Buy now and pay later with the new Affirm debit card

Posted: 26 February 2021 3:15 pm

This debit card will let you pay for purchases over time when it debuts later this year.

Affirm, a lender specializing in installment loans, announced Thursday that it plans to launch the first debit card in the US that will allow consumers to pay for purchases over time. The Affirm Card will give cardholders the option to either pay for an entire purchase at the point of sale or finance it over several months. There won’t be any late fees or hidden charges, but you can expect to pay an interest rate ranging from 10% to 30%, and if you miss a payment, your credit score will suffer.

At a glance

  • Name: Affirm Card
  • Features: It’s a debit card you can choose to use like a credit card.
  • Fees: You’ll pay interest, but there are no late fees, prepayment fees or annual fees.
  • Limitations: You won’t be able to finance all purchases from all retailers.

How the Affirm Card will work

Affirm hasn’t shared many details regarding how its new card will work, but we do know that the financing option will be heavily dependent on the company’s smartphone app. The app will include a unique post-purchase feature that allows you to convert any eligible transaction into a pay-over-time plan with just a few taps.

What are the pros and cons of the Affirm Card?

The Affirm Card will have a few features we’re excited about, but there are also some drawbacks.


  • Freedom of choice. The Affirm Card will let you choose to instantly pay for entire purchases or finance them over time.
  • No late fees. If you miss a payment with Affirm, you won’t get stung with an expensive late fee.
  • Use at 1,000s of merchants. You’ll be able to use your Affirm Card with a growing number of online and offline retailers.


  • Not accepted everywhere. Not all merchants or transactions will be eligible for financing with your Affirm Card.
  • No rewards. The Affirm Card doesn’t appear to offer a rewards program of any kind.
  • Down payment may be required. Some transactions or retailers may require you to pay for a portion of your purchase upfront.

How to sign up

The Affirm Card isn’t yet available, but you can sign up for the waiting list now by visiting If you’d like to learn more about the company, check out Affirm’s existing financing service.

Image: Supplied

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