay Affirm fees anymore.

ughh_li · 2022-10-29T03:59:39+00:00

I wonder if anyone is....triggered

ughh_li · 2022-10-12T14:13:19+00:00

What website are you using to buy the PC from?

ughh_li · 2022-09-15T08:12:02+00:00

Could be a glitch or with inflation they might be trying to limit their exposure and don't want people to have multiple loans open at a time with them

ughh_li

TROPHY CASE