Affirm
Affirm Holdings, Inc.
15 quarters tracked through Q1 2026
Q1 2026 · Coverage note
A Different Credit Model
Affirm is a buy-now-pay-later lender whose Affirm Card is a hybrid debit/credit product. Its economics do not map cleanly onto the revolving-card credit metrics (net charge-off rate on revolving receivables, 30+ delinquency) that anchor Cardintel's issuer briefs.
Affirm's installment-and-BNPL model does not produce the revolving-card metrics Cardintel's issuer briefs are built around.
Affirm originates installment loans and pay-over-time products rather than traditional revolving card balances. Its loss and yield dynamics are reported on a loan-platform basis that is not directly comparable to the revolving net-charge-off and delinquency metrics used across the bank issuers.
Cardintel tracks Affirm as the most-watched fintech card launch in the market — the Affirm Card debit/credit hybrid — but a credible quarterly credit brief requires either the company's loan-platform disclosures normalized to a comparable basis or a card-specific breakout that is not yet cleanly extractable.
Rather than force Affirm into a revolving-card template it does not fit, the page shows this note. A dedicated fintech-card analytical view is planned once the data model supports installment economics.
By the editors. Cardintel.
Credit quality
Net charge-off rate
—
30+ day delinquency rate
—
Net interest margin
—
card segment NIM — sparse
Return on assets
—
consolidated, Q1 2026, annualized
Scale & earnings
Card receivables (EOP)
—
Card net revenue
—
Provision for credit losses
—
Net charge-offs ($)
—
Financial summary
P&L, balance sheet, and key drivers
Standardized issuer-summary format used across all coverage. Switch tabs to compare Affirm against a peer; change the table quarter independently of the page anchor.
| Metric | Affirm Q1 2026 | Prior Q Q4 2025 | Prior Y Q1 2025 | QoQ | YoY |
|---|---|---|---|---|---|
| Card net revenue | — | — | — | — | — |
| Provision for credit losses | — | — | — | — | — |
| Fee income (non-interest) | — | — | — | — | — |
| Net interest incomeSprint 8 — split out of card net revenue | — | — | — | — | — |
| Noninterest expenseSprint 8 — segment expense extraction | — | — | — | — | — |
| Pretax income | — | — | — | — | — |
| Net income | — | — | — | — | — |
Generated commentary
Affirm P&L for Q1 2026 — most line items pending ingestion.
$ in cents (formatted as $B / $M / $). Rows marked “pending” are tracked and will populate as the corresponding ingestion lands. Source: SEC EDGAR 10-K / 10-Q segment data and FFIEC Call Reports.
Net charge-off rate — 5-year history
Net charge-off rate for Affirm (solid) vs. the bank peer median (dashed) and 90th percentile (dotted). Use the controls above to overlay individual peers or a macroeconomic series on the right axis. Source: SEC 10-K/10-Q filings and FFIEC Call Reports; macro series via FRED.
Source: SEC EDGAR 10-Q filings + FFIEC Call Reports. Updated June 4, 2026.Methodology