Your spend limit is set based on a number of factors, based on your Credit Score.
At the time of sign-up, we run a credit check with the credit bureau Centrix. Your initial Zip spend limit is a direct reflection of the credit score we receive back from Centrix.
As you complete orders successfully without any late payments or refunds (with the exception of Auckland Transport) you may become eligible for increases. We periodically will run a credit check to assess your current credit score and review your account history to determine whether a spend limit increase can be provided.
- This type of check will not impact your credit score.
- These checks will not be visible to other lenders.
To learn more about your Credit Score and credit history, please get in touch with Centrix.
At Zip, we’re committed to responsible lending practices and strive to meet our customers' needs within our credit portfolio. We regularly review our customers' information, including how frequently they make their payments on time and the number of purchases they’ve made, to ensure that the credit limit they have is manageable and one they can comfortably afford.
If your credit limit has been reduced, this is the result of a recent evaluation of your account taking into account your payment history and behaviour on your account. Please note that this decision cannot be changed at this time.
We will notify you of any changes to your spend limit as they occur.