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Established Contributor
aftermath
Posts: 519
Registered: ‎05-09-2008

Amex Zync approval possibility with high utilization?

[ Edited ]

Hello all,

 

I have an Amex Blue Cash in good standing and a couple of other non prime cards.  My scores are around 660 across the board.  My concern is that I have high utilization, around 80%.  I want to apply for a Zync.  I checked on the website and it shows that I'm pre-approved for Platinum, Green and Zync.  What are my approval chances?

 

Thanks in advance.

American Express Blue Cash Everyday $6600
Barclays US Airways Premier World Mastercard $14500
Chase Sapphire Preferred $5000
Chase Freedom Visa $1000
Chase United Explorer $8500
Citi AAdvantage Platinum Select Visa Signature $7500
Citi ThankYou Premier World Mastercard $7500
Mega Contributor
Creditaddict
Posts: 18,977
Registered: ‎10-23-2007

Re: Amex Zync approval possibility with high utilization?

 


aftermath wrote:

Hello all,

 

I have an Amex Blue Cash in good standing and a couple of other non prime cards.  My scores are around 660 across the board.  My concern is that I have high utilization, around 80%.  I want to apply for a Zync.  I checked on the website and it shows that I'm pre-approved for Platinum, Green and Zync.  What are my approval chances?

 

Thanks in advance.


As long as that 80% isn't on your blue card, I would think you would have a very good chance... The blue is much harder to get than the Zync.

 

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Established Contributor
aftermath
Posts: 519
Registered: ‎05-09-2008

Re: Amex Zync approval possibility with high utilization?

[ Edited ]

Thanks for the quick response Creditaddict!

 

The 80% utilization is spread across 3 cards, majority of it being on Amex.

 

If I apply and get denied, is there a cooldown period that Amex requires to apply again?

 

Also, if I receive a very low soft limit, is there anyway to raise it in the future?

American Express Blue Cash Everyday $6600
Barclays US Airways Premier World Mastercard $14500
Chase Sapphire Preferred $5000
Chase Freedom Visa $1000
Chase United Explorer $8500
Citi AAdvantage Platinum Select Visa Signature $7500
Citi ThankYou Premier World Mastercard $7500
Mega Contributor
Creditaddict
Posts: 18,977
Registered: ‎10-23-2007

Re: Amex Zync approval possibility with high utilization?

If you are over 50% util on Amex and have been for several months I would not apply until you get that down... They really dislike revolving balances over 3 month-ish mark.

but at the same time they are loving giving out these charge cards right now!

How long have you had blue, if over a year and this is first time you are highly util, you still might have a high enough internal risk score with them to get charge... if you apply and declined I would say you could re-apply ones your blue is down below 20% util. I don't think they have any waiting time, because people have applied for a credit card product and get declined and then instantly apply for a charge card product and get it.

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Established Contributor
aftermath
Posts: 519
Registered: ‎05-09-2008

Re: Amex Zync approval possibility with high utilization?

[ Edited ]

I've had my Blue since 2008.  It started off with a nice limit of $7500.  As soon as I made my first purchase, they did a Financial Review on me and I complied.  Ever since then they started playing the chasing the balance game.  I now sit at $2078/2200.

American Express Blue Cash Everyday $6600
Barclays US Airways Premier World Mastercard $14500
Chase Sapphire Preferred $5000
Chase Freedom Visa $1000
Chase United Explorer $8500
Citi AAdvantage Platinum Select Visa Signature $7500
Citi ThankYou Premier World Mastercard $7500
Mega Contributor
Creditaddict
Posts: 18,977
Registered: ‎10-23-2007

Re: Amex Zync approval possibility with high utilization?

 


aftermath wrote:

I've had my Blue since 2008.  It started off with a nice limit of $7500.  As soon as I made my first purchase, they did a Financial Review on me and I complied.  Ever since then they started playing the chasing the balance game.  Ever since then, I refused to pay more than $100 a month.  Everytime I get to an available credit of $500, they balance chase me again, then it's back to $100 at a time until $500 of credit is available, wash rinse repeat wash rine repeat. :smileymad:


oh if they are currently CLD, you will not get approved for another card I would say in my opinion... Many of us got CLD back in 2007-2009 range can't remember when they were at their worst... but then starting last year people had just kept there accounts paid in full each month and continued to use them and were able to start getting CLI back towards what they had before, but if in 2011 you are still in Amex' target line for less credit available to you, not going to happen and although I once felt the way you do to pay just $100 because you were mad, you would be far better off throwing everything you can at them or if possible pay in 1 payment... you might get another CLD but doesn't mean they will take you all the way to $500 or close the account... and then you would be on your way to getting back in on Amex' good side.

 

Fico Scores: EQ 657 Cabelas, TU 653 Barclay, EX 699 Wells (07-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Express $300
Over 30 Cards in between :smileytongue:
Valued Contributor
vish1
Posts: 1,129
Registered: ‎01-20-2011

Re: Amex Zync approval possibility with high utilization?

 


aftermath wrote:

I've had my Blue since 2008.  It started off with a nice limit of $7500.  As soon as I made my first purchase, they did a Financial Review on me and I complied.  Ever since then they started playing the chasing the balance game.  I now sit at $2078/2200.


2078/2200 is close to 90% util on their card. If you were to get approved, that would be the surprise of a lifetime for me.

 

Amex PRG | BoA Cash rewards 35K | BoA Cash rewards 7K | Citi AAdvantage 15 K | Chase Sapphire Preferred 11 K | Chase Freedom 10k | Chase United 5 K | Chase Southwest 5K | Chase Airtran 6.4K | Discover IT 8K | Barclays US Airways 7.8 K | DCU 3 K | US Bank Flex Perks 8K | Toys r US 6 K | JC Penney 4.6 K | Macy's 1200 | Kohl's 600
Ex Fico: 762 (PSECU)
EQ Fico: 764 (DCU)
TX Fico: 773 (Discover)

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