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Contributor
Posts: 109
Registered: ‎09-26-2012
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Amex Zync and beyond

So from what I have been reading...

 

It is definitely concluded that the AMEX Zync card would be the best option to get my foot in the door with AMEX. Especially w/ a current FICO score in the mid - upper 600s.

 

Now my question is about life AFTER OWNING ZYNC:

1) How long do I have to wait and what should I do before applying for another Amex (BCP or TE-Costco)?

2) Since AMEX does not HP when I apply for a NEW card (unless approved) --Do they still review my NEW app using the FICO score they received when I first applied for the Zync?

For Instance -- If I currently have a 700 Score when I do apply for a Amex BCP, will they still only use the 650 Score from the previous Zync application ?

 

Im sorry if this sounds a bit confusing but I have seem to hit a dead end. Any input would be greatly appreciated. Thanks.

Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
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Re: Amex Zync and beyond


agforfree5 wrote:

So from what I have been reading...

 

It is definitely concluded that the AMEX Zync card would be the best option to get my foot in the door with AMEX. Especially w/ a current FICO score in the mid - upper 600s.

 

Now my question is about life AFTER OWNING ZYNC:

1) How long do I have to wait and what should I do before applying for another Amex (BCP or TE-Costco)?

2) Since AMEX does not HP when I apply for a NEW card (unless approved) --Do they still review my NEW app using the FICO score they received when I first applied for the Zync?

For Instance -- If I currently have a 700 Score when I do apply for a Amex BCP, will they still only use the 650 Score from the previous Zync application ?

 

Im sorry if this sounds a bit confusing but I have seem to hit a dead end. Any input would be greatly appreciated. Thanks.


I had my Zync for just under two years before going 'beyond'. They will approve/deny based on their internal score since you are already a customer hence the no-HP denials. If approved, they will pull a new report and use that FICO score and report as well as their internal data for determining APR and CL's.

If you have a 700 score, theoretically you could be approved for a BCP which would be an approval based on their internal data from your Zync usage.

Do you actually have a Zync yet, or is this all theoretical?

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Contributor
Posts: 109
Registered: ‎09-26-2012
0

Re: Amex Zync and beyond


jd5189 wrote:

agforfree5 wrote:

So from what I have been reading...

 

It is definitely concluded that the AMEX Zync card would be the best option to get my foot in the door with AMEX. Especially w/ a current FICO score in the mid - upper 600s.

 

Now my question is about life AFTER OWNING ZYNC:

1) How long do I have to wait and what should I do before applying for another Amex (BCP or TE-Costco)?

2) Since AMEX does not HP when I apply for a NEW card (unless approved) --Do they still review my NEW app using the FICO score they received when I first applied for the Zync?

For Instance -- If I currently have a 700 Score when I do apply for a Amex BCP, will they still only use the 650 Score from the previous Zync application ?

 

Im sorry if this sounds a bit confusing but I have seem to hit a dead end. Any input would be greatly appreciated. Thanks.


I had my Zync for just under two years before going 'beyond'. They will approve/deny based on their internal score since you are already a customer hence the no-HP denials. If approved, they will pull a new report and use that FICO score and report as well as their internal data for determining APR and CL's.

If you have a 700 score, theoretically you could be approved for a BCP which would be an approval based on their internal data from your Zync usage.

Do you actually have a Zync yet, or is this all theoretical?


No I am not in the 700s, that is what I am trying to get at prior to applying for an Amex revolver. My score is currently in the mid 600s and I thinking about applying for the Zync soon to get my foot in w/ Amex.

 

So I guess my question now is --- How long of an "internal score relationship" would I need to hold with the Zync, prior to applying for an Amex revolver? ps - I don't have the patience to wait just under two years like you did JD5 :smileyembarrassed:, which is why I am hoping it is not that long.

 

Thanks.

Contributor
Posts: 109
Registered: ‎09-26-2012
0

Re: Amex Zync and beyond

I know there are a lot of Zync threads out here.. but anyone loll ??

Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
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Re: Amex Zync and beyond

If it were me, I would apply and use the Zync for at least 6 months. Give it some time to build that relationship because once you do, and do it correctly, they will be your best friend!

 

I understand the "want" factor. But build with them first and the will grow with you.

 

JMO - for what little it is worth!  :smileyhappy:

Ray

** Every Card has a Job, and Every Card does its Job **

Contributor
Posts: 109
Registered: ‎09-26-2012
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Re: Amex Zync and beyond


RockinRay wrote:

If it were me, I would apply and use the Zync for at least 6 months. Give it some time to build that relationship because once you do, and do it correctly, they will be your best friend!

 

I understand the "want" factor. But build with them first and the will grow with you.

 

JMO - for what little it is worth!  :smileyhappy:


Ok thanks for the adivce, will do!! I was basically just confused about some 90 Day rule - that you cant apply for another Amex until the 91st day or something. But looks like that was just some incorrect info.

Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
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Re: Amex Zync and beyond

I waited that long because I was not in a rush. But, I would say a 6 month minimum of having the Zync. In reality, probably 1 year depending on income and how much you use that Zync.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Valued Contributor
Posts: 1,960
Registered: ‎08-13-2007
0

Re: Amex Zync and beyond


agforfree5 wrote:

RockinRay wrote:

If it were me, I would apply and use the Zync for at least 6 months. Give it some time to build that relationship because once you do, and do it correctly, they will be your best friend!

 

I understand the "want" factor. But build with them first and the will grow with you.

 

JMO - for what little it is worth!  :smileyhappy:


Ok thanks for the adivce, will do!! I was basically just confused about some 90 Day rule - that you cant apply for another Amex until the 91st day or something. But looks like that was just some incorrect info.


As I remember you do have to wait 90 days between apps with them. That is correct.

 

Still I would wait the 6 months, run a fair amount of charges through the card, and give them time to build a reasonable internal limit for you. Then, once you have established your "track record" do the app... In my mind, you will get a much better Cl since they will have some history on your spend / payment habits. If you apply on day 91, they may start you lower then they would at 6 months.

 

It is all about playing the game here and playing it correctly.

 

While I no longer have my Zync card, when I did, I would hit that button on the web protal to see how much I could spend on the card. Fist hit was $5000 - approved. My final hit was $25,000 and it was approved. Today, I have $30,000 in open credit with Amex over two cards...

 

Time will be your friend on this and again, I understand the want factor. But patience will always win out in the long run.

 

Ray

** Every Card has a Job, and Every Card does its Job **

Valued Contributor
Posts: 2,280
Registered: ‎07-23-2012
0

Re: Amex Zync and beyond

[ Edited ]

to get max backdating you would need to apply in jan. 

ill pull my reports in mid jan and see how i am. 

if im above 700 ill take the soft for either a costco amex or another reveolver. 

if i get it great if not cool just a soft. 

 

from what i here is if you have over 6 months history and 650-680 they will approve you for zync with a hard limit. ymmv though. 

i know i apped for it and got the hard limit with aaoa of 8 months reporting and 11% util. (other scores pulled from myfico that morning were 689 and 690)

they didn't send me a score or reasons since a zync is the best terms since its a charge card and there is no interest. 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

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Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
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Re: Amex Zync and beyond


agforfree5 wrote:

So from what I have been reading...

 

It is definitely concluded that the AMEX Zync card would be the best option to get my foot in the door with AMEX. Especially w/ a current FICO score in the mid - upper 600s.

 

Now my question is about life AFTER OWNING ZYNC:

1) How long do I have to wait and what should I do before applying for another Amex (BCP or TE-Costco)? I would wait at least a year.

 

2) Since AMEX does not HP when I apply for a NEW card (unless approved) --Do they still review my NEW app using the FICO score they received when I first applied for the Zync? No, they are going to pull a fresh report at the time you app.

For Instance -- If I currently have a 700 Score when I do apply for a Amex BCP, will they still only use the 650 Score from the previous Zync application ?

 

Im sorry if this sounds a bit confusing but I have seem to hit a dead end. Any input would be greatly appreciated. Thanks.


 

 




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