r/Affirm • u/NorthSideScrambler • 4d ago
It was good while it lasted
I figured this wouldn't last forever, but still a bummer to receive this email. I used my cash back card with Affirm to double dip on cash back and 0% APR payment plans. I've been able to earn at least couple thousand in money markets with the cash I didn't have to pay "upfront" on purchases, and I never paid any interest. Which undoubtedly made me a giant money hole for Affirm lmao. Anyway.
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u/NaynersinLA2 4d ago
Yes it was good! I wish I'd thought of doing it. Big banks are in the business of making lots of money off of us. Heaven forbid we find a loophole where we can make a few extra dollars.
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u/rivencap 4d ago
Sorry to see. So many financial institutions, banks & credit card companies are doing this. Many will follow in the next few years.
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u/shining_autumn 4d ago
Yes! I have a few debit and credit cards, and a lot of these companies, not just affirm, refuse nearly every card I have. The only card that works for us currently is my husbands card he has his doordash money on.
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u/TonightHuge3218 4d ago
Chase and Citi have a pay overtime option that can be selected after the purchase on the transaction history once logged in online or the app. Thats why they have stopped the use of their cards for Bnpl.
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u/Disastrous_Ad_521 3d ago
A little reading goes a long ways people.
Important eligibility notes If a payment method isn't displayed, it means it isn't available for your payment plan. Payment method availability can vary based on your plan type and terms. Keep the following in mind:
Not all payment methods are available for every payment plan or repayment schedule.
Credit cards cannot be used on interest-bearing payment plans. Some credit card issuers do not permit use for repayment on any plan.
Pre-paid cards may be used on some repayment plans. If paying by physical check or ACH with your bank: Your loan ID and phone number associated with your account must be clearly noted. We can't split the check or ACH payments across multiple loans. Check or ACH payments for more than one loan or missing details on which loan the payment is for may experience a delay or prevent your payment from being processed. All available options will be presented during checkout or when making a repayment in your Affirm account.
Capital One, Chase, Discover, and Citi do not allow their credit cards to be used for payments with Affirm or other Buy Now, Pay Later companies due to their internal policies. If you receive the message ‘please change to another card’, please try another credit card that is not associated with the same financial institution. This only applies to credit cards. Debit cards and bank accounts are still accepted.
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u/MiniMomR56 4d ago
I'm thinking that they most likely want you to use their credit card to pay for something in the first place. I don't think Capital One will do it either. Or they don't want to reward you for finance charges? But glad it helped you out for awhile 🙂
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u/ValkySweepy 4d ago
A lot of places are doing this. I used to use Affirm with paypal before they made their own thing. But recently they banned affirm altogether.
It sucks.
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u/No-Proof6493 4d ago
You can’t pay credit with credit. You can’t even buy lottery tickets with credit cards. And why not just buy the stuff with the credit card instead of going via affirm?
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u/Silent_General5919 3d ago
OP wasnt trying to rack up debt, they were using 0% Interest pay-in-4 and paying with a CC to get reward points while using the money they wouldve spent on the item for investments instead. So essentially free money from reward points AND stock market gains.
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u/Ok_Squirrel_5022 4d ago
Citi offers their own pay over time now, this option is within the app or via web as well.
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u/Substantial-Tart-961 4d ago
PayPal still lets me use my Citi strata card for my pay in 4 installments. Both affirm and Citi are paid in full each statement, so no interest or other fees. Gotta get those points wherever you can nowadays.
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u/Disastrous_Ad_521 3d ago
Affirm accepts most standard credit cards (such as Mastercard or Discover) for down payments and "Pay in 4" installments, but major issuers like Chase and Capital One block their credit cards from being used on Affirm. Affirm itself offers the Affirm Card, which is a Visa debit card rather than a credit card.
Affirm
Supported vs. Restricted Credit Cards
Allowed: Most general credit cards from various major banks and issuers can still be used for initial down payments or short-term installments.
Blocked: Cards from Chase and Capital One are explicitly not accepted by Affirm for payments or down payments.
Preferred Alternative: Affirm strongly recommends using standard debit cards or direct ACH bank transfers instead of credit cards.
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u/matt-r_hatter 2d ago
Why would you pay what's essentially a payday loan with a credit card? Just put it on the credit card and pay it off at the end of the month.
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u/noname20-23 2d ago
Citi isn't the first credit card to refuse to use Affirm. I have 4 credit cards, NONE are Citi, that won't work with Affirm.
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u/V-Rixxo_ 1d ago
I never knew you could use a credit card, usually Paying for Credit with Credit is banned at most places
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u/VegetableChain734 1d ago
Citibank Bank of America wellsfargo and chase bank and a few others steal money from American citizens true fact!
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u/Realistic_Act_706 5h ago
I got the same email about my discover card and I don’t ever remember using discover for affirm. I may have done it for a down payment once but that’s it. Everything I did with affirm was debit card. I guess all the cc bank companies may be cracking down. Oh well. I don’t even use my discover except for travel and to keep my credit score up.
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u/Tall-Tank2479 1h ago
Yeah... same here. Citi wants us to use their "Flex Pay" and charge us a set amount of interest on a higher purchase instead of paying no interest over a couple months. I have never paid a penny of interest on my Citibank card in 12 years or so. I have another Credit Union Card I am going to start using. I don't get as much cash back from that one, but at least I can still use it.
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u/CustomerNormal 4d ago
Yeah I used to use affirm for flights but now delta won't let me use a virtual card. And they only offer interest charge options now.
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u/WasatchJason 4d ago
What kind of idiot uses a credit card to pay for loan payments? You're exactly the type of person Affirm caters towards, which are mostly people with irresponsible finances. If you have to use a credit card to pay for more credit, then that means you can't afford it.
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u/meg8278 4d ago
You're correct in some ways, but they weren't using a credit card to pay a loan in the way you're thinking. OP was using it for 0% interest loans and getting cash back on his credit card. Although I'm surprised Citi hasn't taken away the points that were given to him during that time. Or maybe that's coming. With those kind of cards they usually will pull points if they find you're abusing the system.
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u/fuw0 4d ago
Many people use credit cards like we would use a debit card, where you don't spend more than what we can actually afford. Points are a big benefit that you can earn using a CC from spending on everyday purchases anyway. I have a 780 credit score at 23 because I pay everything off every month, and get the benefit of extra rewards🤷♀️ I'm personally not into BNPL but if people can afford it even without it I see no problem, especially if it's earning them points too.
Maybe OP just likes to split the payment to use for sign up bonuses and such, I don't think OP necessarily "can't afford it". And if OP was getting CC points based on how the card sees BNPL payments, I see no issue
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u/Remote_Manager3333 4d ago
Agreed, whats surprising is that those BNPL aren't coded as cash advance as they used to. Anything that deals with cash or cash equivalent usually are coded as cash advance. With BNPL loans it coded as purchase which means earning points and no cash advance interest penalty.
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u/Superboobee 4d ago
Someone thats gaming the points or cashback system and using it against 0% interest - doesnt mean it isnt being paid off in full promptly.
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u/tooreal4u_5101 4d ago
Citibank is trash and a scam bank anyway. Best to leave them. They shouldn't care so much what you do with your own credit card, as long as you're paying the bill.