FlexitiCard Review

Lisa
Author:
Lisa
Lisa Rennie
Senior Contributor at Loans Canada
Lisa has worked as a personal finance writer for over a decade, creating unique content to help educate Canadian consumers. Expertise:
  • Personal finance
  • Real estate
  • Mortgage financing
  • Investing
Priyanka
Reviewed By:
Priyanka
Priyanka Correia, BComm
Senior Editor at Loans Canada
As a senior member of the Loans Canada team, Priyanka Correia is committed to empowering Canadians with the knowledge they need to make smart financial choices.
Expertise:
  • Personal finance
  • Consumer borrowing
  • Consumer banking
  • Debt management
📅
Updated On: January 21, 2025
iCash

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Approval is not guaranteed and conditions apply.

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Ontario Residents: Loan amounts and repayment terms are subject to qualification requirements. The maximum allowable cost of borrowing under the payday loan agreement is $14 for every $100 advanced. On a $500 loan of 14 days, the total cost of borrowing is $70, with a total payback amount of $570 and an APR of 365%. On a loan of 62 days, the APR is 82.42%.

Manitoba Residents: To learn more about your rights as a payday loan borrower, contact the Consumer Protection Office at 1-204-945-3800 or 1-800-782-0067 or at www.manitoba.ca/cca/cpo

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Affordability is a big issue for many Canadians, especially as the cost of living continues to soar. To help make shopping a little more manageable for consumers, buy now, pay later (BNPL) solutions are available that lets shoppers spread out payments over time. BNPL services are gaining popularity thanks to their convenience and flexibility, providing an alternative to traditional credit cards. 

Now, Flexiti is offering its FlexitiCard to give consumers financing at their fingertips.


Our Verdict 

Who is the FlexitiCard best for?Best for consumers who:
– Frequently make large purchases
– Prefer flexible payment options
– Want to take advantage of 0% interest financing on expensive items
What we like about the FlexitiCard– 0% Interest
– Flexible Payment Plans
– Vast Retailer Network
– Payment Protection Insurance
What we don’t like about the FlexitiCard– Limited Retailers
– Annual Fee

Who Is Flexiti?

Flexiti provides flexible financing solutions for Canadians through their FlexitiCard. Consumers can use it to spread out payments of big-ticket purchases with 0% interest. The FlexitiCard also comes with deferred payment options to push payments out to a later date. 

The FlexitiCard is accepted at thousands of retailers across Canada, allowing Canadians to take advantage of flexible payment options on expensive items like furniture, appliances, electronics, and jewelry. Their goal is to make shopping more affordable for consumers with state-of-the-art payment solutions.


What Is The FlexitiCard?

The FlexitiCard allows you to split big-ticket purchases into equal payments with 0% interest if payments are made on time, or defer payments to a later date. You can use it like a regular credit card at more than 8,000 retailers across Canada, both in-store and online.

Key Features

Features of the FlexitiCard include the following:

  • Flexible Financing Plans: Choose between dividing your purchase into equal payments, or defer your payments for later payment.
  • Quick Approval: Finance your purchase on the spot at the point of sale without having to wait days for approval like a regular loan.
  • Large Retail Network: Shop at over 8,000 participating retailers that have partnered with Flexiti.
  • Simply Secure™ Insurance Program: This coverage provides payment protection in the event of an unforeseen situation.
  • Offer Hub: Get access to exclusive offers and deals with your FlexitiCard.

How Does It Work?

The FlexitiCard makes shopping for a large purchase easy. Just follow these steps:

Step 1: Shop With Participating Retailers

Shop at thousands of retailers across Canada, both online and in-person. 

Step 2: Finance Your Purchase

Finance your purchase immediately without having to go through the hassle of applying for a loan to cover a large purchase. You can finance your purchase with Flexiti in the following ways:

  • Buy Now, Pay Later (BNPL): Split up your purchase into equal monthly payments over a set term with 0% interest (as long as the full amount is repaid on time).
  • Deferred Payments: Postpone your payments to a later time when you have the funds needed to cover the full purchase price. No payments are required until the term ends. However, to avoid being charged interest, you’ll need to make sure you pay the balance in full before the end of the term.
  • Credit Card Usage: Use the FlexitiCard like a regular credit card purchase.

Where Can You Use Your FlexitiCard?

Flexiti is partnered with thousands of retailers across Canada. Here’s just a short list of some of the places you can shop with your FlexitiCard:

  • Staples
  • The Brick
  • Rona
  • Sleep Country
  • Wayfair
  • People’s
  • London Drugs
  • Napa Auto Care Centre
  • The Bike Shop
  • Leon’s
  • 2001 Audio Video
  • Pandora
  • Big O Tires

Visit the Flexiti website to find a full list of retailers.


How To Apply?

Applying for a FlexitiCard is easy. Simply click the Apply Now button in the top right corner of the homepage to get started. You can also apply online or in-store with many partnered retailers.


