Upon signup
When you sign up for a Zip account, we perform a credit check with the credit bureau Centrix. This is to determine your starting spend limit and whether you meet our lending criteria.
We do this to ensure safe spending practices and that we are being a responsible finance company. This type of check will not impact your credit score, however it will show on your credit file and be visible to others who access your credit profile.
When you transact and receive credit increases
As you transact with Zip, you may become eligible for a spend limit increase depending on your purchase and repayment behaviour.
Zip will run an updated credit check to determine whether a credit limit increase can be provided. This type of check will not impact your credit score.
To learn more about your Credit Score and credit history, get in touch with Centrix.
How to reassess if you did not meet credit
If you initially did not meet our credit criteria, and three months has passed from when you first created a Zip account, we can run your credit check again to reassess your credit and see if you are now eligible for an account with Zip. Please note that every check we do will be listed on your credit profile and be visible to other lenders.
Out of date credit report
If you have never used your Zip account and it has been some time since you created your account, we will need to reassess your account for an updated credit report. With your permission, we can have your application reassessed but this means it will undergo another credit check through Centrix. Please note, your starting Zip spend limit is a reflection of your current credit score. For information about this, please refer to How is my spend limit determined?.