Flex - Rent On Your Schedule

Editor's Review

Tired of the rigid monthly rent cycle? 😫 Flex offers a revolutionary solution by splitting your monthly rent into smaller, more manageable payments! 🗓️ This innovative approach helps you pay your rent on time, improve your cash flow, and even build your credit history – all while giving you the flexibility you need. 🤩

With Flex, you contribute a portion of your rent each month to unlock a credit line. 🏦 This credit line is then used to pay your rent in full and on time to your property manager. 🏡 You can even choose your payment dates within the month, aligning them with your payday or other financial obligations. 🗓️

Flex operates as a financial technology company, partnering with Lead Bank to offer lines of credit and payment services. 🤝 To get started, you'll need to apply and undergo a credit assessment. Credit line amounts vary based on eligibility, and accessing a credit line requires timely monthly payments. 👍 Unsecured lines of credit come with a recurring monthly membership fee of $14.99 at 0% APR. Additionally, a bill payment fee of 1% of your total rent is charged when using the Flex app, with an extra card processing fee if you use a credit card. 💳 Memberships automatically renew until canceled. Secured lines of credit are offered at 0–9% APR based on creditworthiness, requiring a security deposit with Lead Bank. Other third-party fees may apply. Be sure to check your offer for complete details. 🧐 Positive rent payment history and information about your line of credit may be reported to national credit bureaus, helping you build your credit score. 📈 Terms and conditions apply.

All loan proceeds are disbursed by Lead Bank, ensuring secure and compliant transactions. 🔒 Flex handles the brokering, servicing, and collection activities through its subsidiaries, Flexible Finance Brokering, Inc., and Flexible Finance Servicing, Inc.

Features

• Splits rent into smaller, manageable payments

• Flexible payment dates within the month

• Reports rent payments to credit bureaus

• Manages rent payments to your property

• Credit line to cover rent payments

• Secured and unsecured credit line options

• Recurring monthly membership

• Banking services offered by Lead Bank

Pros

• Improve cash flow with smaller payments

• Build your credit history over time

• Choose payment dates that suit you

• Potentially report rent payments to credit bureaus

Cons

• Membership fee of $14.99 per month

• Bill payment fee of 1% of total rent

• Additional fees for credit card payments

• Requires credit assessment for approval