£5 Free Cash

For most squeezed optimisers, yes. Zilch is one of the more straightforward BNPL options in the UK because it behaves like a virtual Visa card rather than a checkout integration. That makes it useful for everyday spending you had already planned, where spreading the cost over six weeks or three months is a cash-flow nudge rather than borrowing to buy something you cannot really afford.

The £5 free cash sign-up bonus is a quick win. Easy to claim, no large spend needed, and the credit lands in your Zilch account quickly. I would treat that as the on-ramp rather than the reason to keep using Zilch long term.

Where I would be more careful. Don't use Zilch (or any BNPL) for purchases you cannot comfortably repay. It is regulated credit, missed payments do go on your credit file, and the model only works if you treat each Pay over 6 weeks plan like a four-week direct debit you have already budgeted for. If you are juggling other debts, this is not the right product for you.

For everyone else, Zilch is a genuinely useful spreading-the-cost tool with one of the stronger Trustpilot records in the BNPL category and an unusual no-late-fees policy. The credit-building feature, where Zilch reports payments to Equifax, Experian and TransUnion, is a real differentiator vs Klarna and Clearpay. Claim the £5, see if the model suits you, and use it deliberately.