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I had poor credit from student loans and Affirm was very generous to me when other banks weren't. Affirm helped lay the foundations to rebuilding my credit. The
by warent 5y ago
I had poor credit from student loans and Affirm was very generous to me when other banks weren't. Affirm helped lay the foundations to rebuilding my credit. They've been good for at least my case
- op00to 5y agoHow was Affirm generous? Did they waive interest?
- skinnymuch 5y agoPoor credit means you’re not getting credit cards beyond measly ones
- thaway2839 5y agoIt's funny because giving people with poor credit loans they couldn't repay is exactly what led to the financial crisis and what we villainized the banks for.
- horsawlarway 5y agoThis is only true in a vague and mostly irrelevant manner. Yes - we gave people with poor credit mortgages to buy homes, and yes that did lead to the financial crisis, but not because they were poor and had bad credit. It was because the loans were very large, and were backed by the supposed value of the home the person was buying. Then packaged in ways that hid the risk until the last minute - making those assets toxic when the housing bubble popped. For small personal loans, there are not the same sort of systemic risks.
- JumpCrisscross 5y ago> helped lay the foundations to rebuilding my credit Does Affirm report paid-off loans to credit agencies?
- toomuchtodo 5y agoYes. They also report each payment (had an Affirm loan for an Aviron row machine, as it was the only way to buy it, which is a whole other story).
- FireBeyond 5y agoI have had at this point at least a dozen Affirm BNPL loans, all paid. There's not a single Affirm tradeline on any of my credit reports.
- toomuchtodo 5y agoOdd. It’s on my most recent tri merge credit report a lender pulled (and provided me) for a recent RE refinance. Looks like they are selective about which loans they report? My purchase was ~$2k, with 12 monthly payments. https://helpcenter.affirm.com/s/article/reporting-to-credit-bureaus https://helpcenter.affirm.com/s/article/reporting-to-credit-...