From October 22 to 24, buy now, pay later (BNPL) platform Affirm is running its first 0% Days promotion.
When using the Affirm app or Affirm Card, shoppers will be able to access 0% APR offers of up to 24 months for purchases at select retailers.
Breaking the Promotion Down
Affirm already offers 0% financing on certain purchases year-round, but this marks the first time it’s bundled these offers into a branded, limited-time event.
Between October 22 and 24, eligible customers using the Affirm app or Affirm Card can access interest-free terms of up to 24 months, depending on the retailer and purchase size.
Not every merchant or item qualifies for 0% Days promotions. The company also says it won’t charge late fees or any hidden costs.
The Trade-Offs
While consumers avoid interest charges through promotional BNPL offers, the usual risks still apply.
The short-term thrill of a 0% APR doesn’t remove the responsibility of paying on time. For plans beginning after May 1, Affirm reports all plans and payment activity to Experian and TransUnion. This means missed payments can negatively impact your credit score.
Managing multiple payment plans, especially alongside credit card bills, mortgages or personal loans, can also become difficult. Long no-interest periods may encourage overspending if you’re not certain you can make payments in full and on time each month.
With these points in mind, we recommend using BNPL services only in the cases of essential purchases or emergencies. Traditional financing options often offer better credit-building opportunities and come with stronger consumer protections than most BNPL offers.
BNPL or Bust? Other Financing Options
Before opting into a BNPL offer, consider other financing options like credit cards with promotional 0% APR periods and personal loans.
While Affirm’s 0% Days promotion may offer interest-free terms of up to 24 months, many credit cards provide a 0% APR on new purchases for 18 to 21 months. Unlike BNPL offers, the 0% APR on a credit card applies to all eligible purchases, not just those made through a specific retailer.
Most credit cards also include zero liability protection, which means you won’t be held responsible for unauthorized charges. Some cards offer additional benefits such as purchase protection and extended warranty protection, which are useful features when making an expensive purchase. Overall, these protections can make credit cards a safer payment method compared to BNPL platforms.
In addition, some 0% APR cards provide rewards in the form cash back or points. As with BNPL, it’s essential to pay off your balance in full before the promotional period on your credit card ends. Once its regular APR kicks in, interest charges can outweigh any rewards earned. Paying on time also helps you build a positive credit history, while carrying a high balance or missing payments can hurt your credit score.
Another option for financing a long-term purchase is a personal loan. While these loans charge interest, they offer predictable monthly payments and longer repayment terms than most BNPL services or credit cards. This can make them a practical choice if you need more time to pay off a balance and want to secure the lowest possible rate over an extended period.
How Affirm Compares to Other BNPL Apps
If you decide a BNPL service or app is best for you, it is a wise idea to compare options.
Forbes Advisor evaluated the best buy now, pay later apps based on factors such as fees, interest rates, payment schedules, customer experience and more. Affirm ranked at the top of the list, but here’s how some of the most popular services stacked up.
| COMPANY | FORBES ADVISOR RATING | INTEREST RATES | CREDIT LIMIT | FEES | LEARN MORE |
|---|---|---|---|---|---|
   | 0% to 36% | $50 to $5,000 | None | ||
 | 0% to 35.99% | $30 to $10,000 | None | ||
 | 0% to 35.99% | $100 to $20,000 | Late fees | ||
| | 0% to 36% | Up to $25,000 | None | ||
| | 0% to 35.99% | $1,000 to $10,000 | Late fees |
Bottom Line
Affirm’s 0% APR Days give customers a chance to take advantage of promotional no-interest financing for up to 24 months at select retailers. However, it’s important to remember that BNPL services are simply another way to spread out payments, and they come with risks.
Treat any BNPL offer like a traditional loan: Make payments on time and aim to pay off the full balance before the promotional period ends to avoid potential damage to your credit score.
Before choosing BNPL, consider whether a 0% APR credit card or a personal loan might be a better fit. These alternatives can offer longer repayment terms, consumer protections and, in some cases, rewards for your spending.
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