We reviewed our spend limit calculations in early November 2020 to ensure that all Zip customers can now reach a spend limit of $1000. Your Zip spend limit is also dependent on a number of factors including your repayment history with us, and as a result of the change to our calculations, a small number of our customers have seen their spend limit decrease slightly for now.
Previously your spend limit could have been capped at lower amounts than $1000, depending on your credit score range (for your reference we get your credit report from an independent credit bureau, Centrix). Using our new calculations however, with each order you complete where all payments are made on time, your spend limit will increase by $50 with the potential to reach a a spend limit of $1000. Ultimately this is a positive change for all of our customers and you will be able to recover any difference you're currently seeing in your limit, with each order you complete on time.
Please feel free to contact our team if you have any queries or concerns.