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Busting the Amex Myths! Zync Approved!

Regular Contributor

Re: Busting the Amex Myths! Zync Approved!

Awesome, congrats!

Message 11 of 17
Regular Contributor

Re: Busting the Amex Myths! Zync Approved!


haulingthescoreup wrote:

 

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.  Smiley Very 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.  Smiley Wink


Just to put a period on this post, the new Zync card FINALLY arrived today (12 calendar days ... agony ... I thought Amex might have changed its mind).

 

No pre-set spending limit.  I punched in $200, then $500 under "check your spending ability," just for fun, and both came back APPROVED and said "no pre-set spending limit."  Only planning on using for gasoline and phone/internet/cable bill for now.  Eeeeeaaaassssyyyy does it ... no sudden, jerky moves with this card.

 

Interestingly, the card is backdated to 1999, which is the same date on my boss's Platinum Business card that I carry (with my name on it).  I'm beginning to think that my AU status on that card is what contributed to my success in getting the Zync card(?)  Who knows?

 

Again, thanks for all the info I gleaned here that prompted me to apply and "upgrade" to a big boy card.

 

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Message 12 of 17
New Contributor

Re: Busting the Amex Myths! Zync Approved!

Careful with that "check you spending ability" button. Thats the fast track to F/R if its hit too many times...


Enjoy the Card!!! I love mine Smiley Happy

____________________________________________________________
EQ FICO - 710 as of 10/28/2010

700 Club
Message 13 of 17
Established Contributor

Re: Busting the Amex Myths! Zync Approved!


evohuntinwrx wrote:

Careful with that "check you spending ability" button. Thats the fast track to F/R if its hit too many times...


Enjoy the Card!!! I love mine Smiley Happy


+1

Message 14 of 17
Regular Contributor

Re: Busting the Amex Myths! Zync Approved!

Thank you for the info.  Had no idea ...  Hope I don't get penalized for my curiousity ...

 

What exactly does F/R involve, anyway?

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Message 15 of 17
New Contributor

Re: Busting the Amex Myths! Zync Approved!

Well essentially even though you have been approved, AMEX is contantly "auditing" you, to see if you are a risk to them...

 

It is commonly believed that hitting the check your spending ability button too much can throw up flags, and make them worry about what your checking for/if your trying to see if you can max out... You seem to hit it twice or so, I wouldnt worry about it. Just lay off the clicking for a while.... Smiley Wink

 

F/R (Financial Review) is essentially them verifying that you can pay. So usually they will ask for your premission for them to release your tax info from the previous year, or if you dont have tax info they will want you to fax your pay stubs.If you were honest on your application, you have nothing to fear.

 

It can be a bit of a inconvenience tho....

 

And to be completely honest, I think out of the Majority of AMEX carholders, the people that actually get F/R'ed is much less than this forum leads to believe. Its just a lot of people that have been F/R'ed come here, however im sure the vast majority of fiscally responsible AMEX cardholders, are just fine....

____________________________________________________________
EQ FICO - 710 as of 10/28/2010

700 Club
Message 16 of 17
Regular Contributor

Re: Busting the Amex Myths! Zync Approved!

evo,

 

Thank you for clarifying.  In all my reading here, I had missed the connection between the "check your spending ability" button and F/R.  Not planning to hit it again--especially now.  Anyway, I was honest on my app, so it would at most be an inconvenience.

 

Thanks again.

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Message 17 of 17