Affirm Debit Cardholder and Account Agreement (Stride-issued cards)

Charges & Financial Obligations · Context

Four transaction-limit types can apply at the same time and current limits appear in the App

The Agreement describes four types of Transaction Limits — Individual, Pending, Daily and Monthly, and Pre-purchase Loan — and warns that more than one may apply at any one time. The cardholder's current Transaction Limits are shown in the Affirm App, and the applicable limits depend on how the card is used.

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There are four types of Transaction Limits: Individual Transaction Limits, Pending Transaction Limits, Daily and Monthly Transaction Limits, and Pre-purchase Loan Limits. More than one of these may apply at any one time.

Your current Transaction Limits can be found in the App.

Charges & Financial Obligations · Restriction or exception

Individual Transaction Limit is 100% of the Affirm Savings balance when Affirm Savings is linked

The Individual Transaction Limit is the amount that can be spent on a Pay in Full purchase and is displayed in the App. If the cardholder makes Affirm Savings their Linked External Account, the Individual Transaction Limit on each card transaction is 100% of Affirm Savings' External Bank Balance.

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Supporting quotations

Your "Individual Transaction Limit" is how much you can spend on a "Pay in Full"(as defined below) purchase.

your Individual Transaction Limit on the amount of each transaction you make with your Card or Card Account is 100% of your Affirm Savings' External Bank Balance.

Qualifications & exceptions

• The 100% rule applies only when Affirm Savings is the Linked External Account.

Charges & Financial Obligations · Restriction or exception

Other linked bank accounts: the lesser of $50 or 50% of the balance, reviewed over 30 days

If the cardholder links a bank account other than Affirm Savings, the Individual Transaction Limit is the lesser of $50 or 50% of the External Bank Balance, although the cardholder may have a higher limit per Affirm's communication. The Bank reviews the last thirty days of card transactions and external balance data to set the subsequent limit, and may lower the limit to protect account and system security or when it believes an ACH debit would fail.

Supporting quotations

your Individual Transaction Limit is the lesser of (i) $50 or (ii) 50% of your External Bank Balance.

We review your Card transaction history and External Bank Balance data over the last thirty days to determine your subsequent Individual Transaction Limit.

we may lower your Individual Transaction Limit in order to protect the security of your account and our systems and if we have reason to believe an ACH debit from your Linked External Account would fail.

Qualifications & exceptions

• An initial limit may be higher than the formula, as stated in Affirm's communication.
• The Bank may lower the limit based on its review or belief that an ACH debit would fail.

Charges & Financial Obligations · Restriction or exception

Backup Protection Limit is capped at $300

A cardholder who is eligible for and enrolls in Backup Protection has a Backup Protection Limit set by the same rules described above, but the Backup Protection Limit is capped at a maximum of $300.

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Supporting quotations

your Backup Protection Limit will be capped at a maximum of $300.

Charges & Financial Obligations · Procedure

Pending Transaction Limit equals the Individual Transaction Limit minus pending transactions

The Pending Transaction Limit is the Individual Transaction Limit reduced by any pending transactions. Transactions funded by a Pre-purchase Loan are not counted as pending transactions for this calculation. Pending transactions can be viewed in the App.

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Your "Pending Transaction Limit" equals the Individual Transaction Limit reduced by any pending transactions.

Transactions made using the proceeds of any Loan you obtained from a Lender through the App prior to making the transaction ("Pre-purchase Loan") are not considered pending transactions for the purpose of calculating your Pending Transaction Limit.

Charges & Financial Obligations · Restriction or exception

Pay in Full transactions: $1,500 daily and $15,000 monthly limits, with further limits possible

For Pay in Full transactions — transactions that result in one or more debits to the Linked External Account equal to the entire transaction, excluding card transactions funded by a Loan — the Card and Card Account have a $1,500 daily limit and a $15,000 monthly limit. The amount currently available for Pay in Full purchases is shown in the App. Further limits may exist and are described as designed to be flexible to protect the security and integrity of the service and accounts.

Supporting quotations

your Card and Card Account has a $1,500 daily and a $15,000 monthly limit.

Further limits may exist and are designed to be flexible in order to protect the security and integrity of the service and accounts.

Charges & Financial Obligations · Permission or license

Pre-purchase Loan Limit: up to $30,000 per loan and $30,000 per month in matched transactions

If a cardholder obtains a Pre-purchase Loan and the loan is successfully matched to the next card transaction, the transaction limit may exceed the other limits up to the loan amount. Pre-purchase Loans cannot exceed $30,000 in aggregate, and card transactions associated with Pre-purchase Loans cannot exceed $30,000 in a month. Each loan must be applied for and approved separately and may require a downpayment. When the loan amount is at least the transaction amount and the transaction is successfully associated with the loan, the transaction is not debited from the Linked External Account; the cardholder repays the loan under the separate Loan Agreement.

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excluding any Card transaction for which you apply for and obtain a Loan from a Lender through the Affirm mobile application ("App" or "Affirm App")

your transaction limit for your next Card transaction may exceed the above limits, up to the amount of the Loan, which cannot, in aggregate, exceed $30,000, and the Card transactions associated with Pre-purchase Loans cannot exceed $30,000 in a month (the "Pre-purchase Loan Limit").

You must apply and be approved for each Loan separately in the App, and approval for each loan is subject to eligibility and may require a downpayment.

Provided that the Pre-Purchase Loan amount is greater than or equal to the entire amount of your Card transaction and the transaction is successfully associated with the Loan as described above, the amount of the transaction will not be debited from your Linked External Account.

Qualifications & exceptions

• Applies only when a Pre-purchase Loan is successfully matched to the card transaction.
• Enrollment in an Optional Planning Feature requires a separate Program Agreement.

Not stated here

• The Loan Agreement with the Lender, including interest and repayment terms, is not supplied.

Charges & Financial Obligations · Permission or license

Card use authorizes debits from the Linked External Account, including later settlement adjustments

By linking a Linked External Account and using the Card, the cardholder authorizes the Bank to initiate one or more electronic debits from that account up to the amount of the card transaction and to transfer the funds to the Card Account. A Linked External Account is an external bank account linked to the Card Account, which may include an account linked for Backup Protection. If the authorized amount changes on final settlement — for example, a restaurant tip — the cardholder immediately authorizes debits or credits for the adjustment on or after the adjustment or settlement date. If Loan proceeds do not cover the transaction, the cardholder authorizes a debit for the difference.

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A "Linked External Account" is an external bank account linked to your Card Account, which may include any external account linked in connection with Backup Protection.

you authorize us to initiate one or more electronic debits from your Linked External Account for up to the amount of the Card transaction you authorize, and transfer those funds to your Card Account.

You immediately authorize us to debit or credit your Linked External Account and Card Account for the amount of the adjustment or difference, on or after the date of the adjustment or final settlement of the transaction.

If you use the proceeds of a Loan to pay for a Card transaction, and the proceeds do not cover the total amount of the transaction, you authorize us to debit your Linked External Account for the difference between the amount of the Card transaction and the Loan proceeds deposited in your Card Account.

Qualifications & exceptions

• Applies unless a Lender has originated a Loan as described in Section I.B., or Affirm Savings is the only Linked External Account under Section I.C.

Charges & Financial Obligations · Company practice

A failed ACH transfer reduces the Individual Transaction Limit to $0 until the failed transactions are paid

If an incoming ACH or other transfer or deposit from a Linked External Account to the Card Account fails for any reason, the Bank will reduce the Individual Transaction Limit to $0.00 until the cardholder successfully pays for all failed transactions. After that, provided the Card Account balance is not negative, the Individual Transaction Limit and Pending Transaction Limit will be as low as $50 until the Bank notifies the cardholder in the App that the limits have been increased.

