Consumer complaint received 2023-03-12
Company: Affirm Holdings, Inc
State: VA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
This account ( Affirm ) was opened on XX/XX/XXXX for a total of {$210.00}, which includes the amount financed of {$180.00} and your downpayment of {$31.00}, to XXXX, 12 monthly payments of {$17.00}. I opted to pay off early and it was paid in full on XX/XX/XXXX. This creditor is negligent in updating my credit line on this account, which is showing an outstanding balance of {$71.00}, last reported on XX/XX/XXXX. This may seem small, but it distorts my utilization none the less, even though it show paid as agreed. 

Honestly, I dont even feel that it should be on my credit reports period, considering the amount and that it was paid off quickly. 

Ive disputed with the credit bureau the fact that the creditor posted a line of credit to my credit report at all and was told there was a invisible overlap in communication ( creditor posted on XX/XX/XXXX and my final payment was XX/XX/XXXX ( final 2 payments on XX/XX/XXXX {$35.00} & XX/XX/XXXX {$37.00} ). 

I reached out to the creditor on XX/XX/XXXX, filling a dispute ( # XXXX ) and was pretty much told was paid off when we received your last payment on XX/XX/XXXX which fell outside the reporting time period covered when we last provided information to XXXX. The response was as follows : Affirm Dispute -Case ID XXXX This case XXXX, XXXX PM EST * MA. XXXX AT XXXX, XXXX PM Hello XXXX, XXXX from Affirm here. I hope this message finds you well. I am following up in regards to your credit reporting dispute. I am here to provide additional clarity. 

Looking at your account, your XXXX loan ( ID : XXXX ) was paid off when we received your last payment on XX/XX/XXXX which fell outside the reporting time period covered when we last provided information to XXXX. Affirm reports batches of information that covers your repayment information within a specific time period. Depending on when your payment was made and when we report the information this could take a minimum of 30-60 days to be reflected on your credit report.

Loan details, including payment date, covering the time frame during which you made your payment ( s ) will be reflected in the information shared in the coming months. These details will update on your credit report in accordance with the credit bureaus processing timeline. You can see the batch of payment information that was reported on your credit report or by contacting XXXX directly. 

If you need immediate repayment confirmation, please let us know and we would be happy to provide a loan verification document. 

If you have any additional questions or concerns, please don't hesitate to contact us by visiting our Help Center at https : XXXX/ or by calling XXXX between the hours of XXXX to XXXX XXXX seven days a week. Thank you for being a valued Affirm customer, and have a great day! 

Warm Regards, Ma. XXXX XXXX. 
Download Affirm app Payment options through Affirm are provided by these lending partners : affirm.com/lenders. Your rate will be 0 % 36 % APR based on credit, and is subject to an eligibility check. Options depend on your purchase amount, XXXX vary by merchant, and XXXX not be available in all states. A down payment XXXX be required. Affirm savings accounts are held with XXXX XXXX Bank, XXXX FDIC. California residents : Affirm XXXX XXXX, XXXX is licensed by the Department XXXX XXXX XXXX and XXXX. Loans are made or arranged pursuant to California XXXX XXXX license XXXX. XXXX Banking Services are provided by Evolve Bank XXXX XXXX XXXX Member FDIC XXXX issuer of the Affirm Debit+ Visa Debit Card pursuant to a license from XXXX XXXX XXXX XXXX XXXX not available to residents of New Mexico or XXXX XXXX XXXX Affirm XXXX XXXX, XXXX ID XXXX. Affirm XXXX XXXX, XXXX, XXXX ID XXXX. 


As of today, nothing has changed, Affirm is still showing a balance of {$71.00}, as of XX/XX/XXXX. 

This is unfair to me as a customer who paid on time and well in advance. It is negligent on the parts of both the creditor and the credit bureau ( XXXX ). There should be some guidelines for a credit reporting late and/or the untimely practice of a credit bureau XXXX XXXX a creditor sends as an update and when. XXXX feeling penalized and my account is paid. From a future creditors view of my account it would appear that I still owe on this account ( which in my opinion should not have been reported in the first place ). 

We are expected to pay o time, but when we do, there is no responsibility for the creditor and/or the credit bureau XXXX update the reports timely. This is not a fair practice and it negatively impacts the consumer.

Company response to consumer: Closed with explanation