Payday loan, title loan, personal loan, or advance loan -- Getting the loan -- Complaint #11045538
Complaint Overview
Complaint ID: 11045538
Company: Affirm Holdings, INC
Product: Payday loan, title loan, personal loan, or advance loan
Sub-Product: Installment loan
Issue: Getting the loan
State: Ohio
ZIP Code: 441XX
Date Received: 2024-12-04T12:00:00-05:00
Date Sent to Company: 2024-12-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Request for Immediate Refund... Date of Loan Application : XX/XX/year> Loan Amount : {$1300.00} Product : Laptop from XXXX with 2-Day Shipping... Events : On XX/XX/XXXX I applied for a loan with affirm to purchase a laptop from XXXX with 2-Day shipping. The order did not go through due to an 'Authorization Failed ' error on the card that Affirm 'approved ' for use on the order. I contacted XXXX 's customer service. They said that Affirm did not release the funds, and that is why I could not checkout. I called Affirm, at which point the representative activated the loan. I tried checking out again, however I received the same error message, 'Authorization Failed '. I contacted XXXX again, and they ran the card through the system manually, but it would not work. Affirm deducted $ XXXX from my bank account for the loan. I contacted them for a resolution. They said to wait 3-10 business days for a refund as the loan could not be used on another transaction. After a few days I called for an update, at which point a supervisor escalated the issue and said to wait another 3-10 business days, and that the merchant has to cancel the order. During this time I called XXXX to confirm that an order did not exist from the card associated with the loan. They also looked up my bank card. I repeated this transaction lookup with both the Affirm agent and XXXX agent on the same call to prove that this loan is not associated with an order. Today I received a notice that I will not receive my money until 3-5 business days after the loan is canceled. Which takes 60 days. My bank informed me that if I dispute the charge I risk having my account with Affirm shut down. ... I needed this laptop for job/study purposes, and without my money I can not purchase one. I respectfully request that the refund be expedited or, if I dispute the charge, that my account remains unaffected. ... Summary : Affirm processed a loan charge for $ XXXX, but no product or service was provided. I have contacted both Affirm and XXXX multiple times, yet I am now being told it will take up to 60 days for a refund. I ask for a prompt resolution of this issue, or that my account remain unaffected should I dispute the charge.
Frequently Asked Questions
What is Complaint #11045538 about?
Complaint #11045538 was filed against Affirm Holdings, INC regarding Payday loan, title loan, personal loan, or advance loan specifically about Getting the loan. It was received by the CFPB on 2024-12-04T12:00:00-05:00.
How did Affirm Holdings, INC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, personal loan, or advance loan) and describe your issue in detail.
Can I see other complaints against Affirm Holdings, INC?
Yes, visit the Affirm Holdings, INC company profile at readthecomplaint.com/company/affirm-holdings-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.