Amex Zync secured card offer

[Wolf3]

Sounds like a reasonable way to build up credit history with AMEX only.    I assume nothing will be reported to CB so it is useless for building credit history in general. 

[Revelate]

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@Wolf3 wrote:

Sounds like a reasonable way to build up credit history with AMEX only.    I assume nothing will be reported to CB so it is useless for building credit history in general. 

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Pretty much: since this is an archaic thread (over 2 years old since any significant activity), search for Make Your Move and/or Amex Prepaid on the forums for a full discussion of various opinions and ideas regarding the card.

[hvacrsteve]

RUN!  RUN!  RUN as fast as you can from anything to do with American Express!

I have had them for years and all of a sudden, a check doesn't make it in time and they suspend all of them!

I spend 50K a month on these cards and have never ever been late, not once in 30 years!

They freaking cutoff all my cards, cost me a small fortune!

Didn't even call me!

So much for any kind of relationship!

This edited  compnay is a joke!

[RyVision]

The original posts of this thread sound like it was when AMEX was working on the hard limit options for the ZYNC to allow people just on the edge of  approval to get an AMEX product, part of their plan; and if anyone notices, there were no further details, posts or reviews for a collateral backed ZYNC.  The OP makes a bit of sense considering the time period (2010) and what ZYNC's purpose was originally (to replace\add to customer base).

[LS2982]

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@hvacrsteve wrote:

RUN!  RUN!  RUN as fast as you can from anything to do with American Express!

I have had them for years and all of a sudden, a check doesn't make it in time and they suspend all of them!

I spend 50K a month on these cards and have never ever been late, not once in 30 years!

They freaking cutoff all my cards, cost me a small fortune!

Didn't even call me!

So much for any kind of relationship!

This edited  compnay is a joke!

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Wow.....have you called the executive offices about this?

[RyVision]

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@LS2982 wrote:

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@hvacrsteve wrote:

RUN!  RUN!  RUN as fast as you can from anything to do with American Express!

I have had them for years and all of a sudden, a check doesn't make it in time and they suspend all of them!

I spend 50K a month on these cards and have never ever been late, not once in 30 years!

They freaking cutoff all my cards, cost me a small fortune!

Didn't even call me!

So much for any kind of relationship!

This edited  compnay is a joke!

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Wow.....have you called the executive offices about this?

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That's a very good question LS!   If not I hope hvacrsteve does so, could possibly be a mistake and fixable.

Is this the correct number? Or does anyone know a better one?  AmEx Executive Services: 800-297-6197

[Anonymous]

hi, sorry but why do you have so many opened accounts especially secured accounts if they show as secured with other companies thats for sure they won't want to deal with another person trying to use their BARELY there credit to take out more money. The accounts you do have opened at the time you apply for whichever credit card your using have to be less than half of the amount they are secured for and cannot have too many revolving accounts opened.

You cannot apply to a MAJOR credit card company like AMERICAN EXPRESS with these type of things showing on your SECURED CREDIT. SECURED CREDIT is mostly to demonstrate to the major companies your ability to be responsible with the money you had to invest before they take a chance on you and let you barrow any money. Yes it can take upto 3 yrs. to get credit depending on the records you keep with them and as little as a year so i have read as the shortest time limit 12-13 months.

You can't even recieve a notice to apply to American Express without being invited by them depending on how they choose the people they try to suggest opening an account with them, and you have a choice of applying for various different types of American Express accounts to recieve a card but the easiest to apply and get is this one you applied for. The %  of interest will be rediculously high and they wont be lenient on the amounts you pay or how to even by into the coompanies secured accounts in the first place.

A lot of them require you to already have an established bank account through their same companies that have buisness set up through each bank branch and usually have to have you show a certain amount already invested in a seperate savings account to even be able to submit your app. for the secured credit card to be accepted and the minimal amount of time at the same employer has to show you have been working for at least 5-6 months with a certain amount of income already set up at that time you started or opened the account with them. If you have any opened unpaid and any accounts pending that will definately be a reason to not give you credit or not allow you to invest with them.

You are looked at as a person who is high risk and highly unlikely to pay back funds barrowed. The secured credit cards cant be all opened with those amounts owed if they are above 500$ that doesnt look good at all either and is best that you don't wait 3yrs. its best to do with what you can now and keep looking for more options as you do that im sure there will be more offers from other companies that will help with your needs. If you wait and notice American Express never offered secured credit cards because they don't have to. They are very picky because they are one of few companies that are accepted world wide and is not trouble to use them when you do go overseas.

They are not trying to give just anyone credit, they are trying to make it so rediculously difficult to get their card because they want to see how much of the person you are trying to demonstrate you are to be able to do what is required of you or anyone to be able to recieve credit from them with this secured offers they now have. Its how i know everything ever in my life to be-- easy is always ending up to be way too much trouble in the end and never worth skipping or taking that route when in the long run if you wait and see how things work and shift your attention towards those key points to achieve your goal there is no reason why you shouldnt ever not get what you want in time.

Then once established its truly way worth all the time effort and trouble because who can really do what they want now a days???you need lots of cash but i see now that cash cannot buy into everything and get you everything right away the different levels of life require you to show records always of your ability to be responsible and to be always dependable in certain aspects to be able to have any way with anything big. Mostly to prove you can maintain and keep yourself at a descent level never too much and never showing big drops or stops holes are bad in credit good luck ...