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Friday, January 20, 2006

Citi Cards Launch Repayment Plan Card

Citigroup have announced a credit card with fixed monthly payments and a low interest rate so that it would be suitable for use with large purchases.

Citi Cards calls this product Citi Flex Payments, and is probably the first card issuer in the UK to offer this service.

If a purchase of £250 or more is to be made, the card holder can phone citi-bank and arrange repayment terms on the spot.

The payment plan is designed to make users more disciplined with their repayments, as it uses a structured system to help them.

The new system is currently being rolled out to selected existing customers, but will become available to new customers early 2006.


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