Close gaps in your cash flow with Credit Flex

Credit Flex is a short term loan facility that helps members manage their short term cash flow needs.  Members can spread business purchases into smaller monthly repayments to avoid a sudden balance dip, and they can get an instant cash boost by using Credit Flex for a previous payment.

To split a payment you are making into smaller repayments to avoid a sudden balance dip:

1. Select the Credit Flex option when making a payment

2. Review and accept your Credit Flex repayment terms including interest

3. The full payment will be transferred to the recipient from your main account 

4. We’ll then credit the funds back to your main account

5. Your monthly repayments will start the following month

6. Track your Credit Flex repayments from your Credit Flex dashboard.

To get an instant cash boost equal to the value of a previous payment:

1. Go to your account timeline in the Tide app

2. Select the Credit Flex option for the payment you want to cover

3. Review and accept your Credit Flex repayment terms including interest

4. You’ll receive the funds in your main account instantly

5. Your monthly repayments will start the following month

6. Track your Credit Flex repayments from your Credit Flex dashboard

No, there’s no application needed. If you’re eligible, you’ll see Credit Flex as an option when you’re making a payment or when you tap on a past transaction.

We recheck your eligibility every day, so you’ll never have to apply for Credit Flex.

Yes, you can use Credit Flex more than once.  You can use it whenever you see the Credit Flex option. 

Yes you can have multiple Credit Flex  loans at the same time.  You have to make at least one repayment from your first Credit Flex loan before you can have multiple loans at the same time.

We regularly review eligibility for all our credit products, and regularly update individual member eligibility for Credit Flex.   

You are more likely to be eligible for Credit Flex if you use your Tide account more often. 

We charge a monthly interest rate of 2.8% (fixed) against the total outstanding amount. Overall cost depends on the credit amount and the exact duration of your repayment plan.

A representative example:

39.3% APR representative based on an assumed unsecured loan amount of £1,000 and fixed monthly interest rate of 2.8%. This would be 4 monthly repayments of £267.74. Total amount payable within 4 months would be £1,070.97.

You’ll see the repayment amounts and schedule before you use Credit Flex. You can check this at any time afterwards, on your Credit Flex dashboard: Depending on your current version of the App, tap either “More” or “Finance”.

There’s no subscription fee to use Credit Flex.

Yes, to cover or pay with Credit Flex, you will need to review and accept the terms and conditions including a personal guarantee.

All Credit Flex loans need to be supported by a personal guarantee from the principal owner / director activating the Credit Flex, which will be signed using the mobile application.

We’ll automatically take each repayment from your primary Tide account on the due date given in your repayment schedule.

If you miss a repayment, top up your account and we’ll automatically make a further debit attempt on a daily basis until we’re able to take the repayment.

Each monthly repayment will come out of your primary Tide account in the morning of the day it’s due.  To make sure you don’t miss a payment, top up your primary Tide account the day before.

We’ll automatically debit your account, starting the next day, until we’re able to take the repayment. Our Collections team will also get in touch with you.

We’ll give you a grace period of 7 days starting from your repayment due date, before we start to apply late interest on the 8th day. The late interest rate is the same rate as the 2.8% fixed monthly interest rate, but it is due together with the missed repayment.

If a repayment becomes 45 days late, the whole outstanding amount you’ve borrowed and the interest will become due immediately. We’ll take steps to retrieve this money from you.

We may default your Credit Flex facility if two or more repayments are overdue at any time. This means you’ll be required to pay the outstanding amount you’ve borrowed, the interest and any fees.

If you can’t make a repayment for any reason, tap Support to message us in the app. The sooner you let us know, the sooner we can help.

Top up your primary Tide account with the necessary amount, and we’ll automatically take it from your account the next day.