Finance, Personal

Affirm Canada Review 2023: Everything You Need to Know

When you’re planning on making a big purchase, it is essential to find a way to pay for the items or services affordably. That’s where buy-now-pay-later (BNPL) comes in. BNPL companies allow customers to make purchases and pay for them later in installments. 

This is a great alternative to using credit cards, which can lead to high-interest rates or an overwhelming amount of interest due if you’re late on payments. 

Affirm Canada is one of the leading providers of BNPL payment plans that allow consumers to make purchases more affordable.

This Affirm Canada review covers everything you need to know about the BNPL company.

Let’s get into the details!

Affirm Canada Review
Photo credit: Andrea Piacquadio

What is Buy Now Pay Later Affirm Canada?

Affirm is a U.S.-owned and operated company with a focus on providing installment loan solutions to consumers.

The company was established in 2012 with its headquarters in San Francisco, United States.

Affirm Canada was established in 2021 as part of Affirm’s expansion strategy when the company acquired PayBright, one of the buy-now-pay-later companies in Canada 

The company has since then expanded its presence across Canada and is now available at thousands of Canadian merchants.

Affirm offers its customers an opportunity to purchase items with no-interest rates and then pay for them in installments.

The company’s mobile app also allows users to make purchases and manage their finances through one convenient location – their smartphones, tablets or computers.

How Does Buy Now Pay Later Affirm Canada Work?

So how does Affirm Canada work? The company works similarly to other buy-now-pay-later companies in Canada.

When you use Affirm Canada as your payment option, you will be able to choose an installment plan that suits your budget.

Affirm Canada provides you with two loan repayment options. Now let’s look at the payment options available for you at Affirm below:

Affirm Pay in 4

The pay in 4 payment option allows you to divide your loan into four equal parts and make payments every two weeks.

The best part is that you can repay your Affirm loan without paying any interest or fees.

Also, the payment option allows you to set automatic payments. This way you won’t have to forget to make any payments.

You should note, however, that you will have to make your first payment at checkout while you make the remaining three payments every two weeks.

This simply means you have approximately one and a half months to repay your loan.

Affirm Monthly Payments

This payment option is ideal for people who always make big purchases. The payment option allows you to make monthly payments.

You can choose to make your payments over three months, six months or twelve months without any hidden charges.

The Affirm monthly payment option also allows you to set up automatic payments so that your payments will be deducted automatically at any time due.

LEARN MORE: Best Buy Now, Pay Later Apps in Canada

Pros and Cons of Affirm Canada

Just like other buy-now-pay-later companies, Affirm Canada has its good and bad sides you need to weigh before deciding whether it is right for you.

Here are some of the pros and cons of Affirm Canada to help you make an informed financial decision:


  • There are no interest or fees attached to the loan you get from Affirm Canada.
  • The loan payment options are very flexible.
  • Using Affirm Canada will not affect your credit score.
  • Easy setup process.
  • There are no hidden fees.
  • You can access Affirm Canada at thousands of Canadian merchants.


  • The ease with which one can obtain an installment loan from Affirm Canada could lead to taking on excessive debt.
  • Although Affirm Canada doesn’t affect your credit score, if you don’t make payments on the due date, it could affect your chances of getting a loan with the company in the future.

Affirm Canada Fees

When you choose Affirm Canada as your payment option, you don’t have to pay fees such as late fees and annual fees.

However, Affirm Canada charges an annual percentage rate (APR) that ranges from 0 to 30%.

The APR charged by Affirm is determined by where you do your shopping and your credit score. Provincial restrictions also apply to the APR.

You should note, however, that it is not everyone that qualified for 0% APR from Affirm. Also, the 0% APR is not available in all provinces. 

How to Buy With Affirm

So how do you make purchases through Affirm Canada? The process of buying with Affirm is very straightforward.

