On Aug. 3, 2020, Citi announced a collaboration with Amazon that brings a new addition to its Flex Pay program. Citi Flex 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 Citi credit card (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, it’s advised you modify your settings 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 here.

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 Citi, Amex or Chase offers 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.