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BoA - Flexible Spending?

Regular Contributor

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
Message 11 of 16
Valued Contributor

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
Message 12 of 16
Moderator Emeritus

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!

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
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Message 13 of 16
Super Contributor

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.

Message 14 of 16
Established Contributor

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.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
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Message 15 of 16
Moderator

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.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
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Message 16 of 16