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

Charges & Financial Obligations · Procedure

The Card spends funds in the Card Account, funded by a linked external account or a Lender loan

The Card accesses funds in the Card Account to pay for transactions, allowing everyday purchases of goods and services. The cardholder can fund the Card Account by accessing Linked External Accounts or by applying for and obtaining a loan originated by a Lender through the App, which is governed by a separate agreement with the Lender. Each Loan must be applied for separately. The agreement says the cardholder may deposit funds in the Card Account only when using the Card to make a purchase, either by authorizing a transfer from a Linked External Account or by obtaining a Loan through the App. Eligible cardholders may enroll in an Optional Planning Feature under which Affirm applies for Pre-purchase Loans on the cardholder's behalf without a separate manual application each time.

Supporting quotations

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, which is governed by a separate agreement between you and the Lender ("Loan").

You may deposit funds in your Card Account only when you use the Card to make a purchase, either by authorizing us to transfer funds from your Linked External Account to your Card Account or by obtaining a Loan from Affirm Loan Services, LLC, or its affiliate or partner financial institution (each, a "Lender") through the Affirm App.

If you are eligible, you may also enroll in an Optional Planning Feature described in Section I.F below, under which you authorize Affirm to apply for one or more Pre-purchase Loans for you

Qualifications & exceptions

• Loans are governed by a separate agreement with the Lender and each requires a separate application.
• Card Account deposits occur only when the Card is used to make a purchase, through a Linked External Account transfer or Loan proceeds.
• The Optional Planning Feature requires eligibility and enrollment.

Not stated here

• The separate Loan agreement is not supplied, so its repayment and interest terms are not analyzed here.

Charges & Financial Obligations · Permission or license

Linking an account authorizes ACH debits for Card purchases, including later adjustments

Except where a Lender has originated a Loan or Affirm Savings is the only Linked External Account, linking a Linked External Account and using the Card authorizes the Bank to initiate one or more electronic debits from that account up to the amount of the Card transaction and transfer the funds to the Card Account. If the authorized amount changes on final settlement, such as a restaurant tip, the cardholder authorizes the Bank to debit or credit the accounts 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. The Bank may batch transactions since the last successful ACH transfer and initiate a batched debit up to the total of those transactions less any Loan proceeds deposited during that time.

Supporting quotations

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 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

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 may initiate a batched debit or electronic fund transfer from your Linked External Account.

Qualifications & exceptions

• The authorization applies unless a Lender has originated a Loan for the purchase or Affirm Savings is the only Linked External Account.
• The authorization covers multiple debits when final settlement changes the amount, and adjustments may be debited or credited.
• If Loan proceeds are short, the difference may be debited from the Linked External Account.
• The Bank may batch transactions since the last successful ACH transfer into one debit.

Not stated here

• The block does not state the exact timing of every debit; it refers to Section VI.B for authorization holds.

Charges & Financial Obligations · Company practice

The cardholder represents sufficient funds, and failed debits can bring retries, freezes and locks

When making purchases not funded by a Loan, the cardholder represents and warrants that the Linked External Account has sufficient funds to cover the purchase and each corresponding debit, regardless of what the App shows available to Pay in Full. Authorization is immediate, and the cardholder has no right to defer payments due on the Card Account. If an electronic debit fails, the Bank may retry it up to two additional times within 30 days unless prohibited by law; it will generally retry within 21 days of the first failure but may take up to 180 days. A failed debit may cause the Bank to freeze the Card until the cardholder successfully transfers the amounts. If the Bank has reason to believe a debit will fail, it may wait up to 21 days or until sufficient funds are available, and it may lock or freeze the Card Account until the balance is at least $0.00.

Supporting quotations

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

If an electronic debit from your Linked External Account(s) fails for any reason, you understand that 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.

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

Qualifications & exceptions

• The sufficient-funds representation applies to purchases not funded by a Loan and applies regardless of the App's available-to-spend display.
• Retries are capped at two additional attempts within 30 days unless the law prohibits them; the usual retry window is 21 days, but the Bank may take up to 180 days.
• A freeze may last until the cardholder transfers the amounts; a lock or freeze may last until the Card Account balance is at least $0.00.
• The Bank may wait up to 21 days or until sufficient funds are available before initiating a debit it expects to fail.

Not stated here

• The block does not say how the Bank decides to retry or wait in a particular case.

Charges & Financial Obligations · Context

Loans come from a Lender under a separate Loan Agreement, and the Bank is not a party

Affirm may allow the cardholder to use the App to apply for and obtain a Loan from a Lender to fund the Card Account. The Bank does not provide these services, is not party to the Loan Agreement, and has no liability to the cardholder under it. The cardholder must apply for and be approved for a Loan by the Lender and enter into a separate Loan Agreement for each Loan. Obtaining or using the Card does not guarantee Loan eligibility. The Loan services are independent of the Bank's services, and the Lender is not acting as the Bank's service provider for the Loan. If a Loan is obtained, the Lender may charge interest under the Loan Agreement, and not all Card purchases may be eligible for a Loan.

Supporting quotations

Affirm may also allow you to use the Affirm App to apply for and obtain a Loan from a Lender to fund your Card Account. Bank does not provide these services. Bank is not party to, and has no liability to you under the Loan Agreement or in connection with the Loan.

You will be required to apply for and be approved for a Loan by the Lender, and enter into a separate loan agreement with the Lender in order to obtain each Loan (the "Loan Agreement").

If you obtain a Loan, the Lender may charge you interest in accordance with the Loan Agreement you enter into with the Lender. Subject to Lender eligibility requirements, not all Card purchases may be eligible for a Loan.

Qualifications & exceptions

• The Bank is not a party to the Loan Agreement and has no liability under it.
• Each Loan requires a separate application, Lender approval and a separate Loan Agreement.
• Loan eligibility is not guaranteed by obtaining or using the Card, and not all Card purchases are eligible.
• Interest and other Loan terms are set by the Lender in the separate Loan Agreement.

Not stated here

• The Loan Agreement, interest rate and Lender identity are not supplied in this saved source.

Charges & Financial Obligations · Procedure

Pre-purchase Loan proceeds are disbursed only after a matching Card transaction and cancel if unused

If the cardholder obtains a Pre-purchase Loan in the App from a Lender, the Lender disburses the Loan proceeds into the Card Account after a merchant authorizes the next Card transaction that 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. The cardholder then repays the Loan under the separate Loan Agreement outside this agreement. If the cardholder does not complete the intended transaction within the authorization window displayed in the App, the Lender cancels the Pre-purchase Loan and does not transfer the proceeds.

