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Established Contributor
AndyK
Posts: 913
Registered: ‎06-09-2011

Re: Amex Zync...Should I Apply?


FloridaState12 wrote:
I honestly don't think ONE more inquiry would hurt you that bad, but don't let me convince you...I'm a bad influence. I say app away! :smileytongue:

 


Obviously YMMV, but with as many inqs as I have on my reports, all the credit score calculators I've tried have said one more inquiry won't do anything.

I remember reading somewhere that after something like 4 or 6 inquiries, it caps out on the negative (as far as your credit score goes anyway). But obviously if they review your application, 20 inquiries is going to look a lot worse than 5.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
New Contributor
mstew
Posts: 160
Registered: ‎08-10-2011

Re: Amex Zync...Should I Apply?

Well i pulled the trigger, and I did get an approval. I got stuck with the $500 SL and autopayment, but I'm A OK with this option. As long as I can start to build a relationship with AMEX, I'm a happy camper

Wallet: American Express ZYNC, Barclaycard Financing Visa, Capital One No Hassle Cash MC

Sock Drawer: Capital One Platinum, Best Buy Reward Zone MC, GEMB Wal-Mart (Store only), WFN JCrew (Store), First Premier (Only until June when the AF hits again)
Established Contributor
AndyK
Posts: 913
Registered: ‎06-09-2011

Re: Amex Zync...Should I Apply?


mstew wrote:

Well i pulled the trigger, and I did get an approval. I got stuck with the $500 SL and autopayment, but I'm A OK with this option. As long as I can start to build a relationship with AMEX, I'm a happy camper



Until they decide they want to put you through a financial review :smileytongue: Hopefully that doesn't happen. But you're right, that's definitely a foot in the door with them! I've been trying to decide if I want to app for another one of their cards in December once some of the old inquiries drop off my EX report, but between strict requirements, annual fees, and the FR horror stories, I'm not sure how I feel about Amex right now.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
New Contributor
mstew
Posts: 160
Registered: ‎08-10-2011

Re: Amex Zync...Should I Apply?

Well I need to diversify my credit profile with more prime lenders so that I can begin to distance myself away from the more predatory ones, cough cough, first premier, so this is a great first step.

 

I'm probably only going to use this card for gas or eating out, so I probably won't charge up much more than $100-$200 a month, but i will be sure to at least use it...

Wallet: American Express ZYNC, Barclaycard Financing Visa, Capital One No Hassle Cash MC

Sock Drawer: Capital One Platinum, Best Buy Reward Zone MC, GEMB Wal-Mart (Store only), WFN JCrew (Store), First Premier (Only until June when the AF hits again)
Established Contributor
FloridaState12
Posts: 614
Registered: ‎08-24-2011

Re: Amex Zync...Should I Apply?


mstew wrote:

FloridaState12 wrote:

mstew wrote:

I'm dying to do it lol. I have the app page filled out. I probably would have already pulled the trigger from obsessing on it but I multitask. In between ficoforums, i buy music on itunes, check my credit report, dream about apping for amex, and do a take home test.


I fill out apps all the time....then I decide whether or not it's worth pulling the trigger. Usually I just say "screw it" and close my eyes and click the button. I always have that "what if" mentality. What if I apply and get approved with an awesome CL? I won't know until I apply! 

 

I honestly don't think ONE more inquiry would hurt you that bad, but don't let me convince you...I'm a bad influence. I say app away! :smileytongue:

 


Pulled trigger...

 

 

Ready?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

APPROVED!!!!!!!!!!!

--Granted, I got the $500 Autopay, but it's a start!!!!!

 

 

SO EXCITED! AMEX!


AHH!! Congrats!!! 

 

Any way you can get in with AMEX is fine by me! That is great news. 

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New Contributor
mstew
Posts: 160
Registered: ‎08-10-2011

Re: Amex Zync...Should I Apply?


FloridaState12 wrote:

mstew wrote:

FloridaState12 wrote:

mstew wrote:

I'm dying to do it lol. I have the app page filled out. I probably would have already pulled the trigger from obsessing on it but I multitask. In between ficoforums, i buy music on itunes, check my credit report, dream about apping for amex, and do a take home test.


I fill out apps all the time....then I decide whether or not it's worth pulling the trigger. Usually I just say "screw it" and close my eyes and click the button. I always have that "what if" mentality. What if I apply and get approved with an awesome CL? I won't know until I apply! 

 

I honestly don't think ONE more inquiry would hurt you that bad, but don't let me convince you...I'm a bad influence. I say app away! :smileytongue:

 


Pulled trigger...

 

 

Ready?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

APPROVED!!!!!!!!!!!

--Granted, I got the $500 Autopay, but it's a start!!!!!

