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.
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.