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we will reduce your Individual Transaction Limit to $0.00 until you successfully pay for all failed transactions.

your Individual Transaction Limit and Pending Transaction Limit will be as low as $50 until we notify you in the App that we have increased the Individual Transaction Limit and Pending Transaction Limit.

Charges & Financial Obligations · Permission or license

The Bank may change limits at its sole discretion and may keep some limits undisclosed for security

The Bank may increase or decrease the Transaction Limits or any other limit on the Card or Card Account at its sole discretion. If it imposes stricter limits on the dollar amount, type or frequency of transactions beyond those stated in the Agreement, it will notify the cardholder as required by applicable law. Other limits on the amount, type and frequency of transactions may not be disclosed, and changes to them may not be disclosed, for security purposes unless required by law.

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We may also increase or decrease your Transaction Limits or any other limit on your Card or Card Account at our sole discretion.

If we impose stricter limits on the dollar amount, type, or frequency of transaction you can make with your Card or Card Account other than those stated in this Agreement, we will notify you as required by applicable law.

we may not disclose these limits, or changes to these limits, to you for security purposes, unless required by law.

Qualifications & exceptions

• Notice of stricter limits is required only as applicable law requires.
• Undisclosed limits are permitted for security unless the law requires disclosure.

Charges & Financial Obligations · Context

The Card Account pays no interest and requires no minimum balance

The cardholder will not earn interest on the Card Account, and no minimum balance is required in the Card Account.

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Supporting quotations

You will not earn any interest on the Card Account.

There is no minimum balance required in your Card Account.

Charges & Financial Obligations · Company commitment

No mandatory card fees from the Bank; third-party and optional program fees are separate

The Bank states that it will not charge any fees for using the Card or Card Account. Fees charged by the financial institution holding the Linked External Account, by a Lender, or by other parties are outside this Agreement, and optional fee-based programs offered through Affirm are not the Bank's responsibility. The Agreement points to its Fee Schedule and Section III for third-party fees.

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We will not charge you any fees for using your Card or Card Account.

There may be optional fee-based programs available to you through Affirm, and the Bank is not responsible for such fees.

Please see the Fee Schedule and Section III for more information about third-party fees.

Qualifications & exceptions

• The statement covers Bank fees for the card; it does not cover third-party, Lender or optional Affirm program fees.

Charges & Financial Obligations · Restriction or exception

Pre-purchase Loan Limit is a monthly aggregate: a $25,000 loan leaves only $5,000 more that month

The Agreement illustrates the monthly cap with dates in May. After a $25,000 Pre-purchase Loan is approved and matched to a purchase on May 3, no further loans exceeding $5,000 can be approved for the rest of the month, because $5,000 is what remains of the $30,000 Pre-purchase Loan Limit. If a $5,000 loan is then approved and matched on May 7, no more loans can be applied for that month and the card cannot be used for a transaction associated with a Pre-purchase Loan for the remainder of the month.

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you will not be approved for any Loans for the rest of the month that exceed $5,000, which is equal to the Pre-purchase Loan Limit.

If on May 7 you apply for and are approved for a Pre-Purchase Loan for $5,000, and then make a purchase using the Card that matches the Loan, you will not be able to apply for any more Loans for the remainder of the month

Qualifications & exceptions

• The illustration assumes each loan is approved and matched to a card purchase; unmatched loans are null and void.

Charges & Financial Obligations · Procedure

Card purchases are funded by linked-account transfers or Lender loan proceeds; deposits occur only with a purchase

The Card accesses funds in the Card Account to pay for card transactions. The cardholder can fund the Card Account by accessing a Linked External Account or by applying for and obtaining a loan originated by a Lender through the App. Each loan must be applied for separately and is governed by a separate Loan Agreement. Funds may be deposited in the Card Account only when the Card is used to make a purchase, whether by authorizing a transfer from the Linked External Account or by obtaining a loan from Affirm Loan Services, LLC or its affiliate or partner financial institution (a "Lender").

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The Card accesses funds in your Card Account to pay for transactions you make with the Card.

You can fund your Card Account by accessing your Linked External Account(s) or by applying for and successfully obtaining a loan, originated by a Lender, through the App

You must apply for each Loan separately.

You may deposit funds in your Card Account only when you use the Card to make a purchase

Qualifications & exceptions

• Optional Planning Features, if eligible and enrolled, let Affirm apply for Pre-purchase Loans under a separate Program Agreement.

Charges & Financial Obligations · Permission or license

The Bank may batch card transactions into one ACH debit for the total since the last successful transfer

The Bank may batch all card and Card Account transactions since the last successful ACH transfer from the Linked External Account, and may initiate a batched debit or electronic fund transfer from that account. By using the Card, the cardholder authorizes one or more ACH debits up to the total of all card transactions since the last successful ACH transfer, less any loan proceeds deposited in the Card Account during that time.

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You can fund your Card Account by accessing your Linked External Account(s)

We may batch all of the transactions you made using your Card or Card Account since we initiated the last successful ACH transfer from your Linked External Account to your Card Account, and we may initiate a batched debit or electronic fund transfer from your Linked External Account.

By using your Card, you authorize us to initiate one or more ACH debits for an amount up to the total amount of all transactions you made on your Card since we initiated the last successful ACH transfer, less the amount of any Loan proceeds that were deposited in your Card Account during that time.

Charges & Financial Obligations · Restriction or exception

Linked-account debit authorization does not apply to Lender-funded purchases or an Affirm Savings-only setup

The authorization to debit a Linked External Account for a card transaction is subject to two carve-outs stated at the start of the paragraph: it does not apply where a Lender has originated a Loan for the purchase as described in Section I.B., or where Affirm Savings is the only Linked External Account under Section I.C. In those cases the transaction is funded under the loan or Affirm Savings rules rather than by a debit from a second linked bank account under this paragraph.

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Unless a Lender has originated a Loan to you as described below in Section I.B., or your Affirm Savings is your only Linked External Account, as described below in section I.C., by linking a Linked External Account to your Card Account in the App, and using your Card to make a transaction, you authorize us to initiate one or more electronic debits from your Linked External Account

Qualifications & exceptions

• The carve-outs depend on either a Lender loan for the purchase or Affirm Savings being the only Linked External Account.

Charges & Financial Obligations · Restriction or exception

Cardholder warrants sufficient funds regardless of the App's Pay in Full display; payment is immediate

When making purchases without a loan for the purchase amount, the cardholder represents and warrants that the Linked External Account — including a Backup Protection linked account where applicable — has sufficient funds to cover the purchase and each corresponding debit, regardless of what the App shows as available to Pay in Full. Authorization is immediate and the cardholder has no right to defer payments due on the Card Account.

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you represent and warrant that you have sufficient funds in your Linked External Account (which includes your Backup Protection Linked External Account, as Applicable) to cover the amount of the purchase (and each corresponding debit to the Linked External Account), regardless of what the App shows is available to Pay in Full.

Authorization is immediate, you have no right to defer payments due on your Card Account.

Charges & Financial Obligations · Company practice

Failed linked-account debits may be retried, delayed, or answered with a freeze or lock

If an electronic debit from a Linked External Account fails, the Bank may retry it up to two additional times within 30 days unless prohibited by law. It generally retries within 21 days of the first failure but may take up to 180 days. If a debit fails, the Bank may freeze the Card until the amount is successfully transferred to the Card Account. If the Bank believes a debit will fail, it may wait up to 21 days or until sufficient funds are available. It may lock or freeze the Card Account until the balance is brought to at least $0.00.

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we may retry the electronic debit up to two additional times within 30 days, unless prohibited by law.

We will generally retry the transaction within 21 days of the first electronic debit failure; however, we may take up to 180 days to do so.

If an electronic debit fails, we may freeze your Card until you successfully transfer such amounts from your Linked External Account to your Card Account.

we may wait to initiate the electronic debit for up to 21 days or until you have sufficient funds in one of your Linked External Accounts to cover the transfer.