 

 

SO EXCITED! AMEX!


AHH!! Congrats!!! 

 

Any way you can get in with AMEX is fine by me! That is great news. 


Thanks!! I'm so excited! 6 months ago my credit profile was super slim...1 Cap1 $300 Limit card...now, I have AMEX and Barclays! Such a good feeling to get an approval. Its euphoric

Wallet: American Express ZYNC, Barclaycard Financing Visa, Capital One No Hassle Cash MC

Sock Drawer: Capital One Platinum, Best Buy Reward Zone MC, GEMB Wal-Mart (Store only), WFN JCrew (Store), First Premier (Only until June when the AF hits again)
Established Contributor
AndyK
Posts: 913
Registered: ‎06-09-2011

Re: Amex Zync...Should I Apply?

I can agree with that, I'd like to get an Amex card .. well, just to have one, basically. I figure sooner or later, I plan to get something like the BCP since the rewards are great. 6% reward at grocery stores means that's what I'd do all my grocery shopping on. Right now I only get 1% cash back on my card, so that would be a huge jump. I've thought about trying to get the Zync, but I think I'll just have to be patient and wait until my scores look good enough to get a different card from them.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Established Contributor
AndyK
Posts: 913
Registered: ‎06-09-2011

Re: Amex Zync...Should I Apply?


mstew wrote:
Thanks!! I'm so excited! 6 months ago my credit profile was super slim...1 Cap1 $300 Limit card...now, I have AMEX and Barclays! Such a good feeling to get an approval. Its euphoric

Was the Cap One the only one you had in your history? I thought Amex liked seeing at least 12 months of history before they even considered you for approval - I know they originally denied me for lack of credit history.

EQ 679 FICO (02/24/2012)
TU 721 FICO (03/10/2012)
EX 703 FICO (05/05/2012)

Cards: NFCU cashRewards $14k, NFCU Platinum $14k, USAA Amex $7k, Amazon Visa $3k, Chase Freedom $2.5k, Amex Zync NPSL, Discover More $1k, Amazon Store $1.3k, Walmart Store $700
Established Contributor
FloridaState12
Posts: 614
Registered: ‎08-24-2011

Re: Amex Zync...Should I Apply?


mstew wrote:

FloridaState12 wrote:

mstew wrote:

FloridaState12 wrote:

mstew wrote:

I'm dying to do it lol. I have the app page filled out. I probably would have already pulled the trigger from obsessing on it but I multitask. In between ficoforums, i buy music on itunes, check my credit report, dream about apping for amex, and do a take home test.


I fill out apps all the time....then I decide whether or not it's worth pulling the trigger. Usually I just say "screw it" and close my eyes and click the button. I always have that "what if" mentality. What if I apply and get approved with an awesome CL? I won't know until I apply! 

 

I honestly don't think ONE more inquiry would hurt you that bad, but don't let me convince you...I'm a bad influence. I say app away! :smileytongue:

 


Pulled trigger...

 

 

Ready?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

APPROVED!!!!!!!!!!!

--Granted, I got the $500 Autopay, but it's a start!!!!!

 

 

SO EXCITED! AMEX!


AHH!! Congrats!!! 

 

Any way you can get in with AMEX is fine by me! That is great news. 


Thanks!! I'm so excited! 6 months ago my credit profile was super slim...1 Cap1 $300 Limit card...now, I have AMEX and Barclays! Such a good feeling to get an approval. Its euphoric


I know what you mean! Back in May I got my first Cap1 card with $300 limit and a collections on my report...then I got a card from my credit union a month later ($500 --probably going to ask for a CLI soon), then another Cap1 right after that ($300). Then the other week, sans collections, I got Citi Dividend for Students ($4,000), the Zync (NPSL), Walmart card ($400), Bank of America Student Platinum ($800), and just today Barclay's NFL ($500). 

 

It's amazing how fast your whole credit file can change. I can't wait for that $4,000 CL to report...that is HUGE for me!

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New Contributor
mstew
Posts: 160
Registered: ‎08-10-2011

Re: Amex Zync...Should I Apply?

My cap1 was up until june my only revolving line of credit. That account was reporting for about 3.5 years. The rest are all new lines of credit. Its absolutely amazing how quickly my credit profile has grown. It really is time to put on the gardening gloves and keep them there for a good year or longer now. I need to let everything age and start weeding out some of the less favorables. I guess I'm going to be stalking the mail man for another couple of weeks now...

Wallet: American Express ZYNC, Barclaycard Financing Visa, Capital One No Hassle Cash MC

Sock Drawer: Capital One Platinum, Best Buy Reward Zone MC, GEMB Wal-Mart (Store only), WFN JCrew (Store), First Premier (Only until June when the AF hits again)

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