Affirm is a leading buy now and pay later payment provider. The San Francisco based company allows shoppers to spread the cost of their purchases over 6, 12 and 18 months. The benefit of Affirm is that the interest rate for large purchases can be as low as 10% as long as you pay the repayments on time.
However, some shoppers report that their Affirm payments are being denied at online checkouts. Some people have reported getting the following error “based on an eligibility check, we can’t create an account for you just yet”. Getting this message can be frustrating so we have investigated the most common reasons why Affirm payments get denied.
1. Affirm couldn’t verify your identity
The main reason Affirm usually denies payment is that their systems cannot verify who you are. To complete payment via Affirm the company must be able to confirm your identity so they can check that you are credit worthy. In most cases, your full name, address and phone number is enough to check your identity.
But what if these details are wrong? For example, if you’ve recently moved house or changed your name.
One reddit user found that they got denied payment as their maiden name was still on their credit report.
“It was because when I changed my last name after getting married, it did not go through on my credit report”reddit user: u/costellocg
Before purchasing we recommend checking that details you use to pay for goods or services match what your bank has on file for you.
2. You bank is not listed
If Affirm requires more information you may be asked to confirm your bank. Unfortunately, not all banks are listed at this time. If you can’t find your bank then Affirm will not be able to complete your purchase. Affirm says they are continually adding more banks to their system.
3. You recently moved or changed address
Your postal address is an important piece of information that Affirm uses to match your identity. If Affirm is unable to link your postal address with an address on its system then your payment will be denied. Some users have found that when ordering items to an address other than their home, such as an office, then this has caused issues.
If you have recently moved home then you must update your customer records at your bank. We recommend checking these are correct before ordering online.
4. Lack of approved credit
When applying for Affirm it is important to be aware that the company will carry out a soft credit check. This won’t affect your credit score but it will check your credit risk as a borrower. Depending on the results of the soft credit check Affirm may deem you as not credit worth of a loan.
On the official website Affirm makes it clear that checking your eligibility will not affect your credit score. It is worth checking your credit score before applying to Affirm as their decision is often final. If your credit score is above average then this will reduce the chances of Affirm denying you.
5. Technical issue
We have heard people who appear to be eligible also having problems using Affirm on Walmart and other similar websites. You may find that you get the following error “affirm temporarily unavailable walmart”. If you have problems using Affirm on Walmart or any other well-known retailer then the reason could be a technical issue.
In most cases we recommend refreshing the page and trying the checkout process available later. If the problem persists you should try contacting the retailer. Don’t forget Affirm is not available on all products at Walmart.
More information can be found about paying with Affirm at Walmart here.
When can I reapply for Affirm?
Unfortunately, Affirm does not let you reapply once a decision has been made. That’s why it is so important to make sure you are aware of the minimum eligibility criteria before signing up.
Here is how to get approved for Affirm
To improve the chances of getting approved for Affirm we recommend you do the following.
- Know your credit score! Your credit score matters and is one of the most important things Affirm considers when approving you. If you don’t know your credit score then find out. There are lots of services which will let you check your credit scores, you can even check for free using Credit Karma. If you have a very low credit score then we recommend improving it before applying to Affirm.
- Double check your contact details and addresses. Does your home address match the details your bank has on file. One of the most common reasons for being declined is your personal details being wrong. Having the same details across every financial institution you use will help Affirm verify your identity during the eligibility check.
- Prequalify before making a purchase. Prequalifying means you will know what your spending limit is before making a purchase. This is especially handy if you are making a large purchase. To avoid getting denied at checkout we recommend you prequalify via Afiirm’s website.
What credit score is needed for Affirm?
One question everyone wants to know is, what credit score do you need for Affirm? Officially, Affirm do not share a minimum credit score number. However, we have seen other websites give ranges between 550 and 640. It is impossible to know exactly what credit score Affirm require. However, we can assume that anything above 640 means you have a good chance of being accepted by Affirm.