How Does zipPay Affect Your Credit Rating?

weee on 06/10/2018 - 13:29

Hi I'm interested in using such service for purchasing a monitor but learnt, for example, zippy might check your credit history thus leaving some records and potentially affecting your future credit applications, is this true? anyone who knows a bit more care to clarify what's behind the scene? zippy sounds nice but I don't really put my future credit application (be whatever it might be) at unnecessary risk over some 1k purchase.

ps. there are some similar services which dont involve credit check as claimed, but all the sites I came across only provide zippay.

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Comments

  • sw0rdy on 06/10/2018 - 14:16
    +2

    They do a credit check which will show up on your credit report.

  • imolared on 06/10/2018 - 14:16

    I've had my Zippay for over a year, they are not listed on my credit report history.

    • haemolysis on 06/10/2018 - 14:49
      +1

      They're certainly listed. Most likely you are not getting a very comprehensive report from whatever provider you are using. Zip pay is reported as a Revolving Personal Loan and not a Credit Card, but it will still appear.

    • postman on 11/10/2018 - 10:47

      I think there are 3 credit reporting agencies, and they may use only one of them.

  • MiltMac on 07/10/2018 - 00:58
    +1

    ZipPay are sneaky buggers…during sign up you agree that they can see your nominated bank account, when fronted about it they say its only a 3 month snapshot, yeagh I bet an ongoing 3 month snapshot and selling it to every other finance organisation that will offer them the money for the data, dirty turds, like the Bible says, beware of the money lender…mongrels

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