.Affirm is ranked No. 23 on this year's Disruptor50 list.
Max Levchin and uses proprietary algorithms at the point of sale to determine a person's creditworthiness.
This is especially useful for folks who don't have an extensive credit history yet or fear having ongoing credit card debt. If approved, borrowers can select a 6-, 12-, or 18-month repayment period, with the monthly interest expressed in dollars, not as an interest rate. There is no compounding interest, nor does the company charge late fees.
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