We may lock or freeze your Card Account until your Card Account balance is successfully brought to at least $0.00.

Qualifications & exceptions

• Retry limits and timing are qualified by applicable law.
• The freeze or lock lasts until the transfer or balance condition is met.

Charges & Financial Obligations · Procedure

Pre-purchase loan proceeds are disbursed only after a matching card transaction is authorized within the App's window

If the cardholder obtains a Pre-purchase Loan from a Lender, the Lender disburses the proceeds into the Card Account after a merchant authorizes the next card transaction, provided the purchase is made within the communicated authorization period and matches the loan's terms, which may include transaction amount, merchant name, merchant category and other eligibility criteria disclosed by Affirm. If the cardholder does not complete the intended transaction within the authorization window shown in the App, the Lender cancels the Pre-purchase Loan and does not transfer the proceeds. When the loan amount is at least the transaction amount and the transaction is successfully associated with the loan, the transaction is not debited from the Linked External Account.

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the Lender will disburse the proceeds of the Loan into your Card Account following a merchant's authorization of the Card transaction.

If you take out a Loan and do not complete the intended transaction using your Card within the authorization window displayed in the App, the Lender will cancel the Pre-Purchase Loan and will not transfer the Loan proceeds to your Card Account.

Provided that the Pre-Purchase Loan amount is greater than or equal to the entire amount of your Card transaction and the transaction is successfully associated with the Loan as described above, the amount of the transaction will not be debited from your Linked External Account.

Qualifications & exceptions

• Disbursement depends on a merchant authorization and a successful match within the App's authorization period.
• The loan is cancelled if no eligible purchase is completed in the window.

Charges & Financial Obligations · Procedure

Post-Purchase Loans can be requested after a purchase, within the window shown in the App

Affirm may allow the cardholder to apply in the App for a Loan from a Lender after making a purchase — a Post-Purchase Loan. The recent transactions section of the App states how long the cardholder has to obtain one. Once the loan is captured, the Lender disburses the proceeds into the Card Account, and the cardholder repays the loan under the Loan Agreement, which is outside the scope of this Agreement.

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Affirm may allow you to apply in the App for a Loan from a Lender after you make a purchase ("Post-Purchase Loan").

The recent transactions section of the App will state how long you have to obtain a Post-Purchase Loan.

Once the Loan is captured, the Lender will disburse the proceeds of the Loan into your Card Account and you will be responsible for repaying the Loan in accordance with your Loan Agreement, which is outside the scope of this Agreement.

Qualifications & exceptions

• The application window is stated in the App, not fixed by this Agreement.

Not stated here

• The Loan Agreement's interest, fees and repayment terms are not supplied.

Charges & Financial Obligations · Company practice

Merchant signals (category code, merchant ID, capture amount and timing) link a transaction to a loan and can fail

Signals from the merchant are used to associate card transactions with Loans. Successful association depends on factors such as merchant category code, merchant ID, how much the merchant captures and by when. A transaction may fail to associate with the intended loan; the cardholder is told to contact Affirm between 7 am and 10 pm Central time, 7 days a week, at (855) 423-3729. Affirm or the Lender is responsible for notifying the Bank of the associated loan disbursement, and the Bank is not responsible for signal failures caused by the merchant, Affirm or a provider of the loan.

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Signals from the merchant are used to associate Card transactions to Loans.

Successful association depends on factors such as merchant category code (MCC), merchant ID (MID), how much the merchant captures and by when.

It is possible that signals from the merchant result in a Card transaction not being associated with the intended Loan.

Affirm or the Lender is responsible for notifying Bank of the associated Loan disbursement, and the Bank is not responsible for any signal failures caused by merchant, Affirm or a provider of the Loan.

Qualifications & exceptions

• Matching depends on merchant-controlled signals, so an intended loan match is not guaranteed.

Charges & Financial Obligations · Restriction or exception

Tips or increases on a loan-funded purchase can debit the linked account or decline the card

If a transaction associated with a Loan is adjusted after the purchase — for example, a restaurant tip — and the cardholder has a Linked External Account, the cardholder authorizes one or more electronic debits from that account for the increase. Without a Linked External Account, if the merchant's authorization exceeds the loan proceeds available or the transaction would exceed a card or Card Account limit, the card may be declined. The Agreement advises including all fees, tips and taxes in the loan request to avoid a decline.

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If a debit transaction associated with a Loan is adjusted for any reason (e.g., restaurant tips) after you have made a Card purchase, and you have a Linked External Account, you authorize us to initiate one or more electronic debits from your Linked External Account in the amount of any increase in the transaction amount.

If you do not have a Linked External Account, and the amount of the authorization the merchant places on your Card exceeds the amount of Loan proceeds available to you for that transaction, or the transaction would cause you to exceed any limit that applies to your Card or Card Account, your Card may be declined.

To help ensure your Card is not declined, be sure to include all fees, tips, taxes, etc. in the amount of your Loan request in the App.

Qualifications & exceptions

• The adjustment debit rule applies when a Linked External Account exists.
• A decline is possible where there is no linked account and the authorization or limit is exceeded.

Charges & Financial Obligations · Restriction or exception

An unmatched Pre-purchase Loan becomes void; the purchase is declined or processed as Pay in Full

If the cardholder does not make an eligible card purchase within the authorization period in the App, the Pre-purchase Loan is null and void. If the related card transaction is not matched to the Pre-purchase Loan and captured before that period ends, the transaction is either declined or processed as a Pay in Full transaction, if the cardholder has a Linked External Account and the transaction is below the Individual Transaction Limit. A loan can be cancelled in the App before the authorization period expires.

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If you do not make an eligible Card purchase within the authorization period set forth in the App, then your Loan will be null and void, and if your Card transaction related to the Pre-Purchase Loan is not matched to a Pre-Purchase Loan and captured before the authorization period associated with the Pre-Purchase Loan, your Card transaction will either be declined or be processed as a Pay in Full transaction (if you have a Linked External Account and the transaction is below your Individual Transaction Limit).

If you wish to cancel a Loan prior to the expiration of the authorization period, you can do so in the App.

Qualifications & exceptions

• Processing as Pay in Full requires a Linked External Account and a transaction below the Individual Transaction Limit.

Charges & Financial Obligations · Permission or license

Optional Planning Feature authorizes Affirm to obtain Pre-purchase Loans without a separate application for each

Loans are not offered by the Bank and are subject to Lender approval. If the cardholder enrolls in an Optional Planning Feature, they authorize Affirm to apply for one or more Pre-purchase Loans on their behalf, to be originated by a Lender, without manually completing a separate loan application for each loan. The feature is governed by a separate Program Agreement.

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Loans are not offered by the Bank and are subject to approval of the Lender.

you authorize Affirm to apply for one or more Pre-purchase Loans for you, to be originated by a Lender, without requiring you to manually complete a separate loan application for each Loan, as described in the separate Program Agreement that governs that Optional Planning Feature.

Qualifications & exceptions

• The authorization requires separate enrollment and a Program Agreement.
• Each loan remains subject to Lender origination and approval.

Not stated here

• The Program Agreement for the Optional Planning Feature is not supplied.

Charges & Financial Obligations · Permission or license

Linking Affirm Savings authorizes transfers from it up to the card transaction amount

Unless a Lender has originated a Loan for the purchase, making Affirm Savings the Linked External Account and using the Card authorizes transfers from Affirm Savings to the Card Account up to the amount of the card transaction the cardholder authorizes. A Linked External Account is an external bank account linked to the Card Account, which may include an account linked for Backup Protection.

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A "Linked External Account" is an external bank account linked to your Card Account, which may include any external account linked in connection with Backup Protection.

Unless a Lender has originated a Loan to you as described above in Section I.B., by making your Affirm Savings your Linked External Account and using your Card to make a transaction, you authorize transfers from your Affirm Savings to your Card Account, up to the amount of the Card transaction you authorize.

