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  1. #11
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    Quote Originally Posted by babyno1onboard View Post
    Are there establishment fees or monthly fees with zip or afterpay? If so it would seem more expensive to use these services than upfront cash payment as interest rates are so low at the moment. Money in the bank earning interest or offsetting a loan isn’t doing much nowadays.
    This is a summary from the zip money site

    $6/ month fee - while money is owing one the account. Possibly a $25 establishment fee. Interest free period of 6-24 months depending on the promotion being offered.

  2. #12
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    We have a Zip money account for ivf and lucky for us i didnt get very far with it. 2nd scan showed one follicle so we got all the money back and we only owing Zip money $1000 or so. We will pay it off in the next few weeks. We also have 12 mth intrest free.

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    babyno1onboard (20-07-2019)

  4. #13
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    We use afterpay but only purchase things that we can afford to pay in the fortnightly repayments. We have had it over a year now & purchased quite a few things so far. We look at it like a short layby but get to take it home while paying

  5. #14
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    Quote Originally Posted by shadowangel0205 View Post
    Thanks for the replies.

    We have a "credit card", but have never paid interest and it's currently paid off in full, and in credit.... 4 months before the last purchases interest free period was due to expire. Actually it's a card we use at Harvey Norman and take advantage of the 6, 12 month interest free purchases. We don't have a physical card. We didn't activate it, nor is replacement. And just use the account number in store so aren't tempted for stupid things.

    There would be a $6/ month fee. Possibly a $25 establishment fee. Interest free period of 6-24 months depending on the promotion being offered.
    It would be paid off in full before it accrued interest, even if only 6 months, as we would still use the tax return to pay it off as soon as it's through.

    But as I said, we are currently still waiting on a payg summary/group certificate. ������������

    Normally I'd wait or save, but as I mentioned, they're discontinuing it, it's only current stock at the store. (1 of) and they can't order out in, and won't hold it.
    Those fees alone would stop me from doing it.

  6. #15
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    Quote Originally Posted by babyno1onboard View Post
    Are there establishment fees or monthly fees with zip or afterpay? If so it would seem more expensive to use these services than upfront cash payment as interest rates are so low at the moment. Money in the bank earning interest or offsetting a loan isn’t doing much nowadays.
    none with afterpay. there’s no way i would’ve gone for it if there were. the vendor cops the fees associated with using afterpay therefore you’d assume the fees are built into the price of the item.

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  8. #16
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    Quote Originally Posted by shadowangel0205 View Post
    This is a summary from the zip money site

    $6/ month fee - while money is owing one the account. Possibly a $25 establishment fee. Interest free period of 6-24 months depending on the promotion being offered.
    not worth it then i think. anything you’re paying an establishment fee for and ongoing monthly account fees isn’t worth it.

  9. #17
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    Quote Originally Posted by MLadyEm View Post
    I have a zip pay going for my thermomix. It’s a 24 month interest free offer. The direct debit I have set up will pay it off sooner than that though. While I had the cash at the time to pay it outright, it would have completely killed our savings buffer. I am generally agreeable to the consensus above though that if you can’t afford to pay for it then and there, then you probably can’t afford to buy it full stop. I think there is a difference to using Afterpay etc for a big ticket item as opposed to general/everyday items. I mean, $2000 is a big amount of money to part with in one hit, for example. And you can pay off a lot of big lump sums in instalments from holidays to dental treatment, so I don’t see how using zip/afterpay is any different in that situation.

    We have a credit card, but I rarely use it. DH uses it and I could not tell you the last time the balance was paid off. Annoys me to no end because that costs us way more in interest than the monthly Zip fee for my TMX.
    It’s interest free but you do pay $6 a month account fee which is $144 for 24mths.

  10. #18
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    Quote Originally Posted by babyno1onboard View Post
    Are there establishment fees or monthly fees with zip or afterpay? If so it would seem more expensive to use these services than upfront cash payment as interest rates are so low at the moment. Money in the bank earning interest or offsetting a loan isn’t doing much nowadays.
    Zip pay is $6 per month account fee while there is a balance owing.

  11. #19
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    Quote Originally Posted by amiracle4me View Post
    It’s interest free but you do pay $6 a month account fee which is $144 for 24mths.
    Which work out to be an interest rate of over 7%

  12. #20
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    Default Afterpay/zip pay/zip money...do you?

    I love afterpay!! It’s no different to laybuying something except you get the item now instead of once it’s paid off. I don’t have zip pay/zip money though. Afterpay has come in super handy- we buy our bulk meat pack through them through a local butcher, we gave our car a much needed service and new tyres, Xmas/birthday presents (particularly the more expensive items). There is no interest as such with afterpay- if you miss a payment you get an additional $7 fee added if it’s not paid within 1 week and another additional $10 if not paid within 2 weeks. Afterpay doesn’t do credit checks where as zip does. Zip is more akin to a credit card while afterpay is more like a take home layby. It’s convenient for us as it allows us to buy bigger items we may need but don’t necessarily have the funds to purchase in full at the time. You can only afterpay up to a certain limit at a time too- it varies a lot, some people have a limit of $1500, others $500.
    Last edited by SheWarrior; 20-07-2019 at 10:47.


 

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