News for hackers. Stuff that matters.

A comment on China's Peer-To-Peer Lenders Are Falling Like Dominoes as Panic Spreads. Parent comment

Re:China's Peer-To-Peer Lenders Are Falling Like Dominoes as... by jklinger410 on Wednesday August 01, 2018 @03:25PM (#17666065)
I tried Affirm (https://www.affirm.com/) -- I missed one payment because of a bad check from my employer and I was barred from the service permanently. Even though only a week went by between payments, and I payed off all of my loans as soon as I got paid.
[ Parent | on HN ]
Re:China's Peer-To-Peer Lenders Are Falling Like Dominoes as... by thephyber on Friday August 03, 2018 @08:44PM (#17684724)
Seems like it's clearly spelled out in their FAQs:

Q: Do I have a credit limit with Affirm?

A: Unlike a credit card, Affirm is not a revolving line of credit. While customers can take out multiple Affirm loans at once, each Affirm loan application is evaluated separately as a closed-end transaction. An application from a returning customer may be denied, however, if that customer has failed to repay other Affirm loans on time or if the customer shows excessive borrowing behavior.

[ Parent | on HN ]