What Are The Eligibility Requirements?

To qualify for a FlexitiCard, you must meet the following requirements:

  • Be a Canadian resident
  • Be the age of majority in your province or territory
  • Show a government-issued photo ID
  • Undergo a credit check

What We Like About The FlexitiCard

The FlexitiCard comes with several perks, including the following:

  • 0% Interest: You can spread out your payments on large purchases without having to pay interest if you make your payments on time.
  • Flexible Payment Plans: Choose between equal monthly payment plans or deferred payments, depending on your preferences.
  • Vast Network Of Retailers: The FlexitiCard is accepted by more than 8,000 retailers across Canada.
  • Payment Protection Insurance: You have the option to purchase Simply Secure™ insurance for $1.39 per $100 of your account balance.

Learn more: What Is Credit Card Balance Protection Insurance?


What We Think You Should Watch Out For

In addition to the benefits are a few downsides to consider:

  • Limited Retailers: The FlexitiCard can only be used at select merchants, despite Flexiti’s vast network.
  • Annual Fee: Flexiti charges a $24.99 annual fee. In Quebec, the fee is higher at $39.99 (or $99.99 if you use it for travel or you’re issued a Flexiti Wave Card)

What Is The Flexiti WAVE Card?

The Flexiti Wave Card is similar to the FlexitiCard in that it also offers flexible financing options. However, the Flexiti Wave Card is slightly different in the following ways:

  • Interest Options: The Flexiti Wave Card doesn’t offer a 0% financing option, while the FlexitiCard offers a 0% interest option on large purchases when payments are made on time.
  • Payment Plans: The Flexiti Wave Card offers longer repayment terms than the FlexitiCard. More specifically, the Flexiti Wave Card offers terms of 24, 36, 48, and 60 months.
  • Retailer Network: The Flexiti Wave Card can be used at more retailers within the Flexiti Network compared to the FlexitiCard.

Is The FlexitiCard Safe? 

Yes, the FlexitiCard is safe to use. You can choose to purchase Simply Secure™ insurance, a payment protection plan that covers things like job loss, critical illness, or injury.


What Do Consumers Think Of The Flexiti?

Before applying for a FlexitiCard, take some time to find out what others are saying about the company and product:

Better Business Bureau (BBB) A+
Accredited
Google Rating4.4/5 stars
Trustpilot Rating2.8/5 stars
Social Media PresenceInstagram: 1,776 followers
Facebook: 1.6K followers
LinkedIn: 20,887 followers

Alternatives To Flexiti

FlexitiCard’s BNPL capabilities are super convenient, but it’s not the only BNPL service available to Canadians. Here are a few others to consider:

  • Sezzle: Spread out our purchase in 4 installment payments over 6 weeks with no interest.
  • Affirm: Choose the payment option that works for you, including 4 interest-free payments every 2 weeks or monthly installments.
  • Afterpay: Split your payments over 6 weeks with no interest charges.

Credit Card Alternatives

Some banks also offer a similar service to BNPL services that allow you to spread your payments made with your credit card over several months. Here are a couple to consider:

CIBC Pace It. Certain CIBC credit cards come with CIBC Pace It. This program allows you to pay off large credit card purchases in monthly installments at low interest rates. Choose from 6, 12, or 24-month repayment plans, without the need for a credit check. 

TD Payment Plan. Similar to the CIBC Pace It program, this plan allows you to turn qualifying credit card purchases of at least $100 into equal monthly payments over 6, 12, or 18 months with 0% interest. However, there is a fee that ranges from 4% to 8%.

Learn more: Visa’s Buy Now Pay Later Payment Solution


Final Thoughts

The FlexitiCard can come in handy if you want to buy something expensive, like appliances or furniture, but don’t have the funds available to cover the entire cost upfront. In this case, you can use your FlexitiCard to split your payments up and spread them out, or defer your payments to a later date, without paying any interest. Just keep in mind that if you don’t make your payments on time, you’ll be stuck paying interest.


FlexitiCard FAQs

How do I view my FlexitiCard statements?

You can view the last 12 to 18 months’ worth of statements at my.flexiti.com. You’ll first need to register your account to view your statements.

How do I make payments?

You can pay your Flexiti bill online or by telephone banking using your 16-digit FlexitiCard number as your account number. You can also make a payment in person at a bank branch and request a payment to Flexiti Financial.

What if I miss a payment?

If you miss a payment, you may be charged interest or additional fees. You also risk losing your promotional offer or damaging your credit.

Can I pay off my purchase early?

Yes, you can pay off your purchase early without incurring penalties, as long as you meet the minimum payment amount every billing period.

Does Flexiti conduct a credit check?

Yes, a credit check is involved when you apply to verify your creditworthiness.
Lisa Rennie avatar on Loans Canada
Lisa Rennie

Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.

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