Zip guarantees that your purchases will either always be interest-free or have a term of at least 3 months without interest attached. Whether your account is interest-bearing or not depends on which type of account you use to make the purchase:
Zip Pay is always interest-free! So for the life of your account, your purchases through Zip Pay will never incur interest.
Zip Money is an interest-bearing account, but only after the interest-free period on an order expires.
These interest-free periods vary depending on which merchant you shop with and how much you spend. They can start at 3 months and can extend up to 50 months!
To confirm your interest-free period, please reach out to the merchant that you are making the order with. When activating your account, your contract will indicate the interest-free period you will receive on your first purchase.
The interest-free period applies to the individual purchases on your account rather than the credit limit itself, so it will vary from purchase to purchase.
"Why does it say 3 months when I was told it was more than that?"
If you do not have an order attached to your application, no promotional interest-free period will be stated. Only once you register your account and make a purchase, the promotional interest-free period from that purchase will apply.
After the interest-free period ends, our standard annual interest rate applies of 21.9% per annum will be charged on the remaining order balance. Please check your contract to confirm your interest rate.