topic Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC? in Credit Cards

Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Credit_hawk — Sat, 20 Feb 2016 00:06:57 GMT

Hey guys,

As someone who holds 3 Visa Signatures and 1 World Elite MasterCard I have noticed that these designations are highly sought after on these boards. But I rarely ever hear of anybody actually utilizing the flex-spend feature on their cards. I know I have never even been close to my limits let alone made use of the flex-spend feature. So, how many of you MyFico'ers have made use of their no preset spending limit on these cards and by how much did you go over your designated limit? Thanks!

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

mikelo22 — Sat, 20 Feb 2016 00:10:06 GMT

Never have, and I don't plan on ever doing it in the future either.

It just seems like one of those features that the lender offers you, but they don't actaully want you to use it.

You know how it is, some lenders give you a big limit, then get upset when you use it Same with Balance Transfers and Cash Advances, depending upon the Lender.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sat, 20 Feb 2016 00:10:32 GMT

I wonder how much they'd let you go over your CL? I'd never consider it, personally.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Credit_hawk — Sat, 20 Feb 2016 00:32:22 GMT

I've only ever heard of one story on here and it was around November of someone running up the card to the max of the flex-spend and it let them double their original limit before cutting the card off and shutting it down I believe. It was a Chase Freedom Visa Signature and the cardholder said he needed the money and it was more important to him than the possible repercussions with the bank. So I believe he was stuck with a card that was cancelled and a large bill. Now obviously he took huge advantage of it and even was pulling small amounts towards the end of the total transaction before it cut off entirely. I believe he said it stopped approving $5k increments so he tried a couple $1k pulls and it went through then finally stopped.

Edit: This was all in one day I believe.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sat, 20 Feb 2016 00:34:36 GMT

^ lmfao i know exactly what situation you're referring to. there was A LOT of moral discussion in that post

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Kevin86475391 — Sat, 20 Feb 2016 00:58:14 GMT

I don't tend to even go above about 8 or 9% utilization on any of my cards before PIFing, so I certainly don't expect to exceed my limit.

I've never actually used any of the benefits of a Visa Sig or WMC/WEMC. I do like the Visa Sig better than the regular Visa though...but it's for one very silly reason: the logo's prettier.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sat, 20 Feb 2016 01:01:06 GMT

My old Citi Dividend was a World MC with flex spend. The limit, at the time ,was $1200 and wanted to charge school on it for the semester. Total was $1500 and already had a small balance on it. It went through fine. I then went to TacoBell after the school was charged and it was declined. No double decker tacos for me .

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

galahad15 — Sat, 20 Feb 2016 01:13:52 GMT

@Credit_hawk wrote:
Hey guys,

As someone who holds 3 Visa Signatures and 1 World Elite MasterCard I have noticed that these designations are highly sought after on these boards. But I rarely ever hear of anybody actually utilizing the flex-spend feature on their cards. I know I have never even been close to my limits let alone made use of the flex-spend feature. So, how many of you MyFico'ers have made use of their no preset spending limit on these cards and by how much did you go over your designated limit? Thanks!

In the past 10 years, I have used the flex spend feature of my WMC cards at least twice, but I didn't go over by too much if I'm remembering right, maybe about $100 - $200 or so?

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Chris679 — Sat, 20 Feb 2016 01:16:35 GMT

I doubt there are many that use the feauture but this is a forum full of people who love credit cards. If you come out with a better/flashier/more exclusive card or program with nicer rewards/prettier card/flashier logo/additional benefits then you bet we will be all over it.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Kevin86475391 — Sat, 20 Feb 2016 02:10:49 GMT

@Credit_hawk wrote:
I've only ever heard of one story on here and it was around November of someone running up the card to the max of the flex-spend and it let them double their original limit before cutting the card off and shutting it down I believe. It was a Chase Freedom Visa Signature and the cardholder said he needed the money and it was more important to him than the possible repercussions with the bank. So I believe he was stuck with a card that was cancelled and a large bill. Now obviously he took huge advantage of it and even was pulling small amounts towards the end of the total transaction before it cut off entirely. I believe he said it stopped approving $5k increments so he tried a couple $1k pulls and it went through then finally stopped.

Edit: This was all in one day I believe.

LOL, thanks for mentioning this thread. I Googled and found it and it was insanely entertaining and fun to read. It took Herculean effort not to bump it and add my own thoughts at the end, but I thought it better to let sleeping threads lie. Definitely a great read though.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

CreditJim — Sat, 20 Feb 2016 04:15:35 GMT

How do I find that thread!?

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Kevin86475391 — Sat, 20 Feb 2016 04:27:09 GMT

@CreditJim wrote:
How do I find that thread!?

Here you go:
http://ficoforums.myfico.com/t5/Credit-Cards/Chase-Freedom-over-the-limit/td-p/4251244

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sat, 20 Feb 2016 04:37:01 GMT

I used flex spend on my Simplicity during its 0% period to pay a medical bill and they auto CLI'd it so it wasn't even maxxed anymore.

I don't recommend this as a means of getting CLI but it was a nice surprise.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sat, 20 Feb 2016 17:15:59 GMT

Where's the half dozen people with the $300 buy powers? Worth experimenting with. Mines a $3000 so heck no haha

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sat, 20 Feb 2016 22:19:23 GMT

My Quicksilver World Mastercard reports as a flex spend card, but I would be scared to death to use it. You never know if these companies stand behind their benefits or if you will end up getting declined for your tacos. Nobody wants to have their tacos declined.

On a side note, I am totally craving a steak quesadilla now.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

baller4life — Sat, 20 Feb 2016 23:19:27 GMT

@Kevin86475391 wrote:
@CreditJim wrote:
How do I find that thread!?
Here you go:
http://ficoforums.myfico.com/t5/Credit-Cards/Chase-Freedom-over-the-limit/td-p/4251244

Yo that thread was bananas!

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

wacdenney — Sun, 21 Feb 2016 06:57:15 GMT

Wow, that's genius... Dude got a 26K loan for essentially a negative interest rate after the 1% rewards. It looks like all it really cost him was a 20 point score hit.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sun, 21 Feb 2016 13:21:50 GMT

well... and a possible black list.

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Anonymous — Sun, 21 Feb 2016 15:28:07 GMT

I just googled that thread and read every single page. OMG!!!!!!! That was crazy!!

Re: Who Has Ever Actually Used Their Flex-Spending Feature on VS or WMC?

Involver — Sun, 21 Feb 2016 17:05:36 GMT

I charged over the limit of one of my cards by several thousand dollars to fund a CitiGold account.