Qualifications & exceptions

• The authorization is subject to the Section I.B. Lender-loan carve-out and to the amount of the card transaction authorized.

Charges & Financial Obligations · Company practice

Affirm Savings purchases place an immediate hold for up to 48 hours or until the merchant finalizes

When Affirm Savings is the Linked External Account, a hold is placed on the funds immediately for up to 48 hours or until the merchant finalizes the purchase, whichever happens later. A Post-Purchase Loan approved in the App lifts the hold. Merchants generally finalize shortly after a purchase but may take up to 30 days, and some purchase types can be held longer. During the hold the cardholder does not have access to the preauthorized or held amount.

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When you make purchases and your Affirm Savings is your Linked External Account, a hold will be placed on the funds in your Affirm Savings immediately for up to 48 hours or until the merchant finalizes your purchase, whichever happens later.

If you apply for and are approved in the App for a Post Purchase Loan, the hold will be lifted.

it could take up to 30 days for a purchase to be finalized. For some types of purchases a hold may be placed for a longer period.

During the hold period, you will not have access to the preauthorized or held amount.

Qualifications & exceptions

• Merchant finalization can extend the hold beyond 48 hours, up to 30 days or longer for some purchase types.
• An approved Post-Purchase Loan lifts the hold.

Charges & Financial Obligations · Procedure

Backup Protection links a second account to cover a Pay in Full purchase above the Affirm Savings balance

Backup Protection is an optional service for eligible cardholders who have linked Affirm Savings. It lets the cardholder link a second Linked External Account as a backup payment method when a Pay in Full purchase exceeds the External Bank Balance in the primary Linked External Account (Affirm Savings). There is no fee, and it is stated not to be overdraft protection. In the Agreement's example, a $150 transaction with $50 in Affirm Savings and at least $100 in the backup account results in a $50 debit from Affirm Savings and a $100 debit from the backup account, subject to the limits described above.

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"Backup Protection" allows you (if you are eligible and have your Affirm Savings linked to your Card Account) to link a second Linked External Account as a backup payment method ("Backup Protection Account"), in the event your Pay in Full purchase exceeds the External Bank Balance in your "Primary Linked External Account" (i.e., Affirm Savings).

There is no fee for this optional service. This is not overdraft protection.

For example, if you make a $150 Card transaction and have $50 in your Affirm Savings and at least $100 in your Backup Protection Account at the time the transaction settles, we will debit your Affirm Savings for $50 and will debit your Backup Protection Account for $100 for your purchase, subject to limits described above.

A "Linked External Account" is an external bank account linked to your Card Account, which may include any external account linked in connection with Backup Protection.

Qualifications & exceptions

• Requires eligibility and Affirm Savings linked to the Card Account.
• The example is subject to the limits described in the transaction-limit section.

Charges & Financial Obligations · Permission or license

Turning on Backup Protection authorizes a primary-account transfer to $0 and then a backup-account transfer

If the cardholder turns on Backup Protection in the App and a card transaction exceeds the primary Linked External Account's External Bank Balance, the cardholder authorizes transfers from the primary account until its balance is $0.00 and authorizes a transfer from the Backup Protection Account to cover the remaining balance on the Card Account. The Backup Protection Limit is shown in the App, and the cardholder may turn Backup Protection off in the App.

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If you turn on Backup Protection in the App and your Card transaction is more than your Primary Linked External Account's External Bank Balance, you authorize transfers from your Primary Linked External Account until your External Bank Balance is $0.00. You also authorize a transfer from your Backup Protection Account to cover the remaining balance on your Card Account.

You can see your Backup Protection Limit in the App.

You may turn Backup Protection off of the App.

Charges & Financial Obligations · Restriction or exception

Backup Protection eligibility is monthly and may require a qualifying deposit of up to $100

To be eligible for Backup Protection, the cardholder may be required to have made a qualifying deposit of up to a maximum of $100, or have a scheduled qualifying deposit, into Affirm Savings during the current calendar month. Eligibility is determined monthly. Without a qualifying deposit, the cardholder may not be eligible the following month. If Backup Protection is on and the cardholder becomes ineligible, Affirm will notify the cardholder as applicable law requires.

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To be eligible for Backup Protection you may be required to have made a qualifying deposit up to a maximum of $100, or have a scheduled qualifying deposit, into your Affirm Savings during the current calendar month.

Eligibility for Backup Protection is determined on a monthly basis.

If you have not made a qualifying deposit, you may not be eligible for Backup Coverage the following month.

If you have Backup Protection turned on and you become no longer eligible, Affirm will notify you in accordance with applicable law.

Qualifications & exceptions

• The deposit requirement is a maximum of $100 and may vary.
• Eligibility is reassessed monthly and can lapse the following month.

Charges & Financial Obligations · Permission or license

Optional Planning Features authorize automated funding actions under a separate Program Agreement

Affirm may offer optional features under which an eligible, enrolled cardholder authorizes Affirm to take an action — such as applying for one or more Pre-purchase Loans from a Lender or otherwise selecting how a transaction is funded — without a manual action each time. While enrolled, Affirm periodically evaluates continued eligibility and, if the cardholder remains eligible, takes the automated action described in the Program Agreement for that feature, which the cardholder must agree to separately before activation. The cardholder may disable the feature at any time in the App, remains subject to this Agreement, and remains obligated on loans originated before disabling.

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you authorize Affirm to take an action – such as applying for one or more Pre-purchase Loans for you, to be originated by a Lender, or otherwise selecting how a transaction is funded – without requiring you to manually take an action each time

Affirm will periodically evaluate your continued eligibility and, if you remain eligible, will take the automated action described in the Program Agreement for that Optional Planning Feature (a “Program Agreement”), which you must agree to separately before that Optional Planning Feature is activated.

You may disable an Optional Planning Feature at any time in the App, and your Card and Card Account otherwise remain subject to this Agreement regardless of whether you are enrolled in any Optional Planning Feature and you remain obligated to the terms of any Loan originated prior to when you disable the Optional Planning Feature.

Qualifications & exceptions

• Requires separate enrollment and agreement to the applicable Program Agreement.
• Continuous eligibility is re-evaluated periodically.
• Loans originated before disabling remain binding.

Not stated here

• The Program Agreement for each Optional Planning Feature is not supplied.

Charges & Financial Obligations · Restriction or exception

Approved loan proceeds are not loaded onto the card before purchase and expire if unused

Where the cardholder is approved for a Loan in the App before making a debit purchase with the Card, the loan proceeds are not loaded onto the Card before the purchase and expire if not used within the time stated in the App.

Details not recorded for this card

Supporting quotations

In instances where you are approved for a Loan in the App before you make your debit purchase using your Card, the Loan proceeds will not be loaded onto the Card pre-purchase and will expire if not used within the amount of time set forth in the App.

Not stated here

• The exact expiration period is stated in the App, not in this Agreement.

Charges & Financial Obligations · Context

Fees from the linked-account bank or a Lender are outside this Agreement

The Agreement states that the financial institution holding the Linked External Account may charge fees outside the scope of this Agreement and the cardholder's relationship with the Bank and Service Provider. For example, a debit with insufficient balance may trigger an overdraft fee, insufficient funds fee, returned-item fee, or interest or fees on an overdraft line of credit. The Bank is not responsible for any fee charged by a Lender, and neither the Bank nor Affirm is responsible for fees charged by the linked-account institution or other parties.

Details not recorded for this card

Supporting quotations

You understand that the financial institution holding your Linked External Account may charge fees that are outside the scope of this Agreement and outside of the scope of your relationship with the Bank and Service Provider.

For example, if you authorize us to debit your Linked External Account and it does not have sufficient balance to cover the amount of the transaction, your financial institution may charge you an overdraft fee, insufficient funds fee, returned-item fee, or interest or fees on an overdraft line of credit you may have.

