Can I increase or decrease my spend limit?

 

I want to increase my spend limit

If you have been consistently completing your orders without any late payments or refunds—excluding those related to Auckland Transport—you may qualify for an increase in your spending limit. This means that your responsible use of credit can lead to greater financial flexibility in the future. Zip will conduct a credit check to evaluate your credit score, which will help them determine if you are eligible for a credit limit increase. This process is designed to ensure that you are capable of managing a higher limit responsibly.

1. It is important to note that this type of credit check will not have any negative impact on your credit score. This means you can apply for a limit increase without worrying about damaging your creditworthiness.
2. Additionally, these credit checks will remain confidential and will not be visible to other lenders, ensuring your financial privacy is maintained while you seek to increase your credit limit.

If you would like to gain a deeper understanding of your credit score and credit history, we encourage you to reach out to Centrix. They can provide you with valuable insights and information that can help you manage your credit more effectively.

I want to decrease my spend limit

 

At Zip, we prioritize responsible lending and are dedicated to aligning our services with the needs of our customers. To maintain a healthy credit portfolio, we routinely assess our customers' profiles, which includes analyzing their payment history and the frequency of their purchases. This process is essential to ensure that the credit limits assigned are not only manageable but also within a range that our customers can comfortably afford. By doing so, we aim to foster a sustainable financial environment for everyone involved.
If you have noticed a reduction in your credit limit, it is likely due to a recent assessment of your account, which may have taken into consideration any overdue payments. We want to emphasize that this decision is final and cannot be altered at this time. We are committed to keeping you informed and will strive to notify you promptly regarding any changes to your credit limit as they happen.
It is important to understand that if you miss payments or default on your Zip obligations, your credit limit will gradually decrease. Therefore, we encourage you to make your payments on time to avoid any negative impact on your credit limit.
Should you wish to set a maximum limit on your spending, you have the option to do so directly through the Zip app. For detailed guidance, please refer to our article: How can I control my spend limit?.