There is no worse feeling than that of being turned down for a financial loan. We will always be in doubt as to why we have been rejected. We will always think about possible mistakes or reasons for not being given the loan.
In the case of Affirm, there are different reasons why this kind of loan is usually rejected. So if you want to make a purchase that you can’t pay for or apply for a loan, you should consider the possible reasons for rejection.
Why did Affirm deny me?
Something to keep in mind is that for you to be approved for an Affirm loan, the system must measure whether you are worthy of one. So your credit history and your banking history will be key points in this process.
But there is no doubt that the rejection of your Affirm buy now, pay later application is worrying. So here are five possible reasons why the system could be rejecting you.
Insufficient personal information
It is very common for the Affirm system to reject you either because of insufficient information or the impossibility of verifying your personal information. This is the main reason why Affirm users are usually rejected.
As we have said before, Affirm will only approve credits if it is possible to prove that you are worthy of them. So obviously, since it is impossible to check your personal information, the system has no data about you and your history.
First name, last name, address, phone number, and validated identification will be necessary for the system to verify your identity. So whenever you start this process, you should always check that the data you submit is correct.
You have recently changed some of your data
There are cases of users who recently moved or changed their last name for legal reasons and are automatically rejected by the system. In any case, the Affirm system will verify this data with your postal information.
Therefore, in case certain information does not match. Unfortunately, the system will not be able to validate your information. So, if you have moved or changed any of your last names due to marital issues, it is recommended that you correct the information.
Negative credit history or a short time using Affirm
In any case, you should keep in mind that to be approved for certain credit, you must have a positive credit balance. In case you have an old overdue payment or you have a negative balance in any of your previous credits. It is normal for Affirm’s system to reject you.
However, from Affirm’s website, you will always be able to see your eligibility for loans. So it is always worth checking your eligibility before applying for a loan. However, being rejected does not directly affect your credit history.
Likewise, you must remember that Affirm validates loans based on the user’s history with the platform. In other words, if your account is new, it is very unlikely that you will be validated for a huge loan or one that is outside the initial parameters.
Problems with your bank
Currently, not all banks are available on Affirm. So you should be aware that one possible reason for rejection is that the system does not work with your bank. Also, Affirm’s system is growing, and more and more banks are being implemented.
You can verify this information before applying for the credit or purchase service. Therefore, you can avoid rejection by checking in the system that banks work with Affirm.
System failure or overload
There are cases of users who seek to make purchases through Affirm’s pay later system and are prevented from doing so because the system is overloaded. This usually happens in shopping centers such as Walmart, which are very busy.
In this case, refresh the page and try the process again. You will know when the rejection comes from a system failure because you will see the message “Affirm not available.”
However, you can always contact the Affirm help system. They will give you a solution to the problem and explain the reason for your rejection in case it is for another reason.
“Approved and Declined Applications Pay.” Help Center Affirm, https://helpcenter.affirm.ca/ca/s/article/approved-and-declined-applications-paybright?language=en_US.
“Loan Approvals.” Help Center Affirm, helpcenter.affirm.com/s/article/loan-approvals.