Reply
Regular Contributor
OnWayUpinTexas
Posts: 142
Registered: ‎01-19-2010
0

Busting the Amex Myths! Zync Approved!

American Express and I have a long and storied past, but today is brand a new day!

 

When I was still in college in the mid-1980s, I obtained a green card and used it heavily, then took a dramatic pay cut at work after college and fell behind on monthly payments for a stereo I had ordered through Amex -- back then, they used to offer mail-order merchandise in the bills, and I had purchased a Marantz (sic?) tower stereo system and speakers that was the coolest in the most 80's sort of way.  Fell behind on the payments and, while I did pay it off, Amex and I decided to part ways.  It was their decision, not mine.

 

When I got married, I became an AU on my wife's Amex Green Card (which shortly thereafter became a Gold Card).  That went along fine for several years, until we bought a house that was too expensive for our finances (kind of like when the doctor tells you you're too short for your weight and you need to get taller--once we had the house, even the Amex--which we had always prioritized over everything else--suffered).  I had been taken off as an AU when we bought the house.  Good thing, because though we continued to charge on the Amex after we bought the house (and couldn't afford the Amex bill anymore), we soon fell months behind on paying the monthly charges (and extensive "Sign and Travel" charges).  We (she, though I came up with the funds) settled with Amex in 2006 or 2007, leaving a sizeable balance unpaid (but supposedly "settled").  (No part of that Amex card appears on my CRs, though I will say that that balance will get paid some day soon, I hope.)

 

The too-expensive house bit us hard, and we were forced to enter a DMP in the summer of 2005.  The Gold Amex card stayed outside of that plan because (quirky Amex) didn't seem to mind, at that time, that we were on a DMP, and we had a Blue Card that we continued to use (up until the Gold Card caught up with us, as noted above).  I screwed up the Blue Card because, although I was paying that bill monthly and on time, I neglected to check the bill or logon a couple of months and to realize that they had changed our payment terms and our payment had increased.  After 2-3 months of underpaying (admittedly negligently), Amex was done with that and wanted the full payment of the balance ($3500) or for us to go on a payment plan with that card.  We entered and successfully paid off that card early under Amex's separate payment plan.  (That card does appear on my credit report, but not as a derog--again, quirky Amex.)  We also successfully completed the DMP, paying off over $40,000 in credit card debt that we had acquired over about 25 years' time.

 

With the Gold Amex card settled, the Blue card gone, and our credit in shambles, my mom offered to make me an AU on her green card for work travel and the like.  That worked out fine for a few years with no hitches.

 

I joined the company I am with now in 2007 (with much of the above still unresolved--the Gold Card was settled, but we were still under the DMP and the separate payment program for the Blue Card), and a few months into the job I was issued an Amex Platinum Business Card.  I don't know what my boss found out or learned about my credit for that to happen, if anything, or what strings had to be pulled, but that relieved us from having to use my DM's Amex card as an AU anymore.  Never had a problem using that card, and no one at my job has ever said anything to me about my credit (it's a small company and I can say, not naively, not "that kind of place").

 

Today, after much soul searching and even more reading of posts on this board, I applied nervously for an Amex Zync card.  The online process was classically bumbling--the page "stuck" on the "processing" page after I submitted the app--nothing but white screen--and I had to reload it only for it to stick again, and then it finally spit out that it took longer than the standard 60 seconds to process my application (NO SURPRISE THERE!) and that Amex would notify me by email.  (That is usually the death knell, in my experience.)  Needless to say, I hit refresh on my email about 1000 times this evening and carried my Blackberry with me everywhere I went.  Finally, impatient as ever, I went to Amex's website to see if they had a "check application status" feature.  I couldn't find it and had to "search" the website for it.  When I finally found a link for it, I punched in my social security number and telephone number (I think--I'm too dazed)  and ...

