AMEX Zync card

[LS2982]

For those who applied and got approved, was it a hard card to get?? What were your scores?? this is ont of my wish list cards later in the year.

[trumpet-205]

First you need to have at least six months of history on your credit report (AMEX will reject you instantly if you don't). Do know that American Express pull Experian 99% of the time. You must never be late, no CO, or BK on your credit report. Keep utilization under 30%. Optionally have a second CC and you should be good to go.

[LS2982]

---

@trumpet-205 wrote:

First you need to have at least six months of history on your credit report (AMEX will reject you instantly if you don't). Do know that American Express pull Experian 99% of the time. You must never be late, no CO, or BK on your credit report. Keep utilization under 30%. Optionally have a second CC and you should be good to go.

---

What about auto loan lates?

[trumpet-205]

Depends on how recent and how serious your late is. Is it a 30 days late? 60 days? 90 days? 

Did it occur recently? A year before?

Do realize that AMEX and Discover are really sensitive to negative aspect. Of coure there are people that have been approved with Zync with a few lates. For some AMEX imposed additional condition such as setting up an autopay or hard limit ($200/$500).

[Guava]

---

@trumpet-205 wrote:

First you need to have at least six months of history on your credit report (AMEX will reject you instantly if you don't). Do know that American Express pull Experian 99% of the time. You must never be late, no CO, or BK on your credit report. Keep utilization under 30%. Optionally have a second CC and you should be good to go.

---

So 1 collection will also result in an automatic decline?

[trumpet-205]

If it happened recently, very likely yes. if it is something like 3 years before then maybe not.

[LS2982]

---

@trumpet-205 wrote:

Depends on how recent and how serious your late is. Is it a 30 days late? 60 days? 90 days? 

Did it occur recently? A year before?

Do realize that AMEX and Discover are really sensitive to negative aspect. Of coure there are people that have been approved with Zync with a few lates. For some AMEX imposed additional condition such as setting up an autopay or hard limit ($200/$500).

---

i have 7 30 days between the past 1-2 yrs

[trumpet-205]

With 7 lates, it is very likely that AMEX will reject you instantly. How about paying on time and write a good will letter to your lender, asking them to remove it (don't get your hope up, but it is worth a try).

[Open123]

Amex has their own proprietary scoring system based off of information compiled through Experian. 

While no one outside Amex knows exactly comprises their score, here are a few I've noticed over the years.  I've gotten these views from reading others' experiences and reading some of the transcripts of their earnings conference calls.

On one of the calls, they admitted that FICO comprised roughly 20% of the score.  The rest is made up of where you live, the other types of cards you have, classification of your profession, age, utilization, age of accounts, average balance, and usage (how much you charge cards and pay them off).

Excessive inquiries and/or the occasional late payment (under 60 day) didn't seem to play a huge role.  However, any BKs or COs seem to lead to a higher probability of denials.

With Amex, it really is difficult to "game" them, unless your FICO is a solid 750+.  With 6 months history with 2 cards, no lates, no COs, NO BKs, and moderately high usage (around $1,000 - $2,000 PIF per month), and I'm sure you'll be approved for the Zync, irrespective of your FICO score.  With lesser usage, I suspect the other factors need to be higher.  Amex seems to focus on what they call their "spendcentric" business model.

PS - With 7 lates, I suspect they'd deny your application. 

[sandman2435]

I was approved for both Zync and Green with Amex..with a BK7..thats 8 years old..But I also have been a 20 year Platinum as well..With AMEX...they were not part of my BK7..if you take care of AMEX..and pay them on time and keep a low balance with them..they well treat you good..I have never had a problem with AMEX....I even have a few Business Acct's with them as well...Even when I filed my BK...they did lower my limits and put a fixed credit limit on the charge cards  (ones you have to pay in full every month)..but has my credit got stronger and the BK7 aged..the limits were lifted and and was able to get credit line increase's on the credit cards...I rather have an AMEX than a Visa or Mastercard from the big three anyday(BOA.CITI,CHASE)....those I got thur my credit union