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Established Contributor
shakalaka
Posts: 547
Registered: ‎09-10-2012

Have Zync - question about revolver

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.


Amex Platinum (NPSL) | Amex BCE (33,400) | Chase Sapphire Preferred (17,400) | Discover IT (12,700) | Chase Freedom (4,800) | Walmart (4,500) | CapOne (1,500) | Alliant CU Visa | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO: TU 748 (4/30) EQ 730 (4/26) EX 748 (12/5)

Valued Member
Zanarov
Posts: 43
Registered: ‎10-02-2012

Re: Have Zync - question about revolver

[ Edited ]

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!

Established Contributor
shakalaka
Posts: 547
Registered: ‎09-10-2012

Re: Have Zync - question about revolver

[ Edited ]

Ha Ha, that would be interesting. Backdated to January 2012, but only having my SSN since March 2012 :smileyvery-happy:

 

Agreed on the history, but why not do it now and if declined do it again in January?


Amex Platinum (NPSL) | Amex BCE (33,400) | Chase Sapphire Preferred (17,400) | Discover IT (12,700) | Chase Freedom (4,800) | Walmart (4,500) | CapOne (1,500) | Alliant CU Visa | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO: TU 748 (4/30) EQ 730 (4/26) EX 748 (12/5)

Valued Member
Zanarov
Posts: 43
Registered: ‎10-02-2012

Re: Have Zync - question about revolver

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! :smileytongue:

Valued Contributor
jsickz32
Posts: 1,987
Registered: ‎06-25-2012

Re: Have Zync - question about revolver

Go for it if you really wanna try.
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Established Contributor
espnjunkie
Posts: 725
Registered: ‎12-14-2011

Re: Have Zync - question about revolver

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.

“The real measure of your wealth is how much you’d be worth if you lost all your money.” ~Unknown
Merrill+ Visa Signature ($25,000.00), Amex BCP ($29,700.00), Amex Green (NPSL), Capital One Quicksilver World Mastercard ($10,000.00), US Bank Business
TU-778 (04/28/2014))
EX (Plus) - 777 (10/21/2013)
EQ - 735 (April 2013)
Moderator
Revelate
Posts: 8,161
Registered: ‎12-30-2011

Re: Have Zync - question about revolver

[ Edited ]

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.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 703, TU 708, EX 702* (05/30/14, EX older)
Goal Score: 700 in all three (01/01/15)


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Established Contributor
shakalaka
Posts: 547
Registered: ‎09-10-2012

Re: Have Zync - question about revolver

[ Edited ]

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 :smileyvery-happy: Amex I love you already.


Amex Platinum (NPSL) | Amex BCE (33,400) | Chase Sapphire Preferred (17,400) | Discover IT (12,700) | Chase Freedom (4,800) | Walmart (4,500) | CapOne (1,500) | Alliant CU Visa | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO: TU 748 (4/30) EQ 730 (4/26) EX 748 (12/5)


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