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Established Member
newtocredit
Posts: 42
Registered: ‎09-10-2010

Balance on Zync Card

Hi guys,

 

i noticed on my credit reports i have a balance on my zync card,  does this hurt my credit score?

 

I know its  a charge card with no limit, i was wondering how this affects my scores.

 

 

FYI:  i got approved for a nationwide visa recently!  i got my first credit card in dec last year, this is my 3 major one. wohoo!  thanks for your helpful posts guys!

 

 

 

Mega Contributor
Creditaddict
Posts: 18,566
Registered: ‎10-23-2007

Re: Balance on Zync Card

 


newtocredit wrote:

Hi guys,

 

i noticed on my credit reports i have a balance on my zync card,  does this hurt my credit score?

 

I know its  a charge card with no limit, i was wondering how this affects my scores.

 

 

 

 


no it's not included in your debt util.

 

Fico Scores: EQ 639 Navy, TU 667 GE, EX 677 Prosper (06-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Regular Contributor
OnWayUpinTexas
Posts: 142
Registered: ‎01-19-2010

Re: Balance on Zync Card

New, Do you have your Nationwide card yet? How long between your application (if online) and when you received word of acceptance? If you don't mind my asking. Thanks.
Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Established Member
newtocredit
Posts: 42
Registered: ‎09-10-2010

Re: Balance on Zync Card

 

I applied yesterday online, approved instantly.

 

i waited a month before i applied and tried to keep my debt utilization down.

 

 

Don't know my limit yet, waiting for it to come in the mail.

 

Regular Contributor
OnWayUpinTexas
Posts: 142
Registered: ‎01-19-2010

Re: Balance on Zync Card

Thanks.  Since my Inquiries on TU are so light, I pulled the trigger on one last week and got the 7-10 day response and "we may be calling you to ask for more information."  They haven't called.  When I call, they say "you should see something in the mail soon."  That doesn't sound "approved" to me.  Oh well ...

 

But I digress ... didn't mean to hijack a Zync Card thread.  Yeah Zync!

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Regular Contributor
iluvmyfico
Posts: 163
Registered: ‎03-10-2008

Re: Balance on Zync Card

Actually it can hurt your Transunion score but only if the lender or where you're pulling uses TU98, that version calcs Charge cards into UTIL but the newer version, TU04 doesn't.  Equifax does not calc into UTIL either.  If you pull your TU from here then yes it will hurt your score.   Wanted to clarify.

Frequent Contributor
ArisGreek
Posts: 477
Registered: ‎09-24-2010

Re: Balance on Zync Card

Speaking of TU inquiries...when I pull my TU report from MyFico it doesn't show any inquriies...It just says "There are no inquiries that are affecting your score." But I have no clue who has pulled what...Is there a place I'm not looking?

===========
TU: 745(TU98) | EQ: 774 | EX: ? | NO BADDIES!
What's in my wallet? AMEX Platinum, United Presidential Plus World Elite MC, AMEX JetBlue, Nordstrom Visa Sig, Chase Sapphire Preferred, Discover More, AMEX Zync, Citi AAdvantage Plat Select Visa, Banana Republic, Home Depot
Established Contributor
TheCreditKid
Posts: 626
Registered: ‎08-14-2010

Re: Balance on Zync Card

[ Edited ]

newtocredit wrote:

Hi guys,

 

i noticed on my credit reports i have a balance on my zync card,  does this hurt my credit score?

 

I know its  a charge card with no limit, i was wondering how this affects my scores.

 

 

FYI:  i got approved for a nationwide visa recently!  i got my first credit card in dec last year, this is my 3 major one. wohoo!  thanks for your helpful posts guys!

 

 

 


I don't think AMEX is counted towards your Ulti.

 

______________________________________________________________________________________________________________

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Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,115
Registered: ‎04-01-2007

Re: Balance on Zync Card

Check out iluvmyfico's post up above. It's correct.

 

TU98 (the TU version that we're stuck with here, and from transunioncs.com) is the only FICO scoring version that includes AmEx charge card balances in revolving util. The others ignore it. Nearly all TU-pullers use TU04 now, so it's not an issue. (It's TU that determines which version we're stuck with.)

 

So although you might get a jolt when you pull your TU score here, most lenders will be pulling different scores, and AmEx balances will be excluded.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

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