21–30 of 298 posts
I've never understood the appeal of using a product like Affirm, especially if you already have a credit card. Credit cards already give you a 30-day grace period before purchases start accruing interest. Using Affirm to extend that to 42 days seems inconsequential. It seems like their target customer are people bad with credit, which would make them predatory.
I've never understood the appeal of using a product like Affirm, especially if you already have a credit card. Credit cards already give you a 30-day grace period before purchases start accruing interest. Using Affirm to extend that to 42 days seems inconsequential. It seems like their target customer are people bad with credit, which would make them predatory.
My next steps are to file a complaint with the NY State Attorney General's office. This is a right approach. I wish more people know about this.
Filing a complaint is nice, but you’re basically at the mercy of the AG to care enough to do something.
Earlier quoted context omitted.
Indeed. I would just pay it again. 25% of $271 is cheaper than a credit score hit. You can simultaneously dispute with the Attorney General office.
And that's how they make money on 0% interest loans.
Earlier quoted context omitted.
And that's how they make money on 0% interest loans.
A buggy edge case on a tiny borrowed amount does not equate a business model of a multi-million dollar corporation. I've borrowed a total of almost $10,000 thru Affirm over the years and never had problems.
I've never understood the appeal of using a product like Affirm, especially if you already have a credit card. Credit cards already give you a 30-day grace period before purchases start accruing interest. Using Affirm to extend that to 42 days seems inconsequential. It seems like their target customer are people bad with credit, which would make them predatory.
Asked and answered? Majority of Americans have credit cards. An awful lot still don’t, and have shit financial situations that make getting one pretty hard. This is a widely documented phenomenon.
My next steps are to file a complaint with the NY State Attorney General's office. This is a right approach. I wish more people know about this.
Also file a complaint with the CFPB. https://www.consumerfinance.gov/complaint/
I've never understood the appeal of using a product like Affirm, especially if you already have a credit card. Credit cards already give you a 30-day grace period before purchases start accruing interest. Using Affirm to extend that to 42 days seems inconsequential. It seems like their target customer are people bad with credit, which would make them predatory.
Agreed about them being predatory. They literally lose money for every person that uses their service in the recommended/correct way, and only make money when someone flubs a payment.