Flex - Rent On Your Schedule

Rent pay, your way. As someone who has struggled with paying rent on time and managing cash flow, I was excited to come across Flex, a financial technology company that helps split your monthly rent into smaller payments. This app not only helps you pay rent on time, but also improves your credit history and allows you to breathe easier every month.

Here's how it works: each month, you contribute part of your rent to unlock your credit line. This credit line is then used to pay your rent in full and on time to your property when it's due. The best part? You have the flexibility to choose your payment dates within the month, based on what works best for you and your finances. This feature is a game changer for those of us who struggle with budgeting and managing expenses.

It's important to note that Flex is not a bank, but rather a financial technology company. All lines of credit, banking services, and payment transmissions are offered by Blue Ridge Bank, N.A., Member FDIC or Lead Bank. This means that an application and credit assessment are required for approval, and credit line amounts vary based on eligibility. However, to access a credit line, you are required to make timely payments each month.

There are two types of credit lines offered by Flex: secured and unsecured. Secured lines of credit are provided by Lead Bank at 0-36% APR based on your credit worthiness, and you are required to maintain a security deposit with Lead Bank. On the other hand, unsecured lines of credit are provided by Blue Ridge Bank or Lead Bank for a recurring monthly membership fee of $14.99 at 0% APR. Keep in mind that a bill payment fee of 1% of your total rent is also charged when you pay your rent using Flex, and an additional card processing fee applies when using a credit card.

One of the most impressive features of Flex is that it reports positive rent payment history and information about your line of credit to one or more national credit bureaus. This means that by using Flex and making timely payments, you can improve your credit score and build a positive credit history. Of course, terms and conditions do apply, so make sure to read the fine print before signing up.

In summary, Flex is a fantastic app for anyone looking to improve their cash flow, pay rent on time, and build their credit history. With its flexible payment options, credit line offerings, and credit reporting feature, it's a must-have for anyone looking to take control of their finances. Just remember that all loan proceeds are disbursed by Blue Ridge Bank or Lead Bank, and all brokering and servicing activities are performed by Flexible Finance Brokering, Inc. and Flexible Finance Servicing, Inc. respectively. So what are you waiting for? Download Flex today and start breathing easier every month!