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Flexible spending credit card ?

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Frequent Contributor

Flexible spending credit card ?

My bbt cash rewards card is reporting as a flexible spending credit card.what does it mean ? .ive never seen that before.thanks
08 ficos 9/2019 eq 685 tu 704 ex 677
Message 1 of 9
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Contributor

Re: Flexible spending credit card ?

Not too much. You can go above your credit limit technically.
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Message 2 of 9
Frequent Contributor

Re: Flexible spending credit card ?

Flex Spend means that your credit limit isn’t a hard stop. They may approve purchases over your credit limit.

If approved, the amount over your set limit is due in full on your next statement cut.
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Message 3 of 9
Frequent Contributor

Re: Flexible spending credit card ?

Ok thats a good feature but i dont plan on getting anywhere close to my limit .but you never know in this old world
08 ficos 9/2019 eq 685 tu 704 ex 677
Message 4 of 9
Moderator Emeritus

Re: Flexible spending credit card ?

In the distant past and I assume today, you are allowed to exceed the credit line/limit assigned to the credit card. Generally, the flexible spending option required the amount exceeding the assign credit line/limit to be repayed with the next statement period plus the required minimum payment as established in the credit card Terms & Conditions.

 

Now a qualifier, most lenders used to state they would approve over the credit line/limit expenditures on a purchase by purchase basis. You say what, they use their computer systems to monitor your other card activities in the bureau, DTI and what you have outstanding against the card before approving that a purchase may be made. All this happens quickly today.

 

Unlike American Express that essentially says you can spend what ever we allow depending on our ongoing systems, flexible spending is more tied to your credit line/limit. In truth, it operates similar to American Express.

 

Years back, around  August 2015 both Visa and MasterCard discontinued the requirement that all credit cards with credit lines/limits over $5,000 shall be offering revolving "flexible spending" options. Slowly over time some lenders have eliminated the option. So, it is a nice benefit just in case or your traveling and need a little extra flex until you can get back home.Smiley Happy

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Regular Contributor

Re: Flexible spending credit card ?

Thank you 


Message 6 of 9
Community Leader
Valued Contributor

Re: Flexible spending credit card ?

Yeah, my USB Cash + reported that way too. I guess it just means that you could go over your limit if necessary. I never tried it out though lol 

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Moderator Emeritus

Re: Flexible spending credit card ?


@pinkandgrey wrote:

Yeah, my USB Cash + reported that way too. I guess it just means that you could go over your limit if necessary. I never tried it out though lol 


Where is your USB Cash+ we had a club? Maybe ... Smiley Embarassed

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Message 8 of 9
Senior Contributor

Re: Flexible spending credit card ?


@pinkandgrey wrote:

Yeah, my USB Cash + reported that way too. I guess it just means that you could go over your limit if necessary. I never tried it out though lol 


That's exactly what it means, assuming that the issuer will authorize the charge.

 

The only issuer I've ever done it with was Chase when I had a very large medical bill, and there were never any repercussions.  They didn't even blink an eye.

(8/2019)
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