Does Affirm affect your credit score? Checking your eligibility does not, because Affirm uses a soft credit inquiry to prequalify you. Once you accept a loan, though, Affirm reports the account and your payments to Experian and TransUnion, so paying on time can build your credit and missing payments can damage it.
Prequalifying Does Not Hurt Your Score
When you check what Affirm will lend you at checkout, the company runs a soft inquiry. Soft inquiries are not visible to other lenders and do not move your score. You can prequalify at as many retailers as you want without a credit consequence.1Affirm. How to Use Affirm for Flexible Buy Now Pay Later Payment Plans
That is different from what happens when you apply for a traditional credit card, an auto loan, or a mortgage. Those lenders usually run a hard inquiry, which stays on your credit report for two years and can shave a few points off your score. Several hard pulls in a short window can add up. Affirm avoids that at the shopping stage.
Once You Take a Loan, Affirm Reports It
Accepting a payment plan is where Affirm starts to show up on your credit file. Affirm reports payment activity to Experian and TransUnion. As of April 1, 2025, its Experian reporting covers all pay-over-time products, including the short-term Pay in 4 plans that used to be excluded.2Affirm Holdings. Affirm Expands Credit Reporting with Experian to Include All Pay-Over-Time Products Starting May 1, 2025, Affirm did the same with TransUnion, covering both Pay in 4 and longer-term monthly installment plans.3TransUnion. Affirm Expands Credit Reporting with TransUnion to All Pay-Over-Time Products
Affirm has not confirmed reporting to Equifax. If you want to see an Affirm account on your credit file, pull your Experian or TransUnion report.
How On-Time Payments Can Help
Because every plan type is now reported, each installment you pay on time adds to a positive payment history on two of the three major bureaus. Payment history is the largest single factor in most credit scoring models, so keeping several Affirm loans in good standing over time can strengthen your score.
The benefit does not end when you finish paying. A closed Affirm account in good standing can stay on your credit report for up to 10 years, and it continues to count in your favor during that time.4TransUnion. How Long Do Collections Stay on Your Credit Report
How Late Payments Hurt
Affirm does not charge late fees, but that does not shield your credit. Once a payment is at least 30 days overdue, Affirm may report it to the bureaus, and even a single reported 30-day late can produce a noticeable drop in your score. Payments that reach 60, 90, or 120 days late carry progressively heavier damage.5Experian. Can One 30-Day Late Payment Hurt Your Credit
Affirm tracks delinquency at 30, 60, and 90 days past due and reports each stage. At 120 days, it charges the loan off and writes it as a loss. After the charge-off, the account may be sent to a third-party collection agency, and from that point you have to work with the collection agency rather than pay Affirm directly. Affirm sends notices at each delinquency stage, so responding early is the way to keep the worst outcomes off your report.6Affirm Help Center. Collections and Charged-Off Payment Plans
A charge-off shows on your credit report and significantly reduces your score. Paying the balance later does not erase it. A closed account with a negative history stays on your report for seven years from the date of the first missed payment.4TransUnion. How Long Do Collections Stay on Your Credit Report
Fixing a Reporting Error on an Affirm Account
Federal law bars companies that report to credit bureaus from furnishing information they know or should know is inaccurate.7Office of the Law Revision Counsel. 15 USC 1681s-2 – Responsibilities of Furnishers of Information to Consumer Reporting Agencies If your credit report shows an Affirm payment marked late that you made on time, or a balance that does not match your records, you can dispute it.
File the dispute with the bureau showing the error, Experian or TransUnion. The bureau has 30 days to investigate, or up to 45 days if you add information during the investigation or filed after requesting your free annual report. Once the investigation is done, the bureau has five business days to send you the results and an updated report if anything changed.8Consumer Financial Protection Bureau. How Long Does It Take to Repair an Error on a Credit Report
You can also dispute directly with Affirm by mail at: Affirm, Credit Reporting Disputes, 650 California St, Floor 12, San Francisco, CA 94108. Include your name and loan number as shown on the credit report, the specific information you think is wrong, why it is wrong, and any documents that back you up. If the account is the result of identity theft, include an identity theft affidavit.9Affirm Help Center. Credit Reporting Disputes