Supporting quotations

If you obtain a Pre-Purchase Loan in the App from a Lender, for your next Card transaction that is made within the communicated authorization period in the App and matches certain terms of the Loan, which may include transaction amount, merchant name, or merchant category and other eligibility criteria disclosed to you by Affirm, 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.

Qualifications & exceptions

• Disbursement follows the merchant's authorization of a matching Card transaction within the communicated window.
• Matching may depend on transaction amount, merchant name, merchant category and other criteria disclosed by Affirm.
• If no matching transaction occurs within the window, the Loan is canceled and no proceeds are transferred.
• Repayment is governed by the separate Loan Agreement, outside this agreement.

Not stated here

• The App's exact authorization window and the full matching criteria for a particular Loan are not stated in this block.

Charges & Financial Obligations · Procedure

Post-Purchase Loans can fund a purchase after it is made, within the App's stated window

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

Supporting quotations

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 App's recent transactions section sets the deadline for obtaining a Post-Purchase Loan.
• The Loan is repaid under the separate Loan Agreement, not this Card agreement.

Not stated here

• The actual deadline for a particular purchase is not stated in the agreement text; it appears in the App.

Charges & Financial Obligations · Company practice

Merchant signals match Card transactions to Loans, and the Bank is not responsible for matching failures

Signals from the merchant are used to associate Card transactions with Loans. Successful association depends on factors such as the merchant category code, merchant ID, how much the merchant captures, and when. Merchant signals may cause a Card transaction not to be associated with the intended Loan; if that happens, the agreement tells the cardholder to contact Affirm as soon as possible 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.

Supporting quotations

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.

If this occurs, please contact Affirm as soon as possible between 7 am and 10 pm Central time, 7 days a week at (855) 423-3729.

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

Qualifications & exceptions

• Association depends on merchant category code, merchant ID, capture amount and timing.
• The cardholder is directed to contact Affirm between 7 am and 10 pm Central time, 7 days a week.
• Affirm or the Lender, not the Bank, must notify the Bank of the associated disbursement.
• The Bank disclaims responsibility for signal failures caused by the merchant, Affirm or a Loan provider.

Not stated here

• The agreement does not give the full matching algorithm or every merchant-specific condition.

Charges & Financial Obligations · Restriction or exception

A matched Pre-purchase Loan avoids a linked-account debit, but later adjustments can still be debited

If the Pre-purchase Loan amount is at least the entire Card transaction and the transaction is successfully associated with the Loan, the transaction amount is not debited from the Linked External Account; the cardholder repays the Loan under the Loan Agreement. If a merchant authorizes an amount different from the final amount, the final amount that posts is adjusted. If a debit transaction associated with a Loan is adjusted for any reason, such as a restaurant tip, and the cardholder has a Linked External Account, the cardholder authorizes one or more electronic debits from that account for any increase. Without a Linked External Account, the Card may be declined if the merchant's authorization exceeds the Loan proceeds available or the transaction would exceed a Card or Card Account limit. The agreement advises including all fees, tips and taxes in the Loan request. If no eligible Card purchase occurs within the App's authorization period, the Loan is null and void; if the related Card transaction is not matched and captured before the period ends, the transaction is declined or processed as a Pay in Full transaction when there is a Linked External Account and the amount is below the Individual Transaction Limit. The cardholder can cancel a Loan in the App before the authorization period expires.

Supporting quotations

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.

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 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

• The no-debit result requires the Loan amount to be at least the entire transaction and successful association.
• A later increase in the transaction amount, such as a tip, can be debited from the Linked External Account even when the purchase was Loan-funded.
• Without a Linked External Account, the Card may be declined if the authorization exceeds the Loan proceeds or a limit.
• An unused Loan becomes null and void; an unmatched transaction is declined or processed as a Pay in Full transaction under the stated conditions.
• A Loan can be canceled in the App before the authorization period expires.

Not stated here

• The agreement does not state the authorization-period length for a particular Loan; it is displayed in the App.

Charges & Financial Obligations · Context

The Bank does not offer, refer, underwrite, fund or service loans, including Optional Planning Feature loans

Loans are not offered by the Bank and are subject to the Lender's approval. The Bank does not refer, underwrite, fund or service any loans related to the Optional Planning Feature. If the cardholder enrolls in an Optional Planning Feature, the cardholder authorizes Affirm to apply for one or more Pre-purchase Loans originated by a Lender without a separate manual application for each Loan, as described in the separate Program Agreement governing that feature.

Supporting quotations

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

the Bank does not refer, underwrite, fund or service any loans related to the Optional Planning Feature in any capacity

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

• Loan approval belongs to the Lender, not the Bank.
• The Bank's disclaimer covers referring, underwriting, funding and servicing Optional Planning Feature loans.
• Enrollment authorizes automated applications but remains subject to a separate Program Agreement.

Not stated here

• The Program Agreement and the Lender's loan terms are not supplied in this saved source.

Charges & Financial Obligations · Permission or license

Affirm Savings transfers fund Card transactions when it is the Linked External Account

Unless a Lender has originated a Loan, 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.

Supporting quotations

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 applies when Affirm Savings is the Linked External Account and no Lender Loan funds the purchase.
• The transfer is limited to the amount of the Card transaction the cardholder authorizes.

Charges & Financial Obligations · Company practice

Affirm Savings holds last up to 48 hours or until finalization, and force capture can zero the balance

When Affirm Savings is the Linked External Account, a hold is placed on its funds immediately for up to 48 hours or until the merchant finalizes the purchase, whichever happens later. If the cardholder applies for and is approved for a Post Purchase Loan, the hold is lifted. Merchants generally finalize shortly after purchase, but finalization can take up to 30 days, and some purchase types have longer holds. During the hold, the preauthorized or held amount is not accessible. Restaurants, hotels and car rental agencies may authorize an amount different from the final transaction, and some merchants may force capture instead of requesting a preauthorization. If a merchant captures more than the available balance, the Savings Balance becomes $0 and the Card may be locked; the cardholder can unlock it by making a payment to the Card Account in the App.

Supporting quotations

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.

Merchants will generally finalize purchases shortly after they are made; however, 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.

In the event the merchant captures more than your available balance, your Savings Balance will become $0. If this happens, your Card may be locked. To unlock your card, you can make a payment to your Card Account in the App.

Qualifications & exceptions

• The hold lasts up to 48 hours or until the merchant finalizes, whichever is later.
• A Post Purchase Loan lifts the hold.
• Finalization can take up to 30 days, and some purchase types have longer holds.
• Force capture can exceed the available balance, zero the Savings Balance and lock the Card; an App payment can unlock it.

Not stated here

• The agreement does not list which purchase types carry longer holds.

