SAN FRANCISCO – December 14, 2016 – Affirm, Inc., the company started by PayPal co-founder Max Levchin to give consumers honest financial products, today announced the results of its research into some of the nuances surrounding consumers' (especially millennials) relationship with debt and credit.
Drawing upon a survey of 1,089 U.S. individuals between the ages of 22-44 years old, the study reveals that while a large percentage of consumers worry about the mismanagement of credit cards, they are simultaneously open to a healthy amount of debt. Consumers recognize the necessity of credit, but have real concerns about its uncertain terms.
Key findings include:
"This research illustrates just how much of an impact uncertainty can have on consumers and their buying decisions," said Affirm Insights & Credit Analyst Ethan Monreal-Jackson. "Consumers are hungry for transparency and credit card alternatives that would allow them to responsibly spend. At Affirm, we're proud to bring honesty to consumer credit, providing consumers the flexibility they need to buy now and pay later without any fees, compounding interest or other surprises."
For access to the full survey summary, click here.
Affirm was founded with a goal to create honest financial products and services that empower consumers and improve lives. Our goal is to revolutionize the banking industry to be more accountable and accessible to consumers. Today, Affirm provides shoppers an alternative to traditional credit cards at the point of sale, giving them the flexibility to buy now and make simple monthly payments for their purchases. Unlike payment options that have compounding interest and unexpected costs, Affirm shows customers upfront exactly what they’ll pay each month — with no hidden fees and no surprises. Affirm partners with over 1,200 merchants, including travel retailers like Expedia, Orbitz, CheapAir and Suiteness, giving shoppers the option to pay with Affirm at checkout.
Choose the plan you like. Terms up to 36 months are available at select stores. (?)For example, a $500 purchase might cost you $46/mo over 12 months at 15% APR.
You know exactly what you’ll owe. In fact, we don’t even charge late fees.
Checking your eligibility won’t affect your credit score, and you’ll get a decision right away.