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

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

Citi allows select cardholders simply just take away that loan against their charge card at a hard and fast price

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Citi Flex Loans enable qualified cardholders to free up some dough against their borrowing limit and repay it at a hard and fast price. Here’s what you ought to understand.

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In case your charge card APR is high and you’re reluctant to carry a stability, a Citi Flex Loan may be a great choice for making fixed payments – particularly if you can get a reduced interest. Keep reading for more information on how these loans work.

What is a Citi Flex Loan?

Citi Flex Loans are a distinctive providing from Citi, permitting credit cardholders to simply just simply take a loan out with a hard and fast APR as much as the quantity of their borrowing limit. Plus, there isn’t any origination cost, and you may select from a few repayment term lengths. Cardholders must certanly be targeted for example of the loans, nonetheless they can realize your desire to decide on their loan quantity and re re payment schedule according to their needs that are immediate.

If you’re a Citi cardholder with a purchase that is large make or unforeseen costs to repay, a Citi Flex Loan could be a powerful way to leverage your overall personal line of credit and spend over time. Flex loans don’t need an additional application or difficult pull to your credit and that can become more available than a typical loan that is personal.

Tip: Citi recently announced a Citi Flex Pay partnership with Amazon, that may enable cardholders to settle big Amazon acquisitions over time utilizing their Citi card and possibly save well on interest. Eligible cardholders can choose between various equal payment that is monthly and marketing APRs on the basis of the size of these purchase.

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

You may experience a banner advertising that loan once you log on to your Citi account, or perhaps you could easily get a message advertising an offer tailored for your requirements.

You can log in here to check for any available offers if you haven’t received a targeted offer for a Citi Flex Loan. Regrettably, not all cardholder will meet the requirements.

When you do find an offer – while the APR works in your favor – then you can certainly start to customize 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 individualized another optimum amount according to creditworthiness). You may want to select your payment term, from one year to 60 months. Citi provides you with your payment that is monthly based the terms you input.

Must be Citi Flex Loan is connected to your bank card, making your monthly obligations is incredibly simple. The re payment quantity only will be included with your card that is minimum payment thirty days.

But, 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 certainly will first need certainly to pay off the stability on your card for the thirty days.

It is because Citi re re re payments made on a merchant account with both a declaration stability and an ongoing flex plan are addressed having a highest-apr-first concern. So, assuming the APR in your flex loan is leaner compared to the APR on your own card balance, your repayments are first placed on the card stability after which into the flex loan. This implies cardholders looking to spend their loan off early will have to think about every other card financial obligation they truly are holding.

Suggestion: Regardless of if your Citi Flex Arrange APR is more than your card’s APR, you can easily nevertheless avoid interest in your card stability by having to pay your declaration stability in complete. As it has a higher APR), Citi still treats the payment as if you paid your full card balance though it is true your payment will be first applied to the flex loan.

Keep in mind that the next declaration might show that you might be holding a stability on the card, as your re re payment had been placed on the mortgage instead. Nevertheless, you won’t be charged interest as you are holding a balance so long as the re re payment towards the greatest APR fits your overall declaration stability.

Citi cardholders also needs to observe that dealing with a Citi Flex Loan against their borrowing limit will lower just how much they can wear that particular card in a pinch.

Should you are taking a Citi Flex Loan?

Since Citi Flex Loans might be offered in accordance with your borrowing limit, there isn’t a pull that is hard aided by the loan.

nevertheless, you ought to very carefully think about pros and cons of taking right out a Citi Flex Loan against taking out fully a unsecured loan if you’ve got a big cost coming.


  • Quick access to financing as much as your borrowing limit
  • There’s absolutely no credit check needed
  • It is possible to get a lower life expectancy APR than your charge card
  • No origination charge as with a normal loan that is personal


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

In accordance with Bankrate, personal bank loan rates typically range between 6 to 26 % according to your credit rating.

Therefore, in the event that you have actually top-notch credit, it will be possible it is possible to secure a much better rate of interest in the event that you go for an even more old-fashioned unsecured loan. An origination fee and suffer a hard pull to your credit, a personal loan might save you more in the long run though you’ll likely pay.


While Citi Flex Loans frequently carry a greater APR than the usual loan that is personal they provide great satisfaction to Citi cardholders whom need funds in a pinch. You’ll leverage your overall borrowing limit to just simply take down financing without a difficult pull to your credit and spend it down in fixed quantities as you spend your charge card bill.


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