Charges & Financial Obligations · Procedure

Backup Protection is an optional second account that covers a Pay in Full purchase above the Affirm Savings balance

Backup Protection lets an eligible cardholder with Affirm Savings linked as the primary account link a second Linked External Account as a backup payment method. It applies when a Pay in Full purchase exceeds the External Bank Balance in the primary Linked External Account, which is Affirm Savings. There is no fee, and the agreement says it is not overdraft protection. In the block's example, a $150 Card 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.

Supporting quotations

"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.

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

Qualifications & exceptions

• Requires eligibility and Affirm Savings linked as the primary Linked External Account.
• The backup account is used only for the part of the purchase above the primary account's External Bank Balance.
• There is no fee for Backup Protection.
• Backup Protection is not overdraft protection.

Not stated here

• The agreement does not describe every eligibility condition in this block; later blocks add a qualifying-deposit requirement.

Charges & Financial Obligations · Permission or license

Turning on Backup Protection authorizes transfers from the primary account down to $0 and then from the backup account

Eligible customers see Backup Protection as an option in the App. If the cardholder turns it on and a Card transaction exceeds the primary Linked External Account's External Bank Balance, the cardholder authorizes transfers from the primary account until its External Bank Balance is $0, 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.

Supporting quotations

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.

You also authorize a transfer from your Backup Protection Account to cover the remaining balance on your Card Account.

You may turn Backup Protection off in the App.

Qualifications & exceptions

• The authorization applies only if the cardholder turns Backup Protection on and the transaction exceeds the primary account balance.
• Transfers from the primary account continue until its External Bank Balance is $0; the backup account covers the remainder.
• The cardholder can turn Backup Protection off in the App.

Charges & Financial Obligations · Restriction or exception

Backup Protection eligibility depends on a monthly 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 to 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 for Backup Protection the following month. If Backup Protection is on and the cardholder becomes ineligible, Affirm will notify the cardholder in accordance with applicable law.

Supporting quotations

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 qualifying deposit is up to a maximum of $100, or a scheduled qualifying deposit.
• Eligibility is determined on a monthly basis.
• A missed qualifying deposit can affect eligibility for the following month.
• Affirm promises notice if an enrolled cardholder becomes ineligible.

Not stated here

• The agreement does not define "qualifying deposit" beyond this block or state every eligibility factor.

Charges & Financial Obligations · Restriction or exception

Backup Protection does not cover ATM or Cashback withdrawals

Backup Protection is not available for ATM or Cashback withdrawals.

Supporting quotations

Backup Protection is not available for ATM or Cashback withdrawals.

Charges & Financial Obligations · Context

The Card is a debit card for an FDIC-insured Card Account, not a credit, prepaid or gift card

The Card is a debit card that accesses the Card Account at the Bank. Funds in the Card Account, if any, are FDIC-insured up to the applicable federal limit under applicable law. The cardholder can access the account by using the Card or Card Number but cannot use the Card to access credit or any Loan. The Card is not a credit card, prepaid card or gift card and may not be gifted, sold or transferred. Loan proceeds are not loaded onto the Card before a purchase and expire if not used within the time stated in the App. The Card Account bears no interest, although Loans obtained through the App may bear interest under their own agreements. There is no minimum balance to open or use the Card or Card Account.

Supporting quotations

The Card is a debit card that accesses your Card Account at the Bank. The funds in your Card Account, if any will be FDIC-insured up to the applicable federal limit, pursuant and subject to applicable law.

You cannot use the Card to access credit or any loan. The Card is not a credit card, prepaid card, or a gift card and may not be gifted, sold or transferred.

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.

The Card Account does not bear interest, though Loans applied for and approved with the App (and outside of the Card Account) may be subject to interest charges.

Qualifications & exceptions

• FDIC insurance is up to the applicable federal limit and subject to applicable law.
• The Card cannot be used to access credit or any Loan, even though Loans may fund purchases separately.
• Loan proceeds are not preloaded onto the Card and expire if unused within the App's stated time.
• The Card Account bears no interest; Loans may bear interest under separate agreements.
• There is no minimum balance for the Card Account.

Not stated here

• The agreement does not state the current federal deposit-insurance limit or the App's expiration period for a particular Loan.

Charges & Financial Obligations · Company commitment

No Bank fees for using the Card; third-party and Lender fees are separate

The Bank will not charge the cardholder any fees for using the Card or Card Account. The financial institution holding the Linked External Account may charge fees outside this agreement and outside the cardholder's relationship with the Bank and Service Provider; examples include overdraft, insufficient funds, returned-item fees, and 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 External Account's institution or any other party. A Lender may charge interest, fees and other finance charges under its agreement with the cardholder.

Supporting quotations

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

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.

Bank is not responsible for any fee charged by a Lender. Neither Bank nor Affirm are responsible for fees charged by the financial institution holding your Linked External Account under your agreement with them, or by any other party.

In addition, your Lender may charge you interest, fees, and other finance charges for your Loan, as set forth in your agreement with the Lender.

Qualifications & exceptions

• The Bank's no-fee commitment covers use of the Card and Card Account.
• The Linked External Account's institution may charge separate fees.
• The Bank is not responsible for Lender fees; neither Bank nor Affirm is responsible for other parties' fees.
• A Lender's interest, fees and finance charges are set by the separate agreement.

Not stated here

• The separate Lender agreement and the Linked External Account institution's fee schedule are not supplied in this saved source.

Charges & Financial Obligations · Permission or license

The Card can be used wherever Visa is accepted, and each use authorizes a reduction in the Card Account value

Subject to the agreement's limitations, the cardholder may use the Card and Card Account to purchase goods or services wherever the Visa brand is accepted, and to receive transfers of funds for the purpose of funding Card transactions. Each time the cardholder uses the Card, the cardholder 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.

Supporting quotations

Subject to the limitations set forth in this Agreement, 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.

Qualifications & exceptions

• Use is subject to the agreement's limitations, including transaction limits and prohibited uses.
• Visa acceptance defines where the Card can be used for purchases.
• Each use authorizes a reduction in the Card Account value and related electronic transfers.

Charges & Financial Obligations · Company practice

Linking an account authorizes balance checks and transaction-history review, and the Bank may refuse transactions

By signing up for the Card and Card Account and linking a Linked External Account, the cardholder authorizes the Service Provider to review and use transaction history and balance information and to perform balance checks on the Linked External Account. The Bank reserves the right to refuse a transaction for any reason at its sole discretion. It may restrict the types of merchants and merchant category codes where the Card can be used and may change those restrictions from time to time without notice unless required by law. It may also refuse to process any transaction it believes may violate the agreement.

Supporting quotations

By signing up for the Card and Card Account and linking your Linked External Account, you authorize Service Provider to review and use the transaction history and balance information and perform balance checks on your Linked External Account.

