Affirm vs Earnest

Struggling to choose between Affirm and Earnest? Both products offer unique advantages, making it a tough decision.

Affirm is a Business & Commerce solution with tags like installment-loans, payment-solutions, fintech.

It boasts features such as Installment loans, Payment plans, Virtual card, Browser extension and pros including More flexible payment options, Can finance large purchases, No late fees, Simple application process.

On the other hand, Earnest is a Ai Tools & Services product tagged with ai, machine-learning, lending, loans, fintech.

Its standout features include AI/machine learning-based credit evaluation, Personal loans, Student loan refinancing, Medical loan refinancing, and it shines with pros like Potentially get approved for a loan with a low credit score, Lower interest rates than traditional lenders for some borrowers, Fast online application process, No origination fees, No prepayment penalties.

Feature	Affirm	Earnest
Overall Score	N/A	N/A
Primary Category	Business & Commerce	Ai Tools & Services

Product Overview

Affirm

Description: Affirm is a financial services company that offers installment loans and payment solutions to consumers at online stores. Its solutions allow shoppers to split purchases into monthly payments.

Earnest

Description: Earnest is a lending platform that uses artificial intelligence and machine learning to evaluate loan applications. It provides personal loans and refinancing for student loans and medical loans. Earnest aims to provide affordable loan rates based on the applicant's credit profile and earning potential rather than credit score alone.

Key Features Comparison

Affirm Features

• Installment loans
• Payment plans
• Virtual card
• Browser extension

Earnest Features

• AI/machine learning-based credit evaluation
• Personal loans
• Student loan refinancing
• Medical loan refinancing

Pros & Cons Analysis

Affirm

Pros

• More flexible payment options
• Can finance large purchases
• No late fees
• Simple application process

Cons

• Higher interest rates than traditional loans
• May encourage overspending
• Virtual card has fees
• Limited to online stores

Earnest

Pros

• Potentially get approved for a loan with a low credit score
• Lower interest rates than traditional lenders for some borrowers
• Fast online application process
• No origination fees
• No prepayment penalties

Cons

• High minimum credit score requirement (680)
• High debt-to-income ratio requirement (50%)
• No cosigners allowed
• Limited loan amounts
• Only available in certain states

Pricing Comparison

Affirm

• Subscription-Based
• Custom Pricing

Earnest

• Subscription-Based