I forget if it was afterpay or affirm that I tried using once to see how it worked, but it turns out I just cannot because I froze my credit reports, whoops.
I've worked in payments for 7+ years and companies like Affirm irk the shit out of me. Mostly boils down to "free money" for wealthy, credit strong individuals and another vehicle to eat double digit interest loans for others for consumables they don't even need.
I'm mixed on this. I think this is somewhat true, but I also think they're marginally better than predatory landing in that the interest rates only hit if you don't pay, whereas Rent a Center for example I think you start incurring interest right away.
“(along with completely normal business human Peter Thiel)“
i lol’d
Amazing article! As usual.
I forget if it was afterpay or affirm that I tried using once to see how it worked, but it turns out I just cannot because I froze my credit reports, whoops.
They do a "soft" credit check so in theory it shouldn't matter but I'm not sure how exactly it works.
I've worked in payments for 7+ years and companies like Affirm irk the shit out of me. Mostly boils down to "free money" for wealthy, credit strong individuals and another vehicle to eat double digit interest loans for others for consumables they don't even need.
Affirm is predatory lending with a REST API.
I'm mixed on this. I think this is somewhat true, but I also think they're marginally better than predatory landing in that the interest rates only hit if you don't pay, whereas Rent a Center for example I think you start incurring interest right away.