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Flexible Spending?

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my25reasons
Regular Contributor

Flexible Spending?

Hello all,

 

I have a Chase Amazon card that I received in April of this year. It has (had?) a $5,000 cl. At one point during the year I used a balance transfer of $4,000 and then paid it back a few months later. Other than the balance transfer, I really only use the card for small purchases on Amazon.com.

 

I was reviewing my credit report and noticed that there is a notation on this card stating that it has a flexible spending limit, however, it still states that this card has a $5,000 limit. When I log in to my online account, it still says that the limit is $5,000.

 

So which is it? and what is a flexible spending limit??

 

Thanks for your input.

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Experian Direct PLUS scores: Experian 744/ Equifax 763/ TU 744
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2 REPLIES 2
PetRaccoon
New Contributor

Re: Flexible Spending?

If you charge (or attempt to charge) over your limit, the bank at its discression (usually with a Hard Pull, and based on your history with them) may increase your limit to compensate for the purchases over your limit.

TU08:: 754 (4/14) EQ: 745 (6/14) 753 (1/13) Ex: 766 (12/11)
Goal: 800! Then Keep it there and keep growing!~
Card(s): HSBC Premier WMC: 5,000 (7/09), Chase Freedom 6,000 (11/11) BCE 3,200 (12/11) Chase Saph: 5,000 (5/12)
Message 2 of 3
Anonymous
Not applicable

Re: Flexible Spending?


@PetRaccoon wrote:

If you charge (or attempt to charge) over your limit, the bank at its discretion (usually with a Hard Pull, and based on your history with them) may increase your limit to compensate for the purchases over your limit.


I agree, but I'm not sure about the "hard pull" part, I believe if you're offered the flexible spend option you are able to go over your limit, but, as you said at Chase's discretion.

 

The reason I say that is because when I first got my BoA Visa Siggy it reported as a "Flexible Spending Card" (no CL) and I called in and asked what that meant, and I was told that I could go over my CL, but as to how much over, was at BoA's discretion, I was just told it would be based off my "history" with them, I was never informed of any type of credit pull, just based off my history with them. (Usage/ Payment ect.....history)

 

JME.

 

 

 

 

 

Message 3 of 3
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