Repayment of loan
The corporation offers to pay through your bank’s online banking bill payment system. Add Flexiti (Flexiti Financial) as a payee. You can also send a cheque by mail. The company asks you to make sure that you have included your account number on the cheque to avoid delays.
Flexiti Financial Attention: Account Services – Payment Processing P.O. Box 340, Orangeville, ON, L9W 2Z7.
If you register your account at my.flexiti.com, it will be more convenient to view your statements and details online. Although, you can receive your statements in paper by mail, and it costs a $3 fee for each.
Usually, the lender sends a notification when your statement is ready and a reminder five days before the discharge is due.
In some cases, it will send you an SMS reminder about your due date in some cases. A one-time-use link will be attached to follow to submit your remittance. Flexiti will only send an SMS from the number 353900. SMS messages sent from any other number should be ignored.
You could follow the instructions outlined in the message or call the customer service center at +1 (877) 259-3745 from Monday to Saturday, 9 am to 12:30 am ET, for more help.
If you miss a repayment or won't pay on time, you have to pay off the interest (accrued or applied to the remaining balance in the future according to the option you have chosen).
The annual and administrative fees depend on your retailer. Also, deferral, NSF, credit balance, overlimit fees might be charged. It's unfavorable to miss repayments or forget to monitor your card balance.
There are no pre-payment penalties. So you might freely pay off your loan in full or in part.
Conditions of loan extension
For equal monthly payment plans: your promotional plan will be annulled if you miss a payment. You have to pay off the interest for the remaining balance in the future because it will be treated like an interest-bearing purchase.
For deferred plans, if you don't pay the promotional balance before the expiry date for deferred plans, the accrued interest will be charged to the account.
In some circumstances, your AIR may be increased. The deferral fee is $59.99, only charged on a no-interest, no-payment promotion of less than 12 months if you do not pay the entire amount by the end of the promotional period. Applied relying on the purchase amount and the retailer.
Details about your discharges and due dates are contained in your monthly statement. See your cardholder agreement for more information.
NSF or dishonored fee of $49,99 could be applied if the bank declines your cheque
Some fees should be paid even on deferred repayment plans to keep the account in good standing (Simply SecureTM insurance fees, paper statement fees, and minimum monthly installments (for Quebec residents).
Early payoff
It's encouraged to pay off early, make additional remittances or settle an entire loan for free, and there are no prepayment penalties.
Additional or early payings reduce the amount of your final plan payments.
0% AIR are usually available for a relatively short period within a promotional schedule. And you should ensure that you pay off your loan on time to avoid interest.
Some options help you relieve a financial burden like 0% AIR and no fees promotional plans; if your retailer provides these schemes, you should pay on time or prepay to avoid paying the interest.
If you want to pay more effectively and improve your financial standing, try to make your payments on schedule; notify the lender that you have troubles paying; sign in your account; and monitor the plan, fees, rates, and due dates.