We reserve the right to refuse a transaction you request for any reason at our sole discretion.

We may also restrict the types of merchants and MCC codes where you may use your Card. We may change these restrictions from time to time without notice to you unless required by law.

Qualifications & exceptions

• The authorization covers transaction-history review, balance information and balance checks on the Linked External Account.
• Transaction refusal is at the Bank's sole discretion.
• Merchant and MCC restrictions may change without notice unless the law requires notice.
• The Bank may refuse a transaction it believes may violate the agreement.

Not stated here

• The agreement does not list the merchant types or MCC codes that may be restricted.

Charges & Financial Obligations · Procedure

Some cardholders with Affirm Savings linked can withdraw cash at ATMs or use merchant Cashback

Some cardholders who have Affirm Savings linked as the Linked External Account may have the ability to withdraw cash from an ATM or by using a merchant point-of-sale device, called Cashback. The cardholder cannot deposit cash at ATM machines. The App shows whether the cardholder has ATM access.

Supporting quotations

Some cardholders who have an Affirm Savings linked as their Linked External Account for the Card, may have the ability to withdraw cash from an ATM machine or by using a merchant POS device ("Cashback").

You will not have the ability to deposit cash at ATM machines.

To see if you have ATM access, please check the App.

Qualifications & exceptions

• ATM and Cashback access is available only to some cardholders and depends on Affirm Savings being linked.
• Cash deposits at ATMs are not available.
• The App is the place to check whether ATM access exists.

Charges & Financial Obligations · Restriction or exception

ATM and Cashback withdrawals have $400 daily and $1,500 weekly limits and withdrawal-count limits

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

Supporting quotations

Subject to the Transaction Limits set forth above, 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.

Qualifications & exceptions

• The $400 daily and $1,500 weekly limits apply in addition to the other Transaction Limits.
• The withdrawal-count limits are 3 in 24 hours and 7 in 7 days.
• Withdrawals are limited to the Affirm Savings available balance.
• Each ATM or Cashback withdrawal authorizes a debit to the Linked External Account.
• Merchants may impose different Cashback limits.

Charges & Financial Obligations · Restriction or exception

No Loans for ATM or Cashback transactions; an open Loan may cause a decline

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

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.

Qualifications & exceptions

• Loans cannot fund ATM or Cashback withdrawals.
• An open Pre-purchase Loan may cause an ATM or Cashback attempt to be declined.

Charges & Financial Obligations · Company commitment

Neither the Bank nor Affirm charges ATM fees, but the ATM operator may

Neither the Bank nor Affirm charges a fee for ATM withdrawals. The owner or operator of an ATM may charge a fee for using its ATM. Although the fee is not charged by the Bank or Affirm, the cardholder may see the ATM operator's fee on Affirm Savings and Card Account periodic statements.

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.

Qualifications & exceptions

• The no-fee commitment covers the Bank's and Affirm's ATM charges.
• An ATM owner or operator may charge its own fee.
• The operator's fee may appear on Affirm Savings and Card Account statements.

Not stated here

• The amount of any ATM operator fee is not stated; it is set by the operator.

Charges & Financial Obligations · Procedure

Foreign transactions post in U.S. dollars using the settlement-day exchange rate and may carry conversion charges

All debits to the Card Account are posted in U.S. dollars. If a merchant charges the Card or Card Account in another currency, the Bank may decline the transaction or authorize it subject to the agreement's conditions. The Bank charges the cardholder in 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. 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 and procedures, in effect one day before the conversion date, as applicable. Because of special charges and exchange-rate differences between settlement and initiation, the charge may be less or greater than the purchase price when made, and the cardholder agrees to pay the converted amount under this paragraph.

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.

Qualifications & exceptions

• All debits post in U.S. dollars.
• The Bank may decline a foreign-currency transaction or authorize it subject to conditions.
• The exchange rate is the rate on the day the Bank settles, plus Visa or third-party special charges.
• Visa uses a government-mandated or Visa-selected rate in effect one day before conversion.
• The final charge may differ from the purchase price because of exchange-rate movements and charges.

Not stated here

• The agreement does not state the exact special charges or the exchange rate for a particular transaction.

Charges & Financial Obligations · Company practice

The Bank may modify limits at its discretion and reviews them periodically

The Bank may modify the limits on the Card and Card Account from time to time at its discretion. To the extent required by applicable law, the cardholder 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 account history, activity and other factors, including Card activity. The Bank retains sole discretion to apply and change limits.

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

• Limit modifications are at the Bank's discretion.
• Notice is given only to the extent applicable law requires and in the manner the law provides.
• Review may consider account history, activity and other factors, including Card activity.
• The Bank retains sole discretion to apply and change limits.

Not stated here

• The agreement does not state the review schedule or the relative weight of the factors.

Charges & Financial Obligations · Company practice

Deposits to the Card Account are delayed; most electronic deposits are available the next business day

The Bank's policy is to delay availability of funds deposited to the Card Account. The delay is counted in Business Days beginning on the business day the Bank receives a deposit. During the delay, the funds are not available and the Bank will not pay transactions from 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. Availability may be delayed longer if the Bank reasonably believes a transaction will be returned unpaid, suspects fraud or unlawful activity, needs the delay to comply with law or protect security, or there is an emergency such as a computer or communications failure, natural disaster, war, famine, pandemic or other act of god; in those cases the delay may last a reasonable time under the circumstances. Even if funds have been made available and withdrawn, the cardholder remains responsible for deposits returned unpaid and other deposit problems.

Supporting quotations

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

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.

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.

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 delay is counted in Business Days from the business day the Bank receives the deposit.
• Electronic direct deposits and preauthorized electronic fund transfers are generally available the next business day.
• Longer delays may occur for expected returns, suspected fraud or unlawful activity, legal or security needs, or emergencies.
• The cardholder remains responsible for returned deposits and related problems even after withdrawal.

Not stated here

• The agreement does not state the length of the delay for every deposit type or the facts of a particular emergency.

Charges & Financial Obligations · Procedure

Split transactions depend on the merchant and may be declined if the Card portion 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, called 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 that a split transaction is intended before swiping the Card, and the purchase amount exceeds the Transaction Limit or another applicable limit, the Card is likely to be declined.

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. These are called "split transactions."

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

• The merchant must permit the split transaction.
• Some merchants require the remaining amount in cash.
• The cardholder should tell the merchant before swiping the Card.
• A Card portion above a limit makes a decline likely.

Not stated here

• The agreement does not list which merchants permit split transactions.

