When placing your order using Zip, you will be asked to enter how much you plan on spending for your order. The amount you enter here, called your "Purchase Request", determines the funds loaded onto your one-time Zip Virtual Visa Card and must be equal to or greater than your order total (including shipping and taxes).
Upon completing your Zip order, this one-time Zip Virtual Card will be charged the cost of your order, and Zip will charge your personal card the first installment - 25% of your order total - displaying your remaining three payments and their charge dates, which are each two weeks apart. This includes at least a $1 installment fee.
Note: After a Zip Virtual Card is used to pay for an order, it should not be used for additional orders. On your next order, simply repeat the same process, creating a new Purchase Request and Zip Virtual Card (so long as it is covered by your available Zip spending power; i.e. - "available balance").
For more information on how to place an order using the Zip App, please visit this article.
*See payment terms. A higher initial payment may be required for some consumers. CA resident loans made or arranged pursuant to a California Finance Lenders Law license.
*A $500 purchase might cost $126/payment over 4 payments with a 13.88% APR* for a total payment of $504.
*The annual percentage rate is based on creditworthiness and is subject to credit approval. A $4 origination fee is charged at commencement - you pay $1.00 of this fee as a prepaid finance charge when you make your initial payment today. The remaining $3.00 is included in your future payments. This results in, for example, 4 equal periodic payments of $126 per $500 borrowed for a rate of 13.88% APR. Minimum purchase of $35 required. Estimation of installment payment and annual percentage rate excludes potential tax and shipping costs. Zip Pay Anywhere financing through Zip issued by WebBank, member FDIC and subject to credit approval.