How does Flex payment work?

With flex pay, the employee receives their regular salary regardless of how many hours they work in a given week. For weeks in which an employee works more than 40 hours, that employee will receive extra pay equal to one-half their regular rate for each hour worked in excess of 40 hours.

Is Flex payment worth it?

It can save you money: You can potentially pay a lower APR using Citi Flex Pay than your normal purchase APR. A fixed-rate loan could make budgeting easier: Knowing you have a set payment due every month may work better for your budget than having a credit card bill that varies monthly.

Is Flex a good way to pay rent?

In principle, Flex may make a lot of sense for plenty of renters who need a bit more wiggle room on payments. The cost isn't crazy, but $130 per year isn't a negligible expense. Flex ideally works great for renters who live paycheck-to-paycheck, as long as the cost of the service isn't hurting them too.

How long does it take for Flex to take payment?

Flex Pay payments will be deposited into your preferred bank account in the following 24-48 business hours .

Does Flex hurt your credit?

A: No. Signing up for a Flex account won't affect your credit. Flex performs a soft credit inquiry with TransUnion during the application process to ensure that you are eligible to use Flex. Soft inquiries won't show up on credit bureau reports requested to evaluate your credit-worthiness.

Game Changer! Pay Your Rent When You Want! New Fintech "Flex"! Easy Approvals! No More Late Payments

Can you pay off flex pay early?

Yes, you can make additional payments to pay down your balance or pay off your purchase in full.

What happens if I miss a flex payment?

You can continue to use Flex as long as you reschedule all missed payments and have no outstanding balance at the end of the month. You can reschedule your second payment of each month on the Flex app or send a reschedule request to the Flex team HERE.

What credit score do you need for Flex pay?

There is no interest, hidden fees, or penalties assessed by Flex. What are the resident qualifications? No outstanding rent balance. Minimum credit score of 500.

What credit score do you need for Flex?

You'll need a good to excellent credit score (a FICO score of 670 or higher) to qualify for the Freedom Flex.

Does Flex charge a monthly fee?

Flex charges the standard monthly membership fee of $14.99 on the 15th of the month.

Why did Flex rent deny me?

We evaluate your eligibility using a variety of factors including your credit report information, your banking information, and other information about your payment history. Most customers with fair or better credit will qualify for Flex. If you failed to qualify we'll send you a letter detailing exactly why.

Why is Flex not covering my rent?

A: This generally occurs if your property has some sort of technical issue with payments. Most issues tend to be related to your property having disabled ACH/bank transfer payments. We'll continue to try to pay your rent bill directly to your portal but we may not be successful if this issue persists.

Can you cancel flex rent at anytime?

You can cancel Xfinity Flex at any time by returning your Xfinity Flex equipment.

Do flex loans go on your credit?

Applying for a flex loan typically won't affect your credit because not all lenders check your credit score. However, if you have late or missed payments, lenders may report your borrowing activity to credit bureaus, which could negatively affect your credit.

How do you get approved for Flex?

Flex evaluates your eligibility using a variety of factors including your credit report information, your banking information, and other information about your payment history. Generally, customers who are fair or better credit, with sufficient deposits and average bank balances will qualify for Flex.

Is FlexPay a loan?

A flex loan isn't really a loan at all — it's an unsecured open line of credit. If your loan application is approved, you can withdraw cash at any time up to your approved credit limit, which can be a few hundred to thousands of dollars, depending on the lender and how much you're borrowing.

How much can you get with a flex loan?

A Flex Loan is an open line of credit that allows you to borrow up to $4,000 and only pay interest for the amount of time you keep the money you borrow. You can draw on your line of credit at any time, and as you repay the principal owed your available credit is renewed by the same amount.

What bank does flex use?

Description: “Flexible Rent” is a service that enables you to pay your rent through a line of credit issued by Blue Ridge Bank, N.A. (a “Flex Line of Credit”). 2.1. 2 Fees & Cancellation.

What can I get with a 550 credit score?

You can borrow anywhere from a few thousand dollars to $100,000+ with a 550 credit score. The exact amount of money you will get depends on other factors besides your credit score, such as your income, your employment status, the type of loan you get, and even the lender.

Do you have to pay Flex card back?

If documentation is not submitted as requested to verify a charge made with the Flex Card, then the Card will be suspended until receipts are received. You will be required to repay the amount charged.

Does Flex rent refund?

Flex will refund your membership fee if we are unable to pay your rent this month due to a Flex issue. If the reason your rent was not paid is a Flex issue, you should see a credit for the same amount as your fee.

Can I use a credit card for Flex rent?

pays your rent on the 1st and lets you pay it back. when it works. And now Flex accepts credit and debit.

Can you pause Flex rent?

If you do not wish to use Flex Services to pay your rent payment in a specific month, you may pause your Flex Services membership by emailing us at [email protected]. The pause option allows you to pause your Flex Services membership while keeping your Flex Line of Credit account open.

Does Flex have a grace period?

Required Grace Period

After those five days, they can be charged late fees up to 5% of their past-due rent. For more information, see our guide on Late Rent Laws by State.

Does Flex APP report to credit bureaus?

Members must make their initial payment and repay their Line of Credit in full each month to use Flex for the following month. Flex reports your payment history to TransUnion, and late or missed payments may be reflected on your credit report.