Affirm
Affirm Terms of Service, Privacy Policies & Partner Bank Notices
Affirm is a buy-now-pay-later and consumer lending platform that lets users finance purchases through installment loans, a debit card, and a savings account, often in partnership with third-party banks.
Analyzed August 12, 2026
Key findings
Summary
Affirm's terms involve extensive data sharing with multiple bank partners and third-party identity verification vendors (including biometric data collection via Jumio/Onfido), broad consumer reporting authorizations, and mandatory arbitration with a class action waiver, though an opt-out and small claims carveout are provided. Billing and account terms are relatively standard for consumer lending, with clear fee and dispute-resolution disclosures required by law.
Category Breakdown
Affirm collects extensive financial, identity, and biometric data, including through third-party identity verification providers that process facial scans and biometric identifiers.
From: TERMS OF SERVICEIn certain circumstances, Affirm uses Jumio for identity verification purposes. You consent to Jumio collecting, processing, and sharing your personal information, which may include biometric data, pursuant to Jumio's Privacy Notice.View source document
Affirm shares information with bank partners, service providers, credit bureaus, and third parties for marketing and servicing purposes, consistent with standard financial industry practice; several partner banks explicitly disclaim selling data.
From: TERMS OF SERVICEYou expressly authorize Affirm and each of Affirm's Bank Partners to obtain (for itself or on behalf of Affirm or a Bank Partner) consumer reports from consumer reporting agencies about you... in connection with our marketing effortsView source document
Feedback and submissions can be used by Affirm without restriction or compensation, which is broader than a typical content license but standard for feedback clauses on financial platforms.
From: TERMS OF SERVICEIf you submit comments, ideas, or feedback to us, you agree that we can use them without any restriction or compensation to you.View source document
Affirm may close or suspend accounts at its sole discretion for noncompliance and imposes waiting periods and conditions on account closure, but termination generally requires stated cause such as breach or nonpayment.
From: TERMS OF SERVICEThe privileges granted to you under this Agreement will terminate immediately and automatically without notice from Affirm if, in our sole discretion, you fail to comply with any term or provision of these Agreement.View source document
Mandatory arbitration under AAA rules applies with a class-action waiver and jury trial waiver, but the agreement provides a 30-day opt-out, a small claims court carveout, and a one-year claim limitation period.
From: TERMS OF SERVICERIGHT TO OPT OUT: If you do not want this Section to apply, you must send Affirm a signed notice within 30 calendar days after you agree to be bound by the Agreement... any party may proceed with their individual claims in small claims court if that option is availableView source document
Affirm discloses interest rates, fees, and billing dispute rights clearly, with no late fees charged, though loan terms and plan totals may be adjusted up to 15% under certain conditions.
From: TERMS OF SERVICEYour purchase price will not increase by more than 15% and your plan total and the amount of interest, if any, will adjust accordingly.View source document