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

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

Citi allows select cardholders just simply just take down that loan against their charge card at a rate that is fixed

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Citi Flex Loans enable qualified cardholders to free up some money against their borrowing limit and repay it 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 take a loan out with a hard and fast APR as much as the quantity of their borrowing limit. Plus, there’s no origination charge, and you may select from a few payment term lengths. Cardholders must certanly be targeted for just one of those loans, nonetheless they will have a way to decide on their loan quantity and re payment schedule centered on their needs that are immediate.

If you should be a Citi cardholder by having a big purchase to make or unanticipated fees to repay, a Citi Flex Loan could be a great way to leverage your present line of credit and spend over time. Flex loans don’t need an additional application or difficult pull to your credit and will be more available than a regular personal bank loan.

Suggestion: Citi recently announced a Citi Flex Pay partnership with Amazon, that may enable cardholders to settle big Amazon acquisitions over time employing their Citi card and possibly save well on interest. Qualified cardholders can select between various equal payment per month plans and marketing APRs in line with the size of these purchase.

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

You might view a advertising advertising financing once you log on to your Citi account, or perhaps you may get a contact advertising an offer tailored for you.

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

Should you choose find an offer – while the APR works for you – then you can certainly commence to personalize your loan terms. Citi cardholders can pick that loan quantity with no less than $500 and at the most their borrowing limit Citi that is(unless has another optimum amount predicated on creditworthiness). You could pick your payment term, from year to 60 months. Citi provides you with your payment that is monthly based the terms you input.

Just because a Citi Flex Loan is connected to your bank card, making your monthly obligations is extremely simple. The re re re payment quantity only will be put into your minimal card repayment each thirty days.

But, the tie between flex loans and card payments does come with a few disadvantages. For instance, if you’d prefer to reduce a few of your loan early, you can expect to first need certainly to pay from the stability in your card for the thirty days.

Simply because Citi re payments made on an account with both a declaration stability and an ongoing flex plan are addressed by having a highest-apr-first concern. Therefore, presuming the APR on your own flex loan is gloomier compared to the APR on the card stability, your instalments are first placed on the card stability after which to your flex loan. This implies cardholders hoping to spend their loan off early will have to think about virtually any card debt they’ve been carrying.

Suggestion: Regardless of if your Citi Flex Arrange APR is more than your card’s APR, you are able to still avoid interest in your card stability by having to pay your declaration stability in complete. Though it is a fact your repayment will likely be first put on the flex loan (since it has a greater APR), Citi nevertheless treats the repayment as you paid your complete card stability.

Remember that your particular next declaration might show that you may be holding a stability on your own card, as your re payment had been put on the mortgage alternatively. But, you won’t be charged interest as you are carrying a balance provided that the re re payment towards the APR that is highest fits your overall statement stability.

Citi cardholders also needs to keep in mind that accepting a Citi Flex Loan against their borrowing limit will reduce simply how much they can wear that particular card in a pinch.

Should a Citi is taken by you Flex Loan?

Since Citi Flex Loans can be found based on your borrowing limit, there isn’t a difficult pull linked aided by the loan.

but, you ought to very very carefully start thinking about pros and cons of taking out fully a Citi Flex Loan against taking right out a loan that is personal you have got a big cost coming.


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


  • APRs is greater than standard unsecured loans
  • Needs to be targeted for the offer ( perhaps not offered to all cardholders)
  • Minimises your available credit
  • Can adversely influence your credit utilization ratio

Relating to Bankrate, personal bank loan prices typically are priced between 6 to 26 % based on your credit rating.

So, in the event that you have actually top-notch credit, it’s possible you can secure an improved rate of interest if 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 save more over time.


While Citi Flex Loans usually carry a greater APR when compared to a personal bank loan, they provide great reassurance to Citi cardholders who require funds in a pinch. You can easily leverage your present credit limit to simply take a loan out without a difficult pull to your credit and spend it down in fixed quantities as you spend your bank card bill.

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