Make use of a Citi Flex Loan to take back money against your borrowing limit

Make use of a Citi Flex Loan to take back money against your borrowing limit

Make use of a Citi Flex Loan to take back money against your borrowing limit

Citi allows select cardholders just simply just take down financing against their bank card at a hard and fast price

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Citi Flex Loans enable qualified cardholders to free some cash up against their borrowing limit and pay it back at a set price. Here’s what you should understand.

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A Citi Flex Loan can be a great option for making fixed payments – especially if you can score a low interest rate if your credit card APR is high and you are hesitant to carry a balance. Keep reading to find out more about how these loans work.

What exactly is a Citi Flex Loan?

Citi Flex Loans are an original providing from Citi, permitting credit cardholders to just just simply take a loan out with a hard and fast APR as much as the total amount of their borrowing limit. Plus, there is online payday loans Tennessee absolutely no origination charge, and you may pick from a few repayment term lengths. Cardholders should be targeted for just one of those loans, however they can realize your desire to select their loan quantity and re payment timeline predicated on their instant requirements.

If you’re a Citi cardholder with a big purchase to make or unforeseen fees to repay, a Citi Flex Loan may be a powerful way to leverage your present personal line of credit and spend over time. Flex loans don’t need an additional application or difficult pull to your credit and may become more available than a typical personal bank loan.

Suggestion: Citi recently announced a Citi Flex Pay partnership with Amazon, that will allow cardholders to settle big purchases that are amazon time utilizing their Citi card and potentially spend less on interest. Qualified cardholders can decide between various equal payment plans and marketing APRs in line with the measurements of the purchase.

What sort of Citi Flex Loan works? To get a Citi Flex Loan, you need to first get an offer for the solution from Citi.

You might experience a advertising marketing that loan whenever you log on to your Citi account, or perhaps you could easily get a message promoting an offer tailored for your requirements.

When you haven’t received a targeted offer for a Citi Flex Loan, you can easily sign in here to test for just about any available offers. Unfortuitously, don’t assume all cardholder shall meet the requirements.

When you do find an offer – while the APR works in your favor – then you can certainly start to modify your loan terms. Citi cardholders can choose that loan quantity with no less than $500 and at the most their borrowing limit (unless Citi has personalized another optimum amount predicated on creditworthiness). You could pick your payment term, from year to 60 months. Citi gives you your payment per month according to the terms you input.

Must be Citi Flex Loan is connected to your charge card, making your payments that are monthly extremely simple. The re payment quantity only will be included with your minimum card repayment each thirty days.

Nonetheless, the tie between flex loans and card payments does come with a few disadvantages. For instance, if you’d want to reduce a number of your loan early, you can expect to first need to pay the balance off in your card for the month.

It is because Citi payments made on a merchant account with both a declaration stability and an ongoing flex plan are addressed by having a priority that is highest-apr-first. Therefore, assuming the APR in your flex loan is gloomier compared to the APR in your card balance, your repayments are first put on the card stability then towards the flex loan. This implies cardholders looking to pay off their loan early will need to think about every other card financial obligation they’re holding.

Suggestion: even when your Citi Flex Arrange APR is more than your card’s APR, you can easily still avoid interest in your card stability by having to pay your declaration stability in complete. Though its real your repayment will likely be first put on the flex loan (since it has a greater APR), Citi nevertheless treats the repayment just like you paid your complete card stability.

Keep in mind that the next declaration might show that you might be holding a stability on your own card, as your re re re payment ended up being placed on the mortgage alternatively. But, you won’t be charged interest as you are holding a balance so long as the re re payment into the APR that is highest fits your overall declaration stability.

Citi cardholders also needs to keep in mind that dealing with a Citi Flex Loan against their credit limit will lower exactly how much they can placed on that particular card in a pinch.

Should a Citi is taken by you Flex Loan?

Since Citi Flex Loans could be offered based on your borrowing limit, there isn’t a pull that is hard with all the loan.

nonetheless, you ought to very very carefully start thinking about benefits and drawbacks of taking right out a Citi Flex Loan against taking right out a unsecured loan if you’ve got a big cost coming.


  • Quick access to financing as much as your credit limit
  • There’s absolutely no credit check needed
  • It is possible to get a lesser APR than your charge card
  • No origination cost like with a conventional loan that is personal


  • APRs may be greater than standard loans that are personal
  • Needs to be targeted for an offer ( perhaps not open to all cardholders)
  • Minimises your available credit
  • Can adversely affect your credit utilization ratio

Relating to Bankrate, personal bank loan prices typically vary from 6 to 26 per cent dependent on your credit rating.

Therefore, in the event that you have actually top-notch credit, it’s possible it is possible to secure a far better rate of interest in the event that you choose for a far more old-fashioned personal bank loan. Though you’ll most likely pay an origination cost and suffer a difficult pull to your credit, an individual loan might help save you more over time.


While Citi Flex Loans usually carry a greater APR when compared to a unsecured loan, they feature great reassurance to Citi cardholders who require funds in a pinch. You are able to leverage your overall borrowing limit to just simply take away that loan without a tough pull to your credit and spend it down in fixed amounts as you spend your bank card bill.

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