Shopping with aFfirm

Last week on The Mod Little Melanin, I shared some of my favorite places to shop for designer items below retail value. This week I’ll be sharing the method I use to pay for my designer purchases, and that method is Affirm! ​

Affirm is a financial technology company that operates as a financial lender of installment loans for consumers to use at the point of sale to finance a purchase. Basically, they provide a loan on a virtual credit card for consumers to use to pay for their purchase. The consumer is then responsible for paying the loan back in payment installments. There is also a small interest fee attached to the loan. To date, I haven’t paid more than $20 to $30 in interest. 

There are a few different payment plans to pay back your loan. You can chose to pay on your loan in either three month, six month, or twelve month equal installments. I always chose the twelve month repayment option to allow myself the most time to repay the loan, and to have the lowest monthly payment. For example, if you purchase something from The Real Real for $745.00, your monthly installments can be as low as $66.00 per month. The amount of interest you pay on the loan stays the same regardless of the repayment option you select. 

The best part is that you can use Affirm at ANY online store, even if they don’t offer Affirm at check out! To pay at a store that doesn’t offer Affirm at checkout, simply make a purchase through the app, and select the option to use a one-time virtual card at checkout. 

Happy Shopping! 

- Chelsea Nicole, The Mod Little Melanin