How Do Installment Payments With Affirm Work? by Emylee What is Affirm? Affirm offers clear, simple financing for your online purchases in just a few clicks: Add your desired items to your shopping cart and select the Affirm payment option on our checkout page. Enter a few basic pieces of information to identify yourself. Affirm will instantly let you know if you are approved for a loan. Review your payment plan details and click “confirm” to finalize the loan. Once you’re done, your purchase will be on its way! Just remember to pay your bills on or before their due dates or sign up for autopayment at www.affirm.com/pay. Cross River Bank is the lender for all loans initiated through Affirm. When do I receive my Gemvara design if I pay with Affirm? Your order is processed immediately upon approval with Affirm at checkout. Your Gemvara piece will then be handcrafted and delivered to you upon completion. As always, our 45 day returns, free ring sizing and free shipping will apply once you receive your piece. What type of financing does Affirm offer? With options that allow you to control your budget, Affirm provides the option for 3, 6, or 12 monthly payments and rates from 10-30% APR based on your credit. Actual rates will be shown at checkout. Does Affirm perform a credit check? To verify your identity and provide you with a financing offer when you sign up, Affirm does a ‘soft’ credit check that does not affect your credit score. If you choose to complete a purchase and finance it with Affirm, they will do a single ‘hard’ credit check when your first order is processed. This may have a minor impact on your credit score. Future purchases with Affirm will not require additional ‘hard’ credit checks Do I have a credit limit with Affirm? Affirm has no fixed credit limit. They underwrite each loan individually taking into account the merchant, items purchased, and other information available at the time of purchase. Customers can take out multiple Affirm loans at once, as each Affirm loan application is evaluated separately as a closed-end transaction. Does Affirm charge any fees or interest? Affirm charges a small finance charge when you split your purchase into multiple payments. They will always clearly state the cost of the finance charge in terms of real dollars ($) and an Annual Percentage Rate (APR) so that you can know exactly what you’re paying. Affirm never charges any compounding interest and there are no hidden fees. Why was I prompted to pay a down payment with a debit card? Unfortunately, Affirm is not always able to approve the full amount of your order. If this happens, they will provide a debit card down payment option so that you may still complete your purchase right away. Why was I prompted for a checking account? To consider a credit application, Affirm sometimes requires additional information. This may include requesting an active checking account number, which helps them verify your identity and your ability to repay the requested loan. If Affirm prompts you for this information, but you are unable to provide it, Affirm will be unable to approve your credit application. How do I open an account with Affirm? After selecting the items you would like to purchase, you can apply for an account with Affirm in our checkout process. Where can I find more information about Affirm? To learn more about Affirm and their financing options, please visit https://www.affirm.com/faqs/. If you have any questions for the team at Gemvara, don’t hesitate to reach out to one of our Jewelry Consultants.