Zebit advertises as a platform that provides a radically better financial alternative to all customers. Basically Zebit is a “credit provider + merchant” – a platform that gives you access to credit, allowing you to buy now and pay later in its marketplace.
Radically better? Zebit explains that unlike regular credit providers, it does not come with interest and other charges that can easily plunge users into a cycle of debt. The big question is whether these are just advert blurbs, or whether using Zebit for purchases is really worthwhile. For example:
As a credit provider: Can you really get interest-free credit towards making purchases? What penalty charges apply? How is the payment schedule determined?
Yes, Zebit is legit. It is not a scam because there is no rip-off reports or complaints that they do not ship items, as of writing this review. However, our findings below have a lot of hidden facts you must know before trying to purchase from the store.
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As a merchant: What products does it support; does the marketplace where you can use the obtained credits hold a wide range of products? What about its pricing; hope competitive pricing is not sacrificed on the altar of interest-free financing? Does it offer top services that we’ll expect of the ideal eCommerce platform (such as easy ordering, fast delivery, easy returns, effective customer support service, etc)? In the first place, is Zebit legit to only a set of buyers, or is it just another scam online platform that’ll rip off unsuspecting customers?
This Zebit review will examine Zebit in order to provide the information that will help you answer these questions and more.
Zebit is an online store that was founded in 2010 by Marc Schneider (then COO of Zulily) and Michael Thiemann (then CEO of Global Analytics Holdings).
Almost everyone has purchase needs, which means they need access to credit. That is why there are cash loan products. But as the founders of Zebit rightfully observes, many of the leading products in the market are overrun with predatory practices like high-interest rates and penalties, which can easily pitch users into a cycle of debt.
Zebit says it was founded to provide a radically better financial alternative to all customers. Explaining this, Zebit says it believes that everyone deserves access to lifelong, interest-free credit. When setting up Zebit, the goal was to introduce a consumer-friendly version of the lending products so that anyone in need of access to credit can access credit without the predatory high interest, penalties, etc.
However, while Zebit is a credit provider, it is not a cash lender. It provides store credits which can be used to purchase anything in the Zebit Market. Thus, Zebit is a merchant, albeit one that gives non-predatory access to credits, allowing members to buy anything in the marketplace now and pay later without ever paying any interest. Even if you are one that pays in full, with Zebit, you can make large purchases and spread the payment over time. Thus, Zebit is a fusion of a financing platform and a merchant.
Just as with every credit provider, you’ll have to register and fill out a short application. If your application is approved, you’ll be given interest-free store credit (called ZebitLine in the platform) up to $2,500, which can be used to finance purchases in the Zebit Market.
However, ZebitLine cannot be used to finance the total cost of your purchase. At checkout, you’ll be required to make a 25% down payment with a credit/debit card, while the remaining 75% is financed by your ZebitLine. Since ZebitLine is basically an interest-free loan, the 75% of the order total financed by ZebitLine will have to be paid back over the next 6 months. The payment will be divided up by the number of pay dates you have in the 6 months period. This means that the number of payment will vary depending on your pay frequency.
Every time you pay with ZebitLine, the store credits approved for you is reduced by the amount financed; and this will be replenished when you have paid off the order.
Every day we hear reports of persons being ripped off by scam platforms. Thus, when it comes to using online platforms, efforts should go into determining that it is legit.
Our first check of a legit platform is usually legality. This is because an online eCommerce platform that is 100% legal is less likely to be legit. Thankfully, Zebit ticks the legality box. The website is owned and operated by Zebit Inc, which is a 100% legal company registered in the US. Also, it has received investment from top financing institutions as Leapfrog Ventures, Ulu Ventures, Wildcat Ventures, Crosslink Capital, and more. Suffice it to say that scam stores do not get legal company registration certificates, and definitely cannot obtain financing from top institutions.
Another check of a legit online platform is visibility and industry wide recognition. This is because the scam stores largely operate in the shadows. Thankfully, Zebit ticks this visibility box. Owing to its model as a 0% interest provider of credits towards purchases, it is quite popular among online shoppers. Also, Zebit has been nominated for many awards, and has managed to clinch some, including the San Diego Business Journal “Best Places to Work” award, Benzinga Global Fintech awards, San Diego Fastest Growing Private Companies award, and many others. Suffice it to say that a scam platform cannot earn the recognition of so many industry followers and watchers alike.
