Amex Zync

[jforsyth]

Don't ask for a CLI. Discover has already given you two.

If you can, try to pay off or pay down a 70% balance before the statement is generated. That way, you can have those big spending months, but your utilization on the closing date of the statement is far lower. Don't apply for Zync with a high utilization, or any utilization over 10%. It's not a difficult card to get, but Amex won't like to see that.

I'm 19. I got my first card in 1/10 from BofA with a $700 limit. I spend between $200 and $600 per month, but my utilization is 0% because I always pay it off before my statement cuts. Because your recent payment shows up on your reports, other creditors will still know how much you're using your card, but a high utilization won't kill you in their algorithms. 

I was instantly approved online for Amex Zync in 7/10. My internal limit upon approval was about $2000. I haven't checked the internal limit since. My utilization upon approval was 0%, and my recent payment about $500.

And yes, I know that 0% utilization is NOT the most ideal percentage, but it is the easiest to manage. I buy what I can afford and I pay it off every month before anyone ever sees the balance. I'm not applying for any mortgages or car loans right now, so I'm not trying to play the "game" in terms of messing with my utilization to find the sweet spot (which is between 1% and 9%). I might start doing this once I get a couple more revolving TLs, but for now paying in full before closing works just fine for me.

My EQ FICO as of 8/10 was 735.

[MarineVietVet]

---

@jforsyth wrote:

Don't ask for a CLI. Discover has already given you two.

If you can, try to pay off or pay down a 70% balance before the statement is generated. That way, you can have those big spending months, but your utilization on the closing date of the statement is far lower. Don't apply for Zync with a high utilization, or any utilization over 10%. It's not a difficult card to get, but Amex won't like to see that.

I'm 19. I got my first card in 1/10 from BofA with a $700 limit. I spend between $200 and $600 per month, but my utilization is 0% because I always pay it off before my statement cuts. Because your recent payment shows up on your reports, other creditors will still know how much you're using your card, but a high utilization won't kill you in their algorithms. 

I was instantly approved online for Amex Zync in 7/10. My internal limit upon approval was about $2000. I haven't checked the internal limit since. My utilization upon approval was 0%, and my recent payment about $500.

And yes, I know that 0% utilization is NOT the most ideal percentage, but it is the easiest to manage. I buy what I can afford and I pay it off every month before anyone ever sees the balance. I'm not applying for any mortgages or car loans right now, so I'm not trying to play the "game" in terms of messing with my utilization to find the sweet spot (which is between 1% and 9%). I might start doing this once I get a couple more revolving TLs, but for now paying in full before closing works just fine for me.

My EQ FICO as of 8/10 was 735.

---

I have to agree with this. Unless a person is rebuilding credit or knows they will be seeking credit in a few months time it seems silly (and exhausting) to constantly juggle accounts and balances just to tweak your score for maximum points each and every month.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[Anonymous]

Ok i printed my Experian report from what ive seen that what ppl say amex checks.  It has a spot under my discove card that shows a spot for high balance which shows $524 so even if i wait a month and get my ratio down to 10-15% will they not even look at my high balance in calculating my ratio or is it just done on a a month bases. 

[Cory]

Hello Guys!

I'm starting to like my Zync Card too. I am not interest in a Revolver Card from Amex Express anymore, I'll just stick with the Zync. Pay the balance, charge only my monthly expenses, earn poinst and move on.

Cory

[Anonymous]

OK not sure what that was about cory. 

Also to add i saw on the report it showed that the report was last updated on 9/10 and has my $524 in the report and my discover statment posts on the 10th so that means they must send it when my statment posts and not just at the end of the month.

so from what info im getting this is what im thinking my best plan of action is.

-pay a portion of my balance now so that when my statment posts it will be under 10% of CL.

-statment will post on the 10th of october and i will pay it in full on the 11th or 12th.

-wait till the 15th-20th to ensure the new figures are sent to my reports.

-Apply for American Express Zync.

If you think this is my best plan of action for near guaranteed approval let me know if not please suggest alternate route.

Thanks

[Cory]

Oh, I'm sorry. I was just raving about the Zync card. I'll be quiet now.

Cory

[Anonymous]

Bump

let me know if you think thats my best plan of action.

edit***  How big of an account does amex take income as a factor for approval.

[monicar2009]

Out of curiosity, you guys had to give them your pay stubs correct? When you applied.

[haulingthescoreup]

---

@monicar2009 wrote:

Out of curiosity, you guys had to give them your pay stubs correct? When you applied.

---

I've never had to give AmEx pay stubs!