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Financial

No Credit, Don’t Sweat It. This Service Helps UK Families Save Hundreds of Pounds A Year.

By Megan Mathers
PUBLISHED: 08:00, 05 October 2021 | UPDATED: 14:56, 07 October 2021

UK families are earning hundreds of pounds a year in cashback rewards when they shop with a Buy Now, Pay Later (BNPL) provider called Zilch.

Zilch’s cashback rewards rate is up to 5%, which is the largest rate of cashback rewards in the UK. There are no hidden fees or interest on purchases made using Zilch, and they are the only provider to offer their service in-store with Tap-and-Pay.

These distinctive features have made the fintech company’s user base one of the fastest growing in the country. Zilch has over 1 million users and that number grows rapidly every day. 

Here are a few reasons why.

Commitment to responsible lending

Andy Brennan, an upper sixth student from Hillingdon, is one of Zilch’s happy users. He says his parents encouraged him to use Zilch to start building his credit score early

 

“I really like how they used the information I gave them to calculate a responsible spend for me,” he says. “And since there’s no interest or hidden fees, I feel like I’m learning about good credit practice in a safe, low-risk way.” 

Customer First

Zilch maintains sustained growth in the fintech industry by constantly innovating new ways to support its users

Christina Marcello says the Snooze feature–which allows users to place a temporary pause on their payment plans for up to 4 days–is proof of this. 

“It’s amazing to feel like a company actually has your back,” she says. “Before I found Zilch, I was just so fed up with predatory lenders taking advantage of people who need their services to get by during hard times.”

Alternatively, the Zilch Boost feature affords users the ability to make purchases above their assigned spend with Zilch, provided they can cover the difference at the time of purchase. 

“They’re flexible that way,” says Christina. “It fits really quite seamlessly into my life.”

Student discounts

College students, graduates, and working professionals continue to use Zilch after they’ve applied for traditional credit cards, too. 

“I just love how I never have to worry about interest,” Maggie Winters from Birmingham says. “Oh, and the student discounts are amazing! Combine them with the cashback and you can save yourself a tonne of quid.”

Household savings

Many Zilch users cite ‘savings’ as their primary reason for loving the service

Edinburgh mother Ruth McCarthy says, “I never thought a credit service would actually help me save money, but last year I saved over £400 in fees and interest alone!”

Zilch Rewards

Without a doubt, the best-loved feature of Zilch is their cashback system, called Zilch Rewards. Users can earn up to 5% cashback when they pay in full for their purchase instead of choosing instalments. 

 

No other BNPL provider offers a rewards rate of 5%, and many customers use Zilch to take advantage of that program.

 

“Every year, my Zilch rewards help me pay for my holiday shopping,” says single mother Holly McCarron. “It’s amazing really. I just tap-and-pay for all my personal spending, at Tesco especially, and I end the year with enough to help buy a lot of great gifts for my kids and grandkids!”

 

Brighton newlyweds Elijah and Margaret combine their points for maximum rewards. 

 

We go on a romantic weekend getaway every year with our Zilch rewards,” Margaret says, while Elijah adds, “Being able to Tap-and-Pay in-store is a total game-changer because it lets us maximize our earnings.”

 

On average, a UK household could earn £870 in Zilch rewards in a year. Roommates Annie, Chelsea, and Devan from Leeds use their combined earnings to cover their shared entertainment costs. 

 

“We never have to argue like ‘Who’s got Netflix covered this year? Who’s getting Prime Video?’” says Devan. “Our combined Zilch rewards cover our subscriptions to almost every streaming service, even our group Spotify.”

 

Chelsea adds, “And we usually have a bit of extra at the end of every year, which we always use to have a wonderful night on the town together.”

Sign Up For Zilch

When asked about the signup process for Zilch, the users all agree it was simple, quick, and non-invasive.

“It literally took 3 minutes,” says Annie Chou.

Holly McCarron says she was worried the process would impact her credit score. “I always thought opening new credit lines was damaging, but Zilch only needs a soft credit check! It was utterly painless.”

With its long list of benefits and features, it’s hard to imagine why you wouldn’t choose Zilch as your BNPL service provider.

  • The highest rate of cashback rewards in the UK. The average family could earn £870 a year with this!
  • The only BNPL service provider to offer Tap-and-Pay for in-store instalment options.
  • Student discounts.
  • Zero-interest or hidden fees.
  • Proven commitment to responsible lending
  • Simple, quick, non-invasive signup process.


Please note:
During our interviews, we noticed that some users reported longer wait times during last season’s holiday rush. Zilch recommends new users sign up early to avoid long wait times. 

 

         Sign Up Today     
Meghan Mathers is a freelance journalist from London. Her stories covering innovations in the fintech industry have been published by news outlets across the country.