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

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

Citi allows select cardholders just just take out financing against their bank card at a rate that is fixed

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

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

What exactly is a Citi Flex Loan?

Citi Flex Loans are an original offering from Citi, enabling credit cardholders to just just take a loan out with a hard and fast APR up to the quantity of their borrowing limit. Plus, there isn’t any origination cost, and you will pick from several payment term lengths. Cardholders should be targeted for starters of those loans, nevertheless they can realize your desire to select their loan quantity and payment schedule centered on their instant requirements.

If you’re a Citi cardholder having a big purchase to make or unforeseen fees to settle, a Citi Flex Loan may be a terrific 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 regular loan that is personal.

Suggestion: Citi recently announced a Citi Flex Pay partnership with Amazon, that will enable cardholders to settle big purchases that are amazon time utilizing their Citi card and possibly spend less on interest. Qualified cardholders can select between various equal payment that is monthly 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 have to first get an offer for the solution from Citi.

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

When you haven’t received a targeted offer for the Citi Flex Loan, you are able to sign in here to check on for almost any available provides. Unfortuitously, not every cardholder shall meet the requirements.

Then you can begin to customize your loan terms if you do find an offer – and the APR works for you. Citi cardholders can choose that loan amount with no less than $500 and no more than their borrowing limit Citi that is(unless has another optimum amount according to creditworthiness). You could choose 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 charge card, making your monthly obligations is extremely simple. The re payment quantity only will be put into your card that is minimum payment thirty days.

Nevertheless, the tie between flex loans and card payments does come with a few disadvantages. For instance, if you’d prefer to reduce several of your loan early, you certainly will first need to pay the balance off on the card for the thirty days.

Simply because Citi re payments made on a free account with both a declaration stability and an ongoing flex plan are addressed having a priority that is highest-apr-first. Therefore, presuming the APR in your flex loan is leaner 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 their loan off early will have to start thinking about any kind of card financial obligation they truly are holding.

Suggestion: No matter if your Citi Flex Arrange APR is greater than your card’s APR, you can easily nevertheless avoid interest on your own 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 your own card, as your re re payment ended up being put on the mortgage alternatively. Nonetheless, you won’t be charged interest as you are holding a balance so long as the re payment into the APR that is highest fits your present declaration stability.

Citi cardholders must also remember that dealing with a Citi Flex Loan against their borrowing limit will lower 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 in accordance with your credit limit, there isn’t a pull that is hard utilizing the loan.

nonetheless, you ought to very very carefully start thinking about benefits and drawbacks of taking out fully a Citi Flex Loan against taking out fully a loan that is personal you’ve got a sizable cost coming.


  • Comfortable access to that loan as much as your borrowing limit
  • There’s absolutely no credit check needed
  • It is possible to get a reduced APR than your bank card
  • No origination charge as with a old-fashioned unsecured loan


  • APRs could be greater than standard signature loans
  • Must certanly be targeted for an offer ( maybe maybe maybe not accessible to all payday loans GA cardholders)
  • Minimises your available credit
  • Can adversely affect your credit utilization ratio

In accordance with Bankrate, personal bank loan prices typically range between 6 to 26 % based on your credit history.

Therefore, in the event that you have actually top-notch credit, you are able you can secure a significantly better rate of interest in the event that you choose for an even more old-fashioned unsecured loan. Though you’ll most likely pay an origination cost and suffer a difficult pull to your credit, your own loan might help save you more over time.


While Citi Flex Loans usually carry an increased APR compared to a personal bank loan, they feature great satisfaction to Citi cardholders who require funds in a pinch. You’ll leverage your present borrowing limit to just simply take down financing without a difficult pull to your credit and spend it down in fixed amounts as you spend your bank card bill.

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