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cheddar wrote:I know it's not a CC, strictly speaking, but it is a revolving LOC, so I thought it would be apporpriate on this forum.CitiFlex LOC website says limits are $2K to $25K, depending on CR.GF applied and was approved for an initial CL of $32.5KWTH? I'm not complaining....but...huh?
Just curious- would you mind telling us the apr and terms if she accepts the full 32.5 or whatever she chooses?
Citibank mails me CitiFlex LOC offers quite often. Mine are for credit lines between $2K-$32K, with 9.99% Fixed APRs. These offers always end up in the paper shredder.
netpanther wrote:
cheddar wrote:I know it's not a CC, strictly speaking, but it is a revolving LOC, so I thought it would be apporpriate on this forum.CitiFlex LOC website says limits are $2K to $25K, depending on CR.GF applied and was approved for an initial CL of $32.5KWTH? I'm not complaining....but...huh?
Just curious- would you mind telling us the apr and terms if she accepts the full 32.5 or whatever she chooses?
9.99 fixed is not bad at all considering that out local CU LOC is at 8.49.
psychic wrote:Citibank mails me CitiFlex offers quite often. Mine are for credit lines between $2K-$32K, with 9.99% Fixed APRs. These offers always end up in the paper shredder.
netpanther wrote:
cheddar wrote:I know it's not a CC, strictly speaking, but it is a revolving LOC, so I thought it would be apporpriate on this forum.CitiFlex LOC website says limits are $2K to $25K, depending on CR.GF applied and was approved for an initial CL of $32.5KWTH? I'm not complaining....but...huh?
Just curious- would you mind telling us the apr and terms if she accepts the full 32.5 or whatever she chooses?
cheddar wrote:Sure.APR is prime + 4.99...currently 12.49%She doesn't have to choose to "accept" the full amount or not, as it's not a loan. It's a LOC which works just like a CC, except that instead of getting a card you get checks you can write to pay your creditors.When the LOC is first accessed, the repayment term is set at 60 months. At that point you can call and have the repayment term changed to anywhere from 24 to 72 months. If you have an existing balance and you access the LOC again, the existing repayment term is recalculated and started over.Now, the sticking point. The T&C state that there is a transaction fee of 3% for each transaction ($5 minimum, no maximum). However, there is a footnote that says the transaction fee does not apply to the 12.49% APR offer described above. (If it doesn't apply to that, I'm not sure what exactly it applies to.)Before she applied, I called a CSR and asked specifically about the transaction fee stipulation, and she told me there would be no transaction fees on the account. I'm still not clear as to why it's in the T&C.
Message Edited by cheddar on 11-23-2007 04:01 PM
I agree. 9.99% isn't a horrendous APR. I can just do better elsewhere.
netpanther wrote:9.99 fixed is not bad at all considering that out local CU LOC is at 8.49.
psychic wrote:Citibank mails me CitiFlex offers quite often. Mine are for credit lines between $2K-$32K, with 9.99% Fixed APRs. These offers always end up in the paper shredder.