Another check of a legit online platform is the test of time. This is because the scam stores are usually short-lived. In this era of fast communication; anyone ripped off by a scam platform can easily spread the word. And with such exposure, the platform will see less and less of traffic, and will naturally die. Thankfully, Zebit passes this test of time as it was established in 2010. Suffice it to say that a scam store just cannot continue ripping off people for almost a decade.
However, the ultimate check of a legit online platform is fitness for purpose. Since Zebit functions as a credit provider and a merchant, it’ll be fit for purpose if it actually furnishes members credits towards purchasing items, and members who use this credit in the marketplace will actually get delivery of real and functional items. Thankfully, Zebit ticks this box. It lives up to all its promises; it gives members credits up to $2,500, and when used to finance purchases in the marketplace, members receive delivery of their orders.
With Zebit operated by a 100% legal company, having industry-wide recognition, and having almost a decade long operating record of providing interest-free credits to members (which allows them to buy now and pay later), there is no doubt that it is a legit online platform.
Yes, Zebit is also safe. It is not enough that an online platform is legit. You’ll also want it safe in protecting the sensitive data that you share with it. For example, when using Zebit, you’ll share sensitive data such as contact details, Social Security Number, credit card numbers, and more. Needless to say, you’ll not want such data leaking into the hands of unauthorized third parties.
In this regards, Zebit says that the sensitive information that it collects from you is protected and securely encrypted with the same security standards as financial institutions. This can only be SSL (Secure Sockets Layer) technology. This technology creates a private channel between your device and the servers of the platform, thereby shielding off unauthorized third parties; and every data transmitted is encrypted using high-level encryption protocols. Zebit adds that it does not resell any of your contact or personal information to third parties for any purpose
That said; it is safe to say that Zebit is safe.
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As mentioned before, Zebit is a credit provider plus a merchant in one platform. If you place Zebit with the regular credit providers, it will fall short in that the credit it provides can only be used in the platform.
The only way to soften this blow is for the Zebit Marketplace to hold a wide range of products, so that whatever you wish to purchase, you’ll find it listed. Thankfully, Zebit does relatively well in this regards. The marketplace comes out as a one-stop-shop that holds a wide range of products. The product categories (and the items you’ll find in each category) are as follows:
Just as you’ll do in any other eCommerce store, simply browse through the product categories to discover an item. Clicking on the item will take you to its description page, where you’ll find a few detail of the product. You’ll also find a “Register Now” button.
If you successfully registered and you were approved, you’ll have your store credits (ZebitLine) in your account. Log in to your account to continue the purchase. You can then click the Per Price payment or In-full price, depending on whether you want the Zebit financing or want to cover the full cost of the purchase.
Using Per Payment, your order detail will show how much down payment you’ll have to pay with your credit/ debit card, and your payment schedule. The payment will be divided up by the number of pay dates you have in the 6 months period. This means that the number of payment will vary depending on your pay frequency. When you complete the order, you’ll receive an email confirmation.
Many times, customers have a change of heart after placing an order, and will want to cancel or modify it. For that, stores that allow order cancellation usually come out attractive. Zebit does not come out strong in this regard, as it does not allow customers to cancel once an order is placed. So before submitting your order, you’ll have think hard about it and be sure that it is what you want.
Technically, Zebit operates already as a financing option, as it allows you to buy your favourite brands now and pay later at 0% interest. However, in Zebit’s commitment to its mission to “provide a radically better financial alternative for all customers”, it offers added financing via its Deferred Shipping feature.
Using Zebit, customers are allowed to pay only 25% of the order cost at checkout, with the remaining balance to be paid over the following 6 months. Such financing plans exist to help customers that cannot cover the full cost of the order at checkout. However, what if the required down payment is still too steep? That is where the “Deferred Shipping” added financing option of Zebit comes in. The “Deferred Shipping” allows you spread the order’s 25% down payment into three equal payments. The only catch is that the item will not ship until the complete down payment is paid.
