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I had Zync for 6 months. Spend about 1k /month. Apped for Blue Cash and got approved with 2k CL.
680EQ and 710 TR last checked in april
@Devastator wrote:
2. A guess is that it builds credibility with AMEX. The way I'm starting to see the Zync, is that it's a subprime card for Amex (I say it's subprime as i haven't seen or heard anyone getting rejected and they're accepting low 600s apparently), kind of a proving ground, if you can handle it for 6 months, then you can upgrade.
No Amex issued by Centurion Bank is ever subprime.
@Anonymous wrote:
@Devastator wrote:
2. A guess is that it builds credibility with AMEX. The way I'm starting to see the Zync, is that it's a subprime card for Amex (I say it's subprime as i haven't seen or heard anyone getting rejected and they're accepting low 600s apparently), kind of a proving ground, if you can handle it for 6 months, then you can upgrade.
No Amex issued by Centurion Bank is ever subprime.
But apparently they're not rejecting anyone, and they're taking low600s!
(though is it low-600s because of young/short history or is it low-600s because of BAD credit? I guess both 600s are not the same).
Not that I'm complaining, I'm around 665 area (give or take 10) and I got approved for two other primes at about the same time. For sure I'm grateful they're giving me a chance, I've worked hard to improve my credit and I hope I'm worthy to get a Clear in a few months. Anyone have a Clear?
Rather than "sub-prime", I might label it an introductory card. It makes sense for them: their risk is minimized by having it be a charge card rather than a revolver, and being able to tailor rewards makes new customers, excuse me, "members", happy and gets them familiar with the rewards system. I'm sure that they have a room full of computers analyzing Zync user behavior, making notes and seeing which usage patterns will wind up predicting future strong AmEx customers. Sort of a laboratory card, if you will.
There's actually no literal definition of sub-prime card. "Sub-prime" is just a term that gets thrown around a lot. We used to have raging debates here on the boards about who and what was sub-prime, and I think the consensus wound up being that sub-prime referred more to banks than individual cards, describing crappy customer service, miniscule credit limits, inexplicable CLD's, grudging CLI's, and so forth. During the worst of the economic melt-down, I think the only cards that weren't being termed sub-prime were something like Navy and USAA, and even they had angry cardholders.
So why can't we pay off one credit card with another?
Because lenders want to see you pay off your debts, not shuffle them around in an elaborate shell game.
The exception: they're often happy to let you BT from another card, because they will make money from the deal via the BT fee and any interest. But that's bringing in money that's due a different bank.
If you owe them on Card A, they don't want you to owe them on Card B instead. They just want their money.
I am still waiting on the card to arrive in the mail. Can't wait to start using it and building a good strong relationship with AMEX. Im just a little bummed that Discover denied me, I want to do a recon to see if I can get it approved even for a minimal limit like $300 or so, just to let them see im not going to go belly up. LOL. Anyone know a good way to do the recon? Phone numbers, mail or what?
Loving the card so far. Put about $300 on it over the weekend and should put on another $500 before my 1st statement cuts.
I'm also hoping to establish a good relationship with them and eventually apply for a Blue cash.
Everyone who has done this, is 6 months the usually turnaround time to apply for a blue assuming you establish a good spending/paying habit?