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Rating by Finanso®

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.



About lender

Zilch (PayZilch and Zilch Technology) was established in England in 2018. Zilch offers a virtual Mastercard that lets you buy now and pay later (BNPL) at thousands of shops, such as Amazon, eBay, AliExpress, and Nike. Zilch is the UK buy now pay later (BNPL) company that is entering an increasingly competitive (BNPL) market in the United States. The company claims it has 150,000 pre-registered consumers in the United States.

According to the recent statement, Zilch has launched a US headquarters in Miami and expects to hire 100 employees.

Pros and cons


  • Multiple payment options. You can pay in one or four installments.

  • The latest version of the app is convenient to use.

  • There is no interest levied on purchases made through the retail network.

  • Zero-interest. Every acquisition made with the Zilch marketplace is interest-free.

  • Zilch Anywhere allows you to buy products outside of Zilch's network for a small fee.

  • There are no early repayment charges. Zilch will collect your payments every two weeks, but you can make extra payments whenever you like.

  • There are no late fees. You will not be charged late fees if you do not manage your scheduled installments.


  • Unpaid invoice are subject to debt collections.

  • Payment delays or nonpayment may be reported to credit rating agencies.

  • Paying in four in six weeks may be too short a repayment period for some customers.

  • Refunds become more complex with a 25% down payment.

  • Customers have complained about the difficulty in contacting customer assistance.

Terms and conditions

When the company gives you money for an "Approved Transaction," they pay the total price of the goods and services to the seller on your behalf. In exchange for this service, you agree to pay and give the company permission to take the funds from your debit card.

There is zero interest or fee. Interest and fees are not charged on the funding that is given out. If you want, you can pay back the purchase price before the above dates. If you don't think you can pay by the dates listed above, contact the company as soon as possible. If you don't pay on time or miss your payments, it will try to take the money from your debit card again in 24 hours and get in touch with you to discuss how you can pay. The company will keep trying to receive money from your card until they earn the total sum of payment. Any fee that comes in will be put toward the oldest payment first.

Any debt you owe the company can be used to pay off the debt they owe you at any time and without notice. If the company keeps trying to charge your card but fails, it has the right to send your late payment to debt collectors.

The company could report to credit reference agencies you paid late or didn't pay, which could affect your credit score. It could hurt your credit score, making it harder for you to get credit in the future.

Funding a loan

Zilch loans are issued by the Cross River Bank. After registration and verification through the company's site or the Zilch app, the service analyzes your creditability with a combination of soft credit checks and open banking data. It doesn't take long, and you get an email with your available money amount status almost immediately. You get a Zilch virtual Mastercard which you can use for making purchases through the phone.



Is Zilch available in the USA?

Yes, these buy now pay later (BNPL) services are available to Americans wherever Mastercard is accepted.

What is the Zilch maximum limit?

Zilch has an open limit. It's the maximum number of acquisitions you can make with pending installments. If you have used them all up, you must pay off an open purchase. Your open limit will refresh when you fully repay an installment purchase.

Does Zilch increase the credit limit?

Zilch will automatically increase or lower your credit limit based on your usage. If you're a frequent user who meets all payment deadlines and settles all transaction balances on time, your chances of having your available spending enhanced are better.

Can I pay with Zilch anywhere?

The brand's virtual card offers users allowing to pay with Zilch wherever Mastercard is accepted.

Company documents

Privacy Policy
Terms of use

Born to create the world’s most empowering way to pay.

© Zilch Technology Limited

What to focus on before applying for a loan with Zilch

To ensure the lender is legitimate, check if it meets the following criteria:

How do you know if a loan company is registered?

The lending company is registered with the US Securities and Exchange Commission (SEC) and has a tax identification number (EIN). Note that tribal lending companies operate under the jurisdiction of tribal laws, and they don't have to register with the SEC. But still, tribes must act under federal consumer protection laws enforced by the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC).

According to the FTC requirement, the lending company is registered in your state, excluding tribal lenders abiding by tribal and federal laws only. That is why tribal lending companies can charge interest rates exceeding your state's maximum.

Finally, the State Attorney General can verify the registration of the lending company if you need additional proof of whether it is legitimate.

If a US lending company scams you, please report to local law enforcement, your state attorney general, CFPB, or FTC.

Finanso® also recommends

Learn the total cost of a loan, including:

It will be best to read a loan agreement carefully before signing it. If any part of the agreement seems incomprehensible, do not hesitate to ask the lender about particulars.

Remember that you don’t have to make an immediate decision when considering getting a loan. However, you must be sure that you are ready to repay following your loan documents. If the lender’s terms and conditions are uncomfortable for you, you are free to search for another proposal, as there are about 780 lending companies in the US.

What’s the difference between Zilch and a bank?

  1. You need to have a good credit history to qualify for a credit card with a bank. In contrast, even bad credit history debtors can borrow money from US lenders with personal or payday loans. 
  2. Interest rates and annual percentage rate for a loan with an online lending company are significantly higher than with a credit card released by a bank.
  3. Applying for an online loan with a lending company doesn’t require paperwork or even visiting their office. Instead, a borrower can apply entirely online and receive money via direct deposit on the next business day.
  4. The online lending business is high-risk for investors, and their capital is not protected from unfair borrowers.
  5. A loan with legitimate loan companies for bad credit is a simple but expensive form of borrowing to resolve financial hardship.
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All Zilch’s reviews by October 2022
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