 

Date ReceivedCardStatus of ApplicationNext Step
Nov 06, 2010
ZYNC(SM) FROM AMERICAN EXPRESS
Approved
Congratulations! Your application has been approved and you should receive your new card within 7-10 days.
If you requested a balance transfer to this card, click here to view the status of that transfer

 

Needless to say, I am FLOORED.  I was certain that I would be declined, after many attempts at Amex's pre-approval site and even DECLINES on mail offers from Amex (a case of the left hand not knowing what the right hand was doing, relative to my AU status on my DM's green card), and after reading about and BELIEVING (still believe, to some extent) posts about Amex Blacklists, etc., not to mention my rocky credit history not only with Amex but also generally.  But, thanks to advice I've received from just READING these posts and folks' experiences with rebuilding their credit, I feel as though I have really turned a corner.  And, I'm done apping for a year.  Time to take care of this card and a couple of others I've recently obtained, and continue to make sure EVERYTHING is paid on time, and PAID OFF when possible, as I've done for the last two years.  Just had to share this (silly, but joyful) experience with the readers here.  A (very negative) past with Amex can be overcome.  (And, clearly, credit reins must be loosening up.)  (And, to put a period on my long-winded story, we're still in the house and were able to refinance it last month and drop our interest rate 4 points! -- (it was in the stratosphere, needless to say).)  On to the credit gardening!

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Busting the Amex Myths! Zync Approved!

Muy bien!  Now come spend the new credit line here in Miami.  We have very fine  hotels, restaurants and beaches! 

Frequent Contributor
ficonightmare
Posts: 423
Registered: ‎10-25-2010
0

Re: Busting the Amex Myths! Zync Approved!

Congrats!!

I was just approved yesterday for ZYNC as well.

 

I'm wondering, has anyone been denied for this card?


Starting Score: 600s
Current Score: EQ 08 798 on 5/28/14, TU 792 on 5/27/4 via Barclay, EX 798 on 5/28/14
Goal Score: 760


Take the FICO Fitness Challenge

.
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Busting the Amex Myths! Zync Approved!

 


DI wrote:

Muy bien!  Now come spend the new credit line here in Miami.  We have very fine  hotels, restaurants and beaches! 


 

lol --You're loving your new home, aren't you?  :smileyvery-happy:


OnWayUpinTexas wrote:

American Express and I have a long and storied past, but today is brand a new day!

 

When I was still in college in the mid-1980s, I obtained a green card... Fell behind on the payments and, while I did pay it off, Amex and I decided to part ways.

 

I became an AU on my wife's Amex Green Card ...I had been taken off as an AU...

 

...we had a Blue Card... We... successfully paid off that card early under Amex's separate payment plan.

 

I joined the company... I was issued an Amex Platinum Business Card... Never had a problem using that card...

 

Date ReceivedCardStatus of ApplicationNext Step
Nov 06, 2010
ZYNC(SM) FROM AMERICAN EXPRESS
Approved
Congratulations! Your application has been approved and you should receive your new card within 7-10 days.
If you requested a balance transfer to this card, click here to view the status of that transfer

 


Congrats on being back in the tribe!!!

 

I did a bunch of deleting and highlighting in order to point out the important stuff: Yes, you had problems, but you've paid them back everything you yourself owed. That is key with AmEx.

 

They will probably keep you on a pretty tight rein for a year or so, until they're convinced that you're a new man, but hey, that's reasonable.

 

And on top of everything else, this card should show an opening date for the mid-80's.  :smileyvery-happy:

 

I have to add, I LOVE reading posts like this!!! So many people think that they've burned all their bridges, and that their name and SSN's are written on the bathroom walls of every lender on the planet, and they'll never, ever join or re-join the decent-credit crowd. It's wonderful to see that this isn't so.

 

Welcome to credit gardening. See you over at the compost pile.  :smileywink:

* 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
Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: Busting the Amex Myths! Zync Approved!