If you select deferred shipping at checkout: you’ll have to pay one-third of the down payment; one week later, you’ll have to pay the second one-third; and another week later, you’ll have to pay the last one-third. After this final payment of the order’s down payment, the item is processed and shipped; then you’ll pay the remaining order balance over 6 months according to your pay schedule.
When using “Deferred Shipping”, if a down payment is not collected on its due date, or if the item (that payment is towards purchasing) goes out of stock, the order is cancelled, and all previous payments will be refunded. This Deferred Shipping feature offers even more flexibility, especially where the 25% down payment would have caused financial strain.
Zebit shout it from the rooftops that it is an interest-free credit provider. Saying that the many credit providers in the industry features predatory high interest and penalty fees that can plunge users into a vicious cycle of debt, Zebit comes out as a radically better financial alternative to all customers.
Saying that everyone deserves access to lifelong, interest-free credit, Zebit explains that its goal is to be a consumer-friendly version of the lending products so that anyone in need of access to credit can access credit without predatory high interest, penalties, etc.
Thus, one of the good things about Zebit is that it charges zero interest. When you make purchases in the Zebit marketplace and finance it with ZebitLine, the total amount you’ll pay at the end will equal the price of the item purchased plus shipping charges.
Also, Zebit does not charge late fees. For example, if the Deferred Shipping added financing option is used, any failure to pay on a due date will not lead to a lateness fee being incurred, but a cancellation of the order and a refunding of previous payments. In the first place, to use Zebit, there are no such things as application fees or membership fees. So there are no hidden fees whatsoever.
Another thing you’ll hear that is a plus of Zebit is that it does not do “credit checks”. Actually, it’s impossible for a credit provider to not do any form of credit check, because some form of check is necessary to determine your creditworthiness.
In fact, Zebit itself does not say there will be no credit checks. Rather it says that no FICO score is needed. Thus, while Zebit will validate your identity and income, it does not pull a credit report from any of the major credit bureaus, and so does not do anything that affect your FICO score. This means that Zebit remains attractive to even persons with limited or checkered credit history.
The focus of Zebit is providing interest-free financing allowing you to buy now and pay later. However, it also supports a regular purchase. So, if you’ll rather pay-in-full when making purchases you can still buy in the Zebit marketplace. For that Zebit features two prices – Per Payment price and the In-full price. To pay your order in-full, simply use the in-full price.
The auto-pay feature is to ensure that you do not miss a payment when repaying your “loan”. As its name suggest, if it is applied, Zebit will automatically charge you anytime your repayment is due as set out in the payment schedule.
You can select auto-pay at checkout. If you’re making manual payments, you can select auto-pay from the “Make Payment” page of your account. However, if you want to opt-out of auto-pay, you’ll have to contact the customer care of Zebit either via email or telephone.
Make no mistake, when everything is stripped off, Zebit is an online shopping destination. Its selling point is that when you purchase your brand name items in the platform you have the ability to pay overtime at 0% interest. This raises the question of whether the items are competitively priced.
In this regards, Zebit answers that it compares its products’ prices with dozens of online retailers in order to give its customers a fair price. It also explains that on many products, unlike many retailers that markup their prices by 40 – 60%, it set price to get minimum profit and pass the savings to customers.
However, while it’s clear that Zebit is competitively priced in some product categories (like Fragrances) you’ll find that it is not the least cost store is other categories.
You won’t want to get to checkout and find that you cannot use any of the supported method to pay for your order. Thus, the ideal online shopping destination should support a range of convenient payment methods.
Zebit does relatively well in this regards, as it supports credit cards. When using the Per Payment, you’ll have to pay the down payment with credit cards, while the remaining 75% of the order total is financed by your ZebitLine. When repaying the “loan”, this will also be via your credit card. If you choose the option to pay in full, you can also make the payment using your credit card.
When you place an order in an online store, the package will have to be shipped from the platform’s fulfilment centre to your shipping address. Thus, shipping is an important consideration in online purchase; and some of its important elements are shipping destination, delivery times, and shipping costs.
Except an online store ships to you location, it’ll be unnecessarily difficult to receive delivery of your orders. Thus, one of the first things to check out for in an online store you are considering using is the country it serves.
In this regards, Zebit says that the website is provided for use only by persons located in the United States. Since everyone everywhere needs access to credits, this is somewhat disappointing.