Bank is not responsible for any fee charged by a Lender.

Qualifications & exceptions

• These are third-party fees, not Bank fees for the Card or Card Account.

Charges & Financial Obligations · Permission or license

The card can be used wherever Visa is accepted and each use authorizes reducing the account balance

Subject to the Agreement's limitations, the cardholder may use the Card and Card Account to purchase goods or services wherever Visa is accepted, and to receive transfers of funds to fund card transactions. Each card use authorizes the Bank to reduce the value available in the Card Account by the transaction amount and to initiate any other electronic fund transfers contemplated by the Agreement.

Details not recorded for this card

Supporting quotations

you may use your Card and Card Account, as applicable, to purchase goods or services wherever your Card brand (Visa) is accepted, and to receive transfers of funds for the purpose of funding transactions made with your Card.

Each time you use your Card, you authorize us to reduce the value available in your Card Account by the amount of the transaction and to initiate any other electronic fund transfers contemplated hereunder.

Charges & Financial Obligations · Context

Transaction limits apply as set forth in the Agreement and are detailed on its first page

Transaction limits apply to the Card and Card Account as set forth in the Agreement. The first page of the Agreement holds more detail on the Transaction Limits, and the App shows the current amounts available to spend.

Details not recorded for this card

Supporting quotations

Transaction limits apply to your Card and Card Account as set forth in this Agreement.

Please see the first page of this Agreement for more details on your Transaction Limits.

Charges & Financial Obligations · Restriction or exception

ATM and Cashback limits: $400 daily, $1,500 weekly, 3 per day and 7 per week

Subject to the Transaction Limits, ATM and Cashback withdrawals have a $400 daily limit and a $1,500 weekly limit. The cardholder is limited to 3 withdrawals in a 24-hour period and 7 withdrawals in a 7-day period. Withdrawals can only draw up to the Affirm Savings available balance, and each withdrawal authorizes a debit of the Linked External Account for that amount. Individual merchants may set different Cashback limits at a single time or location.

Details not recorded for this card

Supporting quotations

you will also have a daily limit of $400 and a weekly limit of $1500.

You will be limited to 3 withdrawals in a 24 hour period and 7 withdrawals in a 7 day period.

You can only withdraw up to your Affirm Savings available balance.

For each ATM and Cashback withdrawal, you authorize us to debit your Linked External Account for the amount of such transaction.

Please note that each merchant may establish limits as to how much Cashback, if any, you may obtain at a single time or through a single location that are different from the limits stated in this Agreement.

Qualifications & exceptions

• Withdrawals are subject to the Transaction Limits and to the Affirm Savings available balance.
• Individual merchants may impose their own Cashback limits.

Charges & Financial Obligations · Restriction or exception

Loans cannot fund ATM or Cashback withdrawals, and an open loan may cause a decline

The cardholder cannot apply for Loans for an ATM or Cashback transaction. If a Loan was obtained in the App before a purchase and is still open, any attempt to obtain Cashback or use an ATM may be declined.

Details not recorded for this card

Supporting quotations

You will not be able to apply for Loans for an ATM or Cashback Transaction.

If you apply for and obtain a Loan in the App prior to a purchase, and that Loan is still open, any attempt to get Cashback or use an ATM may be declined.

Charges & Financial Obligations · Context

No Bank or Affirm fee for ATM withdrawals; the ATM operator may charge one

Neither the Bank nor Affirm charges a fee for ATM withdrawals. The owner or operator of an ATM may charge a fee, determined by that owner or operator. That fee is not charged by the Bank or Affirm but may appear on Affirm Savings and Card Account periodic statements.

Details not recorded for this card

Supporting quotations

Neither the Bank nor Affirm charges a fee for ATM withdrawals.

However, the owner or operator of an ATM may charge a fee for using its ATM.

Although this fee is not charged by us, you may see the fee charged by the ATM on your Affirm Savings and Card Account periodic statements.

Charges & Financial Obligations · Procedure

Foreign-currency purchases are settled in U.S. dollars with Visa exchange charges and possible declines

All debits to the Card Account post in U.S. dollars. If a merchant charges the Card in another currency, the Bank may decline the transaction or authorize it subject to the Agreement and applicable network rules. The Bank charges U.S. dollars based on the exchange rate on the day it settles the transaction, plus any special currency exchange charges imposed by Visa USA Inc. and/or a third party used to complete the transaction. Visa converts currency using either the government-mandated exchange rate or the rate it selects under its policies, effective one day before the conversion date. Because of charges and rate differences between settlement and initiation, a foreign transaction may cost more or less than the purchase price at the time it was made, and the cardholder agrees to pay the converted charges.

Details not recorded for this card

Supporting quotations

All debits to your Card Account will be posted in U.S. dollars.

If a merchant charges your Card or Card Account for a transaction denominated in any other currency, we may decline the transaction, or may authorize it subject to the conditions hereunder.

We will charge you in U.S. dollars based on the exchange rate on the day we settle the transaction, plus any special currency exchange charges that may be imposed by Visa USA Inc. and/or by any third-party used to complete the transaction.

Because of the special charges and possible differences in exchange rates between the time we settle and the time you initiated the transaction, the charge for a foreign transaction may be less than or greater than the purchase at the time it was made.

You agree to pay charges for the converted transaction amounts in accordance with the terms of this paragraph.

Qualifications & exceptions

• The Bank may decline a foreign-currency transaction or authorize it subject to network rules.
• The final charge depends on the settlement-date exchange rate and Visa/third-party charges.

Charges & Financial Obligations · Context

Card-not-present transactions have the same legal effect as presenting the card, but may be limited

If the cardholder initiates a transaction without presenting the Card — such as a mail order, internet or telephone purchase or an ACH debit — the legal effect is the same as using the Card itself. For security reasons, the amount or number of such transactions may be limited.

Details not recorded for this card

Supporting quotations

If you initiate a transaction without presenting your Card (such as for a mail order, internet or telephone purchase or an ACH debit), the legal effect will be the same as if you used the Card itself.

For security reasons, the amount or number of such transactions you may make may be limited.

Charges & Financial Obligations · Permission or license

Limits are reviewed periodically and may change based on account history and activity at the Bank's discretion

The Bank may modify the limits on the Card and Card Account from time to time at its discretion, and will notify the cardholder of changes to the extent applicable law requires and in the manner the law provides. Card limits are subject to periodic review and may change based on the cardholder's account history, activity and other factors, including card activity. The Bank retains sole discretion to apply and change limits.

Details not recorded for this card

Supporting quotations

We may, at our discretion, modify the limits on your Card and Card Account from time to time.

To the extent required by applicable law, you will be notified of any change in these limits in the manner provided by applicable law.

Card limits are subject to periodic review and may be changed based on your Account history, activity, and other factors, including but not limited to your Card activity.

We retain sole discretion to apply and change limits.

Qualifications & exceptions

• Change notice is required only to the extent applicable law requires it.

Charges & Financial Obligations · Company practice

Deposited funds are delayed; electronic direct deposits are available the next Business Day

The Bank delays availability of funds credited to the Card Account. The delay is counted in Business Days beginning on the Business Day the Bank receives the deposit. During the delay the funds are not available and the Bank will not pay transactions using them. Funds deposited by electronic direct deposits such as ACH, and preauthorized electronic fund transfers, are available on the Business Day after the Bank receives the deposit. An electronic payment is received when the Bank has received payment in actually and finally collected funds plus the information needed to credit the Card Account.

Details not recorded for this card

Supporting quotations

Bank's policy is to delay the availability of funds credited to your Card Account.

The length of the delay is counted in Business Days (defined below in Section XXV) beginning on the Business Day we receive a deposit.

During the delay, the funds will not be available for your use, and we will not pay transactions from your Card Account using these funds.

