Credit card or prepaid card -- Problem with a purchase shown on your statement -- Complaint #6427843
Complaint Overview
Complaint ID: 6427843
Company: Affirm Holdings, INC
Product: Credit card or prepaid card
Sub-Product: Store credit card
Issue: Problem with a purchase shown on your statement
Sub-Issue: Credit card company isn't resolving a dispute about a purchase on your statement
State: Florida
ZIP Code: 32216
Date Received: 2023-01-11T12:00:00-05:00
Date Sent to Company: 2023-01-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Due to insufficient due diligence, Affirm helped to finance a Ponzi Scheme by XXXX XXXX, and has direct liability in this issue since it was helping to finance XXXX XXXX 's transactions even when it was clear that they were insolvent and unable to fulfill any new orders. We purchased a sofa from XXXX XXXX and used Affirm to finance the transaction because XXXX XXXX and Affirm had a co-marketing agreement. This means that XXXX XXXX marketed Affirm 's financing, and Affirm had a direct contractual relationship with XXXX XXXX which granted Affirm exclusivity in terms of being marketed on the site. However, we never received our sofa, and XXXX XXXX is claiming they have no legal obligation to fulfill orders placed before XX/XX/XXXX. Affirm has lied to the media by stating that consumers do not have an obligation to pay loans during the dispute, while writing to us on XX/XX/XXXX that we still have the obligation to pay them. For example in a XXXX XXXX XXXX article Affirm said there is no obligation to pay until the issue is sorted out : XXXX XXXX XXXX XXXX XXXX has admitted that it was obtaining payments and delaying orders because they had no cash to fulfill them, yet even through XXXX, Affirm was still fronting loans to XXXX XXXX. At this point Affirm is trying to pretend that it has no responsibility, arguing there is nothing they can do since 60 days have elapsed, and refusing to refund us. Meanwhile credit card companies like XXXX XXXX are helping consumers with this XXXX XXXX issue. This is yet another reason why the CFPB needs to have better oversight over the XXXX providers.
Frequently Asked Questions
What is Complaint #6427843 about?
Complaint #6427843 was filed against Affirm Holdings, INC regarding Credit card or prepaid card specifically about Problem with a purchase shown on your statement. It was received by the CFPB on 2023-01-11T12:00:00-05:00.
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 (Credit card or prepaid card) 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.