Every so often, Citi can offer you the chance to create a Citi Flex intend to make fixed monthly obligations to pay off acquisitions or that loan against your card’s personal line of credit. There are 2 methods to develop a Citi Flex Arrange. With Citi Flex Pay, you are able to buy qualified deals under a Citi Flex Arrange. With Citi Flex Loan you can make use of your credit line to gain access to funds and pay for those funds under a Citi Flex Arrange.
A Citi Flex Loan is a Citi Flex Plan choice that enables one to borrow funds from your own current Citi charge card account’s borrowing limit and repay it at a hard and fast apr, in fixed monthly obligations over a collection extent. No split application is required.
Citi Flex Pay is a Citi Flex Arrange choice which allows you to definitely simply simply take a person charge card purchase and repay it over a collection extent with fixed re re payments and A apr that is fixed.
Yes, the Citi Flex Arrange quantity is dependent on the credit that is available your Citi bank card during the time you request your Citi Flex Arrange.
A Citi Flex Loan is paid back in fixed re re payments, over a group extent. It has a fixed apr that lasts through to the Loan balance is paid in full. In comparison, a stability transfer typically includes a marketing APR for a certain duration of time and becomes section of your credit card balance that is revolving.
A Citi Flex Loan will not demand a split application or credit bureau check. Funds are borrowed from your own Citi that is existing credit’s available line of credit. You’ll have one combined declaration and something minimal payment that is monthly your charge card account. A conventional individual installment loan is a different account and line of credit, and certainly will typically need a credit card applicatoin and credit bureau check.
Getting a Citi Flex Loan
- How can I understand if i will be entitled to a Citi Flex Loan?
We may, from time and energy to time, give you the opportunity to get a Citi Flex Loan. You can observe in cases where a Citi Flex Loan offer can be obtained to you personally via your Citi on line account. Citi Flex Loan provides might be presented on the Account Overview web web page or perhaps you may see available provides by picking the “Services/Credit Card solutions” option through the menu bar that is top. You might additionally phone Citi customer care to always check for available offers.
First determine when you yourself have any available provides via Citi Online or phone Citi customer support. If therefore, select your offer and select the payment per month choice that most readily useful matches your requirements. Your payment choices are considering your available repayment terms and asked for loan amount (up in to the optimum amount open to you whenever you request your loan).
No, there is absolutely no cost charged for requesting a Citi Flex Loan. Other account charges, such as for instance belated re re payment charges, may apply still.
The minimum amount you borrow with a Citi Flex Loan is $500. The most loan quantity it is possible to borrow using a Citi Flex Loan will change centered on your credit that is available limit creditworthiness along with other facets at that time you request a Citi Flex Loan.
You can travel to the Citi Flex Plan reputation web web Page or Citi Cellphone application to see the status of one’s Citi Flex Loan, your re re re payment history in addition to balance that is remaining your Citi Flex Loan.
In the event that you choose direct deposit, generally in most cases your Citi Flex Loan funds ought to be deposited to your banking account in 1-2 company times. Within 10 days if you choose to receive a check, you should receive a check payable to you.
Citi Flex Loans aren’t entitled to make benefits points or cash return.
Citi Flex Plan Servicing
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- So how exactly does a Citi Flex Loan show up on my declaration?
Whenever we accept your ask for a Citi Flex Loan, your loan will show up as a brand new citi flex arrange on the next declaration being a transaction posted in your statement for the complete number of the mortgage. You will find facts about your Citi Flex Loan, together with your initial and present balance ( at the time of the declaration closing date) and necessary payment due each payment period (your Citi Flex Plan Payment Amount), under “Citi Flex Arrange details” in your declaration. The Citi Flex Plan Payment Amount that you’re needed to pay each payment period shall show up on your statement in the Minimum Payment Due.
The Citi Flex Arrange Payment Amount that you’re necessary to pay each billing duration is roofed in your Minimum Payment Due, and it is due from the re payment deadline disclosed in your declaration. For brand new Citi Flex Plans, very first Citi Flex Arrange Payment Amount will contain principal only, then from then on, the Citi Flex Arrange Payment Amount should include interest costs in the Citi Flex Plan balance for the billing period and also a portion associated with major quantity.
No. You have to make just one minimal payment each thirty days in your account, which include your Citi Flex Arrange Payment Amount. Nonetheless, you may possibly decide to spend a lot more than the necessary minimal Payment Due, and you will make extra repayments on your account at any time.
There’s absolutely no prepayment penalty to cover down a Citi Flex Plan balance early. You may possibly spend your Citi Flex Plan off balance early whenever you want, but, re payments manufactured in more than the Minimum Payment Due should be used first to your stability on the account utilizing the greatest APR, then towards the stability utilizing the next highest APR, an such like. Because of this, so that you can spend down your Citi Flex Plan balance in full, you have to produce a re re payment that covers all the following quantities: the Minimum Payment Due for that payment period, the entire quantity of any bank card balances with an APR greater than or add up to the APR for the Citi Flex Arrange as well as the staying stability in your Citi Flex Arrange.
Yes. You can still avoid paying interest on purchases if you pay your Citi Flex Plan Payment Amount plus your statement balance (not including your Citi Flex Plan balance) in full by the payment due date shown on your statement each billing period when you have a Citi Flex Loan or Citi Flex Pay on your account. Keep in mind that your statement stability may include transfers of balance, when you yourself have any.
ESSENTIAL NOTE. In the event the Citi Flex Arrange APR is more than the APR on another stability in your account, it is possible to nevertheless avoid repaying interest on acquisitions by having to pay your Citi Flex Arrange Payment along with your declaration stability ( not as well as your Citi Flex Arrange stability) in complete because of the re payment date that is due. Nevertheless, the quantity above your Minimum Payment Due is likely to be placed on your Citi Flex Arrange stability before the other stability using the reduced APR. As a result, in the next payment statement, you might note that area of the other stability nevertheless continues to be due, and you’ll need to pay that quantity in your declaration stability in order to avoid paying rates of interest on acquisitions within the next payment duration.
Unless you first pay the Citi Flex Plan balance in full if you have a balance with a promotional APR that is lower than your Citi Flex Plan APR, such as a balance transfer, you cannot pay off that other balance. For instance, if you intend to spend down a stability transfer prior to the stability transfer marketing period expires, it is possible to just achieve this in the event that you first spend your Citi Flex Plan balance in complete, then spend your balance transfer in complete, prior to the stability transfer marketing duration ends.
Important Info
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