Senior Contributor
Posts: 4,469
Registered: ‎12-11-2011

Re: Flexible spending credit card

Any amount over the limit needs to be PIF on that due date. The amount they let you go over your limit is up to them. If you're going to make a large purchase over your limit I would call up and see if they'll approve it.
Posts: 91
Registered: ‎10-31-2012

Re: Flexible spending credit card

HiLine wrote:

Having a Visa signature will not help your utilization unless you intentionally stack a high balance for once. However, a Visa signature is a very reputable card. Under manual review, underwriters know that the limit on the card is at least 5,000, and that the credit quality of the borrower is at least very good.

Plus they can always (manual or otherwise) factor in any debt from your flexible spending credit card into your overall debt:income ratio (although this should hopefully not be significant).


Now what would be interesting is if somebody managed to get a large transaction to post (in some excess of the credit limit) on a Signature/World card that didn't report CL to the bureaus. My understanding is you are meeting your obligations if you PIF the amount in excess of your credit limit after it posts. OTOH, if they ever decide to start posting the limit, you'll have a high balance higher than your CL, but a) I think systems will recognize the flexible spending credit card and b) I had a high balance of 10% and 3% in excess of my CL on the two cards I had when I applied for a CSP (~10% util at the time, of course) and they didn't seem to mind.

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+