Customers typically do not like waiting for long to receive delivery of their orders. Thus, the ideal online shopping destination is one that features fast delivery of orders. Delivery time is usually made up of order processing and shipping time.
Order processing time is how long it takes from when you place the order to when the item ships; while shipping time is how long it takes from when the item ships to when it arrives at your door.
Zebit advertises that it’ll take 7 – 10 business days to receive your order from the time of order placement. Zebit does not have a warehouse. It uses a network of suppliers to ship products directly to customers; and it says that all items ordered typically ships within 72 hours of order placement. If you’ve seen reviews of the regular ecommerce stores, Zebit’s order processing time of 72 hours is relatively fast. Also, this means that shipping time in Zebit is 4 – 7 business days.
However, these times apply to only physical products; electronic products like e-gift cards are processed every day, and are sent to your email address. This is typically within 4 – 8 hours for orders placed before 5pm (Eastern Time), but if the order is placed after 5pm (Eastern Time), Zebit delivers the gift codes to your email inbox following day.
Shipping costs usually add to the item price when calculating total cost of an online purchase. Thus, shipping cost when too high can easily make an item that is acceptably priced too expensive to acquire. That said; shipping charges should be as low as possible.
In this regards, Zebit does not so-so. Zebit does not have a central warehouse. So items purchased in the platform ships to the buyer directly from partner suppliers. Thus, shipping charges vary depending on many factors. These include: distance between your shipping address and supplier’s facility, shipping prices set by the supplier, type of material purchased, etc.
However, when buying e-certificates, Zebit charges an 18% handling fee.
One drawback of online purchases is that sometimes the order is overwhelmingly unsatisfactory when it is received. This is put down to not being able to physically assess the item before completing the purchase. That said; so that they’ll not be stuck with unwanted items, customers gravitate towards online stores that’ll allow them return any item that is not totally satisfactory, and get a replacement or a refund of payment.
Unfortunately, Zebit does not have the best return policy. It says that it cannot accept returns or exchanges on any item it sells within the Zebit Market unless explicitly stated otherwise. As expected when this is the policy, you’ll be hard-pressed to find any item explicitly allowing returns.
However, this does not mean that Zebit will push you damaged items and hide behind its no-return policy. If an item gets to you damaged or with parts missing, you can reach out to Zebit, and it will work with you to resolve the problem. However, you don’t have forever before you can contact Zebit. It will only work with you on a resolution for damaged orders if you contact it within 10 calendar days of receiving your order. “10 days from delivery” to contact Zebit is relatively okay, especially as there are some stores that only offers 3 days.
All e-Certificates sales are final. Furniture products have a somewhat different return policy as you can reject receipt of the products from the delivery agent. However, this is only when you find the furniture damaged or defective when inspecting it before accepting delivery from the delivery agent. If delivery is so rejected, Zebit will refund any amounts paid so far. However, if you miss any damage or defect during the delivery time but find these later, you’re required to contact Zebit immediately. However, in this case, Zebit will only assist with processing a warranty repair under the manufacturer’s warranty.
There’ll always be persons with questions, and there’ll always be customers who’ll have issues with their accounts/ orders. Thus, the ideal online platform should have an effective customer support service for answering the questions and resolving the issues that customers will have.
In this regards, online platforms typically provide self-help resources and contact support channels. Zebit does the same. For self-help, it provides a lot of support articles including an FAQ page. The FAQ is detailed as it covers a lot of topics; these include: Financing Options, eCertificates, Credit, Registration, ZebitLine, Account Management, Payment, Zebit Market, Shipping, and Returns. Thus, you’ll find that the FAQ answers many of the questions that you may have.
However, if it does not address your concern, you can directly contact a Customer Support Rep of Zebit via email or telephone. The email address to send your submissions is help@zebit.com. Zebit promises quick response to support emails. However, no matter how fast response comes, it sometimes cannot substitute instant feedback. Thus, it’s a good one that telephone service is available. You can reach out to Zebit on the phone using the number (855) 449-3248. However, the telephone service is not available round the clock. You’ll reach an agent between 9 am – 6pm (EST), 7 days a week.
