Nonetheless, it gives Citi charge card consumers the opportunity to need best control over at least a percentage of their exceptional credit card balances.

November 9, 2021by admin0

Nonetheless, it gives Citi charge card consumers the opportunity to need best control over at least a percentage of their exceptional credit card balances.

Query a concern

Appreciate you have shared your own knowledge about the Citi Flex financing. Ideally, it will help with clients that happen to be thinking about this new financing item.

That flex financing is actually subject to the apr hierarchy. Meaning, if you curently have a lower apr harmony transfer thereon card, therefore use a flex loan in the remaining available balance, whatever on the minimum payments (your current flex loan payment, plus the minimum regarding balance transfer) would go to the flex loan.

When your balances exchange is for 18 months, along with your flex loan is for 36months, and you also make more than the minimum costs, thinking that you will have repaid that transfer time, you’ll be set for a rude awakening when that period was upwards. You will simply be able to generate lowest costs towards it until that flex mortgage is actually paid in complete.

Extremely beneficial post; thank you so much such!

Be cautious because of the conditions and terms on these “loans” they have been just another balance transfer. They aren’t that loan in the same way that your payment is the identical every month, as well as you shouldn’t affect anything you might currently have in your profile. They’ve been yet another type of an equilibrium move.

We thought that these people were handled like another entity, and anything you had or allocated to your credit is managed like the “loan” was not around. They even-set in the web site to show the “Flex mortgage” as another location. Making certain you know that it was financing for XXX sum of money with a group range payments and a collection rate of interest, after which it could state whatever your own monthly payment would be. This may be showed simply how much was actually leftover you “loan” and how numerous repayments you’d offered.

However the report I managed to get that period suggested when the flex loan apr is above other things that is regarding the cards, subsequently things over the minimum would go towards that loan. So, it’s not an “additional” cost around minimum you should have. It is getting paid in one price since your latest buys but it’s apr should determine whether it becomes what exactly is on top of the minimum or perhaps not. So wonderful 10.99% interest 36 period balance transfer I’d supposed just isn’t obtaining anything else compared to the minimal monthly payment for the reason that it “loan” is actually getting whatever more their own “monthly installment” was and the minimal as a result of the transfer.

Had we identified that I became likely to be spending it straight back at the same rate as a general stability move, together with the larger apr. rates overpowering every thing over the minimal money, I would personallyn’t have used it. Not a chance.

BTW, NEVER have over restriction on the charge card for ANY reason. The billing routine on my card initiate regarding the seventeenth from the month, and that I grabbed out that “loan” about sixteenth, the loan levels delivered my credit limit toward max, however the overnight the interest charges regarding need an loan for 300 existing stability move I experienced on it arrived because of and pressed it over by $22.50. This is in-may. The Summer declaration was released plus it had a large find saying that my “flex Plan” aka my “Flex financing” rate of interest would be rising to 24percent while the overall quantity of costs accessible to me personally would go from 36 to 30 starting in August 28. Now that i believe from it, I suspect that my stability move I already have is roofed during the “Flex program” yet again 10.99per cent speed will go to 24percent.

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