Apps Like Affirm That Offer Buy Now, Pay Later Plans

Affirm is a popular buy now, pay later (BNPL) app that allows consumers to buy big-ticket items and pay back the total amount in four interest-free installments. Unlike many similar apps, it doesn’t charge service or late fees for its “pay in 4” plan. It also offers purchasing power up to $20,000 with longer repayment plans from 3 to 60 months.

However, interest rates for monthly payment plans could run as high as 36%, and there is a hard credit check. Plus, Affirm reports delinquent payments to Experian for its “pay in 4” plan, but it doesn’t report your on-time payments. So, the interest-free plan can only hurt your credit, not help it.

Our 14 top picks for apps like Affirm

If you decide this app doesn’t work for you and want to compare other companies like Affirm, consider these similar BNPL apps. Or, if what you need is cash instead of credit, we’ve also included a variety of cash advance apps so you can see how those stack up and if they might be a better fit for your needs.

How does Affirm compare?

Affirm stacks up pretty well against the competition, with some of the highest loan amounts and no interest or late fees on short-term loans. It also offers a variety of repayment options, with terms as long as five years for bigger purchases.

But rates on monthly loans could go as high as 36% — worse than a credit card or most personal loans. Plus, it can only hurt your credit, not help, whereas some apps are starting to offer credit-building features with their loans.

Check out our full review of Affirm to learn more.

Why choose a BNPL app

BNPL apps can be a great tool if you want to make a larger purchase but prefer to spread the cost over a few paychecks. This service is especially important if you need something important today — like a new refrigerator — but don’t have enough money to cover it.

Plus, many BNPL providers only require a soft credit check at most, so they’re relatively easy to qualify for. But rates can get high if you opt for a longer repayment plan, it can lead to overspending and most don’t help build your credit like loans or credit cards.

Why cash advance apps may be a good alternative

One of the biggest advantages of cash advance apps over BNPLs is the access to cash. After all, a BNPL loan can’t typically help you out if you need gas now to get to work or a little cash to grab a drink with friends.

Plus, some cash advance apps are practically free, whereas BNPL loans often come with late fees, service charges or high interest rates if you need more than a month or two to pay it back. However, some cash advance apps require a monthly subscription, loan terms are short and fees for instant transfers are sometimes fairly steep.

Good for no-fee, 0% interest cash advances

Go to site

• Borrow up to $150/day, with a max of $750 between paydays
• No credit check
• No monthly fees or interest
• Connect bank account to access cash advance

Good for quick turnaround

Go to site

• Get up to $500 per pay period
• No interest or required fees
• Access your pay within 24 hours

Get up to $750 before your payday

Go to site

• Get up to $750 before payday, once you qualify
• No credit checks
• No interest
• Subject to Paycheck Advance Terms and Conditions

Other alternatives

If neither a cash advance nor BNPL loan fits your needs, consider these alternatives:

• Personal loan. For larger loans, consider a personal loan, with amounts up to $50,000 or even $100,000. You may need good credit to qualify, but you might qualify for better rates than with a BNPL provider.
• 0% credit card. A variety of credit card companies offer cards with 0% promotional rates for 12 to 18 months, giving you longer to pay for your purchases interest-free.
• Debt consolidation loan. If you find yourself leaning on BNPL offers because your credit cards are maxed out, you may benefit from a loan to consolidate that debt into a single monthly payment with a lower interest rate.
• Save up. While it’s not always possible, saving up for the things you want can give you a sense of accomplishment and keep you out of debt.
• Credit counseling. Nonprofit credit counseling agencies offer free or low-cost services to help you create a budget and take control of your finances.

Frequently asked questions

Can I get multiple loans from companies like Affirm?

Yes. In many cases, you’ll have a total spending limit, and you can have as many loans as you want up to that limit. Other sites like Affirm review each purchase as a new loan, so you could be approved one day and denied the next, depending on a number of variables.

How do places like Affirm decide how much I’m eligible for?

The exact criteria for how much you can borrow depends on the BNPL provider. Some factors that apps like Affirm may consider include your income level, account usage and history with the app, how much credit you’ve used and if you have other debts.

To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.

Written by

Lacey Stark

Writer

Lacey Stark is a freelance personal finance writer for Finder, specializing in banking, loans, investing, estate planning, and more. She has 20 years of experience writing and editing for magazines, newspapers, and online publications. A word nerd from childhood, Lacey officially got her start reporting on live sporting events and moved on to cover topics such as construction, technology, and travel before finding her niche in personal finance. Originally from New England, she received her bachelor’s degree from the University of Denver and completed a postgraduate journalism program at Metropolitan State University also in Denver. She currently lives in Chicagoland with her dog Chunk and likes to read and play golf. See full bio