10-02-2012 08:37 AM
According from what I read about Zync, I was one of the last lucky ones. Have my Zync since 1 week, with NPSL, even so my history is only 7 months long. And I am more then happy to be a part of the family, esp. since the spending ability button is already real nice to me.
But nevertheless I was wondering about something. Even so the chance of being approved for a revolver is next to nothing, why not just go ahead and try? The best what could happen would be an approval, even with a toy limit it could grow within 8 months (2xCLI). Another INQ would not hurt that much I guess (only one INQ from Amexco recently, the rest are 6 months old) and my AAOA is already only 4 months.
If I am not approved (which I think will happen), it would only be a SP. I would receive a FICO score for free and some information, what Ameco wants me to do, before I apply once again.
So am I missing something here? Why not apply for a revolver every once in while and see what happens? Would I risk a FR or AA?
And one other question. How do one apply for a card as a member? How does Amexco know, that I am already a member? Log In into my account and the fill out an application?
I am not planning to do this, but it is very tempting and I was thinking quite a bit about that the last days.
10-02-2012 08:40 AM - edited 10-02-2012 08:41 AM
Yes you just log in and apply. If I were you I would wait till January- That way if you do get approved you get backdated to January 2012, a year of free history.
It also means you have a few more monthsof history with Amex which couldnt hurt!
10-02-2012 08:41 AM - edited 10-02-2012 08:42 AM
Ha Ha, that would be interesting. Backdated to January 2012, but only having my SSN since March 2012
Agreed on the history, but why not do it now and if declined do it again in January?
10-02-2012 08:44 AM
Becouse if you do get accepted you dont get the history, your member since will show October 2012 (I think..I could be wrong) Instead of January 2012.
Agian I could be wrong, im still waiting for my Zync..should be here on Friday I got in just in time!
10-02-2012 08:44 AM
10-02-2012 08:48 AM
I would suggest waiting at least six months before applying for a revolver. Right now your history is short, and it gives amex time to get to know you. Those months of paying on time and in full will boost your internal score greatly. Right now, you've been approved but you have yet to build trust with them so to speak. Plus, the starting limit you would get if you applied in six months to a year would likely be significantly larger than if you applied right away. I know it can grow with a 3X cli, but the difference between starting at 1 or 2 k and getting to 3/6 k and starting at 3/4 k and getting to 9/12 k is worth waiting in my opinion.
10-02-2012 09:30 AM - edited 10-02-2012 09:32 AM
I'd add that while there is no damage to one's FICO if denied, there's going to be an internal record of the application that may or may not work in your favor.
I don't think the average customer knows about the SP denial, and I doubt there's that many outside of here and similar forums that try to do the Amex 2 or 3-step so aggressively. Most pick their card and go with it, and anecdotally people who have constantly run after Amex screaming "pick me! pick me!" have had more challenging approvals even with the Zync let alone the cards Amex has been more conservative with.
CreditScholar and others have suggested there are changes to Amex coming. I think it's in all of our (Zynced people in this case) best interests to look as desirable as possible and I don't think making this app accomplishes that.
Granted YMMV but there's a good chance Amex will see this as a frivolous app and that's not a good place to be with a historically conservative lender, or probably any lender for that matter.
I much prefer hiding in the haystack: Amex - this is not the backdating you are looking for.
10-02-2012 09:43 AM - edited 10-02-2012 09:45 AM
Thanks all, good points made.
I really was just curious. I am in no need for an additional card. I have my Zync NPSL and in worst case still a MC from Germany with a real good limit and no Forex fees. So I can and will wait. Esp. to see what (good) will happen from Amex about ZYNC.
And there is always my Alliant VISA, which should grow according to the customer service after 6 months (after I call them and take the HP).
Btw. will I really be backdated to Jan 2012, even so I received my SSN only in March 2012? Ha, Ha this is just great. So every new Amexco for which I apply in a January will be older then my SSN Amex I love you already.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.