Funds deposited by electronic direct deposits (e.g., ACH) and preauthorized electronic fund transfers will be available on the Business Day after we receive the deposit.

An electronic payment is received when the Bank has received payment in actually and finally collected funds, as well as any information necessary to credit the amount to your Card Account.

Qualifications & exceptions

• The delay is counted from the Business Day the Bank receives the deposit.
• Electronic deposits are available the next Business Day; other deposits may differ.

Charges & Financial Obligations · Restriction or exception

Longer delays apply for suspected returns, fraud, legal compliance or emergencies

Availability may be delayed longer where the Bank reasonably believes a transaction will be returned unpaid, suspects fraud or unlawful activity, needs the delay to comply with law or protect the security of the Bank or Card Account, or there is an emergency such as computer or communications failure, natural disaster, war, famine, pandemic or other act of god. In those cases funds may be delayed for a reasonable time under the circumstances. Even if funds were made available and withdrawn, the cardholder remains responsible for deposits returned unpaid and for other problems involving the deposit.

Details not recorded for this card

Supporting quotations

Availability of deposits and transfers may be delayed for a longer period of time under the following circumstances: (i) we reasonably believe a transaction will be returned unpaid; (ii) we suspect there may be fraud or unlawful activity on your Card Account; (iii) if the delay is reasonably necessary to comply with applicable law or protect the security of the Bank or your Card Account; or (iv) there is an emergency, such as a failure of computer or communications equipment, natural disaster, war, famine, pandemic, or other act of god.

In these cases, funds availability may be delayed for a reasonable amount of time under the circumstances.

Even if we have made funds available to you and you have withdrawn the funds, you are still responsible for deposits that are returned to us unpaid and for any other problems involving your deposit.

Qualifications & exceptions

• The longer delay is limited to a reasonable time under the circumstances.
• The cardholder bears responsibility for returned deposits even after withdrawal.

Charges & Financial Obligations · Procedure

Split transactions depend on merchant acceptance and can be declined if the remaining amount exceeds a limit

The cardholder can instruct a merchant to charge part of a purchase to the Card and pay the rest with cash or another card — a split transaction. Some merchants do not allow split transactions, and some allow them only if the remaining amount is paid in cash. If the cardholder fails to tell the merchant about the split before swiping the Card and the purchase amount exceeds the Transaction Limit or another applicable limit, the Card is likely to be declined.

Details not recorded for this card

Supporting quotations

You can instruct the merchant to charge a part of the purchase to the Card and pay the remaining amount with cash or another card.

Some merchants do not allow cardholders to conduct split transactions. Some merchants will only allow you to do a split transaction if you pay the remaining amount in cash.

If you fail to inform the merchant that you would like to complete a split transaction before swiping your Card, and the purchase amount is more than your Transaction Limit or would cause you to exceed any other limit applicable to your Card, your Card is likely to be declined.

Qualifications & exceptions

• Merchant acceptance of split transactions varies.
• The decline risk arises when the full purchase amount exceeds a card limit before the split is communicated.

Charges & Financial Obligations · Company practice

Merchant preauthorizations place a hold on the Card Account for up to 30 days

When the Card is used to purchase goods or services, the merchant may seek preauthorization. A hold is then placed on the Card Account balance for the preauthorization amount, which may differ from the actual purchase amount, until the merchant sends the final payment amount or for up to thirty days even if the purchase is not completed. During the hold the cardholder may not have access to the preauthorized amount, and the Bank is not responsible if transactions are not completed because of the hold.

Details not recorded for this card

Supporting quotations

When you use your Card to purchase goods or services, the merchant may attempt to obtain preauthorization for the transaction. If the merchant makes such a request, a "hold" is placed on your Card Account balance for the amount of the preauthorization request (which may vary in some cases from the amount of the actual purchase, depending on the merchant or purchase type), until the merchant sends the final payment amount of your purchase, or for up to thirty (30) days, even if you fail to make the purchase.

During the hold period, you may not have access to the preauthorized amount in your Card Account.

We will not be responsible if any transactions are not completed because of the hold.

Qualifications & exceptions

• The hold may last up to thirty days even if the purchase is never completed.
• The preauthorization amount may differ from the final purchase amount.

Charges & Financial Obligations · Restriction or exception

The final transaction posts even if it overdraws; some preauthorizations exceed the purchase

If the preauthorization differs from the actual transaction, the actual transaction amount is debited from the Card Account even if that makes the balance negative, and the cardholder remains responsible for negative balances. At an automated fuel dispenser, a merchant may preauthorize more than the sale price. At restaurants, hotels, car rentals and similar purchases, the merchant may preauthorize the purchase amount plus an additional amount for tips or incidental expenses. The cardholder has no right to stop payment on a purchase or payment transaction originated by card use.

Details not recorded for this card

Supporting quotations

If the preauthorization request varies from the amount of the actual transaction, the actual transaction amount will be debited from your Card Account, even if this results in your Card Account balance becoming negative.

You remain responsible for any negative balances in your Card Account.

If you use the Card at an automated fuel dispenser ("pay at the pump"), the transaction may be preauthorized by the merchant for an amount greater than the total sale price of the goods you purchase.

If you use the Card at a restaurant, a hotel, for a car rental purchase, or for similar purchases, the transaction may be preauthorized for the purchase amount plus an additional amount the merchant may require to ensure there are sufficient funds available on your Card to cover tips or incidental expenses incurred.

You do not have the right to stop payment on any purchase or payment transaction originated by use of the Card.

Qualifications & exceptions

• The final debit can create a negative balance.
• Preauthorization amounts can exceed the final purchase at fuel, restaurant, hotel and car-rental merchants.

Charges & Financial Obligations · Restriction or exception

The cardholder is fully liable for negative balances and related fees, even if the Bank previously paid such items

The cardholder agrees not to exceed the available amount in the Card Account through an individual transaction or a series of transactions, which creates a negative balance. If a transaction makes the balance negative — including a purchase where the merchant does not request authorization — the cardholder remains fully liable to the Bank for the negative balance and any corresponding transaction fees. Even if the Bank paid such items before, it is not required to do so in the future and may change its practice of paying them without notice. The Bank may determine the available balance at any time between receiving an item and returning it, need only look once to decide whether an item would cause a negative balance, and reserves the right to bill the cardholder for any negative balance.

Details not recorded for this card

Supporting quotations

You agree to not exceed the available amount in your Card Account through an individual transaction or a series of transactions (creating a "negative balance").

Nevertheless, if any transaction causes the balance in your Card Account to go negative, including any purchase transactions where the retailer or merchant does not request authorization, you shall remain fully liable to us for the amount of any negative balance and any corresponding transaction fees.

Even if we have paid these items before, we are not required to do it in the future. We can change our practice of paying these items on your Card Account without notice to you.

We may determine the amount of available balance you have in your Card Account for the purpose of deciding whether to return an item for insufficient funds at any time between the time we receive the item and when we return the item or send a notice in lieu of return. We need only look at your available balance in your Card Account once to decide if the item would cause a negative available balance. We reserve the right to bill you for any negative balance.

Qualifications & exceptions

• Liability covers negative balances created without merchant authorization.
• The Bank may change its practice of paying items without notice.

Charges & Financial Obligations · Restriction or exception

A negative balance must be restored immediately; the Bank may offset deposits or debit the linked account

The cardholder is liable for any negative balance, whether caused by the cardholder or anyone else given access to the Card or Card Account. If the Bank pays a transaction that creates a negative available balance, the cardholder must immediately restore the balance to at least $0.00 and has no right to defer payment. The cardholder authorizes the Bank to use subsequent deposits to the Card Account to cure the negative balance and to debit the Linked External Account for the amount needed to restore the Card Account to $0.00. The Bank may also cancel the Card or Card Account if negative balances are created and not cured immediately.

Details not recorded for this card

Supporting quotations

you shall remain fully liable to us for the amount of any negative balance and any corresponding transaction fees.

