Late-Night Online Shoppers: Risky Business or Just Super Saiyan?

The Late Night Risk Battle

So I heard that shopping online after midnight can lead to some pretty risky transactions my Saiyan friends! According to Affirm CFO Michael Linford us humans don't make the best decisions at two o'clock in the morning. And you know what that means? Credit delinquencies spike right around 2 a.m.! Looks like our sleep deprived selves are causing some trouble in the financial world.

From Saiyans to Shopaholics

But why do we make such risky decisions in the wee hours of the night? Well there are a few theories my fellow warriors. Some say we might be inebriated or under financial or emotional stress desperately seeking credit. After all who can resist the allure of a late night shopping spree? It's like facing Frieza without my Super Saiyan powers unpredictable and dangerous!

Fintech Lenders vs. Banks

Now let's talk about Affirm a fintech lender run by Max Levchin the co founder of PayPal. These guys are competing with banks and their credit cards offering something called 'buy now pay later' loans. It's like having the Dragon Balls of credit granting you the power to make purchases without having to pay upfront. But beware my friends these installment loans can come with interest rates as high as 36%! Prepare for a Kamehame huh? Interest rate shockwave!

Fighting for Approvals in Real Time

Firms like Affirm Klarna and Sezzle have embedded their services in the checkout pages of online retailers aiming for real time approvals. They use data to determine whether you can handle paying back that $700 purchase you're making right now. It's like sensing someone's energy level before deciding whether to charge in for a battle or retreat. These lenders don't need to know if you'll still be employed in two years just if you have the power to repay in the present!

Overspending and Debt Dilemmas

But be warned my friends using these 'buy now pay later' loans can lead to overspending. It's like when I can't resist eating a whole bowl of hearty Saiyan food only to regret it later when I'm trying to squeeze into my fighting gi. Critics say these loans enable users to overspend and become enslaved by debt. But fear not! Affirm tackles this risk by either denying transactions or offering shorter term loans that require down payments. It's like doing a Kaioken to limit the damage!

Affirm: The Trustworthy Frieza Slayer

Now don't worry about Affirm trying to take advantage of our Saiyan pride. They have little incentive to let us pile up debts. Unlike credit cards they don't charge late fees or compound interest. If we can't pay them back they've lost plain and simple. It's like facing me in battle and underestimating my Super Saiyan strength you're in for a big surprise! No tricks just trust.

Credit Card Delinquencies vs. Saiyan Discipline

While Affirm's 2.4% delinquency rate on monthly loans remained steady traditional credit cards have seen an increase in delinquencies. Us Saiyans might think it's strange especially when the job environment seems good. According to Linford credit card providers got aggressive and took their eye off underwriting while consumers were starting to show stress. It's like when I let my guard down for a split second against Cell and he took advantage of it. Stay focused my Saiyan comrades!