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Does Zilch Affect Your Credit Score?

Zilch is set to share data on your transactions with credit reference agencies. This means missed payments on Zilch can negatively impact your credit score, with the severity increasing the longer the payment remains overdue. Hence, it’s crucial to borrow only what you can comfortably repay and settle any outstanding debts promptly.

On the brighter side, consistently meeting your credit obligations, encompassing both Zilch and other providers, can enhance your credit score over time.

Credit Score with Zilch: What to Expect

Upon joining Zilch, the company conducts an affordability check to determine if you qualify for pre-approval. If you’re not approved, only a soft search is executed, which doesn’t affect your credit score. However, if you decide to proceed with Zilch and accept their credit agreement, a hard search is conducted, which will appear on your credit report. The key takeaway is to stay current with payments, as missed payments are the primary factor that can dent your credit score.

Anticipating Payment Difficulties?

If you foresee challenges in making a payment, it’s imperative to notify Zilch promptly. They may offer solutions like rearranging a payment plan or adjusting the payment date to accommodate your situation.

Discrepancies in Your Credit Score?

Regularly monitoring your credit report is essential. If you identify any discrepancies or inaccuracies, reach out to Zilch or the concerned company. Credit reference agencies can also assist in raising disputes on your behalf.

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