You are liable for any negative balance, whether caused by you or any other person to whom you provide access to your Card or Card Account.

If we pay a transaction that causes a negative available balance in your Card Account, you must immediately restore the available balance to at least $0.00. You have no right to defer such payments.

You authorize us to use the money from any subsequent deposits to your Card Account to cure a negative available balance in the Card Account. You also authorize us to debit your Linked External Account for the amount necessary to restore the balance of your Card Account to $0.00.

We also reserve the right to cancel your Card or Card Account if you create one or more negative balances in your Card Account and fail to cure it immediately.

Qualifications & exceptions

• The cure obligation is immediate, with no right to defer.
• The Bank may cancel the Card or Card Account for an uncured negative balance.

Charges & Financial Obligations · Restriction or exception

A negative balance caused by anyone given access to the card is the cardholder's liability

The cardholder is liable for any negative balance on the Card Account, whether the cardholder caused it or any other person to whom the cardholder gave access to the Card or Card Account. This liability sits alongside the separate rule treating permitted use by another person as authorized use.

Details not recorded for this card

Supporting quotations

You are liable for any negative balance, whether caused by you or any other person to whom you provide access to your Card or Card Account.

Charges & Financial Obligations · Permission or license

An Optional Planning Feature may obtain Pre-purchase Loans to prevent Affirm Savings from going negative

If the cardholder enrolls in an Optional Planning Feature and a Pay Now transaction would cause the Affirm Savings balance to go negative, the cardholder authorizes Affirm to apply for one or more Pre-purchase Loans, to be originated by a Lender, without a separate manual application for each loan, as described in the separate Program Agreement governing that feature.

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Supporting quotations

If you enroll in an Optional Planning Feature described in Section I.F above, and a Pay Now transaction would cause the balance in your Affirm Savings to go negative, you authorize Affirm to apply for one or more Pre-purchase Loans for you, to be originated by a Lender, without requiring you to manually complete a separate loan application for each Loan, as described in the separate Program Agreement that governs that Optional Planning Feature.

Qualifications & exceptions

• Requires enrollment in the Optional Planning Feature and its Program Agreement.
• Each loan remains originated by a Lender.

Not stated here

• The Program Agreement for the feature is not supplied.

Charges & Financial Obligations · Procedure

Recurring card transactions require a linked account and a sufficient balance; the Bank is not responsible for declines

A cardholder who intends to use the Card for recurring transactions must have a Linked External Account and should monitor the balance and ensure sufficient funds. Recurring transactions are those authorized in advance to be charged at substantially regular intervals. The Bank is not responsible if a recurring transaction is declined because the balance was insufficient.

Details not recorded for this card

Supporting quotations

If you intend to use your Card for recurring transactions, you must have a Linked External Account and should monitor your balance and ensure you have sufficient funds to cover the transactions.

"Recurring transactions" are transactions that are authorized in advance by you to be charged to your Card at substantially regular intervals.

We are not responsible if a recurring transaction is declined because you have not maintained a sufficient balance to cover the transaction.

Qualifications & exceptions

• A Linked External Account is required for recurring card transactions.

Charges & Financial Obligations · Restriction or exception

Variable recurring payments need ten days' notice, and the Bank may refuse a recurring debit

If recurring transactions vary in amount, the recipient should tell the cardholder ten days before each payment when it will be made and how much it will be, unless the payee lets the cardholder choose notice only when the payment differs by more than a set amount or falls outside limits the cardholder sets. The Bank may refuse to pay a recurring debit, for example if the Card Account has insufficient funds or the Bank cannot verify ownership or other information about the destination account. The cardholder may call (855) 423-3729 for information about a refusal.

Details not recorded for this card

Supporting quotations

If these recurring transactions vary in amount, the recipient of the recurring transaction should inform you, ten (10) days before each payment, when it will be made and how much it will be.

You may be permitted by the payee to choose instead to get this notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set.

We reserve the right to refuse to pay a recurring debit, for example, if your Card Account has insufficient funds to cover such transfer or if we are unable to verify the ownership of or other information about the account to which the funds will be transferred.

Qualifications & exceptions

• The ten-day notice duty sits with the recipient, and the payee may offer a threshold alternative.
• The Bank's refusal right is illustrated, not limited, by the insufficient-funds and verification examples.

Charges & Financial Obligations · User right or choice

Recurring payments can be stopped with three Business Days' notice; the order may expire after six months

For recurring transactions from the Card Account, the cardholder can stop payment by submitting a request on Affirm's help site, calling (855) 423-3729, or writing to Affirm, Inc., 14039 Puritas Avenue, P.O. Box 35909, Cleveland, OH 44135, in time for the Bank to receive the request at least three Business Days before the scheduled transfer. A phone request may also need to be put in writing within fourteen days. If a stop order is given three Business Days or more before the transfer and the Bank fails to stop it, the Bank is liable for direct losses or damages. The cardholder should also contact the merchant. Stop-payment orders may expire six months after the request and must be renewed.

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Supporting quotations

you can stop the payment by submitting a request on affirm.com/help/debit or by notifying us orally at (855) 423-3729 or in writing to Affirm, Inc., 14039 Puritas Avenue, P.O. Box 35909, Cleveland, OH 44135 in time for us to receive your request at least three (3) Business Days before the scheduled date of the transfer.

If you call, we also may require you to put your request in writing and get it to us within fourteen (14) days after you call.

If you order us to stop one of these payments three (3) Business Days or more before the transfer is scheduled, we will be liable for your direct losses or damages.

If you have authorized a merchant to make the recurring transaction, you also should contact the applicable merchant in order to stop the recurring transaction.

Stop-payment orders may expire after six months from the date of your stop-payment request, and you are required to renew it in order to ensure its continued effectiveness.

Qualifications & exceptions

• The three-Business-Day timing is required for the Bank's liability for direct losses.
• A phone request may require written confirmation within fourteen days.
• Stop-payment orders may expire after six months and must be renewed.

Charges & Financial Obligations · Restriction or exception

A recurring charge during a Pre-purchase Loan window may be declined or wrongly associated with the loan

If a Pre-purchase Loan is open and a recurring transaction is charged during the loan's authorization window, the recurring transaction may be declined or may become associated with the loan. For example, a cell phone bill recurring during a grocery-loan window may be declined or inadvertently match the grocery loan. The cardholder should contact Affirm as soon as possible to match the loan correctly, and the Bank is not responsible for matching a card transaction to a loan.

Details not recorded for this card

Supporting quotations

If you take out a Pre-purchase Loan, and a recurring transaction is charged during the authorization window of that Loan, the recurring transaction may be declined or may become associated with the Loan.

If a purchase is misattributed to a Loan, please contact us as soon as possible at our help center at affirm.com/help/debit or call us at (855) 423-3729 to match the Loan correctly.

Bank is not responsible for matching a Card transaction to a Loan.

Qualifications & exceptions

• The risk applies while a Pre-purchase Loan authorization window is open.

Charges & Financial Obligations · Company practice

Refunds are credited to the Card Account, associated Loan, or linked account as Affirm determines

If the cardholder is entitled to a refund for goods or services obtained with the Card, the cardholder agrees to accept credits to the Card Account, an associated Loan, or the Linked External Account, as determined in Affirm's sole discretion, and agrees to the merchant's refund policy.

Details not recorded for this card

Supporting quotations

If you are entitled to a refund for any reason for goods or services obtained with the Card, you agree to accept credits to your Card Account, associated Loan, or Linked External Account, as determined in Affirm's sole discretion, for such refunds and agree to the refund policy of the merchant.

Qualifications & exceptions

• The destination of the credit is in Affirm's sole discretion.
• The merchant's refund policy also applies.

