Just last year around Christmas time I decided to take a dive into the world of pay in 4 installments.
First I tried Klarna and then I decided to try Zip which was formely called Quad Pay.
Today I’m going to share with you guys my experience of using Zip.
I’ve been doing online shopping using Zip Quad Pay | Review
Zip is a pay in 4 app that you can use for a multiple of purchases from clothes to food to home decor to beauty products.
If you’re on a budget or if you don’t like spending a lot of money at once, you can use Zip to make purchases.
My personal experience with Zip Quad Pay
So I’ve been using Zip since March 2022 which isn’t a long time, but so far I have made 16 orders via Zip.
Honestly that does seem like a lot of orders, but considering I pay off my Zip payments way before the due date/4th payment.. it’s not so bad.
I’ve used it mainly for Walmart and Instacart because if you guys didn’t know… you can order groceries and even doordash / ubereats with Zip.
I’m not going to lie though I feel like honestly someone could definitely go into debt where they needed to pay a lot of money back.
This is why when I use Zip or any pay in 4 app I make sure that I can pay it off completely.
What was my Quadpay limit on Zip?
So I want to say my limit was $500 or $600 starting off.
Apart of me wants to say it was $500 and then increased to $600, but I could be wrong.
You can spend a maxiumum of $1000 based on what the Zip website says.
How does Zip work?
Pretty much I go onto the app and log in.
I go to the website that I want to use Zip on.
I plug in how much I plan on spending on the website which includes the amount I’ll use to cover taxes and shipping.
Then I confirm with Zip how my 4 payment installments will go.
For example if I have a $100 purchase at Walmart..
I plug in $100.. Zip will add on 4 bucks for the fee of using Zip (I assume) then I will have to pay $26 every 2 weeks until my 4 payments are made to complete my pay in 4 for Walmart.
I confirm this information for the payment plan and then Zip creates a virtual card.
I plug in the information on the virtual card into the website and confirm my purchase on Walmart then I receive a text saying that my purchase went through.
On the day of the purchase your first installment payment goes through so you have to make sure you have money in your bank account connected to your Zip app to cover the cost.
Then every 2 weeks you’ll pay the payment plan until you successfully pay it off.
My overall thoughts on Zip Quadpay
It can be useful, but you definitely have to be careful.
You have to make sure you’ll have the money you plan on spending when you use Zip Quadpay.
Don’t spend more than you can afford to otherwise you’ll land yourself in a hole where your credit score will be affected.
Be smart with pay in 4 apps.
They’re pretty much like a form of credit that you can use.
Be mindful of what’s in your bank account and the ways in which you’ll spend money when you use this as a form of payment.