citi flex plan

Citi Credit Card Account Changes – Citi Flex Line of Credit

Thousands of Citi Credit Card account holders are receiving letters informing them of a very important change happening to their account.  The introduction of the Citi Flex Plan (and Citi Flex Loan) has recently been introduced.  With this letter includes a summary of the changes which will be taking place to your credit account. Additionally, it includes the updated terms to your credit card agreement.  Also important to note, you will find the effective date when the new feature to your account will take place.

What Can Cardholders Expect With Citi Flex Line of Credit

The Citi Flex Plan will be available to cardholders based on creditworthiness and credit limit availability.  As the rollout occurs, more information will be available as to exactly how the notification will be provided.  Customers will also be notified if they have the opportunity to take advantage of this feature.  This feature is likely to be reserved for accounts which are in good standing and have available credit to use for the Flex Plan or Flex Loan.  This means that customers who carry a large balance which eats up the majority of their credit limit may not be eligible to take advantage for this new feature.

Soon consumers can expect offers for the Flex Plans start to arrive.  Customers will have an opportunity to create a custom loan plan based on the details they choose.  Repayment for the Flex Plan will have options including the length of the repayment plan.  This will also determine what your monthly payment will be.  These features will give the consumer control over their monthly payment allowing consumers to budget their finances accordingly.  It is important to keep in mind that funds used in a Flex Plan may have a fixed repayment amount.  Any additional traditional credit card balance will still need to be repaid as well.

Citi Flex Loan

After you apply for your Flex Plan Offer your funds can be electronically deposited.  Alternatively, you can have a check sent directly to the necessary location.  For instance, if you are paying off high-interest debt, you can have your funds mailed directly to the debtor. Once you have set up a Flex Plan your funds will be available for use anytime as long as your account remains in good credit standing.  Your balance will reflect what you are currently using from your Flex Plan or Loan.

The Citi Flex Loan or A Personal Loan

In many ways, this new feature will be an alternative to another popular financing option – the personal loan.  Personal loans are generally smaller loans used to cover expenses with shorter repayment periods.  The advantage of a personal loan compared to charging an expense to a credit card is that you can potentially get a better interest rate than you would on a high-interest credit card.  The Flex Plan will have a specific interest rate with your personalized offer.  Depending on the rate you receive, this could be a much better option than a comparatively higher rate personal loan.

Another major factor consumers should keep in mind is that your credit line with your Citi Credit Card is already established.  As such, no secured payment or deposit is necessary.


Related Content: Need a personal loan? Check out the following reviews… TD Express Loan Reviews, Discover Personal Loan, or the Barclays Loan Offer.

Please note all three of the above mention personal loans require the application to be 18 years of age or older and a legal resident of the United States.


Ultimately, the biggest factor when considering if this will be a good option for you comes down to the interest rate you are offered.  Personal loans are all over the place.   There are many options out there and even major financial institutions such as US Bank and SoFi are getting in on the action.  If you are in a situation where you need funds quickly, personal loans or a service like this could be a lifesaver.  With that said, you should also determine what will make the most financial sense given your circumstances.

Final Thoughts on the New Citi Flex Plan

Sometimes circumstances arise where financial needs supersede all other considerations.  When individuals have true emergencies such as health expenses or necessary home repairs then options like this may be a smart play.  Unfortunately, many consumers seek short terms funds like this for frivolous material expenses they cannot afford.  If you are in a circumstance where you needs funds or you are using funds to pay off higher interest debt, the Citi Flex Plan could be a good option for you.  Above all else, is critical to shop around for the best rate prior to settling for any financial option.

Citi Bank Flex Plan Q&A