Amex Zync with hard limit

[Anonymous]

What is the minimum credit score for an American Express? 

EX: 640

EQ:  634

TU: 630

[Walt_K]

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@Anonymous wrote:

What is the minimum credit score for an American Express? 

EX: 640

EQ:  634

TU: 630

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If you run a search for Zync and score or Zync and approval or Zync and minimum, you'll probably find some insight.  Also, note that Amex pulls EX and they use their own internal assessment system.  That said, there's probably still some value in knowing what others' scores were that were approved.

[halos24]

Had to post. I completely agree with haulingthescoreup cherish this card or any Amex when you do get in the door.  I myself was approved for the Zync in December and recently in January for the Costco Card.  Although, they did backdate me to 2005 because I was an AU on my husbands cards back then trust me I am just happy to be back in.  My husband defaulted on both his Amex cards and I can tell you feels good to be back in.   

Now, regarding the hard limits I will tell you that your accounts are being watched the first 6 months!  My Zync card I have used heavily charging between 2-2500k a month!  With the first period from Dec-jan I would pay it as I went prior to the statement dropping.  Again, for this reason do not charge anything that you cannot pay off within the month! With this last month I was up to $1700 and I got a phone call after the statement dropped asking for payment or my cards would be shut off!  Not only the Zync but the Amex Costco as well.  Soo.... of course to make Amex and myself happy I paid it off.  

Amex explained that it does take 6 months to become familiar with you, at this point I think my hard limit is at about 1500.  My EX score was probably in the middle of my EQ and TU scores currently for those of you wondering.  Again, will say it again that Amex uses their own internal scoring and I believe they do take income into account.  

[Anonymous]

I searched for hard limit but could not find out what it meant. Can you explain please?

[Anonymous]

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@Anonymous wrote:

I searched for hard limit but could not find out what it meant. Can you explain please?

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Traditionally, American Express Charge Cards, IE Platinum, Gold, Green and Zync are "No Preset Spending Limit" Cards, meaning you can charge what you want as long as you pay it off at the end of the month. Recently AMEX has approved people for the Zync Card with a set spending limit of 250 or 500 dollars if they didn't qualify for the No Preset Limit Card. The other hard limit she is refering to is that, No Preset does not mean unlimited and based on your credit history and your relationship with AMEX, they may require payment when your balance gets to a certain point. With my Platinum I can spend up to 25k but above that will not be approved even tho, its NPSL. Its a case by case basis.

[Anonymous]

hmmmmmm I could get in trouble with no limit

[Creditaddict]

If your American Express Charge Cards have a hard limit you will see it on your statement and on your online profile right below balance.  If you do not see an actual limit your card is no pre-set spending limit and you will have an ever changing internal limit as you charge more and show history with amex.

[Clashmoore]

I applied to the Amex Zync and was approved. I am still within my first month (Feb. statement closes on 13th) and I do not have a limit.

My EQ is 602.

So far this month I have charged $1000 (with $550 paid down when I first hit it). When I called Customer Service to ask if I could pay before my first bill arrived because I was worried about the shadow limit, they attempted a $1500 purchase and it was approved. I just recently tested a $2500 to see and it was also approved also.

- Clash

[mrmagic9799]

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@Clashmoore wrote:

I applied to the Amex Zync and was approved. I am still within my first month (Feb. statement closes on 13th) and I do not have a limit.

My EQ is 602.

So far this month I have charged $1000 (with $550 paid down when I first hit it). When I called Customer Service to ask if I could pay before my first bill arrived because I was worried about the shadow limit, they attempted a $1500 purchase and it was approved. I just recently tested a $2500 to see and it was also approved also.

- Clash

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WOW!, really 602... How'd the rest of your profile look.? That gives me serious hope!!

[Clashmoore]

I applied before knowing my credit score. I applied middle of February 2011.

I have a post in the rebuilding your credit forum that details my report and circumstances after I received the card. Just before applying, but not yet reflected, I paid off my credit cards and decided I wanted a charge card so I would be forced to have some discipline.

My report on my March 9th EQ was 602.

That is with ~95% util on $5000 cl

60 day late on  student loan in June 2010

120 day late collection account (paid and deletion sent 3/11/11)

I had no idea what my score was when I applied and was instantly approved. After applying is when I found this community and joined and now am more educated on dealing with credit.

- Clash

Update:  I just pulled my TU number and it was 682. My revolving accounts were reported as paid. My EQ, dated 3/9/2011, reported me as 602 but still had the full 95% util. I didn't pay my accounts until after I was accepted by AMEX.