How to Cancel Affirm in 2026 (Close Account + Pay Off BNPL Loans Early)
Updated 2026-02-20 · 7 min read
🏦 It's a Loan. Call It What It Is.
Affirm is not a "payment method." It's a consumer lending company that issues personal loans at up to 36% APR. Every Affirm purchase creates a new loan on your credit report. A $1,000 Peloton financed at 15% APR over 48 months costs $1,336 total — that's $336 in interest alone. And unlike credit cards, you can't transfer the balance to a 0% APR card.
Affirm's Products (All Are Loans)
Pay in 4: 4 biweekly payments, 0% APR — the only truly interest-free option, limited to purchases under ~$250
Monthly Payments: 3-60 month loans at 0-36% APR — rate depends on credit check at time of purchase
Affirm Card: Debit card that converts purchases into Affirm loans — every swipe creates a new installment plan
Affirm Savings: FDIC-insured savings account — 4.00% APY (this is actually decent, but they want your banking relationship)
Adaptive Checkout: Merchants embed Affirm at checkout — you might use it without realizing it's a loan
How to Pay Off Affirm Loans Early
Open the Affirm app or go to affirm.com
Tap Account → see all active loans
Select a loan → tap Make a Payment
Choose Pay in Full to pay remaining balance
No prepayment penalty — Affirm doesn't charge fees for early payoff
Interest stops accruing the day you pay off — so earlier = less total interest paid
Repeat for every active loan
💡 Prioritize the Highest APR Loan First
If you have multiple Affirm loans, pay off the one with the highest APR first (avalanche method). A $500 loan at 30% APR costs way more in interest than a $500 loan at 10% APR. The 0% APR "Pay in 4" loans can wait.
How to Close Your Affirm Account
First, pay off all active loans (required)
If you have an Affirm Card, disable it and cut it up
If you have Affirm Savings, transfer the balance to your bank
Open the app → Account → Settings → Privacy
Select Delete Account
If no in-app option, email help@affirm.com with subject "Account Deletion Request"
Or call 1-855-423-3476 and request account closure
For data deletion (CCPA), email privacy@affirm.com
Credit Score Impact
Every Affirm loan is reported to Experian (and sometimes TransUnion/Equifax)
Hard credit pull: Each purchase over the Pay in 4 limit triggers a hard inquiry
Multiple loans = high utilization look: Even though they're installment loans, multiple open accounts signal risk to lenders
Late payments: Reported after 30 days — drops your score 50-100 points
After paying off: Loans stay on your credit report as "paid" for 10 years (positive history)
Closing account: No negative impact beyond reduced credit mix
The Real Cost of "0% APR" Affirm
What Affirm doesn't tell you about 0% APR offers:
✗ The merchant pays Affirm 5-8% of the purchase price for offering 0% financing
✗ That cost is baked into the product price — you're paying it whether you finance or not
✗ Some merchants offer cash discounts or lower prices on Amazon/Walmart that don't include the Affirm markup
✗ You lose the ability to chargeback — credit card dispute rights don't apply to Affirm loans
✗ No purchase protection, extended warranty, or travel insurance that credit cards offer free
In many cases, a 2% cashback credit card paid in full is cheaper than "0% APR" Affirm.
Why the Affirm Card Is Especially Dangerous
The Affirm Card turns every purchase into a potential loan. Grab coffee? That's a 4-payment plan. Buy groceries? Another installment. The card makes BNPL frictionless — and friction is what prevents impulse debt. Unlike a regular debit card that shows your real balance, the Affirm Card shows your "spending power" — which is just how much debt Affirm will let you take on.
Better Alternatives for Large Purchases
0% APR credit card: 15-21 months interest-free on new purchases (Chase Freedom, Citi Double Cash, etc.) — PLUS purchase protection, dispute rights, and rewards
Save up first: If you need 12 months to pay, save for 12 months instead — earn interest instead of paying it
Manufacturer financing: Apple Card (0% for 24 months on Apple products), Samsung financing, etc.
Credit union personal loan: Rates as low as 6-10% APR — half of Affirm's typical rate
Buy used/refurbished: A refurbished iPhone from Apple is $200-400 less and includes a warranty
⚠️ Affirm + Amazon = Dangerous Combination
Amazon offers Affirm at checkout on purchases over $50. This makes one-click impulse buying even easier. If you see "Pay over time" on Amazon, ignore it. The 2% cashback from an Amazon credit card paid in full is a better deal than any Affirm plan.
🔍 How Many Loans Do You Have?
Affirm loans hide in your bank statement as "AFFIRM", "AFFIRM.COM", or "AFFIRM PAYMENT". Upload your statement to JustCancel to see every recurring payment including BNPL installments you might have forgotten about.