This section is always a part of our reviews. This is because you can get valuable insight into how well a company operates by hearing what other customers have to say about it. For our complaints section, we usually check the top independent customers’ review platforms such as Trustpilot. Interestingly, Zebit was highly rated in these platforms. For example, at the time of writing this review, Zebit was reviewed by 2,858 customers in Trustpilot, and scored 4.6 out of 5.
Thus, you’ll find a lot of positive reviews. Customers expressed satisfaction with a lot of things including: always finding a good range of product, being approved and getting a good limit (of ZebitLine) even with bad credit, getting quality products, etc.
However, that Zebit did not get a perfect 5/ 5 rating means that there were a few complaints. These included long order processing time, and unfair internal policies.
One of the few complaints about Zebit is that it sometimes takes way too long after an order is placed before it ships. For example:
Long processing times almost always cause late delivery. So the few customers with this complain were not happy with the overall delivery time. However, it should be said that in many reviews customers expressed satisfaction with their delivery time. Thus, long processing time came out as a rare blip, and not a troubling norm plaguing Zebit.
Now, this is something that is not a rare blip. Some customers complained of having their orders cancelled even when they are model customers with regards paying up. For example:
As the reviews show, the problem is that Zebit has an unfriendly (at least to the affected customers) internal policy which has been dubbed the “house policy”. Zebit explains that its internal policies are established to prevent transactions that may result in a loss. In this case the policy is that where an account holder shares an address with another account holder who is in default, Zebit cannot allow orders to be processed.
This is a classic case of “guilt by association” – if you have a defaulter in your household, it doesn’t matter that you are the model customer, you orders will not be processed.
This is one of the most popular complaints you’ll find. Some even go as far as saying that Zebit may not be worthwhile, explaining that the total cost of using the interest-free Zebit platform may be more than using an interest-paying financing option because Zebit jacks up its listing prices with huge markups. For example:
To this, Zebit usually admits that it is not the lowest-cost provider; and it often mentions that you’ll find this evident in such categories as electronics, especially in Apple and Sony products. However, it promises that in some categories (such as fragrances) it actually offers lower pricing.
That said, in our opinion, a platform has got to make money. If you find the price lower in the regular stores; know that, unlike Zebit, these stores do not give you the opportunity to pay over 6 months.
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Zebit is a legit online platform functioning as a credit provider and a merchant. So if you want the ability to buy what you need now and pay later, Zebit is one worth checking. When you apply, you can get up to $2,500 in credit (ZebitLine) which you can use in the Zebit Market for your purchases.
The marketplace holds a wide range of products, so whatever you need, you’re very likely to find it listed. Zebit has many plusses – there are no application fees; though a credit check will be done, this will not affect your FICO score; it does not charge any interest, and there are no penalty fees, and it gives a whopping 6 months to pay up when you finance your purchase with ZebitLine.
However, a down payment of 25% of the order cost must be paid at checkout, as only 75% of the order can be financed by ZebitLine. Interestingly, added financing is offered which allows customers to spread the down payment (into three equal payments) over 2 weeks.
Some of the serious things to consider are that pricing is not always the best. In fact, in some categories, you’ll find listing prices in Zebit to be relatively high. Also, Zebit does not allow returns and exchanges. However, where an item was received damaged or defective, a resolution can be worked out if the company is contacted within 10 days of the delivery date. More so, the service of Zebit is only available to you if you are resident in the US.
Do you have any good or bad experience with Zebit? Kindly use the WRITE YOUR OWN REVIEW section below to tell prospective customers your Zebit experience.
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Everything about this company sounded great and I was was excited to place my first order. The order went through approval and something about prepaid cards caught my eye. They don't accept prepaid cards. Figuring they were referring to PREPAID CREDIT cards, I went ahead and entered my prepaid DEBIT Card info as a debit card takes the money instantly. My debit card is issued by a physical bank not a virtual bank. I was disappointed when it was rejected confirming due to it being a prepaid card. This limitation on method of payment should be disclosed BEFORE even opening the account or at least when choosing a payment plan. It is not mentioned until the very last minute and should be listed in your list of CONS about this company. On a positive note...I was excited to be issued a credit line and I I found some items in the ON SALE menu that were very reasonably priced. I didn't try, but now I am wondering if I opted to pay In full if it would acce
pt my prepaid debit card payment. I think I am going to try.
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