To buy with Affirm Canada, all you have to do is follow the steps below:

1. Fill Your Cart

The first step is to fill your cart by shopping at your favourite stores in Canada and choosing Affirm Canada as your payment option.

After choosing Affirm, you will be required to provide some information that Affirm will use to determine if you are eligible or not.

Affirm Canada will then conduct a soft credit check. But you don’t have to worry because this will not affect your credit score.

Choose How to Pay

After filling out your cart, the next step is to choose your payment option. You can choose to divide your payments into four equal parts or choose to make monthly payments of 3 months, 6 months or 12 months.

Once you are done choosing your payment option, you can then go ahead and confirm your loan.

Note: If you choose the monthly payment option, you will have to pay an APR that ranges from 0 to 30%. 

However, if you choose the Affirm pay in 4 payment option, you will pay your loan without any interest.

Make Your Payments

Once you are done choosing your payment option, you can now go ahead and make your payments.

To ensure that you don’t miss any of your payments, you can set up AutoPay. You can also download the Affirm app to keep track of your payments.

Does Affirm Hurt Your Credit?

The short answer to this question is no. When you apply for Affirm Canada, your credit score will be used by the company to determine if you will qualify or not.

To do this, Affirm Canada will conduct a credit check to know your credit score. But you don’t have to worry because it is usually a soft credit check.

This means that your credit score won’t be affected. Also, Affirm Canada doesn’t report to any of the credit bureaus.

However, if you make late payments, it may affect your chances of getting loans with Affirm in the future.


Conclusion on Affirm Canada Review

Affirm Canada is an innovative company that lets you make a purchase without having to pay the full amount at once. 

The company offers you an option to make purchases and split your payments into four equal parts and make payments every two weeks.

They also give you the option to split your payments over a 3, 6 or 12-month period. With Affirm Canada, you can make big purchases and pay for them gradually.

The best part is that Affirm Canada offers no-interest loans with no hidden fees which makes them an ideal choice when you need money fast. 

Ultimately, if you’re looking for an easier way to pay for larger items, then using the Affirm Canada service may be an excellent choice.

I hope this Affirm Canada review has helped you in determining if the BNPL company is the best option for your everyday and big purchases.

FAQs on Affirm Canada Review

Is Affirm and PayBright the same?

Yes. PayBright was acquired by Affirm in 2021. It was after the acquisition of PayBright that the name was changed to Affirm Canada.

Is Affirm available for Canada?

Yes. Affirm is available at thousands of stores in Canada making payment for purchases easier for millions of its customers.

Is Affirm payment legit?

Absolutely. Affirm is a legitimate BNPL company that offers its customers a flexible and secure way to make purchases.

Does anyone get approved for Affirm?

No. Not everyone can be approved for a loan by Affirm. This is because the company uses your credit score to determine if you qualify for a loan or not. 

After conducting a soft credit check, Affirm will send you a notification email stating whether you qualified or not. If you don’t qualify, the company will also state the reason or reasons in the email.

Can you pay off Affirm early?

Yes. If you wish to pay your Affirm loan early you can go ahead and do that. The best part is that Affirm doesn’t charge any penalty fees for paying your loan earlier than the due date.

What is my credit limit with Affirm?

There is no credit limit at Affirm. However, the amount of loan you can get with Affirm depends on several factors such as your credit history.

How long does Affirm take to process payment?

Affirm usually takes 7 to 14 business days to process payments. Therefore, you should expect your payment to be processed within the period depending on your bank or financial institution.

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About John Adebisi

John Adebisi is a CPA, FCCA and MBA holder with a Bachelor's degree in Accounting & Finance. He has over a decade of experience in writing personal and business finance content for audiences across North America, Europe, the UK and Africa. In addition to his writing experience, he also has a strong background in financial research and analysis, giving him a unique perspective of the financial markets. John derives pleasure in helping people make smart financial decisions, and he believes that knowledge and experience can be valuable resources for anyone who wants to learn how to manage their money.

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