However, it gives Citi credit card visitors the opportunity to have best power over about some of the exceptional bank card balance.

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Appreciate that you’ve shared the knowledge about the Citi Flex financing. Hopefully, it may help with visitors who happen to be thinking about this brand new financing goods.

That flex mortgage are susceptible to the apr hierarchy. Meaning, if you have a reduced apr harmony transfer thereon card, and you also use a flex loan on the remaining available balance, whatever on the minimum payments (your current flex loan payment, in addition to the minimum in the balance transfer) goes toward the flex loan.

If the balances exchange is for 1 . 5 years, as well as your flex loan is for 36months, and you also create over minimal payments, convinced that you have paid down that transfer energy, you’ll be in for a rude awakening whenever the period is actually upwards. You will simply manage to create minimal payments towards it until that flex mortgage are paid in complete.

Very beneficial article; thank you so much plenty!

Be cautious using the fine print on these “loans” they have been merely another stability move. They’re not financing in the same manner that your fees is similar every month, and never hurt whatever you might currently have on your accounts. These are typically merely another version of a balance move.

We believed that they certainly were treated like an independent organization, and what you may have or used on the cards is handled just as if the “loan” wasn’t indeed there. They even-set within the website to program the “Flex Loan” as a different neighborhood. Making sure you realized that it was that loan for XXX amount of cash with a group number of costs and a set interest rate, following it might state whatever your own payment per month would be. Then it shown how much is left you “loan” and how most repayments you had readily available.

Though the statement i obtained that thirty days indicated that when the flex financing apr was above other things that was from the card, subsequently things on the minimum would go towards that loan. Very, it is really not an “additional” cost over the minimum you should have. Its getting paid in one rate as the current buys but it is apr will determine whether or not it will get something within the minimal or not. To ensure that wonderful 10.99% interest 36 month stability transfer I experienced heading is not getting any other thing more compared to the minimal monthly payment for the reason that it “loan” is taking whatever over her “monthly fees” are plus the minimal because of the exchange.

Had I known that I happened to be probably going to be paying they back at the same rates as a typical balances move, making use of greater apr. rate overpowering every little thing above the minimal money, I would personallynot have used they. Absolutely no way.

BTW, NEVER have over limitation in your mastercard for ANY reason. The payment cycle back at my credit begins throughout the seventeenth on the period, and that I took on that “loan” from the 16th, the borrowed funds quantity introduced my personal credit limit on maximum, nevertheless following day the interest costs regarding recent balances exchange I had upon it emerged because of and forced they over by $22.50. It was in May. The June report was released therefore had a huge find proclaiming that my “flex program” aka my personal “Flex financing” interest is increasing to 24percent and the complete amount of repayments open to me personally would move from 36 to 30 creating in August 28. Since In my opinion from it, we suspect that my stability move I currently have is roofed inside “Flex Arrange” and now THAT 10.99per cent rates goes to 24%.