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Still, it gives Citi charge card subscribers the capacity to has best control of no less than a percentage of the outstanding credit card balances.

Still, it gives Citi charge card subscribers the capacity to has best control of no less than a percentage of the outstanding credit card balances.

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Appreciate that you have provided their knowledge about the Citi Flex Loan. Ideally, it may help with clientele who will be thinking about this brand-new financing items.

That flex loan was subject to the apr hierarchy. Meaning, in the event that you already have a lower apr balance transfer on that card, and you also use a flex loan in the remaining available balance, whatever throughout the minimum payments (your current flex loan payment, and the minimum on balance transfer) goes toward the flex loan.

In case your balance exchange is actually for eighteen months, and your flex mortgage is actually for 36months, and you render a lot more than minimal money, convinced that you should have repaid that move opportunity, you’ll be in for a rude awakening whenever that time is up. You will simply manage to create lowest repayments towards it until that flex loan try paid in complete.

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Be cautious using conditions and terms on these “loans” these include yet another stability exchange. They are certainly not financing in the sense that your particular payment is the identical each month, and cannot hurt whatever you might curently have on the accounts. They’re merely another type of a balance transfer.

I thought that they certainly were treated like a separate organization, and what you may got or spent on their card could be addressed just as if the “loan” was not around. They even-set within the website to show the “Flex Loan” as another neighborhood. Making sure your realized it was a loan for XXX amount of cash with a set quantity of repayments and a set interest rate, after which it might say whatever your payment per month could be. This may be suggested how much was actually leftover on you “loan” and exactly how most costs you had available.

However the statement i acquired that month showed that in case the flex mortgage apr had been above other things that got about credit, subsequently things within the minimum would run towards that mortgage. Very, it is really not an “additional” fees within the minimum you need to have. It’s are settled at the same price as your current purchases but it’s apr will establish whether it will get what is throughout the minimal or otherwise not. To make sure that wonderful 10.99per cent interest 36 month stability transfer I’d supposed is certainly not acquiring anything else compared to lowest payment because that “loan” was taking whatever over their particular “monthly repayment” are as well as the minimum as a result of the transfer.

Have we understood that I became probably going to be paying they back at the same rate as a regular balances transfer, because of the higher apr. rates taking over every thing above the minimal costs, i’dnot have used it. Absolutely no way.

BTW, DON’T EVER have any over restrict on the charge card for ANY reason. The payment pattern to my cards begins regarding 17th for the thirty days, and I got down that “loan” about 16th, the mortgage levels introduced my personal borrowing limit toward maximum, but the following day the interest fees about current balances move I experienced about it came because of and pressed they over by $22.50. This was in-may. The Summer report arrived on the scene plus it had a big observe proclaiming that my “flex Arrange” aka my personal “Flex financing” interest rate would-be going up to 24% while the total quantity of repayments available to me would change from 36 to 30 beginning in August 28. Since i do believe of it, we think that my stability move we already have is roofed within the “Flex strategy” yet again 10.99per cent price is certainly going to 24per cent.

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