I want the Zync card, but I don't want to pay an annual fee for any card..  I've been preapproved for all of AMEX's cards.    Yes, I am loving my new home.  I love the Latin culture.  Gracias!

Frequent Contributor
ficonightmare
Posts: 423
Registered: ‎10-25-2010
0

Re: Busting the Amex Myths! Zync Approved!

haulingthescoreup- That's what amex said when I called prior to applying. That history with them makes a difference.

 

Does BoA backdate too?  :smileyhappy:

 


Starting Score: 600s
Current Score: EQ 08 798 on 5/28/14, TU 792 on 5/27/4 via Barclay, EX 798 on 5/28/14
Goal Score: 760


Take the FICO Fitness Challenge

.
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Busting the Amex Myths! Zync Approved!

 


ficonightmare wrote:

haulingthescoreup- That's what amex said when I called prior to applying. That history with them makes a difference.

 

Does BoA backdate too?  :smileyhappy:

 


 

AFAIK, only American Express does this. :smileysad: Many have tried, but none have succeeded in my memory. (Which at age 56 is pretty dang shaky.)

 

And since some people get confused on this, it only applies to cards that actually come from American Express. Cards with the AmEx logo from other banks, like BofA, Citi, USAA, PenFed, etc. etc, are processed through the AmEx network for payments, but they don't get the backdating goodie.

* 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
Frequent Contributor
ficonightmare
Posts: 423
Registered: ‎10-25-2010
0

Re: Busting the Amex Myths! Zync Approved!


haulingthescoreup wrote:

 


ficonightmare wrote:

haulingthescoreup- That's what amex said when I called prior to applying. That history with them makes a difference.

 

Does BoA backdate too?  :smileyhappy:

 


 

AFAIK, only American Express does this. :smileysad: Many have tried, but none have succeeded in my memory. (Which at age 56 is pretty dang shaky.)

 

And since some people get confused on this, it only applies to cards that actually come from American Express. Cards with the AmEx logo from other banks, like BofA, Citi, USAA, PenFed, etc. etc, are processed through the AmEx network for payments, but they don't get the backdating goodie.


That's really good to know, thanks.


Starting Score: 600s
Current Score: EQ 08 798 on 5/28/14, TU 792 on 5/27/4 via Barclay, EX 798 on 5/28/14
Goal Score: 760


Take the FICO Fitness Challenge

.
Regular Contributor
OnWayUpinTexas
Posts: 142
Registered: ‎01-19-2010
0

Re: Busting the Amex Myths! Zync Approved!


haulingthescoreup wrote:

 

 

They will probably keep you on a pretty tight rein for a year or so, until they're convinced that you're a new man, but hey, that's reasonable.

 

And on top of everything else, this card should show an opening date for the mid-80's.  :smileyvery-happy:

 

I have to add, I LOVE reading posts like this!!! So many people think that they've burned all their bridges, and that their name and SSN's are written on the bathroom walls of every lender on the planet, and they'll never, ever join or re-join the decent-credit crowd. It's wonderful to see that this isn't so.

 

Welcome to credit gardening. See you over at the compost pile.  :smileywink:


Thank you hauling.  Your posts and others' made it easier along the way.

 

Tight rein is a good thing for now.  And we can definitely live with that.

 

I hadn't even thought about the backdating thing.  I'll let you know for sure on that!

 

Thanks again.

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Established Contributor
gbishere
Posts: 736
Registered: ‎07-07-2010
0

Re: Busting the Amex Myths! Zync Approved!

I was just approved for the Amex zync card last week as well. I couldn't believe it. The approval took a WEEK to be completed. There was a few sleepless nights in there worrying I wasted a hard inquiry. The zync card is not well known but because of these forums we are realizing we can get into the amex club. Awesome! congrats!

__________________________
01/11/2011: FICO:TU: 746
12/14/2010: FICO:EQ: 744
08/12/2011: FICO:EXP: 766

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}