Charges & Financial Obligations · Procedure

Authorization holds can reserve funds for up to 30 days and the final charge may create a negative balance

When the Card is used to purchase goods or services, the merchant may seek preauthorization, placing a hold on the Card Account balance for the preauthorized amount until the merchant sends the final payment amount or for up to 30 days, even if the purchase is not completed. During the hold, the preauthorized amount may be inaccessible. The Bank is not responsible if transactions are not completed because of the hold. If the preauthorization differs from the actual transaction, the actual amount is debited even if the Card Account balance becomes negative, and the cardholder remains responsible for negative balances. At an automated fuel dispenser, the merchant may preauthorize more than the sale price. If the Card is declined but sufficient funds are available, the cardholder should pay inside with the cashier. Restaurants, hotels, car rentals and similar purchases may be preauthorized for the purchase plus an additional amount for tips or incidentals. The cardholder has no right to stop payment on a purchase or payment transaction originated by using the Card, and the block cross-references Sections I(A) through I(D) for authorized amounts that differ from the final price.

Supporting quotations

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.

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.

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

Qualifications & exceptions

• The hold may last until the merchant sends the final amount or for up to 30 days, even if the purchase is not completed.
• The actual transaction amount is debited even if it creates a negative balance, and the cardholder remains responsible for negative balances.
• Fuel, restaurant, hotel and car-rental merchants may preauthorize more than the final amount.
• The cardholder has no right to stop payment on a Card purchase or payment transaction.

Not stated here

• The agreement does not state the hold amount for a particular merchant or purchase.

Charges & Financial Obligations · Restriction or exception

A negative Card Account balance is the cardholder's liability and must be restored immediately

Each time the cardholder initiates a Card transaction, the cardholder authorizes the Bank to reduce the available funds in the Card Account by the transaction amount and to otherwise debit the Linked External Account as set out in the agreement. The cardholder agrees not to exceed the available amount through an individual transaction or series of transactions, creating a negative balance. Even so, if any transaction causes the Card Account balance to go negative, including a purchase where the retailer or merchant does not request authorization, the cardholder remains fully liable for the negative balance and any corresponding transaction fees. The Bank is not required to pay such items 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 or sending a notice in lieu of return, and need only look at the balance once to decide whether an item would cause a negative balance. The Bank reserves the right to bill the cardholder for any negative balance.

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").

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 reserve the right to bill you for any negative balance.

Qualifications & exceptions

• The cardholder agrees not to create a negative balance but remains liable if one occurs.
• Liability covers a negative balance caused by a purchase even if the merchant did not request authorization.
• The Bank is not required to pay such items in the future and may change its practice without notice.
• The Bank may look at the available balance only once when deciding whether an item would overdraw the account.
• The Bank reserves the right to bill for a negative balance.

Charges & Financial Obligations · Restriction or exception

A negative balance must be restored immediately, and the Bank can take deposits and debit the linked account

The cardholder is liable for any negative balance, whether caused by the cardholder or any other person to whom the cardholder provides access to the Card or Card Account. If the Bank pays a transaction that causes a negative available balance, the cardholder must immediately restore the available balance to at least $0.00 and has no right to defer such payments. The cardholder authorizes the Bank to use money from subsequent deposits to the Card Account to cure a negative available balance and to debit the Linked External Account for the amount necessary to restore the Card Account balance to $0.00. The Bank also reserves the right to cancel the Card or Card Account if the cardholder creates one or more negative balances and fails to cure them immediately.

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.

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

• Liability applies whether the negative balance was caused by the cardholder or by another person the cardholder allowed to access the Card or Card Account.
• The balance must be restored immediately to at least $0.00, with no right to defer.
• The Bank may use subsequent deposits and debit the Linked External Account to restore the balance.
• The Bank may cancel the Card or Card Account for an uncured negative balance.

Charges & Financial Obligations · Permission or license

An Optional Planning Feature may apply for Pre-purchase Loans when a Pay Now transaction would overdraw Affirm Savings

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

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.
• The trigger is a Pay Now transaction that would make the Affirm Savings balance negative.
• The automated applications are governed by the separate Program Agreement and a Lender's approval.

Not stated here

• The Program Agreement and the Lender's approval criteria are not supplied in this saved source.

Charges & Financial Obligations · Procedure

Recurring transactions require a linked account and sufficient funds, and variable amounts get ten days' notice

To use the Card for recurring transactions, the cardholder must have a Linked External Account and should monitor the balance and ensure sufficient funds. Recurring transactions are transactions the cardholder authorizes in advance to be charged to the Card at substantially regular intervals. The Bank is not responsible if a recurring transaction is declined because the balance is insufficient. 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. The payee may instead let the cardholder choose notice only when the payment differs by more than a certain amount or falls outside limits the cardholder sets. The Bank reserves the right to 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.

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.

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.

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

• Recurring transactions require a Linked External Account and sufficient funds.
• The Bank is not responsible for a decline caused by insufficient funds.
• Variable recurring payments should be preceded by ten days' notice from the recipient, subject to the payee's alternative notice choices.
• The Bank may refuse a recurring debit for insufficient funds or inability to verify the destination account.

Not stated here

• The agreement does not state the amount threshold or limits the cardholder may set for alternative notice.

Charges & Financial Obligations · Procedure

Stopping a recurring payment requires three business days' notice and written confirmation after a call

If the cardholder has provided instructions for recurring transactions from the Card Account, the cardholder can stop a payment by submitting a request at affirm.com/help/debit, notifying the Bank orally at (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. If the cardholder calls, the Bank may require a written request within fourteen days after the call. If the cardholder orders the Bank to stop a payment three business days or more before the scheduled transfer, the Bank will be liable for direct losses or damages if it does not comply. If a merchant was authorized to make the recurring transaction, the cardholder should also contact the merchant. Stop-payment orders may expire after six months and must be renewed to remain effective.

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.

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 request must reach the Bank at least three business days before the scheduled transfer.
• A phone request may require written confirmation within fourteen days.
• The Bank's liability for direct losses applies when the stop order is timely and the Bank fails to comply.
• The cardholder should also contact an authorized merchant.
• Stop-payment orders may expire after six months and must be renewed.

Not stated here

• The agreement does not state every method's processing time beyond the three-business-day requirement.

Charges & Financial Obligations · Restriction or exception

A Pre-purchase Loan can intercept or mismatch a recurring transaction, and the Bank is not responsible for matching

If the cardholder takes out a Pre-purchase Loan 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. The block gives an example: a grocery-store Pre-purchase Loan might cause a cell-phone bill recurring transaction during the authorization period to be declined or inadvertently match the grocery Loan. If a purchase is misattributed to a Loan, the cardholder should contact Affirm as soon as possible at affirm.com/help/debit or (855) 423-3729 to match the Loan correctly. The Bank is not responsible for matching a Card transaction to a Loan.

