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Citi Flex loan questions?

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Re: Citi Flex loan questions?

Probably not. Flex loans come and go as a marketing offer from Citi. If you use it, it may not reappear for some months. Side note: you cannot call customer service and ask for the flex loan offer to be made reavailable. I've tried twice and customer service has no control. 

Message 11 of 21
NoMoreE46
Community Leader
Senior Contributor

Re: Citi Flex loan questions?


@yam1rts wrote:
I never carry a balance but did use a flex loan, within 3 weeks I paid my charges and loan amounts. Account balance is now zero and closing date is tomorrow. Will wait to see what the statement brings back as far as interest from the loan. I’ll pay that and see if I can pull another loan. Promise I’ll be back and let you guys know if I can repeat.


This would be great @yam1rts .

I suspect the loan conditions would indicate that at least one month of interest would be assessed even if paid off in less than one month.

 

 

Message 12 of 21
NoMoreE46
Community Leader
Senior Contributor

Re: Citi Flex loan questions?

 

Here are screen grabs of a $10,000 Flex Loan at 8.99% from the Citi app:

 

IMG_0399.jpeg

 

IMG_0398.jpeg

 

 

 

 

 

 

Message 13 of 21
yam1rts
Valued Member

Re: Citi Flex loan questions?


@NoMoreE46 wrote:

@yam1rts wrote:
I never carry a balance but did use a flex loan, within 3 weeks I paid my charges and loan amounts. Account balance is now zero and closing date is tomorrow. Will wait to see what the statement brings back as far as interest from the loan. I’ll pay that and see if I can pull another loan. Promise I’ll be back and let you guys know if I can repeat.


This would be great @yam1rts .

I suspect the loan conditions would indicate that at least one month of interest would be assessed even if paid off in less than one month.  I guess grace period doesn't apply here!

 

 


I did get hit with interest even after paying the whole credit card balance before the statement closing day.




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Message 14 of 21
NoMoreE46
Community Leader
Senior Contributor

Re: Citi Flex loan questions?

Thanks for confirming @yam1rts .

 


@yam1rts wrote:

@NoMoreE46 wrote:

@yam1rts wrote:
I never carry a balance but did use a flex loan, within 3 weeks I paid my charges and loan amounts. Account balance is now zero and closing date is tomorrow. Will wait to see what the statement brings back as far as interest from the loan. I’ll pay that and see if I can pull another loan. Promise I’ll be back and let you guys know if I can repeat.


This would be great @yam1rts .

I suspect the loan conditions would indicate that at least one month of interest would be assessed even if paid off in less than one month.  I guess grace period doesn't apply here!

 


I did get hit with interest even after paying the whole credit card balance before the statement closing day.




Message 15 of 21
cashorcharge
Community Leader
Super Contributor

Re: Citi Flex loan questions?


@NoMoreE46 wrote:

 

Here are screen grabs of a $10,000 Flex Loan at 8.99% from the Citi app:

 

IMG_0399.jpeg

 

IMG_0398.jpeg

 

 

 

 

 

 


Interesting that the APR is the same, regardless of the terms.  That's nice...

Message 16 of 21
NoMoreE46
Community Leader
Senior Contributor

Re: Citi Flex loan questions?

The rate is lower than I expected for this  kind of loan.

 


@cashorcharge wrote:

@NoMoreE46 wrote:

 

Here are screen grabs of a $10,000 Flex Loan at 8.99% from the Citi app:

 

IMG_0399.jpeg

 

IMG_0398.jpeg

 

 

 

 

 

 


Interesting that the APR is the same, regardless of the terms.  That's nice...


 

Message 17 of 21
Wavester64
Valued Contributor

Re: Citi Flex loan questions?


@cashorcharge wrote:

@NoMoreE46 wrote:

 

Here are screen grabs of a $10,000 Flex Loan at 8.99% from the Citi app:

 

IMG_0399.jpeg

 

IMG_0398.jpeg

 

 

 

 

 

 


Interesting that the APR is the same, regardless of the terms.  That's nice...


It must be targeted. For me, the longer the term, the higher the APR.






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Message 18 of 21
markhs777
Frequent Contributor

Re: Citi Flex loan questions?


@NoMoreE46 wrote:

 

Here are screen grabs of a $10,000 Flex Loan at 8.99% from the Citi app:

 

IMG_0399.jpeg

 

IMG_0398.jpeg

 

 

 

 

 

 



@NoMoreE46 wrote:

 

Here are screen grabs of a $10,000 Flex Loan at 8.99% from the Citi app:

 

IMG_0399.jpeg

 

IMG_0398.jpeg

 

 

 

 

 

 


Since the APR is the same regardless of the length of the loan and no early payment penalty always opt for the longest period. It will give you much more flexibility to pay it off.

Message 19 of 21
NoMoreE46
Community Leader
Senior Contributor

Re: Citi Flex loan questions?

Thanks for your DP @Wavester64 

 

 


@Wavester64 wrote:

@cashorcharge wrote:

@NoMoreE46 wrote:

 

Here are screen grabs of a $10,000 Flex Loan at 8.99% from the Citi app:

 

IMG_0399.jpeg

 

IMG_0398.jpeg

 

 

 

 

 

 


Interesting that the APR is the same, regardless of the terms.  That's nice...


It must be targeted. For me, the longer the term, the higher the APR.


 

Message 20 of 21
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