topic Re: Time to Report / Flex Spend CC in Credit Cards

Time to Report / Flex Spend CC

vpae — Fri, 09 Aug 2013 15:13:41 GMT

It's amazing to me how quickly some lendors report to the Credit Bureaus.

With my recent App/CLI Spree last week and a 1/2 ago. 3 Of the cards are already reported to some of the CRA. The FIA Fidelity Amex Apped on 7/28 and reported as of 7/29!!

I have 2 cards reporting that I haven't even received yet! PayPal Extras MC and Citi TY Preferred. Which by the way, is reporting as a "Flexible Spending Credit Card". Visa Signature? Will this count into my utilization?

Re: Time to Report / Flex Spend CC

eddie84 — Fri, 09 Aug 2013 15:26:30 GMT

My BofA Travel Rewards card (Visa Signature) also reports as Flexible Spending account and from the info I got on here, it shouldn't count against your utilization. Hope that helps.

Re: Time to Report / Flex Spend CC

vpae — Fri, 09 Aug 2013 15:35:21 GMT

Cool thanks!

That means my Citi TYP is probably a Visa Signature card.

I'm considering upgrading my BofA Cahs Rewards to a Signature. I really don't need the CLs to report, I have enough that it shouldn't make any impact on my utilization.

I guess it's just nice knowing I have all these upgraded Visa Signature cards, it feels like a milestone or success in my rebuilding process. Now if I can only get my hands on some WMC or WEMC. They seem to be hard to come by.

Also, BofA seems to update to the CRA a lot. I have been pulling all 3 reports daily and it feels like BofA/FIA constantly updates. When Lenders update to CRA, are they also soft pulling to do AR? Since I opened up so many accounts recently, I wonder they are updating/softpulling to consider FR/AA.

Re: Time to Report / Flex Spend CC

HiLine — Fri, 09 Aug 2013 15:38:16 GMT

@eddie84 wrote:
My BofA Travel Rewards card (Visa Signature) also reports as Flexible Spending account and from the info I got on here, it shouldn't count against your utilization. Hope that helps.

The card will be taken into account when utilization is calculated.

Bank of America always reports VERY fast.

Re: Time to Report / Flex Spend CC

icloud2525 — Fri, 09 Aug 2013 16:22:18 GMT

I don't believe the TY preferred comes in a siggy. At least mine isn't. If yours comes as one please let me know. The card itself is just a flexible spending card. Mine reports that way as well but no mention of signature anywhere.

Re: Time to Report / Flex Spend CC

vpae — Fri, 09 Aug 2013 16:26:49 GMT

@icloud2525 wrote:
I don't believe the TY preferred comes in a siggy. At least mine isn't. If yours comes as one please let me know. The card itself is just a flexible spending card. Mine reports that way as well but no mention of signature anywhere.

Oh, gotcha. I am confusing flexible spending card/npsl with signature. Thanks for the clarification!

Re: Time to Report / Flex Spend CC

eddie84 — Fri, 09 Aug 2013 16:59:49 GMT

@HiLine wrote:
@eddie84 wrote:
My BofA Travel Rewards card (Visa Signature) also reports as Flexible Spending account and from the info I got on here, it shouldn't count against your utilization. Hope that helps.
The card will be taken into account when utilization is calculated.

Bank of America always reports VERY fast.

Well, Lexie said it isn't factored into the FICO score and here's the link. I was under the impression that if it isn't factored into the FICO score then it shouldn't effect the utilization (for scoring purpose).

Re: Time to Report / Flex Spend CC

sccredit — Fri, 09 Aug 2013 16:49:04 GMT

I can tell you that of my 3 Signature cards (2 Chase and 1 Citi) all of them are taken into account for utilization. Maybe it is because all 3 report limit whereas BofA does not. All 3 Siggys are reported as Felxible Spending Cards.

Re: Time to Report / Flex Spend CC

eddie84 — Fri, 09 Aug 2013 16:50:34 GMT

Yah, I wish BofA would report the CL since that's my highest. lol

Re: Time to Report / Flex Spend CC

vpae — Fri, 09 Aug 2013 16:53:41 GMT

@eddie84 wrote:
Yah, I wish BofA would report the CL since that's my highest. lol

That is one of my highest too. the only thing setting me back from converting to a siggy. decisions decisions!

Re: Time to Report / Flex Spend CC

eddie84 — Fri, 09 Aug 2013 17:00:55 GMT

@vpae wrote:
@eddie84 wrote:
Yah, I wish BofA would report the CL since that's my highest. lol
That is one of my highest too. the only thing setting me back from converting to a siggy. decisions decisions!

I look at it this way, it motivates me to get my other cards CL up to that same limit or higher.

Re: Time to Report / Flex Spend CC

Anonymous — Fri, 09 Aug 2013 17:01:52 GMT

@icloud2525 wrote:
I don't believe the TY preferred comes in a siggy. At least mine isn't. If yours comes as one please let me know. The card itself is just a flexible spending card. Mine reports that way as well but no mention of signature anywhere.

hmm id be a little surprised the visa version doesn't come in a visa sig. I just got a World Mastercard version 3 months ago(and a sub 5k line too)

Flexible spending is used to signify NPSL credit cards (visa sig/world mastercard). the credit report wouldn't mention being a visa signature or world mastercard, or platinum visa, etc..

Re: Time to Report / Flex Spend CC

vpae — Fri, 09 Aug 2013 17:04:25 GMT

@Anonymous wrote:
@icloud2525 wrote:
I don't believe the TY preferred comes in a siggy. At least mine isn't. If yours comes as one please let me know. The card itself is just a flexible spending card. Mine reports that way as well but no mention of signature anywhere.
hmm id be a little surprised the visa version doesn't come in a visa sig. I just got a World Mastercard version 3 months ago(and a sub 5k line too)

Flexible spending is used to signify NPSL credit cards (visa sig/world mastercard). the credit report wouldn't mention being a visa signature or world mastercard, or platinum visa, etc..

