‘Flexible Spending Account’ gone on CR’s

[Credit_hawk]

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.

[CreditInspired]

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.

[FinStar]

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.

[CreditInspired]

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

[zerofire]

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.

[Drwaz99]

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.

[Anonymous]

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@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.

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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.

[blindambition]

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@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.

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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. 

[RobertEG]

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.

[Credit_hawk]

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.