Credit Cards

[WarJar101]

Guys Im curious the 500 autopay card is factored into your total credit utilization or no?

[OptimasPrime]

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collinsridge wrote:

Just curious does this happen to everyone? If they aren't approved for the Original ZYNC, do they get this second option? Or is there a Straight Disapproval?

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Not everyone gets the 500/200 offer, some are denied outright. It seems like borderline approvals/thin files get the autopay offer more often then others but ymmv as no one knows exactly what triggers the second offer.

Even some amex csrs don't seem to be aware of the 500 autopay zync option - according to posters from past threads at least

[Revelate]

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WarJar101 wrote:
Guys Im curious the 500 autopay card is factored into your total credit utilization or no?

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Not under the '04 or '08 versions of the FICO model.  Because of the term length of one month, they're unilaterally ignored from the revolving utilization calculation same as any other charge card product from Amex.

FICO '98 (vis a vis the TU score here for example) does include it, and as such will compare your high balance vs. your current balance to determine utilization rates.  I honestly don't concern myself with this as most lenders have moved on from the '98 version: mortgage is '04, and we suspect more and more lenders are now using '08 versions for credit card approvals.

[WarJar101]

I'll just wait my 6 months then, I'd prefer the NPSL just because...lol. Thanks for the info.

[Revelate]

Backdate of 2012 > one of 2013 warjar.

The autopay limit is trivial and nobody other than on this forum is going to know let alone care, and there's no stigma on this forum either as almost all of us found it after finding something ugly out about our credit. Take the counter offer if it gets you the earlier date... Unless you already have had a prior Amex it does make a non-trivial difference in the 2-4 year range.

This isassuming you want a Zync and likely some other Amex product in the future.

[WarJar101]

I see what you're saying Revelate. Do you think with my thin credit history (look at sig) that I could qualify for 500 autopay?

[dude11]

Have had the Zync with this $500 limit and auto pay for 19 months and still can't get the limit increased nor removed. Have applied for the Amex Green and Gold but no dice. The limit does not get reported to the credit bureaus either.Plan on not using the card for 6 months and see if Amex bites. Keep in mind YMMV.

[Revelate]

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WarJar101 wrote:

I see what you're saying Revelate. Do you think with my thin credit history (look at sig) that I could qualify for 500 autopay?

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Oh hrm, TBH I didn't even look at your sig when I posted my response, my apologies.  Do you have any other credit history besides those two tradelines?

I'd probably wait till mid-December in your case.  Now vs. December is the same for backdating anyway.

[creditnocash]

i believe they like 6 months of history before apping. 

which is why i had a thin file. 

i got approved with the 500 autopay. 

but im in with amex. 

no baddies on my report. 

when i apped score was around 710 across all three reports. (last time i checked through annual credit, all three reported same thing minus inquries) 

i got a letter from my bank saying my score for apping a odp was 726 on tu. the same day i apped zync. im sure they hit all three reports i know tu and eq not sure about ex though

my aaoa was only 7 months though (2 oldest accounts 2 years old)

but getting in amex now even with a 500 limit or 200 whatever. 

when you do app for another amex its always a soft pull on denial vs hard pull. 

plus the backdating. so im still glad i have a zync now vs in december 

just my 2cents.

[WarJar101]

Guess I should at least apply later in the year then, because I just got my first credit line last month. Unless there's a chance of approval now. Even for the limited card