Charges & Financial Obligations · Procedure

A Pay in Full refund generally goes to the linked account and may be offset against pending transactions

A refund of a Pay in Full transaction is generally transferred to the Linked External Account. The amount may be offset by pending Card Account transfers the cardholder authorized from the linked account or by pending card transactions. In the Agreement's example, a $20 pending transaction and a $100 refund can result in $20 applied to the pending amount, $80 credited to the linked account and $20 credited to the Card Account. To deliver the refund, the cardholder authorizes a debit of the Card Account for the refund less any offset and a credit to the linked account on or after the date the refund is received in the Card Account.

Details not recorded for this card

Supporting quotations

If you receive a refund of a Pay in Full transaction, your refund will generally be transferred to your Linked External Account.

The amount of the refund transferred to your Linked External Account may be offset by the amount of any pending Card Account transfers you authorized from your Linked External Account or pending Card transactions.

For example, if you have a pending transaction of $20 to the Card Account from your Linked External Account and are owed a refund of $100, we may offset the transaction by $20 and credit the remaining $80 to your Linked External Account and credit your Card Account for $20.

To deliver your refund, you authorize us to debit your Card Account in the amount of the refund (less the amount of any offset) and credit that amount to your Linked External Account on or after the date your refund is received in the Card Account.

Qualifications & exceptions

• The offset applies to pending transfers or pending card transactions.
• The refund may be split between the linked account and the Card Account.

Charges & Financial Obligations · Company practice

Refunds for a returned purchase financed by a loan may be sent to the Lender to apply to the loan balance

Where the cardholder separately obtained a Loan in connection with a purchase that is returned, the cardholder agrees that the Bank may transmit the refund to the Lender to apply to the loan balance consistently with the Loan Agreement. The Bank is not involved with, or responsible for, applying the refund to a Loan. Affirm may in some circumstances let the cardholder choose how to apply the refund; if no selection is made or the refund matches no open loan, Affirm may apply it in its sole discretion thereafter or within 65 days of the refund.

Details not recorded for this card

Supporting quotations

where you separately obtained a Loan in connection with a purchase that is returned, you agree that we may transmit the refund to the Lender for it to apply your refund to the balance of the Loan in a manner that is consistent with that set forth in your relevant Loan Agreement.

The Bank is not involved with or responsible for applying your refund to a Loan.

Affirm may, in certain circumstances, give you the opportunity to tell Affirm how to apply your refund.

Affirm may apply the refund in its sole discretion thereafter or within 65 days of the refund.

Qualifications & exceptions

• Application to the loan is governed by the Loan Agreement.
• Affirm may apply the refund at its discretion if no selection is made or no loan matches.

Charges & Financial Obligations · Context

Returns and merchant disputes follow the merchant's policy; the Bank and Affirm are not responsible for the goods

Exchange or return of goods or services purchased with the Card is governed by each merchant's procedures and policies and applicable law, which may include a return, shipping or restocking fee. Neither the Bank nor Affirm is responsible for the delivery, quality, safety, legality or other aspects of goods or services purchased from others with the Card. If there is a problem with a purchase or a dispute with the merchant, the cardholder should first seek to resolve it directly with the merchant.

Details not recorded for this card

Supporting quotations

The exchange or return of goods or services purchased in whole or in part with the Card will be governed by the procedures and policies of each merchant and applicable law, which may include a return, shipping, or restocking fee.

Neither the Bank nor Affirm is responsible for the delivery, quality, safety, legality, or any other aspects of the goods or services you purchase from others with the Card.

If you have a problem with a purchase you made with the Card, or if you have a dispute with the merchant, you should seek to resolve it directly with the merchant first.

Qualifications & exceptions

• Merchant policies and applicable law govern returns and may add fees.
• The cardholder is directed to resolve purchase disputes with the merchant first.

Charges & Financial Obligations · Restriction or exception

Card purchases use Card Account funds, not loan proceeds, and refunds may take up to ten days to become available

Goods and services purchased with the Card are obtained using funds in the Card Account, not the proceeds of any Loan. The handling of merchant refunds to the Card is governed by the Agreement and not by a Loan Agreement unless consistent with the Agreement. Amounts credited to the Card Account or linked account for refunds may not be available for up to ten days from the date the refund transaction occurs.

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Supporting quotations

You understand and agree that all goods and services you purchase with your Card are obtained using funds in your Card Account, and are not obtained using the proceeds of any Loan.

The handling of refunds issued by the merchant to your Card are governed by this Agreement and not by the terms of any Loan Agreement you enter into, unless consistent with the terms hereunder.

The amounts credited to your Card Account or Linked External Account for refunds may not be available for up to ten (10) days from the date the refund transaction occurs.

Qualifications & exceptions

• The ten-day availability period runs from the refund transaction date.
• Refund handling follows the Card Agreement, not the Loan Agreement, unless consistent.

Charges & Financial Obligations · Context

The Bank provides no rewards; Affirm's rewards are separate and not the Bank's responsibility

The Bank does not provide rewards in connection with the Card or Card Account. Affirm may provide rewards independent of the Bank under Rewards Terms between the cardholder and Affirm. Affirm's rewards are not provided by the Bank, the Bank does not control Affirm's rewards program, and the cardholder agrees not to hold the Bank liable for issues arising from participation in that program.

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Supporting quotations

The Bank does not provide rewards in connection with your Card or Card Account.

Affirm may provide you with rewards independent of the Bank and subject to terms and conditions between you and Affirm ("Rewards Terms").

Rewards provided by Affirm are not provided by the Bank and the Bank does not control the rewards program offered by Affirm.

You agree not to hold the Bank liable for issues that may arise from your participation in the Affirm rewards program.

Qualifications & exceptions

• Any rewards are governed by separate Rewards Terms with Affirm.

Charges & Financial Obligations · Company commitment

Core card, account, purchase and customer-service fees are all $0.00

The fee schedule lists every core card and account fee at $0.00: card purchase, card activation, account registration, monthly, weekly, POS PIN debit purchase, POS signature purchase, declined POS PIN purchase and declined POS signature purchase.

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Supporting quotations

ALL FEES AMOUNTS

Card Purchase Fee $0.00

Card Activation Fee $0.00

Account Registration Fee $0.00

Monthly Fee $0.00

Weekly Fee $0.00

POS PIN Debit Purchase $0.00

POS Signature Purchase $0.00

POS PIN Purchase (Declined) $0.00

POS SIG Purchase (Declined) $0.00

Charges & Financial Obligations · Company commitment

ATM, service, inactivity, NSF, closing and replacement fees are all $0.00; an ATM operator may charge separately

The fee schedule lists the following at $0.00: US ATM withdrawal, declined ATM withdrawal, automated-system customer service, live-agent customer service, inactivity, insufficient funds/NSF, closing the card and replacing the card. For the US ATM withdrawal row, the Agreement notes that neither the Bank nor Affirm charges an ATM withdrawal fee, but the ATM owner or operator may charge one, with the amount set by that owner or operator.

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Supporting quotations

ATM Withdrawal (US)

Neither the Bank nor Affirm charges a fee for ATM withdrawals. However, the owner or operator of an ATM may charge a fee for using its ATM. Any such fee is determined by the ATM owner or operator.

ATM Withdrawal (Declined) $0.00

Automated System Customer Service $0.00

Live Agent Customer Service Fee $0.00

Inactivity Fee $0.00

Insufficient Funds/NSF Fee $0.00

Close Card $0.00

Replace Card $0.00

Qualifications & exceptions

• The $0.00 ATM row does not prevent the ATM owner or operator from charging a fee.

Charges & Financial Obligations · Context

Optional fee-based programs through Affirm are governed by a separate agreement

Optional fee-based programs available through Affirm are subject to a separate agreement. They are not part of the Bank's card fee schedule.

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Supporting quotations

There may be optional fee-based programs available to you through Affirm that are subject to a separate agreement.

Qualifications & exceptions

• The separate program agreement is not supplied.