Breeze through your cash flow management with Credit Flex

Credit Flex is a short-term loan for Tide members that covers 4 or 6 fixed monthly instalments.

This guide shows you how to:

🔗 Take out a Credit Flex loan

🔗 Check your Credit Flex eligibility

🔗 Repay your Credit Flex loan

🔗 Manage your Credit Flex loan

Credit Flex helps you

Spread your business purchases into smaller monthly repayments. Simple. Affordable. Quick.

Plan your cash flow

Avoid balance dips and cover past payments

Ease unexpected costs

Delay making those payments

Pay nothing for a month

Take your time during the first month

Grow your business

Access money to invest in equipment, inventory, etc.

No application needed

We identify which of your costs and payments are eligible

No hidden fees

See every repayment amount and due date in-app

Your upcoming payments' eligibility

See if an upcoming transaction qualifies for a Credit Flex loan in your app:

  1. Tap Accounts > Send

  2. Select an existing Payee OR enter the recipient’s details.

  3. If you see Pay with Credit Flex, the transaction is eligible

Your past payments' eligibility

See if a past transaction qualifies for a Credit Flex loan in your app:

  1. Tap Accounts and select a transaction from your timeline

  2. If you see Cover with Credit Flex, the transaction is eligible

Cover costs with Credit Flex

You can take out a Credit Flex loan to either make a real-time payment or cover the costs of a past transaction.

Cover the cost of an upcoming payment

Before you take out the loan, you'll need the funds to cover the payment in your main account.

To make a payment in your app:

  1. Tap Accounts > Send

  2. Select an existing Payee OR enter the recipient’s details

  3. Tap Pay with Credit Flex

  4. Read and accept your Credit Flex repayment terms including interest

  5. Sign the personal guarantee and confirm the loan

Once the loan is confirmed, the recipient will receive the payment from your main account, while we credit the money back to your main account.

Your monthly loan repayments will start the following month.

Manage your Credit Flex loan

Manage your Credit Flex loan

View your personal guarantee

  1. Tap Finance > Loans

  2. Tap Credit Flex > Manage > Personal Guarantee

A personal guarantee is a legally binding agreement where you as the business owner or director of the company agree to be personally liable for the repayment of the company loan.

Signing a personal guarantee means that if your business becomes unable to pay the monthly instalments, you'll take responsibility for repayment of the loan in your personal capacity.

Top up your loan

If you want, you can also add an additional amount to your monthly repayments:

  1. Tap Finance > Credit Flex and choose a payment

  2. Add up to and select the amount

  3. Tap Review loan breakdown > Review terms

Take out a partial loan

You can also take a partial Credit Flex loan for transactions you've already made:

  1. Tap Finance > Credit Flex

  2. Choose a payment that has the option Get xxx towards this payment

  3. Review terms and confirm

To have more than one loan at the same time, you should make at least one monthly repayment on the first Credit Flex you took out.

Repaying your Credit Flex loan

Repaying your Credit Flex loan

Your monthly repayments start the following month on the exact date you've taken out the loan. On this fixed due date, we’ll automatically collect the payment from your main Tide account.

Credit Flex costs

There’s no subscription fee Credit Flex. You’ll only pay the interest rate on the money you borrow.

We apply a monthly interest rate of 3.3% or 4.25% to the outstanding amount over 4 or 6 months.

Your repayment schedule

Before you confirm the loan, we’ll show you the repayment amounts and schedule. You can also see this on your Credit Flex dashboard:

  1. Tap Finance > Loans

  2. Tap Credit Flex

Change your loan repayment date

If you'd like, you can also change the repayment date of your loan. When taking out your Credit Flex loan, in your app, tap:

  1. Tap Change repayment date > Calendar

  2. Choose a date and tap Confirm at the bottom right

  3. Review the preview of the loan, then tap Set repayment date > Confirm Change

Changing your repayment date will affect your first installment. If you choose an earlier date, this will lower your first installment. If you choose a later date, then the first repayment may be slightly higher.

Pay your loan early

To pay your Credit Flex loan early, you’ll have to repay the full outstanding amount, including any interest accrued up to that date.

  1. Tap the Support icon in the top-right in your app

  2. Our team will help you settle your loan

Making a repayment before its due date

You can make a repayment early. This will cover the interest up to the date of payment, but a small amount of interest will still be accrued for the days until your standard repayment date. 

Those few days of uncovered interest will be then due on your standard repayment date.

Any additional money will be allocated to your next repayment.

Paying your loan if your Tide account is closed

You can pay your loan from another account if your Tide account is closed.

You just need to manually send the monthly repayment amount on the due date, as you would any other payment from that account.

What to do if you've missed a repayment

If there’s not enough money in your main Tide account on the due date, we’ll attempt to collect the amount from your additional Tide accounts indefinitely. We’ll collect any money you receive until the monthly repayment is settled.

Our Collections team may also email, call or send you an SMS to remind you of the overdue payment.

We report Credit Flex payment history to credit reference agencies. Your business credit score may be affected positively or negatively, depending on whether you make your monthly Credit Flex or other loan repayments on time.

If you’re having concerns about meeting your monthly repayments, email collections@tide.co to speak to us.

What happens if you miss two or more monthly repayments

We may ask you to pay the full outstanding amount, plus all accrued interest, regardless of how long the repayments are overdue.

Days your Credit Flex loan is overdue

4 days past the due date

If you have an Additional Account, we’ll also use that account to collect your monthly instalment

8 days past the due date

We’ll give you a 7-day grace period, starting from the repayment due date, and on the 8th day - you’ll start accruing late interest of 3.3% or 4.25% fixed monthly rate, same as the standard interest rate for your loan. It’s calculated and due over the entire overdue amount

45 days past the due date

In case you didn't reach out, we may forward this to a debt collection agency. We’ll ask you to immediately pay back the rest of the loan, plus any accrued interest