Chances for a Zync?

[Anonymous]

I really want to apply for the Amex Zync card.  I'd like to get my foot in the door with Amex so I can grow with them.  I do have a blemished credit history.  Currently on my experian report I have a collection listed and an old card that was closed but paid. 

I've had a Cap One card since January and have had perfect payment history. Always pay way more than minimum and early.  I just opened a Wal-Mart card but haven't gone through a whole billing period so nothing to report on that one yet but it's already on all my reports.  Between the two cards I have a $1950 CL and am currently at about 20% utilization- it's all on my Cap1 card.  I took out a car loan in March and have perfect payment history on that too.

What are my chances? I keep itching to apply but I'm wondering if I'll do myself a favor and just wait a few months for me to show responsible history w/ two cards and get my utilization lower before apping for the Zync.

Thoughts on if I should stand a chance now or later?

Also, on my Experian report I only have the inquiry from Cap One in January and from GEMB in August. 

Scores as of yesterday: TU- 694; EQ- 674

[Anonymous]

I applied yday and was denied but your credit is much better than mine. I asked the CSR on the phone what they'd like to see and she said an EX score in the mid 600s while I'm in the low 600s.. With your scores you probably have a shot. I have a single charge off on my credit and she didn't even mention it.

[flyingmd]

How long is your AAOA? What is the negative? If it's a charge-off, you are unlikely to get in with AMEX, even if it is eventually paid. aMEX has there own internal scoring and FICO is just one factor. But AMEX is generally not friendly to Collections, Charge offs, or more than 30 days late (unless the late was many years ago. You can try and see what they say so at least you'll know what you have to clean up to be considered in the future. And hey, you never know.......

[HoldingOntoHope]

On the other hand, you may want to consider applying this year so any future AMEX cards will receive a backdate to 2011 instead of 2012. IMO if you apply and are denied you could always call and ask for recon. If you apply and are approved Hooray! Although I don't carry AMEX just be aware that I have read on these boards that if the first pull is marginal approval / denial they may pull other bureaus to make a decision.

If an inquiry or two is not a big issue for you Go For It. Even with a denial you would find out what they are looking for to change.

[xlr8d]

I got approved with a chargeoff with cap1 in 2007 still on my report and a 30day late about 2.5 years old with a score of around 630 a few months ago. It wasn't insane approval but they use verified my identity and that's it. It wasn't the approval with a 500 cl with autopsy either. Highest balance of almost 1500 so far

[Anonymous]

I applied.  Got the 60 second wait process and then given a number to call.  Got an email saying the same thing. I need to cally to verify address and phone number.  Not sure if this is a good thing or a bad thing.  I hate rejection over the phone. 

[Anonymous]

Probably a good thing! when I applied they flat out denied me online -_-

[HoldingOntoHope]

Please call. I told myself I would hold my breath until you post your results.

[Anonymous]

Called.  They're having trouble verifying my address.  I work for a university running a dorm and my job requires that I live in the dorm. I've got to find something that lists my physical address since I don't have utilities or anything like that. 

Going to find something and get it to them this afternoon if I can.

[Anonymous]

Sounds like a good sign to me