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Plain-English summary
Affirm reserves the right to close or limit your account if they cannot verify your identity or if you withdraw consent for electronic communications (risk_flags-1, risk_flags-3). Failure to pay may negatively impact your credit score (risk_flags-2). You also agree to indemnify Affirm from liability arising from third-party actions or inactions when you grant them permissions (risk_flags-4). The company may use information gathered through financial tools for marketing their own and third-party products (data_use-1), and by linking your bank account, you authorize Affirm and third parties to access your financial information, with no stated liability for damages from these third parties or inaccurate information (data_use-2, data_use-3). Phone conversations may be monitored or recorded (data_use-5). You accept any changes to the agreement by continuing to use the service (gotchas-1). For items with extended ship dates, loan payments, including interest, may be due before you receive the items, and any accrued interest may not be rebated if the amount is later refunded (gotchas-2, gotchas-3). Financial management tools may be modified or removed without notice, potentially leading to a loss of access to your data, and Affirm is not liable for issues related to these tools (gotchas-4, gotchas-5).
89% confidence
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Risk Flags
Critical issues that may result in significant harm to the user.
high95% confidence
Account closure or limitation for verification issues
Affirm reserves the right to close, suspend, or limit access to your account and/or the Services if they cannot obtain or verify your information.
Why it matters: Your account may be closed, suspended, or its access limited if Affirm is unable to verify your identity or other required information.
Affirm reserves the right to close, suspend, or limit access to your account and/or the Services in the event we are unable to obtain or verify this information.
HOW AFFIRM WILL SERVE YOU, paragraph 19 · Citation strength: strong
high95% confidence
Credit score may be affected by failure to pay
Failure to pay an amount owed may affect your credit score.
Why it matters: If you fail to pay amounts owed, Affirm may take collection efforts that could negatively impact your credit score.
FAILURE TO PAY MAY AFFECT YOUR CREDIT SCORE.
HOW AFFIRM WILL SERVE YOU, paragraph 31 · Citation strength: strong
high95% confidence
Loss of access if consent to electronic communications is withdrawn
Affirm reserves the right to close or limit access to your account or a Service and immediately collect all due amounts if you withdraw your consent to receive electronic or other communications.
Why it matters: Withdrawing consent to receive electronic communications may lead to the closure or limited access of your account or service, and all due amounts may be immediately collected.
Affirm reserves the right to close or limit access to your account or a Service and immediately collect all due amounts if you withdraw your consent to receive electronic or other communications or if you revoke access to any third party site on which the Affirm Service relies or if any such service should revoke or cancel your account on that site.
HOW AFFIRM WILL SERVE YOU, paragraph 32 · Citation strength: strong
high95% confidence
Liability for third-party actions/inactions
You acknowledge and agree that you will not hold Affirm responsible for, and will indemnify Affirm from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant.
Why it matters: You agree to indemnify Affirm from liability arising from third-party actions or inactions when you grant permissions to a third party to act on your behalf or access your account information.
Further, you acknowledge and agree that you will not hold Affirm responsible for, and will indemnify Affirm from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant.
HOW AFFIRM WILL SERVE YOU, paragraph 40 · Citation strength: strong
Data Use
How your data is collected, processed, and shared.
medium90% confidence
Marketing using information from financial tools
Affirm may use information gathered through financial tools to market other products and/or services to you, including those of third parties.
Why it matters: Information you provide while using financial tools may be used by Affirm to market its own and third-party products and services to you.
You agree that we may use information we gather through the tools to market other products and/or services to you, including those of third parties.
HOW AFFIRM WILL SERVE YOU, paragraph 15 · Citation strength: strong
medium90% confidence
Authorization for third-party providers to access financial accounts
By linking your bank account to a tool or Service, you authorize Affirm and their third-party providers to access your financial accounts on your behalf, and to gather information about you.
Why it matters: Linking your bank account to a tool or service gives Affirm and its third-party providers authorization to access your financial accounts and collect your information.
By linking your bank account to a tool or Service, you authorize us and our third party providers to access your financial accounts on your behalf, and to gather information about you.
HOW AFFIRM WILL SERVE YOU, paragraph 16 · Citation strength: strong
medium90% confidence
No liability for third-party actions or inaccurate information
Affirm has no liability for any damages you may suffer as a result of any third party's actions or inactions or from inaccurate account information provided by these third parties.
Why it matters: You cannot hold Affirm responsible for damages resulting from the actions, inactions, or inaccurate information provided by third-party providers who access your financial data.
We have no liability to you for any damages you may suffer as a result of any such third party's actions or inactions or from inaccurate account information.
HOW AFFIRM WILL SERVE YOU, paragraph 16 · Citation strength: strong
medium90% confidence
Credit report authorization for marketing purposes
You expressly authorize Affirm and its Bank Partners to obtain consumer reports about you from time to time in connection with their marketing efforts.
