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Regular Contributor
aloush11
Posts: 134
Registered: ‎02-18-2012
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Re: BoA - Flexible Spending?

For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps
Valued Contributor
Crashem
Posts: 3,096
Registered: ‎01-26-2012
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Re: BoA - Flexible Spending?


aloush11 wrote:
For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps

Great info to know.  Some card issuers do that and others only report the high statement balance as high balance.  Good to know how BofA acts.

               LIMITS IN CARD DESCRIPTIONS
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tinuviel
Posts: 4,875
Registered: ‎11-02-2010
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Re: BoA - Flexible Spending?


aloush11 wrote:
For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps

 

Good to know, thanks! This is gonna be an interesting experience... new stuff to learn!

 


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Senior Contributor
Open123
Posts: 4,220
Registered: ‎02-23-2011
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Re: BoA - Flexible Spending?


tinuviel wrote:

aloush11 wrote:
For my past experience with BOA and a Visa Signature card, you don't need to let it actually report. I charged about 3800 in one month, right before the cycle ended I paid the balance off and it reported as a zero balance but the high balance showed as 3800. Hope it helps

 

Good to know, thanks! This is gonna be an interesting experience... new stuff to learn!

 


This is one of the reasons (aside from signup bonuses) I enjoy most about opening new cards.  Learning and experience new features and what a new issuer has to offer.  I even find it interesting the differences in online account set up features.

Established Contributor
YahComb
Posts: 599
Registered: ‎03-10-2012
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Re: BoA - Flexible Spending?

BOA also reports highest balance at any one time for me. So technically you can wait until like a week before the due date to pay off the first statement, then you'll have all of the first month+2-3 weeks more worth of spending. After that resume your normal PIF habits.

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Revelate
Posts: 9,762
Registered: ‎12-30-2011
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Re: BoA - Flexible Spending?

BOFA religiously reports high balance at any point, not just the statement balance.

 

I think, and I could be wrong, that this is what FICO uses for calculation on FSA / Visa Sig accounts without limits.

 

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