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Hi there,
While reviewing my credit scores online today, My Amazon Chase Visa changed from a "credit card" to a "flexible spending credit card". What does this mean? Has anyone else had this happen with this card?
Thanks in advance!
Welcome to the board. This is nothing new. It just means you are allowed to go over the credit line assign to you should you need a little bit more when purchasing. But the approval of the over the limit purchase is done at the bank/lender's discretion...
@Anonymous wrote:Hi there,
While reviewing my credit scores online today, My Amazon Chase Visa changed from a "credit card" to a "flexible spending credit card". What does this mean? Has anyone else had this happen with this card?
Thanks in advance!
A flexible spending card allows you to charge over your limit. for example, if your CL is $5000, you could charge $6000 but on your next statement you would have to pay your minimum payment along with the extra $1000.
Interesting thanks for the info. Does this mean there will be a total credit limit increase as well or just simply I can go over?
@Anonymous wrote:Interesting thanks for the info. Does this mean there will be a total credit limit increase as well or just simply I can go over?
Has no bearing on any credit limit increase. If you go over, your limit stays the same.
I always wondered whet the difference was! Thanks!