What is FlexLine Advance?
FlexLine Advance is a convenient, cost effective way for our Visa Credit Cardholders to borrow funds against the unused credit line. It does not require a new application because it is a new feature added to an existing account, so there is no need for underwriting. Funds will be deposited into your WSB checking or savings account to provide payment flexibility in situations where a credit card can't be used.
How is FlexLine Advance different from a cash advance?
Cash advance generally comes with an upfront fee and a higher interest rate compared to a regular purchase. FlexLine Advance is deposited electronically to your WSB checking or savings account within approximately two business days through ACH. In addition, the amount available is from the cardholders purchased credit instead of the lower amount available for cash advances.
How does it work?
Cardholders can initiate the process through Visa Online Access (VOA). The steps are simple. Choose the program you want, the amount you want, and add the WSB account you want the money to be deposited in. Once complete, you'll receive a confirmation.
Is the FlexLine Advance amount part of my existing credit limit?
The total available credit line for purchases is available for request through FlexLine Advance.
How is a FlexLine Advance different from a personal installment loan?
Since FlexLine Advance is using the unused credit line of the credit card account, it requires no application, no additional bureau pulls and approval. It is a faster and easier way to get the funds. Personal Installment Loans need a new application, application processing, approval and therefore take more time and effort. It is not an installment loan but is payable within a fixed term and subject to a fixed interest rate.
How do I request a FlexLine Advance?
If eligible, you request the advance amount, select the interest rate and payment period, and provide the WSB Routing Number (071923349) and account number. If the funds are available, it will be processed, and the money will be deposited in the WSB checking or savings account within two business days.
Is there a fee for getting a FlexLine Advance?
There is no transaction fee. The fixed interest rate applies over the specified payment period.
Is there a minimum amount I can borrow with a FlexLine Advance?
The minimum is $250.
What terms can I choose from:
6 months at 4.99% APR or 12 months at 7.99% APR. Both are a fixed rate. Click here for FlexLine Disclosures.
If I have a rewards card do I earn credit card rewards on a FlexLine Advance?
When will the FlexLine Advance payment be due?
The first payment will be due on the regular due date following the statement cycle after the advance is taken.
Will I have separate payments to make each month?
No. One payment can be made to cover the payments due on regular purchases, cash advances, and on FlexLine Advance. The amount due for the FlexLine Advance plan will be added to the total minimum payment due.
Can I prepay the FlexLine Advance balance? Is there a pre-payment penalty?
FlexLine Advance can be prepaid and there is no prepayment penalty.
Can I pay ongoing credit card purchases off in full and avoid paying interest on purchases, after utilizing FlexLine Advance?
Payments over the minimum due will be allocated according to regulations, which allocate the additional amount toward the highest interest rate balance.
FlexLine is available for WSB Consumer Visa Credit Card account holders. Not available for WSB Visa Business Customers.