topic Chase reports as Flexible spending credit card in Credit Cards

Chase reports as Flexible spending credit card

Tszone — Sat, 24 Jan 2015 14:59:39 GMT

Would the way they report the card have a positive or negative affect on my score?

Re: Chase reports as Flexible spending credit card

Anonymous — Sat, 24 Jan 2015 15:07:47 GMT

That will have no impact whether it's a positive or negative trade line. A lot of cards report that way now and it doesn't affect your score one bit. Only the way you handle the account will determine that.

Re: Chase reports as Flexible spending credit card

Anonymous — Sat, 24 Jan 2015 15:44:56 GMT

@Anonymous wrote:
That will have no impact whether it's a positive or negative trade line. A lot of cards report that way now and it doesn't affect your score one bit. Only the way you handle the account will determine that.

+1.

Re: Chase reports as Flexible spending credit card

Anonymous — Sat, 24 Jan 2015 16:01:19 GMT

You must have gotten a Chase VISA Signature card. My Chase siggy cards report as flexible while my non-siggy Chase cards report with the limit.

It's kind of similar to AMEX NPSL and doesn't hurt your score.

Re: Chase reports as Flexible spending credit card

CreditCuriosity — Sat, 24 Jan 2015 16:02:42 GMT

Just means you can spend beyond the limit if needed, by how much not really sure... Obviously you would have to pay all that off beyond the limit when statement closes and hopefully alot more

Re: Chase reports as Flexible spending credit card

disdreamin — Sat, 24 Jan 2015 17:22:50 GMT

Interesting! Just changed to a signature and got the updated agreement and wondered about that change in terminology. Thank you for the explanation.

Re: Chase reports as Flexible spending credit card

happypill — Sat, 24 Jan 2015 18:03:41 GMT

@CreditCuriousity wrote:
Just means you can spend beyond the limit if needed, by how much not really sure... Obviously you would have to pay all that off beyond the limit when statement closes and hopefully alot more

Yes, you can spend beyond the limit, but your minimum payment for the month will bring it down below your limit.

I had a bad customer service experience years ago with Citi regarding this issue (way way way before I learned about creidt at myFICO). I called in for a credit limit increase to pay at a wine auction. The CS did an increase of $2k and used a HP on my account (don't recall if she asked). Then, after doing that she said "oh, BTW you could have just gone over without asking for a CLI. Your limit isn't fixed but you just need to pay it down when your statement comes." Thanks for telling me after the fact!

Re: Chase reports as Flexible spending credit card

Anonymous — Sat, 24 Jan 2015 18:31:34 GMT

@CreditCuriousity wrote:
Just means you can spend beyond the limit if needed, by how much not really sure... Obviously you would have to pay all that off beyond the limit when statement closes and hopefully alot more

+1'

Visa signature cards are generally flexible spending cards because you can potentially spend over the credit limit. As the other poster stated, if you spend over the limit, your minimum payment will go up to the amount you went over the limit on top of the normal minimum payment (e.g. 5k limit with 5k spend = $100 normal minimum payment, but if you go over limit to 6k, minimum payment would be $1100 assuming a 2% standard minimum payment).

Re: Chase reports as Flexible spending credit card

Tszone — Sat, 24 Jan 2015 19:40:04 GMT

Thanks everyone

Re: Chase reports as Flexible spending credit card

Anonymous — Sat, 24 Jan 2015 22:41:02 GMT

@Anonymous wrote:
That will have no impact whether it's a positive or negative trade line. A lot of cards report that way now and it doesn't affect your score one bit. Only the way you handle the account will determine that.

Re: Chase reports as Flexible spending credit card

Anonymous — Sun, 25 Jan 2015 01:15:41 GMT

World MasterCards or World Elite MasterCards will also report as a flexible spending account.

When my Sallie Mae started reporting recently it was listed as a flexible spending account.

Re: Chase reports as Flexible spending credit card

Anonymous — Mon, 26 Jan 2015 14:18:44 GMT

@Anonymous wrote:
World MasterCards or World Elite MasterCards will also report as a flexible spending account.

When my Sallie Mae started reporting recently it was listed as a flexible spending account.

Most cards will. Citi Forward Visa Signature and Citi Double Cash World Mastercard will not as they are not NPSL. Of late, Mastercard and Visa have greatly relaxed their standards and it is up to the lender whether they will even include NPSL on their premium cards. Look at the visa.com/signature site and you will notice they have deleted references to NPSL.

Re: Chase reports as Flexible spending credit card

Anonymous — Mon, 26 Jan 2015 14:20:43 GMT

@Anonymous wrote:
World MasterCards or World Elite MasterCards will also report as a flexible spending account.

When my Sallie Mae started reporting recently it was listed as a flexible spending account.

Your Barclay's Sallie Mae World Master Card has a true NPSL. This option is now and option with premium card issuers.