Just saw this on Facebook.
Pretty straight forward, spend $200+ on zip pay or zip money and get $40 cashback. I believe the minimum threshold to withdraw with Zip pay is $30 $20 so should be able to get it back quickly!
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Update: T&C's state this offer excludes gift card purchases. However, comments below claim they received cashback immediately after purchasing a JB Hi-Fi gift card.
$10 for referrer & referee, if referee applies for account within 10 days of invitation and completes a transaction within 14 days of account approval.
No change to my credit score after getting Zippay. It doesn't even appear in the list of credit queries.
How do you know that bud? They've already run a Credit check and you won't even know it… Also all this is debt and considered a liability while applying for mortgage…
You can easily find your credit score online.
More debt is not always a bad thing, your credit score improves as you show you can handle more debt without any problems. Of course, if you can't handle it, your credit score will drop very fast.
Depends on which credit reference agency file you are look it.
Agree. I applied for Zip last year and had no registered hits (or change) to my credit score. I just rechecked my Moneyhub account and I see no queries against it.
The enquiry shows on Equifax.
it does appear in credit, everytime you will go to apply for CC or credit line elsewhere,
the credit issuer will find out easily you held a zip account credit revolving $1000 (at least minimum Credit limit)
I talked to a Credit Repair company where they do finance coaching and having a Credit Card or Zip/Afterpay (they are basically the same) can help improve your Credit Score by paying on time and not going over limit. If you don't have credit cards and large deposit, you can easily get rejected for a loan for a bad credit score because you don't have credit to get a score on, lol.
HOWEVER, ZipPay like Credit Cards directly affects your borrowing capacity. Every $1000 of credit takes $7000 off your total borowing capacity. If you use a "How much can I borrow?" calculator from the banks where you can enter your income, expenses and how much credit card and personal loan debt, you can include your Zip balance in credit cards and see how that affects it yourself.
They suggested when you are ready to appy for a loan, to pay off your ZipPay / AfterPay and close the accounts and reduce your credit cards to the minimum.
Let's not forget that paying through zippay etc affects your…
… karma for supporting these shitty BNPL companies to save a few bucks.
https://www.abc.net.au/news/2022-04-05/debt-and-buy-now-pay-…
https://www.abc.net.au/news/2022-03-17/brt-bnpl-global-call-…
https://www.abc.net.au/news/2021-12-06/debt-christmas-buy-no…
That talks about debt. As long as you pay back the loans like any other CC, then you're fine.
Agree.
In fact, having a few cc actually improves your credit score, given if you pay them all on time. If you have too many cc, this is when it will reduce your credit score, even if you pay them all on time.
If you pay back on time, deals like this will optimize your personal finance/portfolio.
@ilovefullprice: I asked the bank about this myth. They said it's better to have no credit history instead of "good" credit history. It shows you don't need to go into debt for little frivolous purchases.
@PainToad: Quite the opposite. It’s better to have some credit history than no credit history. If you have some credit history, it shows you have been successfully pre-approved for other credits before, therefore deemed safer (given you have never missed any payments) than someone who completely doesn’t have any credit history before.
Also, people who are completely a new customer to a bank, score a lower score than someone who is an existing customer, even if you just hold a simple savings account with them. So it’s always a good idea to hold some sort of account with a bank before going in for a bigger loan later on.
As long as you pay back the loans like any other CC, then you're fine.
If you payback a loanshark in time, they won't break your legs. Just because I could pay them back, doesn't mean they're the type of person I'd want to be dealing with.
In the case of BNPL businesses, I could pay them back, however I still don't want to give a cent to them.
yeah but you can just cancel when applying (or even after)
This has already been raised several times here and there have already been bank employees that have debunked it. Unless you're racking up large unpaid/overdue debt, taking advantage of discounts from fintechs pissing away investor money doesn't affect your credit score. Especially if you're paying the due amount back immediately after a purchase anyway. I have yet to see someone here who has checked their credit score with a verified hit in this scenario… just a lot of 'may be' sayers.
Also, going around being fearful and overthinking minor decisions like these to keep banks of all institutions happy seems a bit silly.
Thought of getting GC but got disappointed after seeing the small fine print…
Gift card might be possible using the single-use Zip card or Apple Pay for purchase, but that loophole might have been closed with the addition of that text in the terms.
Anyone want to try and report back? Be the OzB savior…
I went ahead and took one for the team. it’s working, rewards came through immediately
I can confirm it works with Apple Pay zip card - just went in and bought a $200 GC and can see the $40 credit on my zip account
at least you know your vision is good
Could you please point to where it mentions that?
I went to the app, found the promo, clicked on it and there's the small print.
Isn’t the minimum rewards balance goal $20 (rather than $30)? Mine in the app showing at $20.
Yes reduced to $20 now.
Thanks!
Thanks! Updated
is it still redeeming in $20 (previously $30) chunks?
yes
Finally a decent zip deal. Its been a while. Still holding out hope for them to bring back 10% super saturdays.
stay strong
respectful fist bump
We can only hope. Their share price is <10% of peak, not hopeful…
Don't worry, they'll do another capital raise again soon.
Buy a $200 item and refund as a gift card maybe? Don't quite know how those sort of swaps are transferred.
I reckoned they will just refund via the original payment form, which in this case, zippay.
Last time when I tried a refund, they told me it had to be back to original payment, instead of issuing gift cards.
But sometimes, I'm offered with gift cards for refund.
Not quite sure about the standard.
Went to jbhifi north sydney one of the store person told me they don't price match amazon.com.au as they don't have physical retail outlets bit disappointed 😒 may be my bad luck.
Done plenty of times. Catch also has same price but they will try to add delivery. You could also try another store, call them before going in.