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 recurring transaction must occur during the Pre-purchase Loan's authorization window.
• The recurring transaction may be declined or inadvertently associated with the Loan.
• The cardholder is directed to Affirm to correct a misattribution.
• The Bank disclaims responsibility for matching a Card transaction to a Loan.

Not stated here

• The agreement does not state how often a particular recurring merchant will fall inside a Loan window.

Charges & Financial Obligations · Procedure

Remaining funds after cancellation are returned by ACH or check, subject to offset

If the Card is canceled, closed or terminated for any reason, any remaining available funds associated with the Card Account will be returned to the cardholder by ACH transfer to the Linked External Account or by check, subject to any contrary provision in the agreement and applicable law. The amount of remaining funds transferred may be offset by any amounts the cardholder owes the Bank under the agreement.

Supporting quotations

In the event your Card is cancelled, closed or terminated for any reason, any remaining available funds associated with the Card Account will be returned to you via ACH transfer to your Linked External Account or by check, subject to any contrary provision in this Agreement and applicable law.

The amount of remaining funds we transfer to you may be offset by any amounts you owe us under this Agreement.

Qualifications & exceptions

• The return method is ACH to the Linked External Account or check.
• The return is subject to contrary provisions in the agreement and applicable law.
• The returned amount may be offset by amounts owed to the Bank.

Not stated here

• The agreement does not state the timing of the return.

Charges & Financial Obligations · Context

The fee schedule lists $0.00 for purchase, activation, registration, monthly, weekly and POS purchase fees

The fee schedule's "ALL FEES / AMOUNTS" table lists a $0.00 amount for each of the following: Card Purchase Fee, Card Activation Fee, Account Registration Fee, Monthly Fee, Weekly Fee, POS PIN Debit Purchase, POS Signature Purchase, POS PIN Purchase (Declined), and POS SIG Purchase (Declined).

Supporting quotations

ALL FEES

Card Purchase Fee

Card Activation Fee

Account Registration Fee

Monthly Fee

Weekly Fee

POS PIN Debit Purchase

POS Signature Purchase

POS PIN Purchase (Declined)

POS SIG Purchase (Declined)

Qualifications & exceptions

• The table's column heading is "AMOUNTS" and the fee column shows $0.00 for each listed row.
• The table lists these fees; it does not say the list is exhaustive of every possible third-party charge.

Charges & Financial Obligations · Context

The fee schedule lists $0.00 for ATM, customer service, inactivity, NSF, close and replace Card fees

The fee schedule lists $0.00 for ATM Withdrawal (US) and ATM Withdrawal (Declined). The ATM row adds that neither the Bank nor Affirm charges a fee for ATM withdrawals, but the ATM owner or operator may charge a fee determined by that owner or operator. The table also lists $0.00 for Automated System Customer Service, Live Agent Customer Service Fee, Inactivity Fee, Insufficient Funds/NSF Fee, Close Card and Replace Card.

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)

Automated System Customer Service

Live Agent Customer Service Fee

Inactivity Fee

Insufficient Funds/NSF Fee

Close Card

Replace Card

Qualifications & exceptions

• The ATM row states that an ATM owner or operator may charge its own fee.
• The other listed rows show $0.00.
• The table lists these fees without saying the list is exhaustive of third-party charges.

Not stated here

• The amount of any ATM operator fee is not stated; it is determined by the operator.

Charges & Financial Obligations · Context

Optional fee-based Affirm programs are subject to a separate agreement

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

Supporting quotations

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

Qualifications & exceptions

• The programs are optional and fee-based.
• They are provided through Affirm, not the Bank.
• A separate agreement governs them.

Not stated here

• The optional programs, their fees and their separate agreements are not supplied in this saved source.

Charges & Financial Obligations · Context

Transaction Limits cap amount, type and frequency, and four limit types can stack

The agreement defines "Transaction Limits" as several limits on the amount, type, and frequency of transactions made with the Card or Card Account, and warns that more than one limit may apply at the same time. It names four types: Individual Transaction Limits, Pending Transaction Limits, Daily and Monthly Transaction Limits, and Pre-purchase Loan Limits. Current limits are displayed in the Affirm App. The agreement also defines "External Bank Balance" as the available balance in the Linked External Account, and "Linked External Account" as an external bank account linked to the Card Account, which may include an account linked in connection with Backup Protection. Affirm Savings can be the Linked External Account, but it is not provided by Evolve and the agreement says it is outside the agreement's scope and has no relationship with the Bank.

Supporting quotations

There are several limits on the amount, type, and frequency of transactions you can make using your Card or Card Account

multiple limits may apply at any one time

Affirm Savings is outside the scope of this Agreement and has no relationship with the Bank.

There are four types of Transaction Limits: Individual Transaction Limits, Pending Transaction Limits, Daily and Monthly Transaction Limits, and Pre-purchase Loan Limits.

Qualifications & exceptions

• More than one limit may apply to a single transaction.
• Affirm Savings is excluded from this agreement even when it is used as the Linked External Account.

Not stated here

• The agreement does not state every limit in the text; it says current Transaction Limits are found in the App and that some limits may not be disclosed for security.

Charges & Financial Obligations · Company practice

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

The Individual Transaction Limit is how much the cardholder can spend on a "Pay in Full" purchase, and the current limit is displayed in the Affirm App. If Affirm Savings is the Linked External Account, the limit on each transaction made with the Card or Card Account is 100% of Affirm Savings' External Bank Balance.

Supporting quotations

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

If your Affirm Savings is your Linked External Account, 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% figure applies only when Affirm Savings is the Linked External Account.
• The limit is measured per transaction against the Affirm Savings External Bank Balance.

Charges & Financial Obligations · Restriction or exception

With another bank linked, the individual limit is the lesser of $50 or 50% of the balance

If the Linked External Account is 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 stated in Affirm's communication. The Bank reviews Card transaction history and External Bank Balance data from the last thirty days to determine the subsequent limit. Based on that review, the Bank may lower the limit to protect the security of the account and its systems, and if it has reason to believe an ACH debit from the Linked External Account would fail.

Supporting quotations

If you make any other bank account your Linked External Account, 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

• The $50/50% formula applies to a linked account other than Affirm Savings.
• A higher initial limit may be stated in Affirm's communication.
• The Bank may lower the limit after its thirty-day review for security or expected ACH failure.

Not stated here

• The agreement does not give the exact review methodology or the amount of any higher limit.

Charges & Financial Obligations · Restriction or exception

Backup Protection Limit is capped at $300

If the cardholder is eligible for and enrolls in Backup Protection, the Backup Protection Limit is set as described earlier in the agreement and is capped at a maximum of $300. The block cross-references Section I.D. for Backup Protection and states only the cap.

