Credicorp Flex is a flexible tool, and like any tool it can be used well or badly. The businesses that get the most from it tend to avoid a handful of recurring mistakes.
The pitfalls
- Treating the limit as a target. Available headroom is a ceiling, not money you should aim to use in full.
- Repaying by redrawing. If you clear one drawing only by making another, the balance never truly falls and charges keep accruing.
- Drawing without a repayment plan. Every drawing should have a clear source of repayment from trading.
- Funding the wrong thing. Long-term capital needs usually suit a fixed-term facility better than a revolving one.
- Ignoring the statement. Not reviewing your balance, headroom, and charges means small problems grow unnoticed.
Better habits
Tie each drawing to a specific need and a specific repayment, keep some headroom in reserve, and review your account regularly against the rate and terms in your offer. If you notice the balance never really clearing, treat that as a signal to talk to us, not to draw again.
Ask early
If anything about how the facility is behaving puzzles you, contact our support team before it becomes a problem. As business lending, Flex sits outside the consumer-credit regime, so early conversation with us matters.
See also: How repaying Flex frees up your limit again, How Flex charges show up, per drawing, How is interest charged on a Flex facility?.