A Citi® Flex Loan gives you access to funds from your available credit with just a few clicks. There’s no application or credit inquiry, and funds can be deposited into your bank account in as little as 1-2 business days.
Here’s how it works.
What Is a Citi® Flex Loan?
How Citi® Flex Loan works
A Citi® Flex Loan lets you take out a loan from your Citi credit card’s available credit. Because you’re borrowing from your available credit, there’s no credit inquiry, no origination fee, or need to fill out an application.
Getting a Citi Flex Loan is a quick and easy process outlined below
- Select Citi® Flex Loan: Log in to your Citi account (Citi Online or Citi Mobile App) and access your available credit by taking a Flex Loan. No credit inquiry, application, or origination fee.
- Choose a payment schedule: Choose your loan amount and repayment term. You'll see your fixed interest rate and monthly payment.
- Review and confirm: Review your loan summary and submit.
- Get your money: Funds are deposited into your bank account in as little as 1-2 business days.
What type of expenses can I use my Citi® Flex Loan for?
The funds you receive from your Citi® Flex Loan can be used for many different types of expenses, including home improvements, emergency expenses, and other major purchases.
Citi® Flex Loan vs. traditional loans
A Flex Loan and a traditional loan both allow you to access funds that can be deposited directly into your bank account.
However, there are key differences between a Citi® Flex Loan and traditional loans. For instance, while traditional loans give you access to a new, separate credit account, the Flex Loan lets you access funds from your credit card’s available credit.
Making payments on Citi® Flex Loans
When you take out a Citi® Flex Loan, your monthly payment is added to the Minimum Payment Due each billing cycle until paid in full. That way, you only have to make a single payment each month. Flex Loan payments are also fixed, so you may plan to pay the same amount each month until that debt is repaid.
If you want to pay more than the Minimum Payment Due, the funds will generally go toward the balance with the higher APR. This means that if your Citi Flex Loan has a higher APR than another balance on your account (such as a balance transfer), any extra payment would apply to the loan before you can pay down the lower APR balance. There is no pre-payment penalty for a Citi® Flex Loan.
Still need more information on Citi® Flex Loan? Visit the main Citi® Flex Loan page to learn more.
This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.
