What is Affirm?

Affirm is a financing alternative to credit cards and other credit payment products. Affirm offers real-time financing for purchases online. With Affirm, you can buy and receive your purchase now, and pay for it in fixed monthly installments.

Why buy with Affirm?

Here is what Affirm offers:

Buy and receive your purchase now and pay for it over time. This allows you to split up the price of your purchase into fixed payment amounts that fit your monthly budget. If Affirm approves you for a loan, Affirm discloses your loan terms before you make your purchase. You will know exactly how much you’ll owe each month, the number of payments you must make, and the total amount of interest you’ll be paying over the course of the loan. Affirm does not charge hidden fees.

The application process is secure and in real-time. Affirm asks you for a few pieces of
information. After you provide this information, Affirm will notify you of the loan amount you’re approved for, the interest rate, and the number of months you will have to pay off your loan, all within seconds.

You don’t need to have a credit card to make a purchase.

Affirm bases its loan decision not only on your credit score, but also on several other data points about you. You may be eligible for Affirm financing even if you don’t have an extensive credit history.

Affirm will send you email and SMS reminders in advance of your upcoming payment. You can also enable “Autopay” to schedule automatic monthly payments on your loan.

How does Affirm approve borrowers for loans?

Affirm will ask you for a few pieces of personal information – your name, email, mobile phone number, date of birth, and the last four digits of your social security number. Affirm uses this information to verify your identity, and to make an instant loan decision. Affirm will base its loan decision not only on your credit score, but also on several other data points about you. This means you may be able to obtain financing from Affirm even if don’t have an extensive credit history.

Does Affirm perform a credit check?

Yes, when you first create an Affirm account, Affirm performs a ‘soft’ credit check to help verify your identity and determine your eligibility for financing. This ‘soft’ credit check will not affect your credit score.

How do I make my payments?

Yes, when you first create an Affirm account, Affirm performs a ‘soft’ credit check to help verify your identity and determine your eligibility for financing. This ‘soft’ credit check will not affect your credit score.

Are there any interest or fees associated with Affirm loans (late fees)?

Affirm loans vary between 0% APR or 10-36% APR simple interest. The corresponding finance charge is the only fee associated with an Affirm loan. Affirm does not charge late fees, service fees, prepayment fees, APR penalties or any other hidden fees for a late payment. They strive to always be more transparent and fair than any other form of financing.

What are the terms of an Affirm purchase agreement?

Your rate will be 0% APR or 10-36% APR based on credit, and is subject to an eligibility check. Payment options through Affirm are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required. Age requirement: Be 18 years or older (19 years or older if you’re a ward of the state in Nebraska).

What is Katapult?

Katapult is a no credit required, lease to own space. Have bad credit? Don’t have credit history? Not an issue. Katapult offer a simple, straight-forward lease to own payment option to help you acquire the products you want and need.

What is lease to own?

Before each payment is due, Affirm will send you reminders via email and SMS that will include
the installment amount that is coming due and the due date. You can also sign up for autopay so
you don’t risk missing a payment. Please follow these steps to make a payment:

• Go to www.affirm.com/account
• You will be prompted to enter in your mobile number where you will be sent a personalized security pin.
• Enter this security pin into the form on the next page and click “Sign In.”
• You’ll now see a list of your loans and payments coming due. Click on the loan payment
  you would like to make.
• You can make a payment utilizing a debit card or ACH bank transfer.

Who can get a Katapult lease?

Anyone over 18 years old may apply and may be approved, other requirements apply.

Will Katapult remind me to pay my bill?

Everyone is a little forgetful, so Katapult try to help. Before each payment is due, Katapult will send you a text message and an email regarding the payment date and the amount of your next lease to own payment.

What is Katapult lease to own early purchase option?

With Katapult’s lease to own program, you have discounted early purchase options available to you.

90 Day Early Purchase Option:

Pay off your lease in the first 90 days for just 5% over the cash price + your $45 initial payment and applicable taxes.

Continue to lease and pay off at any time:

With Katapult lease to own you have the option to continue to lease your items and pay off at any time prior to full term at a discounted amount.

My credit is not the greatest. Do I need to have good credit to apply for a Katapult Lease purchase agreement?

No credit? Bad credit? No problem. Katapult understand that things come up in life. They work with customers that have no credit, bad credit or a bankruptcy. “No credit required” does not mean nor imply that no inquiry will be made of credit history or creditworthiness. Katapult may check past transactional history and report information about your lease purchase agreement to credit reporting agencies, but no established credit history is necessary.

What are the terms of a Katapult lease purchase agreement?

Katapult auto-renewing lease purchase agreements are 10 – 18 months depending on the lease amount and state in which the customer resides. With a Katapult lease purchase agreement you have three options:

1.) Continue to make lease payments and a portion of every payment goes toward reducing the buyout price.

2.) Buy the products outright at any time during your lease purchase agreement term.

3.) Return your item(s)

Does Katapult charge an interest rate (Annual Percentage Rate)?

No, Katapult offer you a lease to own program. Customers are entering into a lease purchase agreement to lease products with an option to own, by exercising an Early Purchase Option or making all lease to own payments scheduled in the lease purchase agreement. The lease purchase agreement is not a credit transaction. Lease to own payments do not include an interest rate or APR and these will not be used to calculate the lease amount.

Katapult consider the following four factors when calculating the lease to own payment.

1. The cash price of the product
2. The state in which the customer resides
3. The maximum term a customer can lease the product
4. The state/city sales tax rate