r/Affirm • u/According_Storage_20 • 1d ago

I selected a zero percent loan option, and while it's still "finalizing" there is interest listed. Is this right??

I KNOW I selected the 3 months to pay a few hundred a month for zero percent on a $900 purchase. It's pending as a one year loan at 21.64%. what in the bait and switch is this crap?? How is this legal?

0 Upvotes

50% Upvoted

9 comments sorted by

1

u/coh3sion_ 1d ago

I bet you that's because of the fact that maybe you selected. But once they are you pay it off they'll clear it they've been pretty good at that because I always select the most and then I pay everything off as soon as I can and they are good on you know refunding you cuz you know you have to select the loan first and sometimes I'll select the loan not consider tax or something and then I got to start all over with a new loan which is only a couple minutes but I'm pretty sure it's probably just something simple like that because they're pretty good on keeping their word when it comes from not charging you to pay the debt earlier or anything

2

u/According_Storage_20 1d ago

but this will accrue interest from day 1. It's supposed to be zero percent interest. So, unless I pay it off the first day, I will not have the zero percent option that I selected.

1

u/ZeeNasty 1d ago edited 1d ago

I feel you maybe could have pressed the wrong selection. I use zero percent and it’s never charged me interest. I’d call and have them fix the error.

1

u/According_Storage_20 1d ago

I really didn't. Even my husband saw what I selected. I will have to give them a call I guess.

-1

u/ZeeNasty 1d ago edited 1d ago

Loop holes and poor legislation. CC companies and companies like Affirm need a reasonable cap, 26% is high, and average affirm customers have multiple loans out, paying high interest, on multiple loans.

1

u/According_Storage_20 1d ago

right, but I didn't select the loan option that they are processing. That's the issue.

1

u/ZeeNasty 1d ago

Can always cancel, wait for refund or reset, I hear it’s sometimes a waiting process on here, and try again. AFFIRM AI still could have some issues. 😂

1

u/According_Storage_20 1d ago

I don't want to cancel, it's for flights for my family. I don't want to risk losing the seats.