Advice on which Amex to go for

squirrely2005 · ‎03-13-2012

So I really want one. Really don't know why but I do. I guess it's a status thing or something.

It'd also really help. I want a charge card and primarily use that and since I know I have to pay in full I won't spend like crazy like I do with my debit card.

Anyway I'd like the Green card but Zync also seems cool. I'm going to apply for one probably in June. I'm all for the Green but I've heard of people being offered a spending limit on Zync. Is that something that would happen with Green as well? And even if I'm not offered that and just flat out declined can I ask for a spending limit on Green? Or even the Zync for that matter.

logan_720 · ‎03-13-2012

The Zync is apparently, from what I have read, the easiest Amex charge card to get. I got it for the same reson you want a charge card. I didn't even consider apping for the Green card, because the Zync looks a lot cooler plus the sign up bonus of 10,000 MR points. I also had double digit inquiries in my report at the time of approval, which was isntant. They didn't give me a spending limit or anything. Good luck

CreditScholar · ‎03-13-2012

Two questions:

1. What's your credit profile like?

2. What's your annual spend roughly?

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL

squirrely2005 · ‎03-13-2012

Cool. That's good to know. I'll have 10 inquires after next Tuesday and one will be at a year mark in June and I think about 5 are from looking for a car loan. So I'm hoping after I pay down all my cards I'll be able to be approved for one. I had my eyes on the zync but have been looking more towards the green. I have time to think about it anyway.

JustMe77 · ‎03-13-2012

I just don't get the appeal of the green card. I'm happy with my Zync. The Zync is a really cool looking card, imo.

That being said, the Zync rewards structure kind of sucks (1% back with an AF, and it's really only 1% if you redeem for one of their limited selection of gift cards). I got a $100 sign-up bonus with the Zync, so that evened out the $25 AF for me. I also shop at Whole Foods a lot so I like getting 2% back at WF (and Chipotle) through the free Eco Pack. If you shop at Lowe's a lot, the Zync home pack is a good one too.

I signed up for the Zync for backdating purposes only, and am hoping it helps me one day get a BCP.

Current Cards: Banana Republic Visa ($5,300), Chase Freedom ($2,000), Discover It ($11,500), Amex Costco True Earnings ($5,000), Chase Slate ($2,500)

squirrely2005 · ‎03-13-2012

@CreditScholar wrote:
Two questions:

1. What's your credit profile like?

2. What's your annual spend roughly?

Right now it's low. I have some late payments about a year and a half old. But real late. A 60 day late and a 90. I want to say that on the 90 i made the payment but I think I made less than the minimum payment. Which I know is hurting a lot Other than that the only thing holding me back is my util. When it was decent(not really but around 40%) my score was around 660. It dropped like 50 points now that its gone up to about 70. I'm hoping over the next few months I can get it all paid down and it'll just back to somewhere around 700.

Annual spending? I really don't know. Including Cable/Internet, Utilities, phone, and everything else like gas and food is about 14K/yr

LS2982 · ‎03-13-2012

@squirrely2005 wrote:
So I really want one. Really don't know why but I do. I guess it's a status thing or something.
It'd also really help. I want a charge card and primarily use that and since I know I have to pay in full I won't spend like crazy like I do with my debit card.

Anyway I'd like the Green card but Zync also seems cool. I'm going to apply for one probably in June. I'm all for the Green but I've heard of people being offered a spending limit on Zync. Is that something that would happen with Green as well? And even if I'm not offered that and just flat out declined can I ask for a spending limit on Green? Or even the Zync for that matter.

You cant ask for a limit, they either offer it to you or they don't. But from what I've heard it's only the Zync getting thos offers.

IMO, If your score is iffy for AMEX I would try the Zync.

EQ FICO 548 3/3/16

LS2982 · ‎03-13-2012

@squirrely2005 wrote:
@CreditScholar wrote:
Two questions:

1. What's your credit profile like?

2. What's your annual spend roughly?
Right now it's low. I have some late payments about a year and a half old. But real late. A 60 day late and a 90. I want to say that on the 90 i made the payment but I think I made less than the minimum payment. Which I know is hurting a lot Other than that the only thing holding me back is my util. When it was decent(not really but around 40%) my score was around 660. It dropped like 50 points now that its gone up to about 70. I'm hoping over the next few months I can get it all paid down and it'll just back to somewhere around 700.

Annual spending? I really don't know. Including Cable/Internet, Utilities, phone, and everything else like gas and food is about 14K/yr

I would think about gardening my accounts for 1 year and getting the overall util. down to about 5% before applying for AMEX.

EQ FICO 548 3/3/16

bichonmom · ‎03-13-2012

The charges are easier to qualify for than the revolvers, and the Zync is supposedly the easiest to qualify for. Usually it's NPSL - no pre-set spending limit. If your credit is questionable, they may counter with a pre-set spending limit and auto-pay.

Amex is very inq sensitive. I wouldn't have any inq for at least 6 mos before apping with them. They usually pull EX, but have on occasion pulled more than one CR.

You should also get your util down to <9% on only ONE CC, with the rest reporting a zero balance for the highest FICO and best chance of being approved with them.

Some people have said that the Green is as easy to get as the Zync, but it's hard to say for sure. I'd recommend apping for the card you want. There are some major diff between Green and Zync. The Green has a higher AF, but the rewards are better for traveling. In general, if you travel, you're better off with the Green. If you don't travel, then the Zync is just as good.

Also, if you app for an Amex and are denied, you can't app for another Amex for 30 days.

EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

FrugalRican · ‎03-13-2012

@squirrely2005 wrote:
I'll have 10 inquires after next Tuesday and one will be at a year mark in June

I know 5 of those are from car INQ's, which will round up to 1, leaving you at 5 and then 1 rolls off, leaving you at 4.

But I've heard AMEX can get testy about multiple INQ's in the last 6 months. When will those others roll off?

Follow my financial journey: http://www.frugalrican.com

EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

AMEX BCE (0/10K) --- BOA 1-2-3 (0/15.9K) --- Discover More (0/6K) --- Chase Freedom Visa (0/1.4K) -- Hyatt Visa Sign. (0/5.8K) -- Barclay's NFL Card (0/7.5K) -- Chase Sapphire Preferred (0/5K)