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Hi everyone!
I know the PSL Zync has been a subject of much debate so I decided to share my recent experience. I was just approved for an Amex Green without having to cancel the PSL Zync. No recon required.
I had applied for the Green card 3 times in the last 4 months. I got an instant decline all 4 times. Tried recon twice and would always end up being denied because my cardmember risk score was too high. Since I was already a cardmember and it was only a softpull I didn't care that much and had accepted the fact that I would have to cancel my Zync before applying for another Amex because it increases their internal risk score.
On Sunday however, I decided to try it one more time since I've had the Zync for 14 months and my Experian FICO was hovering the 700s. It was not an instant decline so that was refreshing. I got an email that it required further processing and didn't give it much thought since I was almost positive they would decline me one more time. To my surprise I received an email this evening (2 days after I applied) saying congratulations your application has been approved.
During the past 14 months I've used my Zync somewhat heavily usually paying around $1k-1.5k a month, never missed a payment and usually pay in full before the statement cuts. Additionally I work for a Fortune 10 company and I've been an Amex corporate card as an authorized user for my company for 7 years (I don't think this makes much difference). Income is 65k, 2 paid credit card charge offs that fall off in October and a bunch of late car payments from 4 years ago. Other than that perfect payment history for the past 3 years.
So there you have it fellow forum members, got approved without having to jump through hoops. Maybe they changed their policy after discountiniuing the Zync Packs? Who knows. Time will tell.
Update: i algo applied and was approved for Amex Blue. PSL Zync still open. Looks like Amex finally figured out their approval policy for PSL Zync account holders. So with this new addition I believe it's time to say buh-bye to my $300 Orchard card with $59 fee and Capital One secured.
I know the PSL Zync has been a subject of much debate so I decided to share my recent experience. I was just approved for an Amex Green without having to cancel the PSL Zync. No recon required.
I had applied for the Green card 3 times in the last 4 months. I got an instant decline all 4 times. Tried recon twice and would always end up being denied because my cardmember risk score was too high. Since I was already a cardmember and it was only a softpull I didn't care that much and had accepted the fact that I would have to cancel my Zync before applying for another Amex because it increases their internal risk score.
On Sunday however, I decided to try it one more time since I've had the Zync for 14 months and my Experian FICO was hovering the 700s. It was not an instant decline so that was refreshing. I got an email that it required further processing and didn't give it much thought since I was almost positive they would decline me one more time. To my surprise I received an email this evening (2 days after I applied) saying congratulations your application has been approved.
During the past 14 months I've used my Zync somewhat heavily usually paying around $1k-1.5k a month, never missed a payment and usually pay in full before the statement cuts. Additionally I work for a Fortune 10 company and I've been an Amex corporate card as an authorized user for my company for 7 years (I don't think this makes much difference). Income is 65k, 2 paid credit card charge offs that fall off in October and a bunch of late car payments from 4 years ago. Other than that perfect payment history for the past 3 years.
So there you have it fellow forum members, got approved without having to jump through hoops. Maybe they changed their policy after discountiniuing the Zync Packs? Who knows. Time will tell.
Update: i algo applied and was approved for Amex Blue. PSL Zync still open. Looks like Amex finally figured out their approval policy for PSL Zync account holders. So with this new addition I believe it's time to say buh-bye to my $300 Orchard card with $59 fee and Capital One secured.
Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
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