Question 1

Zip credit requirements, you must:

Accepted Answer

Be 18 years old.
Be an Australian citizen or permanent resident.
Be employed and receiving regular income (certain pensions may also be accepted).
Have a good credit history.
Have your own valid and verifiable email address and mobile number.
Be a homeowner/homebuyer for credit applications of $5,000 or over.
Read more here for information on who can apply for Zip Money.

Question 2

How to use Zip:

Accepted Answer

Simply apply online (takes approximately 5 minutes).
Create a Zip account.
Choose the appropriate credit level and complete your application.
You will receive an approval or decline notification.
Select Zip at checkout.
Log into your account to set up a repayment schedule to suit your financial position.

Question 3

Fees & interest:

Accepted Answer

Zip Money is interest free, if you pay off your credit within the interest free period.
Standard interest rate of 25.9% applies after the interest free period.
The $9.95 monthly account fee is waived if you pay your balance by the due date.
If there's nothing owing on your account, there's nothing to pay and no fees.

Question 4

Repayments:

Accepted Answer

Choose from weekly, fortnightly or monthly payments to match your financial position.
Monthly repayments will vary based on your account's credit level.

Question 5

Changes & refunds:

Accepted Answer

Insight Vacations pays Zip Money a merchant fee per transaction.
Any changes or cancellations to your Insight Vacations travel arrangements do not affect your credit agreement with Zip Money.
Standard Insight Vacations cancellation and change of booking policies will apply. Please find full details here. If you are entitled to a full or partial refund, this amount will be credited to your personal bank account by Insight Vacations. You will be responsible for fulfilling your credit arrangements with Zip Money.
Read more here about repayments, interest and fees for Zip Money