No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@mrmagic9799 wrote:
I just spoke with a seemingly knowledgable CSR at AMEX, and she stated that in "6 months with an excellent history with the card it'll be lifted and you can spend more than enough" She said this is a program they started for college students and people new to credit because they usually get into trouble within the first 6 mths.. So NO MORE APPS, AND KEEPING THOSE BALANCES LOW FOR ME AND WE'll see
I have had this card with the 500/Autopay option for 14 months now and the limit still has not been removed or increased. Now I don't have excellent credit, but you would think after 1 yr they would remove it or at least increase it. I run anywhere between $500-$800 on a monthly basis and always multiple times per month.
@mrmagic9799 wrote:
I just spoke with a seemingly knowledgable CSR at AMEX, and she stated that in "6 months with an excellent history with the card it'll be lifted and you can spend more than enough" She said this is a program they started for college students and people new to credit because they usually get into trouble within the first 6 mths.. So NO MORE APPS, AND KEEPING THOSE BALANCES LOW FOR ME AND WE'll see
Did they ever lift your PSL?
I think initially they might have done that to some people, but for the most part you don't hear about anyone getting it lifted anymore.
It virtually never happens. The Zync with a toy hard limit is basically a subprime product offered by a prime lender. Use it well as a springboard to something else, but don't expect it to grow with you or you'll be sorely disappointed.
@jsucool76 wrote:I think initially they might have done that to some people, but for the most part you don't hear about anyone getting it lifted anymore.
@CreditScholar wrote:It virtually never happens. The Zync with a toy hard limit is basically a subprime product offered by a prime lender. Use it well as a springboard to something else, but don't expect it to grow with you or you'll be sorely disappointed.
@jsucool76 wrote:I think initially they might have done that to some people, but for the most part you don't hear about anyone getting it lifted anymore.
In fairness, the Zync and even the rest of the charge card products are sorta sub-prime especially if you go off the actual FICO definition of prime vs. subprime.
In any event, the vast majority of this forum uses Amex charge cards as a foot in the door, and the Zync works just fine for that. Regardless of whether you consider it prime or not, an Amex relationship is still absolutely worthy to have for one's future FICO plans... which likely everyone on this forum has some sort of goal on.
Edit: in thinking about it more, it doesn't surprise me that the Zync limit wouldn't be removed: I don't think Amex considers the Zync as one of their goal cards, namely they're hoping you'll move onto bigger and better things in the future.
Personally I'd be just fine with a $500 limit on mine, though I'm starting to think I have a reasonable shot at NPSL as well.... but for me it's all backdating and the eventual Amex revolver at some point in the future.
This may have been asked already, so sorry if it has but...
If you get the hard limit, does your balance on the card start affecting your utilization, or no?
@jsucool76 wrote:This may have been asked already, so sorry if it has but...
If you get the hard limit, does your balance on the card start affecting your utilization, or no?
Nope, it's the same as any other charge card... the term is still one month and that's what gets the charge cards excluded under FICO '04 and FICO '08; however, your high balance isn't going to be particularly significant, and if you do get stuck with a '98 FICO pull, it could be worse as a result of the limited high balance.
Regardless of whether it is a charge card or not, it still has subprime-like terms. If you didn't know it was an Amex and only heard the terms: a $200-500 limit credit card, plus an annual fee and a subpar rewards program that offers ~1% sounds like a subprime card. I agree that the benefits are primarily to build a relationship with Amex, but it's an anomaly when compared to many of their other (better) products. I think people get overly excited about getting one when the card itself is frankly pretty lousy.
@Revelate wrote:
@CreditScholar wrote:It virtually never happens. The Zync with a toy hard limit is basically a subprime product offered by a prime lender. Use it well as a springboard to something else, but don't expect it to grow with you or you'll be sorely disappointed.
@jsucool76 wrote:I think initially they might have done that to some people, but for the most part you don't hear about anyone getting it lifted anymore.
In fairness, the Zync and even the rest of the charge card products are sorta sub-prime especially if you go off the actual FICO definition of prime vs. subprime.
In any event, the vast majority of this forum uses Amex charge cards as a foot in the door, and the Zync works just fine for that. Regardless of whether you consider it prime or not, an Amex relationship is still absolutely worthy to have for one's future FICO plans... which likely everyone on this forum has some sort of goal on.
Edit: in thinking about it more, it doesn't surprise me that the Zync limit wouldn't be removed: I don't think Amex considers the Zync as one of their goal cards, namely they're hoping you'll move onto bigger and better things in the future.
Personally I'd be just fine with a $500 limit on mine, though I'm starting to think I have a reasonable shot at NPSL as well.... but for me it's all backdating and the eventual Amex revolver at some point in the future.
Congrats on your approval be the way