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

7 gennaio 2021,

di Stefano Ronchetti,

letto 13 volte.

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

Citi allows select cardholders simply simply take away financing against their charge card at a set rate

Hill Street Studios / Getty Images


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

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

What exactly is a Citi Flex Loan?

Citi Flex Loans are a distinctive providing from Citi, permitting credit cardholders to simply simply take a loan out with a hard and fast APR as much as the actual quantity of their borrowing limit. Plus, there is absolutely no origination charge, and you may pick from a few payment term lengths. Cardholders must certanly be targeted for starters of those loans, nevertheless they will have a way to decide on their loan quantity and 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 fees to repay, a Citi Flex Loan may be a terrific 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.

Suggestion: Citi recently announced a Citi Flex Pay partnership with Amazon, that may allow cardholders to repay big Amazon acquisitions over time utilizing their Citi card and possibly save well on interest. Qualified cardholders can select between various equal payment that is monthly and marketing APRs on the basis of the measurements of their purchase.

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

You may visit a marketing advertising that loan once you log on to your Citi account, or perhaps you could easily get a message 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. Regrettably, not all cardholder will meet the requirements.

Should you find an offer – as well as the APR works for you – then you can certainly start to personalize your loan terms. Citi cardholders can choose that loan quantity with at the least $500 and at the most their borrowing limit (unless Citi has custom made another optimum amount according to creditworthiness). You are able to pick your payment term, from year to 60 months. Citi offers you your payment that is monthly based the terms you input.

Must be Citi Flex Loan is related to your charge card, making your monthly obligations is extremely simple. The 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 downsides. For instance, if you’d love to reduce a number of your loan early, you certainly will first need to spend from the stability on your own card for the thirty days.

Simply because Citi payments made on a merchant account with both a declaration balance as well as an ongoing flex plan are treated having a priority that is highest-apr-first. Therefore, presuming the APR in your flex loan is gloomier compared to the APR on the card stability, your instalments are first put on the card stability then into the flex loan. This implies cardholders hoping to spend down their loan early will have to think about every other card financial obligation these are typically holding.

Suggestion: Whether or not your Citi Flex Arrange APR is greater than your card’s APR, it is possible to nevertheless avoid interest on the card stability if you are paying 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 in your card, as your re payment had been put on the loan alternatively. Nevertheless, you won’t be charged interest as you are carrying a balance so long as the payment to your APR that is highest matches your present declaration balance.

Citi cardholders also needs to remember that accepting a Citi Flex Loan against their borrowing limit will reduce just how much they can placed on that particular card in a pinch.

Should you are taking a Citi Flex Loan?

Since Citi Flex Loans can be obtained based on your borrowing limit, there isn’t a pull that is hard because of the loan.

but, you really need to very very carefully think about benefits and drawbacks of taking right out a Citi Flex Loan against taking out fully a unsecured loan if you’ve got a big expense coming.


  • Quick access to that loan as much as your borrowing limit
  • There’s absolutely no credit check needed
  • You are able to get a diminished APR than your charge card
  • No origination charge just as in a normal unsecured loan


  • APRs could be more than standard loans that are personal
  • Needs to be targeted for the offer ( maybe perhaps not offered to all cardholders)
  • Minimises your available credit
  • Can adversely influence your credit utilization ratio

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

Therefore, in the event that you opt for a more traditional personal loan if you have top-notch credit, it is possible you can land a better interest rate. 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 compared to a personal bank loan, they provide great satisfaction to Citi cardholders who require funds in a pinch. It is possible to leverage your overall borrowing limit to simply take a loan out without a difficult pull to your credit and spend it down in fixed amounts as you spend your charge card bill.

Autore del post

Articolo scritto da Stefano Ronchetti

A Stefano Ronchetti, ideatore e fondatore della CONCERTO, è affidata la Direzione generale ed il coordinamento del gruppo. Un professionista con un’importante esperienza...

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