Supporting quotations

If you are eligible for and enroll in Backup Protection (as defined below in Section I.D.), your "Backup Protection Limit" is limited as set forth above in (B). Notwithstanding, your Backup Protection Limit will be capped at a maximum of $300.

Qualifications & exceptions

• Requires eligibility for and enrollment in Backup Protection.
• The cap is a maximum of $300; the actual limit may be lower.

Not stated here

• The block cross-references an earlier subparagraph for how the underlying limit is calculated; it states only the $300 cap itself.

Charges & Financial Obligations · Procedure

Pending Transaction Limit subtracts pending transactions from the individual limit

The Pending Transaction Limit equals the Individual Transaction Limit reduced by any pending transactions. Transactions made using the proceeds of a Pre-purchase Loan obtained from a Lender through the App before the transaction are not considered pending for this calculation. Pending transactions can be viewed in the Affirm App.

Supporting quotations

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.

Qualifications & exceptions

• Pre-purchase Loan transactions are excluded from the pending-transaction subtraction.

Charges & Financial Obligations · Restriction or exception

Pay in Full purchases have $1,500 daily and $15,000 monthly limits; ATM access is separate

For "Pay in Full" transactions, which are transactions resulting in one or more debits to the Linked External Account for the entire transaction amount and excluding transactions funded by a Loan obtained through the App, the Card and Card Account have a $1,500 daily limit and a $15,000 monthly limit. The App shows the amount currently available to spend for Pay in Full purchases. The agreement says further limits may exist and directs readers to Section IV.B for ATM limits, noting that ATM access is not available to all cardholders.

Supporting quotations

For "Pay in Full" transactions, which are those transactions resulting in one or more debits to your Linked External Account for amounts equal to the entire transaction (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 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.

See Section IV. B. for ATM limits. Please note ATM access is not available to all cardholders.

Qualifications & exceptions

• The daily and monthly figures apply to Pay in Full transactions, not to transactions funded by a Pre-purchase Loan.
• Further limits may exist.
• ATM access and ATM limits are separate and not available to every cardholder.

Not stated here

• The agreement does not list the further limits it says may exist.

Charges & Financial Obligations · Procedure

Refunds may be credited to the Card Account, an associated Loan, or the linked account at Affirm's discretion

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.

Supporting quotations

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 may be the Card Account, an associated Loan, or the Linked External Account.
• The choice is in Affirm's sole discretion.
• The merchant's refund policy also applies.

Not stated here

• The agreement does not state how Affirm will choose among the destinations for a particular refund.

Charges & Financial Obligations · Procedure

Pay in Full refunds generally go to the linked account and may be offset by pending amounts

If the cardholder receives a refund of a Pay in Full transaction, the refund is generally transferred to the Linked External Account. The amount may be offset by pending Card Account transfers the cardholder authorized from the Linked External Account or pending Card transactions. The block's example: with a $20 pending transfer and a $100 refund, the Bank may offset $20 and credit $80 to the Linked External Account while crediting the Card Account for $20. To deliver the refund, the cardholder authorizes the Bank to debit the Card Account for the refund amount less any offset and credit that amount to the Linked External Account on or after the date the refund is received in the Card Account.

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.

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 general destination for a Pay in Full refund is the Linked External Account.
• Pending transfers or pending Card transactions may offset the refund.
• The example's split is illustrative, not a fixed rule for every refund.
• The cardholder authorizes the offset debit and transfer when the refund is received.

Not stated here

• The agreement does not state the order in which multiple pending items are offset.

Charges & Financial Obligations · Procedure

Loan-funded purchase refunds go to the Lender for the Loan, with a 65-day fallback

Where the cardholder separately obtained a Loan in connection with a returned purchase, the cardholder agrees that the Bank may transmit the refund to the Lender for application to the Loan balance in a manner consistent with the Loan Agreement. The Bank is not involved with or responsible for applying the refund to a Loan. Affirm may, in certain circumstances, let the cardholder tell Affirm how to apply the refund; if so, the cardholder must choose within the time frame in Affirm's communication. If the cardholder does not choose, or the refund does not match any open Loan based on Affirm's assessment, Affirm may apply the refund in its sole discretion thereafter or within 65 days of the refund. The cardholder can contact Affirm at (855) 423-3729 with questions.

Supporting quotations

In all cases, except for those expressly referenced herein, 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.

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

If you do not provide Affirm with your selection, or if your refund does not match any open Loan based on Affirm’s assessment, Affirm may apply the refund in its sole discretion thereafter or within 65 days of the refund.

Qualifications & exceptions

• The refund transmission applies where the purchase was connected to a separate Loan.
• Application to the Loan follows the Loan Agreement, and the Bank is not involved or responsible.
• Affirm may offer a choice with a stated time frame.
• Without a choice or a matching open Loan, Affirm may apply the refund at its discretion within 65 days.

Not stated here

• The agreement does not state the exact time frame Affirm gives for a refund choice or the criteria for matching an open Loan.

Charges & Financial Obligations · Procedure

Merchant return policies govern, the Bank is not responsible for the goods, and refunds may take up to ten days

Exchange or return of goods or services purchased in whole or in part 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 Service Provider is responsible for delivery, quality, safety, legality or any other aspects of goods or services purchased from others with the Card. If the cardholder has a problem with a purchase or a merchant dispute, the cardholder should first try to resolve it directly with the merchant. The cardholder understands and agrees that goods and services purchased with the Card are obtained using funds in the Card Account, not the proceeds of any Loan. Refund handling is governed by this agreement and not by a Loan Agreement unless consistent with this agreement. Amounts credited to the Card Account or Linked External Account for refunds may not be available for up to ten days from the refund transaction.

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 Service Provider is responsible for the delivery, quality, safety, legality, or any other aspects of the goods or services you purchase from others with the Card.

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 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

• Merchant policies and applicable law govern returns and exchanges, including possible return, shipping or restocking fees.
• The Bank and Service Provider disclaim responsibility for delivery, quality, safety, legality and other aspects of purchased goods or services.
• The cardholder should first resolve a purchase problem directly with the merchant.
• Card purchases are treated as using Card Account funds, not Loan proceeds, for this agreement's refund rules.
• Refunded amounts may be unavailable for up to ten days.

Not stated here

• The agreement does not state the refund timing for a particular merchant.