When I apped online, there was a radio button I needed to choose, but Visa was the only option. I wonder if I can PC the TYP from Visa to a WMC? Doesn't it also come in an WEMC?

Re: Time to Report / Flex Spend CC

Anonymous — Fri, 09 Aug 2013 17:17:16 GMT

do you actually have your card in hand yet? id be surprised to see a visa platinum reporting as flexible spending

Re: Time to Report / Flex Spend CC

vpae — Fri, 09 Aug 2013 17:25:13 GMT

@Anonymous wrote:
do you actually have your card in hand yet? id be surprised to see a visa platinum reporting as flexible spending

Unfortunately not. Apped 7/27, Approved 7/31. Nothing yet. I hope I get it today. It doesn't automatically show up on my Citi account so I can't see it online.

An email from them just says

We're excited to let you know that you have been approved for the Citi ThankYou® Preferred Card with a revolving credit line of $10,000. You will be receiving your card shortly. You are officially a Citi® cardmember as of 07/31/2013.

Now you have access to great card benefits¹:

•		Earn 2 ThankYou® Points for every dollar spent on purchases for dining at restaurants and entertainment. Plus, earn 1 ThankYou Point per dollar spent on other purchases.²

•		Enjoy no point expiration and no limit on the number of points you can earn

•		Redeem points for an amazing selection of rewards including gift cards, merchandise and more

•		Enjoy global acceptance and enhanced security when you use your card at merchants that use chip terminals to accept your payment

Re: Time to Report / Flex Spend CC

HiLine — Fri, 09 Aug 2013 17:43:20 GMT

@eddie84 wrote:
@HiLine wrote:
@eddie84 wrote:
My BofA Travel Rewards card (Visa Signature) also reports as Flexible Spending account and from the info I got on here, it shouldn't count against your utilization. Hope that helps.
The card will be taken into account when utilization is calculated.

Bank of America always reports VERY fast.
Well, Lexie said it isn't factored into the FICO score and here's the link. I was under the impression that if it isn't factored into the FICO score then it shouldn't effect the utilization (for scoring purpose).

I don't know on what basis she made that comment, through personal experience, via hearing from other people, or what else. What I am telling you is from my personal experience with the 2 FICO scores that MyFICO makes available. It has been commonly believed on this board that the high balance of a Visa Signature card that doesn't report the credit limit is used in lieu of the credit limit. Spend a couple of minutes looking through previous threads and you'll see an overwhelming majority saying that.

Re: Time to Report / Flex Spend CC

icloud2525 — Fri, 09 Aug 2013 18:05:25 GMT

@Anonymous wrote:
@icloud2525 wrote:
I don't believe the TY preferred comes in a siggy. At least mine isn't. If yours comes as one please let me know. The card itself is just a flexible spending card. Mine reports that way as well but no mention of signature anywhere.
hmm id be a little surprised the visa version doesn't come in a visa sig. I just got a World Mastercard version 3 months ago(and a sub 5k line too)

Flexible spending is used to signify NPSL credit cards (visa sig/world mastercard). the credit report wouldn't mention being a visa signature or world mastercard, or platinum visa, etc..

DIdn't mean the credit report mentioning it, meant on the card itself, terms and conditions, welcome papers or anywhere. Says on site about card "No Pre–set Spending Limit2
There’s no need to worry about hitting your spending limit, as long as you pay in full each month the amount that exceeds your revolving credit limit." I beleve it's just a card feature Citi has with it, not an official signature.

Re: Time to Report / Flex Spend CC

sccredit — Fri, 09 Aug 2013 18:38:20 GMT

@icloud2525 wrote:
@Anonymous wrote:
@icloud2525 wrote:
I don't believe the TY preferred comes in a siggy. At least mine isn't. If yours comes as one please let me know. The card itself is just a flexible spending card. Mine reports that way as well but no mention of signature anywhere.
hmm id be a little surprised the visa version doesn't come in a visa sig. I just got a World Mastercard version 3 months ago(and a sub 5k line too)

Flexible spending is used to signify NPSL credit cards (visa sig/world mastercard). the credit report wouldn't mention being a visa signature or world mastercard, or platinum visa, etc..
DIdn't mean the credit report mentioning it, meant on the card itself, terms and conditions, welcome papers or anywhere. Says on site about card "No Pre–set Spending Limit2
There’s no need to worry about hitting your spending limit, as long as you pay in full each month the amount that exceeds your revolving credit limit." I beleve it's just a card feature Citi has with it, not an official signature.

If it says it on the site it is very likely a Signature card. You could always call them and ask....

Re: Time to Report / Flex Spend CC

vpae — Fri, 09 Aug 2013 19:27:53 GMT

Well, I just got my card. The logo on it is just a VISA. No Signature.

It has the Chip thou.

On the supplied documentation, nothing about Signature. One paragrah says

"With no preset spending limit, each charge that causes your balance to exceed your revolving credit limit will be evaluated based on accoutn usage and performance, other account relationships with us (if applicable), and your experience with other creditors. You must pay in full each month any amount that exceeds your revolving credit limit. Available for Citi ThankYou Preferred cardmembers."

So yeah, it must be a Citi thing. :/

Re: Time to Report / Flex Spend CC

resilient — Fri, 09 Aug 2013 19:42:51 GMT

The BofA Susan G Komen is a WMC that is the same exact card as to Cash Rewards. It reports the credit line to the CRAs and also states "flexible spending account".