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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: NurPhoto/Getty Images October 01, 2020 Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. On Aug. 3, 2020, Citi announced a collaboration with Amazon that brings a new addition to its Flex Pay program. Pay on Amazon gives existing cardmembers who’ve recently shopped on Amazon with an eligible Citi card the option to pay off large purchases with an equal monthly payment plan—no formal application, fees or credit check required. Additionally, you can also now get a 0 percent promotional APR for up to 24 months when you make a purchase on Amazon with an eligible (offer ends Oct. 14, 2020). “… More than one-third of active cardmembers made at least one purchase on Amazon in the past year and millions of our cardmembers shop using their ThankYou Points to redeem for purchases through Shop With Points on Amazon,” said the Citi news release. “So Citi and Amazon saw an opportunity to offer another convenient, easy financing option at checkout.” Not including the new, 24-month 0 percent APR offer, cardmembers have one-to-five equal monthly payment plans to choose from and receive a low APR. Here’s a breakdown of each payment option: Purchases of $100 or more: 3 equal monthly payments (6.74 percent APR) Purchases of $149 or more: 6 equal monthly payments (6.74 percent APR) Purchases of $300 or more: 12 equal monthly payments (6.74 percent APR) Purchases of $600 or more: 18 or 24 equal monthly payments (6.74 percent APR) Purchases of $1,200 or more: 36 or 48 equal monthly payments (8.74 percent APR) It’s important to note shipping and handling and tax are included in the qualifying purchase amount. A closer look at Citi Flex Pay on Amazon
After selecting an equal payment plan, cardmembers have the option to pay with ThankYou Points via Shop with Points at Amazon.com, Amazon gift cards, a credit card or a combination of the three options. If you’re interested in paying with points, know that you’re likely already enrolled in the Shop with Points at Amazon.com program if you’ve added your Citi card to your Amazon account and made a purchase with it. For cardmembers utilizing AutoPay, to steer clear of accidentally paying off the full balance in lieu of your new, monthly payment plan. More information on your plan selections can be found under “Citi Flex Plan Summary” in your online Citi account or within the Citi Mobile app. Purchases that aren t eligible for Citi Flex Pay on Amazon
As a reminder, for a purchase to qualify for Citi Flex Pay on Amazon, it must have been made on Amazon.com with an eligible Citi card. There are a few exceptions, though. Unfortunately, Whole Foods, Amazon Fresh, Amazon Prime Now and a few other purchase categories aren’t eligible for the program. You can read more about these exceptions . What Citi Flex Pay on Amazon can do for you
“Six months ago, I would have said why bother with a 7-10 percent interest rate when you could pay 0 percent,” says Ted Rossman, industry analyst at Bankrate. “But back then, balance transfer offers were abundant. Now they’re scarce. As lenders have gotten more risk-averse, tapping into an existing card relationship with one of these could be one of your best ways to lower your interest expense and establish a more predictable payback cycle.” Rossman notes that, while the program’s interest rates are relatively low, taking on debt of any kind is a risk and can increase your chances of additional debt if the interest adds up. But given the current economic environment, job market and scarcity of zero percent balance transfer offers and low-rate personal loans, you may have no choice but to utilize programs like Citi Flex Pay on Amazon. “It’s certainly better than borrowing from your 401(k), taking out a cash advance or a payday loan,” Rossman says. “And the interest rates are considerably lower than most credit cards. I actually think it’s one of the best ways to borrow if you need to carry debt right now.” Am I eligible for Citi Flex Pay on Amazon
To qualify for Citi Flex Pay on Amazon, you must have made a purchase on Amazon using a Citi credit card over the past few months. Eligible cardmembers will see the offer appear at checkout. SHARE: Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Related Articles
