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@xlr8d wrote:
Not a waste of an inquiry if you got approved(which it sounds like you did). I believe with scores in your range, yes it would be a waste to apply for any other Amex products. You got your foot in the door with a great CC company, take care of it and make sure you don't charge more than you can afford!
I will be making sure I don't. The funny thing is I can afford to pay in full each month and do on the credit cards. This wasn't the case three years ago when I was starting my business and had no other income, and that was when my credit got really screwed up. The business has done well so things are different now.
Seems like I'm good to go:
Thank you for your recent application for ZYNC from American ExpressSM . We do value your desire to establish a relationship with us. We regret that we are unable to approve your request.
Reason(s) for Our Decision
Our scoring of your credit and other relevant information (See below)
We evaluated your application using a credit scoring system that considers various pieces of information, including your credit report. The following key factors contributed to our evaluation:
| Your FICO? score (See below) Account(s) not paid as agreed. (Experian) Our analysis of the credit risk associated with customers who have accounts with the creditor(s) indicated in your credit report. (Experian) Length of time accounts have been established (Experian) |
Information About Your FICO? Score
We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On November 02, 2011, your FICO score was 627. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:
| Serious delinquency, and public record or collection filed. No recent revolving balances. Length of time accounts have been established. Number of accounts with delinquency. |
FICO is a registered trademark of Fair Isaac Corporation in the United States and in other countries.
However, during the online application process you elected to accept our offer of another ZYNC SMCard product. The ZYNC Card that you selected has the following features:
| ? | Requires Payment through AutoPay, which authorizes American Express to withdraw your full monthly payment directly from your bank account. This automatic feature helps you avoid late or missed payments. You will receive a $10 credit on your first billing statement as an incentive for enrolling. |
| ? | A $500 spending limit on your ZYNC Card account that cannot be exceeded. |
The Account information and Pack choices we have from your original application will carry over. Instant account and pay over time features will not be available for this Card. Also, account acquisition incentives such as bonus point offers do not apply.
To complete your application, please provide all of the information requested on the enclosed form, which includes enrollment in AutoPay, and return it to us within 30 days of the date on this letter. Fax this form directly to us at 801-945-2884, or mail to the address below and keep a copy for your records :
American Express |
PO Box 31525 |
Salt Lake City, UT 84131 |
If you have already provided this information online, you are receiving this letter because we could not validate your bank information. Please complete the enclosed form and follow the instructions above.
@Anonymous wrote:
This is very encouraging. Mine still shows "in progress" hopefully I will be getting the same correspondence soon. I really want to establish myself with Amex so a $500 PSL is okay with me for starters.
Man, my EX score was 646 at the time of denial..and because of my BK (CS rep flat-out told me...my FICO was high enough, but BK is keeping me out), AMEX won't even give me the autopay option when I applied a while back. I didn't even BK them...I haven't ever had their card
Sorry to bump. I was recently denied for zync, and I asked multiple reps about an alternate zync with a 500 limit w/ autopay and none of them knew what the heck I was talking about
-----> I asked multiple reps about an alternate zync with a 500 limit w/ autopay and none of them knew what the heck I was talking about
This counter~offer ( and the $200 hard limit no-autopay ) Zync seem to be available only when you apply online, I haven't heard of anyone getting this offer when applying over the phone.
Why don't you wait a year? All things considered, ask yourself this: will your life improve drastically with another credit card (the answer is no, you either have the money to pay for things or you don't).
Well this sucks. I still haven't received the card so I called them to check. The answer was that when I returned the bank details form I accidentally forgot to check the bank account type. They only give one shot and won't accept a resubmittal, so I have to wait 90 days and apply again. I could scream.
Mike