topic Re: ‘Flexible Spending Account’ gone on CR’s in General Credit Topics

‘Flexible Spending Account’ gone on CR’s

Credit_hawk — Wed, 13 Feb 2019 21:16:58 GMT

Hey guys, not a big deal post but just a change I noticed today. I checked my credit report and noticed the account type changed from “flexible spending account” to “credit card” on my Bank of America Visa Signature.

Anyone else notice this change?

**Edit** I just went through my credit report archives and it appears the change occurred the month Bank of America sent me a new card after they told me my card may have been compromised. They changed the account numbers on the card. Even though the new card they sent me was still a Visa Signature, it seems it’s now reporting different. It’s always something.

Re: ‘Flexible Spending Account’ gone on CR’s

CreditInspired — Thu, 14 Feb 2019 17:33:01 GMT

Hmmmm I’ve had a FSA account for years and have never, ever seen it reported on any CR. I wonder why it’s being reported in the first place since the funds are pre-tax dollars.

Re: ‘Flexible Spending Account’ gone on CR’s

FinStar — Thu, 14 Feb 2019 23:23:06 GMT

I believe the OP is referencing the Flexible Spending Limit naming convention associated with most Visa Signature/Infinite and/or World/World Elite MC, for instance.

AFAIK, the actual FSAs (health care wise) aren't reported since it's usually a 'debit' card program for most providers.

Re: ‘Flexible Spending Account’ gone on CR’s

CreditInspired — Thu, 14 Feb 2019 23:38:34 GMT

😂🤣😂🤣 thanks @FinStar. Now, flexible spending limit makes sense.

Re: ‘Flexible Spending Account’ gone on CR’s

zerofire — Fri, 15 Feb 2019 17:53:51 GMT

Clearly @CreditInspired has a healthy dose of imagination free of charge.

The reports sometimes have the account type messed up slightly. As long as the reported information is accurate still then there is no issue. If a credit card comes up as a mortgage or car loan then you have an issue. Also the bureau actually get the account number listed but reports never make it available unless they are from the bureau. If the card was replaced recently then all the information might not have been updated as the card number is the account number. The bank will update it at the bureau when they have time.

Re: ‘Flexible Spending Account’ gone on CR’s

Drwaz99 — Sun, 17 Feb 2019 16:18:39 GMT

For me, Credit Karma and WalletHub show my WEMC Aviator Red as a flexible spending credit card. Experian (app and online) just show it as a revolving account. MyFico shows it as flexible spending credit cards. I wonder if it is simply how the dashboards are coded.

Re: ‘Flexible Spending Account’ gone on CR’s

Anonymous — Sun, 17 Feb 2019 19:11:16 GMT

@Credit_hawk wrote:
Hey guys, not a big deal post but just a change I noticed today. I checked my credit report and noticed the account type changed from “flexible spending account” to “credit card” on my Bank of America Visa Signature.

Anyone else notice this change?

**Edit** I just went through my credit report archives and it appears the change occurred the month Bank of America sent me a new card after they told me my card may have been compromised. They changed the account numbers on the card. Even though the new card they sent me was still a Visa Signature, it seems it’s now reporting different. It’s always something.

In the past Barclay's has issued World and World Elite Master Cards with what they call a "Revolving Credit Line" that does allow you to exceed the maximum credit line (Flexible Spending). For example, I had a regular Barclay Master Card and they had a fixed credit line (do not exceed) and on the Barclay Sallie Mae World Master Card, I had a "Revolving Credit Line." Look at your statement and see if it refers to your Credit Line as "Revolving". You may have a flexible spending card.

Re: ‘Flexible Spending Account’ gone on CR’s

blindambition — Sun, 17 Feb 2019 19:15:55 GMT

@Credit_hawk wrote:
Hey guys, not a big deal post but just a change I noticed today. I checked my credit report and noticed the account type changed from “flexible spending account” to “credit card” on my Bank of America Visa Signature.

Anyone else notice this change?

**Edit** I just went through my credit report archives and it appears the change occurred the month Bank of America sent me a new card after they told me my card may have been compromised. They changed the account numbers on the card. Even though the new card they sent me was still a Visa Signature, it seems it’s now reporting different. It’s always something.

I have a Chase Amazon account that normally codes as revolving, but has coded as FSA. I noticed this happens when I take advantage of an equal payment, or 6 month offer.

Re: ‘Flexible Spending Account’ gone on CR’s

RobertEG — Tue, 19 Feb 2019 20:32:45 GMT

The Credit Reporting REsource Guide, which is the common credit reporting manual used by the big-4 CRAs, provides the following reporting code 0G, which applies generally to any revolving account.

Since yours is specifically a credit card, then they apparently are now reporting under that specific account type.

Did you recently have any notice of change of account terms?

Code 0G Flexible Spending Credit Card

Credit card with no preset spending limit. The credit card has a Credit Limit, but the terms of the card allow the consumer to exceed that amount. Refer to Frequently Asked Question 50 for reporting guidelines.

Re: ‘Flexible Spending Account’ gone on CR’s

Credit_hawk — Wed, 27 Feb 2019 06:11:03 GMT

Thanks for all the responses, guys. I'll try to respond to everyone at once. I did notice the "Flexible Spending" designation only shows up on TU & EQ credit reports. But not EX where it lists as "Credit Card." I checked this change using TU & EQ. It always used to register as Flexible Spending on there until October. I didn't notice or recall receiving any change in account terms. However, I received an email in October informing me my card was used at a compromised location so as a precaution they were sending a new card with all new numbers. When the new card first reported in late October it retained the original account opened date but changed the account numbers and the account type description from Flexible Spending to Credit Card. The card itself has a new design but is still a Visa Signature. It's the 321 cash rewards card. The only other change is I believe BofA now issues that card in MasterCard rather than the Visa Signature I have. Though I'm sure that is not the issue. It definitely seems to have glitched right when they replaced my old card. Maybe it will eventually correct itself. As long as the card retains the feature to spend past the limit, though I'll probably never use it, then I'm fine.

Re: ‘Flexible Spending Account’ gone on CR’s

Anonymous — Wed, 27 Feb 2019 10:53:05 GMT

Credit_hawk ... some additional information. August 1, 2015 First National Bank of Omaha eliminated the No Preset-Spending Limit option (Flexible Spending) from all their credit card products (due to a business decision) ... in further digging, found they wanted to cap any risk of loss (hackers etc) to the hard credit limit. Also, know that depending on the day of the week my USAA credit cards have showed the Flexible Spending option in the credit bureaus which when I contact USAA the customer service personnel say, it does not exist at this time. So I am not sure there is any big deal any more (there used to be an impact to utilization and how all this was reported several years back to the bureaus which did impacted many people - from the old days). When Visa and Master Card changed their NPSL/Flexible Spending requirements around August 1, 2015 to allow lenders to issue Visa Signature, Visa Infinite, World Master Card and World Elite Master Cards with out the $5,000 or more minimum credit lines/limits most of all this became moot. Go to Citi Cards now and look up their Terms & Condtions on many of their cards and you will see the reference to "Revolving Credit Limits" may be as low as $1,000 an on up to $5,000 (on their AF cards for sure). Watched mine in the bureaus like a hawk for a long time and called, generally the customer service personnel had no idea what was happening or even what I was talking about.