That's lots of bullcrap. Ask them to point out where in the T&Cs that it has to be a physical store? I've done plenty of times no worries. Just make sure it is sold by Amazon Commercial though.
https://support.jbhifi.com.au/hc/en-au/articles/360053193014…
I've had JB price match amazon multiple times. The only time they didn't was when amazon didn't have stock immediately available and were doing backorders for an item.
that is a lot of BS… get that person's name, complain to the store manager and take it to social media..
What’s good to get from jb atm
I just purchased a $200 gift card with the Zip single use card and received the cashback immediately
Nice. So effectively a 20% discount. Too bad I bought my Apple Watch series 7 there last week.
Thanks for confirming, worked fine for me too using single use card.
thanks nice workaround
Could u let me know did u purchased online or instore?
online here - select “nominate value” and put in $200. checkout as usual but when paying, use your Zip card details, which can be found in the Zip app
Many thanks, Mate, I will try later.
thanks skido. can confirm it worked for me online as well. got cashback immediately.
Ditto, thanks Skido.
got email from jb saying order was cancelled as it failed the verification process. the $200 is back in zip with an additional $40 that i redeemed. free $40? hope they dont take it away :D
Why did it fail? Anyone else have this problem I’m very interested in this offer as got stuff to pay for in jb store and getting this cash back helps but not if it fails or extra amount is taken back as does say excludes cards.
@bwatt72: No clue sorry. This is the email I got.
Hi xxx,
Unfortunately, your recent order of $200.00 has failed our verification process and been cancelled.
We have not processed any payment
However please note that a pre-authorisation may still appear in your account as a pending transaction which is usually released by your bank within 1 - 3 business days.
Why has this happened?
Our verification process is crucial in protecting your online purchases with us. The verification of online orders is a necessary measure for the type of goods you have ordered due to the frequency at which illegal transactions are made by unauthorised persons, who are not the original cardholder.
. incorrect name, email address, address details or use of characters/symbols in the name fields
. you purchased from overseas (some products can only be purchases from Australia or New Zealand)
. the country your credit card was issued from
. you used a VPN or proxy IP during checkout
For more information on how we process order cancellations, please see Section 6 of our terms of sale.
If this was a mistake: Please email [email protected] with your order no xxx so we can help out as soon as possible.
The JB Support Team
@bargain4all: pretty sweet considering I just have $40 extra in my account without forcing me to spend it at JB
I put one through on my zip pay and it worked fine. Put one through today on my wife's card and it failed. Got into a bit of an email exchange with someone at JB but net result was it failed and i need to put through again to buy which means i won't get the zip bonus the second time. The $40 rewards went through and are still on the account. Will take a look next week and see if they drop off when the pending transaction does.
Missed yah and on to it :)
Thanks, just did this and got cashback reward immediately. Still waiting for the gift card to come through.
My gift card email just arrived now, 18min after the order confirmation email
Just received mine. 22 minutes after purchase confirmation.
Did you do it online or bought physical gift card from store?
confirming worked for me as well at 1:30pm and got the giftcard 20mins later using the single use card. "cashback" reward was in app instantly
Confirming that I did the same and everything has been smooth sailing so far.
I purchased a $200 gift card and it got rejected by JBhi Fi. Here is the email:
"Unfortunately, your recent order of $200.00 has failed our verification process and been cancelled."
Thank you so much skido! Worked for me I think. Redeemed the two $20 credits. Have received email that gift card is on the way.
Was able to sign up Zip pay for this, then followed instructions as advised by the comments here for the JB GC, $40 reward came instantly and redeemed shortly after.
Thanks OP and skido!
Anyone know if this works for JB solution?
$ZIP to the moon…NOT
Yes
BNPL is not a "bargain"! someone pays for those corporate profits. guess who?
Corporate profits? Haha Zip makes losses.
Corporate profits was so 1990
Corporates should not be making a chunk of profits… look at apple 🍎 who are sitting in billions of cash… they should reduce their prices for the average consumer.
Remember to pay the full amount by ZIP's due date to avoid paying the $7.95 monthly account fee. This is the reason why I will choose Afterpay or Latitudepay before using ZIP as the others don't charge a monthly account fee if there is any outstanding amount.
with zip, you get more time to pay - up to 60 days
Apple watches are $50 off already, so a 45mm aluminium GPS model comes down to $559 with this deal; $90 cheaper than Apple. Probably not the cheapest there's been but doesn't sound too bad.
Only once? Or I can just do it multiple times?
Is the gift card option failing or working as seems people have failed to get to work or still waiting for gift card.
And the steps you used to make it work obviously select value of gift card then what select zip as payment but when you do does it let you select the zip card details I just not sure if zip goes right through and completes or you get options to add zip card in the process.
Would you not just use the zip card details right off the bat I’m confused.
Worked for me. Received gift card email 22 minutes after purchase confirmation.
You don't select Zip as payment. At checkout, you input the card details that you generated form your Zip App (single use card)
Did you need to click through any apps or anything to work or just go in jb order card and pay with zip
No, I used my desktop computer. Only apps needed is the Zip app so you can input your single use card details at checkout
@brandogs: Cool so far have jb tax invoice waiting on jb card and says $40 to redeem I see if gift card comes through from jb.
When redeeming the $40 I take you have to do this twice as only say’s $20 I assume you do this twice to get the $40
@bwatt72: Yep it gives you 2x $20 rewards that are redeemable. Redeem them both now from your Zip app
Anything else we can bundle this with boost the value? Ohh JB, you've done it again….give us a discount code!!
Bought Apple airpods priced matched at JB for $279 - 40 = $239 not bad.
Who did you pricematch with
Wow this is not Australian model. Shipped from overseas. How did they pricematch??
BrownManWalking on 27/04/2022 - 08:20 Comment score below threshold.
