Affirm convinced me to deposit my entire paycheck to boost my buying power — I feel completely misled
Has anyone else had this happen with Affirm?
Affirm promotes depositing your paycheck/direct deposit into their app as something that can potentially increase or boost your purchasing power. Based on that, I transferred my entire paycheck of almost $1,300 into my Affirm Money Account.
I genuinely believed having my income deposited directly with Affirm would help increase the amount I could use through Affirm.
Well, I deposited the money and did not get the increase in purchasing power I was led to expect. Now I have nearly $1,300 of my paycheck sitting within Affirm’s ecosystem, and I’m limited in how I can use it.
I understand that Affirm can say purchasing power isn’t guaranteed and approvals depend on different factors. But that’s exactly what bothers me. If depositing your paycheck doesn’t necessarily result in any meaningful increase, why advertise depositing your income as a way to potentially boost your purchasing power?
I would never have transferred my entire paycheck to Affirm if I hadn’t been shown that messaging.
To me, there’s a major difference between saying:
“Deposit your paycheck with us.”
and essentially advertising:
“Depositing your paycheck could help boost your purchasing power.”
The second statement gives people an incentive to move their actual income into the account.
I’m documenting everything, including the language Affirm showed me, my deposit, purchasing power before/after, and my conversations with support.
Has anyone else deposited their paycheck with Affirm because of the purchasing-power messaging? Did your buying power actually increase?
I’m also wondering whether anyone has filed a CFPB complaint or spoken with a consumer-protection attorney over something similar.