Zilch Rewards – How Does It Work?

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If you’re looking to earn cashback on your everyday spending, you might have come across Zilch, a popular “buy now, pay later” service that also offers a unique cashback program. But how exactly does Zilch work, and how can you maximise your rewards? Let's break it down.

What Is Zilch?

Zilch is a UK-based fintech service that allows you to split payments for purchases into four installments, offering a flexible way to manage your spending. However, what sets Zilch apart from other similar services is its “Pay Now”option, which allows you to earn cashback on your purchases, even if you pay in full upfront.

How Does Zilch Pay Now Work?

With the “Pay Now” option, Zilch rewards you with cashback every time you make a purchase, either online or in-store. You can earn 0.5% cashback on every transaction, or 2% cashback with Zilch’s select retail partners, which cover the majority of shops online and in-store. There is no limit to how much you can earn!

Setting Up Zilch Pay Now

To start earning cashback, you’ll need to link your debit card or bank account to your Zilch account. Here’s how:

1. Go to Zilch Account Settings: Log in to your Zilch account and navigate to the account settings.

2. Link Your Debit Card or Bank Account: Follow the prompts to securely connect your payment method.

3. Start Shopping: When you’re ready to make a purchase, simply select the “Pay Now” option.

If you’re shopping with one of Zilch’s select retail partners, the option will clearly indicate that you’re eligible for 2% cashback. Otherwise, you’ll still earn 0.5% cashback everywhere else.

Ensuring You Get the 2% Cashback

To maximise your cashback, follow these steps:

1. Select “In-Store” or “Online”: Depending on where you’re shopping, choose the appropriate option within the Zilch app.

2. Search for Your Retailer: Use the search function to find your preferred retailer. If they’re a select partner, you’ll see the 2% cashback offer.

3. Choose Pay Now: Confirm that you want to pay now, and Zilch will process the payment from your linked debit card or bank account instantly. Your cashback will be credited to your Zilch account immediately.

This process is straightforward—Zilch handles the payment on your behalf and rewards you for using their service, with no extra requirements on your part.

How to Use Your Rewards

Once you’ve earned cashback, using your rewards is just as simple:

1. Search for Your Retailer: Whether you’re shopping online or in-store, start by searching for the retailer through the Zilch app.

2. Toggle On Your Rewards Balance: Before completing your purchase, switch on your rewards balance.

3. Complete Your Purchase: Zilch will automatically apply your rewards first, then charge any remaining balance to your linked debit card or bank account.

Does This Stack with Other Cashback Offers?

You might be wondering if Zilch’s cashback can be combined with other cashback opportunities, a process known as cashback stacking. The answer is yes, in certain situations. For example, one of our team members bought a £30 M&S gift card with 6% cashback through Widilo, receiving £1.80 in instant cashback. They paid for the gift card with their Zilch card (which earned 0.5% cashback, as Widilo isn’t a select partner), adding another £0.15 in cashback. In total, they purchased a £30 gift card for £28.05—a great deal!

Can I Add Zilch to My Apple Wallet?

Yes, you can add your Zilch card to your Apple Wallet. Zilch provides you with a virtual debit card that you can use just like any other card in your digital wallet. When you make a purchase, Zilch pays the merchant on your behalf and then bills you immediately. While Zilch makes its money by offering a “pay later” service, which may come with fees, using the “Pay Now” option is an easy way to earn cashback on purchases you’d be making anyway.

Does Zilch Run a Credit Check?

Because Zilch offers a “buy now, pay later” option, they do perform a soft credit check. However, this soft credit check won’t affect your credit score. It’s simply a way for Zilch to assess your likelihood of repaying purchases if you opt to use their financing feature.