Charges & Financial Obligations · Procedure

Pre-purchase Loans can raise the next transaction limit up to $30,000, with a $30,000 monthly cap

If the cardholder applies for and obtains a Pre-purchase Loan in the App and the Loan and corresponding Card transaction are successfully matched, the transaction limit for the next Card transaction may exceed the other limits, up to the amount of the Loan. The Loan amount cannot in aggregate exceed $30,000, and Card transactions associated with Pre-purchase Loans cannot exceed $30,000 in a month. The block's example shows that after $25,000 of matched loans in a month, no more than $5,000 of further loans can be approved that month; after another $5,000 matched loan, the cardholder cannot obtain more loans or use the Card for a Pre-purchase Loan transaction for the rest of the month. Each Loan must be applied for and approved separately, subject to eligibility and a possible down payment. If the cardholder is enrolled in an Optional Planning Feature, the cardholder authorizes Affirm to apply for one or more Pre-purchase Loans without a manual application each time, subject to the same limit and the separate Program Agreement.

Supporting quotations

If you apply for and obtain a Pre-purchase Loan in the App, and your Loan and corresponding Card transaction are successfully matched as described below, 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

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.

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, subject to this same Pre-purchase Loan Limit and the terms of the separate Program Agreement for that Optional Planning Feature

Qualifications & exceptions

• The raised limit is available only for the next Card transaction that is successfully matched to the Loan.
• The $30,000 cap applies both to the aggregate Loan amount and to Card transactions associated with Pre-purchase Loans in a month.
• Each Loan is separately applied for and approved, subject to eligibility and a possible down payment.
• An Optional Planning Feature can automate applications but remains subject to the same limit and a separate Program Agreement.

Not stated here

• The block does not state every matching condition; it refers to the separate Program Agreement for an Optional Planning Feature and to matching described elsewhere.

Charges & Financial Obligations · Restriction or exception

Failed ACH transfers reduce limits to $0, then as low as $50

If an incoming ACH or other transfer or deposit from a Linked External Account to the Card Account fails for any reason, the Bank reduces the Individual Transaction Limit to $0 until all failed transactions are successfully paid. After that, provided the available balance in the Card Account 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 it has increased them.

Supporting quotations

if any incoming ACH or other transfer or deposit from your Linked External Account(s) to your Card Account fails for any reason, we will reduce your Individual Transaction Limit to $0 until you successfully pay all failed transactions

provided that the available balance in your Card Account is not negative, 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

Qualifications & exceptions

• The $0 reduction lasts until all failed transactions are successfully paid.
• The later $50 figure is a floor: the limits will be "as low as $50" until the Bank notifies an increase in the App.
• The $50 floor applies only while the Card Account balance is not negative.

Charges & Financial Obligations · Company practice

Affirm may raise or lower limits at its sole discretion; stricter limits come with notice

The Bank may increase or decrease the cardholder's 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 other than those stated in the agreement, it will notify the cardholder as required by applicable law.

Supporting quotations

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.

Qualifications & exceptions

• The discretion covers Transaction Limits and any other limit on the Card or Card Account.
• Notice is promised for stricter limits and only as applicable law requires.

Charges & Financial Obligations · Restriction or exception

Limits drop to $50 or the account may be suspended for believed violations; some limits are undisclosed

Transaction Limits will be $50 (or another amount Affirm discloses), or the Bank may suspend or lock use of the Card or Card Account, if Affirm believes the cardholder violated this agreement or another agreement with Affirm or a financial institution partner in connection with an Affirm product or service. the Bank may allow the cardholder to exceed limits at its sole discretion but is not required to do so, and it may decline any transaction that would exceed a limit. The agreement also says other limits on amount, type and frequency exist and that the Bank may not disclose them or changes to them for security purposes unless the law requires disclosure.

Supporting quotations

your Transaction Limits will be $50 (or such other amount we disclose to you), or we may suspend or lock your use of the Card or Card Account, if we believe you have violated the terms of this Agreement or any other agreement you have with Affirm or a financial institution partner in connection with any Affirm product or service

In our sole discretion, we may allow you to exceed these limits from time to time, but are not required to do so.

There are other limits on the amount, type, and frequency of transactions you can make using your Card and Card Account, and we may not disclose these limits, or changes to these limits, to you for security purposes, unless required by law.

Qualifications & exceptions

• The $50 figure is the stated reduced limit; the Bank may disclose another amount.
• Suspension or locking is discretionary and based on Affirm's belief of a violation.
• Some limits and changes may be undisclosed for security unless law requires disclosure.

Not stated here

• The agreement does not identify the other limits it says may exist or the security reasons for withholding them.

Charges & Financial Obligations · Company commitment

The Card Account pays no interest and has no minimum balance

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

Supporting quotations

No Interest: You will not earn any interest on the Card Account.

No Minimum Balance: There is no minimum balance required in your Card Account.

Not stated here

• Loans obtained through the App are separate from the Card Account and may bear interest under their own agreements; these blocks address only the Card Account.

Charges & Financial Obligations · Company commitment

No mandatory fees for using the Card or Card Account; optional programs are separate

The agreement says the Bank will not charge any fees for using the Card or Card Account. It points to the Fee Schedule and Section III for third-party fees. Optional fee-based programs may be available through Affirm, and the Bank is not responsible for those fees; questions about them go to Affirm.

Supporting quotations

We Don't Charge Any Mandatory Fees: 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 Bank is not responsible for such fees.

Qualifications & exceptions

• The no-fee commitment covers the Bank's charges for using the Card or Card Account.
• Third-party fees are addressed by the Fee Schedule and Section III.
• Optional Affirm programs may carry fees and are not the Bank's responsibility.

Not stated here

• The separate optional programs and their prices are not described in this block.

Charges & Financial Obligations · Context

Loans are made by a Lender, not the Bank, and the Bank disclaims involvement

The agreement states in capitals that all loans are made by a Lender and not by the Bank. The Bank is not involved in the application, underwriting or approval of any Loan and has no responsibility to the cardholder for the Loans or for the Lender's acts or omissions. The cardholder must apply for each Loan separately in the App, and approval is subject to eligibility and may require a down payment, as determined by the Lender.

Supporting quotations

ALL LOANS ARE MADE BY A LENDER AND NOT BY BANK. BANK IS NOT INVOLVED IN THE APPLICATION, UNDERWRITING OR APPROVAL OF ANY LOAN.

BANK HAS NO RESPONSIBILITY TO YOU FOR THE LOANS OR ANY ACTIONS OR OMISSIONS OF LENDER.

YOU MUST APPLY FOR EACH LOAN SEPARATELY IN THE APP, AND APPROVAL FOR EACH LOAN IS SUBJECT TO ELIGIBILITY AND MAY REQUIRE A DOWNPAYMENT, AS EACH IS DETERMINED BY THE LENDER.

Qualifications & exceptions

• The Bank's disclaimer covers the Loan application, underwriting, approval, and the Lender's actions or omissions.
• Each Loan is a separate application and approval, determined by the Lender.

Not stated here

• The Lender's own loan terms, rates and fees are not supplied in this agreement.