Why it matters: Your credit reports may be accessed by Affirm and its Bank Partners for marketing purposes.
You expressly authorize Affirm and each of Affirm's Bank Partners to obtain (for itself or on behalf of Affirm or a Bank Partner) consumer reports from consumer reporting agencies about you (1) when you request offers or apply for a loan or Savings Account, (2) periodically throughout the term of your loan (including in the month following the month when you pay off or otherwise satisfy the loan) or Savings Account, (3) to determine eligibility for and establish your prequalification amount, if applicable, while you are logged into your Affirm account and/or the Affirm App, and (4) from time to time in connection with our marketing efforts or with any other services that we may offer or
HOW AFFIRM WILL SERVE YOU, paragraph 20 · Citation strength: strong
low95% confidence
Recording of telephone conversations
Affirm may monitor or record telephone conversations you or anyone acting on your behalf has with Affirm or its agents for quality control, training, or its own protection.
Why it matters: Your phone conversations with Affirm or its agents may be monitored or recorded for quality control, training, or company protection without further notice.
You understand and agree that Affirm may monitor or record telephone conversations you or anyone acting on your behalf has with Affirm or its agents for quality control and training purposes or for its own protection.
HOW AFFIRM WILL SERVE YOU, paragraph 38 · Citation strength: strong
Cancellation and Renewal
Terms related to ending your service or automatic continuation.
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Looking good
No billing surprises spotted
Verbaterm only flags concerns it can cite. No cancellation, auto-renewal, or refund terms needed attention here.
Gotchas
Potentially overlooked clauses that may be to your detriment.
medium95% confidence
Changes to agreement accepted by continued use
YOU AGREE TO ACCEPT ANY CHANGES TO THIS AGREEMENT BY USING THE AFFIRM SERVICES AFTER CHANGES HAVE BEEN POSTED.
Why it matters: Continuing to use Affirm Services after changes to the agreement have been posted signifies your acceptance of those changes.
Additionally, YOU AGREE TO ACCEPT ANY CHANGES TO THIS AGREEMENT BY USING THE AFFIRM SERVICES AFTER CHANGES HAVE BEEN POSTED.
AFFIRM Terms of Service, paragraph 4 · Citation strength: strong
medium95% confidence
Loan payments due before items ship with extended ship dates
If an item has an extended ship date, your loan payment(s), including interest, may be due before the merchant ships the item(s).
Why it matters: You may be required to start making loan payments, including interest, before you receive the items if they have an extended ship date.
If when buying with Affirm, one or more items in your order has an extended ship date, your loan payment(s), including interest, may be due before the merchant ships the item(s).
HOW AFFIRM WILL SERVE YOU, paragraph 7 · Citation strength: strong
medium90% confidence
No rebate of accrued interest on refunded amounts for extended ship dates
You may not receive a rebate of any interest that may have already accrued on an amount that later gets refunded.
Why it matters: Even if an amount is refunded, you might not get back any interest that accumulated on that amount if your loan payments were due before the items shipped.
Please note that you may not receive a rebate of any interest that may have already accrued on an amount that later gets refunded.
HOW AFFIRM WILL SERVE YOU, paragraph 7 · Citation strength: strong
medium90% confidence
Tools may be modified or removed without notice; loss of access to information
Affirm may modify the financial management tools or cease making them available at any time without notice. If a tool is modified or removed, you may lose access to any information you supplied using that tool and have no rights to obtain such information.
Why it matters: Financial management tools, and any information you've entered into them, may be removed or changed without notice, potentially leading to a loss of access to your supplied information.
You agree that we may modify the tools or cease making them available to you at any time without notice. We have no obligation to continue to make any particular tool available to you or to do so without charge. If we modify a tool or cease to make a tool available to you, you understand that you may lose access to any information that you may have supplied in connection with your use of the tool and have no rights to obtain such information from us.
HOW AFFIRM WILL SERVE YOU, paragraph 15 · Citation strength: strong
medium90% confidence
No liability for tool unavailability or malfunction
Affirm has no liability if a tool is unavailable, not properly functioning, or in connection with the tools generally.
Why it matters: Affirm is not liable if the financial management tools they offer are unavailable, don't work correctly, or for any issues related to the tools.
There may be times when a tool we offer is unavailable or not properly functioning, and you agree that we have no liability to you if this occurs or in connection with the tools generally.
HOW AFFIRM WILL SERVE YOU, paragraph 15 · Citation strength: strong
Protections
Commitments and features that benefit users.
Protection95% confidence
No late fees
You will never be charged any late fees when you buy with Affirm.
Why it helps: This protects users from incurring additional costs due to late payments.
You will never be charged any late fees when you buy with Affirm.
HOW AFFIRM WILL SERVE YOU, paragraph 5 · Citation strength: strong
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