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Regular Contributor
Posts: 144
Registered: ‎07-21-2012
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Re: Having trouble applying for AMEX revolver


ssdc1980 wrote:

I currently have the Zync card


Sorry to break the news to you (and all the others who swear by the Zync card) but having a Zync card only shows that you have the credit profile to... have a Zync card. The primary benefit of having a Zync card is to Trojan horse your way into Amex with unlimited SPs (per 90 days I believe). You STILL need the credit profile to qualify for a revolver and having the Zync card will only help if you are currently building excellent credit with the card. Hell you could just as easily have chosen any other credit card, built up excellent credit and still got a Amex revolver, minus the AF fee. You can easily spend a year with a Zync card and not qualify for a revolver, having a Zync makes no difference.

 

Also people need to open their eyes to the myth of the Amex “relationship”. Amex doesn’t sit there and say, “Bob wants a revolver, he’s credit is average, and his income is low, but hey he’s got a ‘relationship’ with us because he has our lowest rung card, the Zync card, yeah we’ll let Bob get a revolver." NOT!

 

There really needs to be a sticky about the Zync card, because it’s being pushed on these boards like it’s going out of style, but I’ve read countless threads of people getting denied revolvers.

 

The reason you’re “having trouble” is because a Zync doesn’t give you any preference to getting a revolver.

 

Starting Score: EX: 736 FAKO | TU: 757 FICO | EQ 730 FICO
Current Score: EX: 736 FAKO | TU: 750 FICO | EQ 730 FICO
Goal Score:     EX: 750 FICO | TU: 750 FICO | EQ: 750 FICO
In my wallet:  $16,000  $8,000
Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
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Re: Having trouble applying for AMEX revolver

^+1
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)
Regular Contributor
Posts: 243
Registered: ‎06-07-2011
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Re: Having trouble applying for AMEX revolver

HenryJumbo is right. I've had the Zync for 18 months and I still can't get a Amex revolver nor another charge card. I used to charge all of my daily expenses and utility bills to it and pay several times a month. I have stopped using it as the begining of this month and am currently thinking of closing it come to 2nd year anniversary in Feb of next year. So having a relationship does not mean 12 months down the road you will get another card from them or whatever.

Frequent Contributor
Posts: 396
Registered: ‎04-02-2012
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Re: Having trouble applying for AMEX revolver

So glad I got approved for Zync and BCE the same day.  I almost did the Zync by itself thinking I can get a revolver using my "Zync relationship".  My only worry now is doing CLI's on the BCE, but at least I'm in.

My Wallet:
Discover It $14,300 | Chase United $12,000 | Chase Sapphire Preferred $7,000 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $4,200 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
Valued Contributor
Posts: 1,987
Registered: ‎06-25-2012
0

Re: Having trouble applying for AMEX revolver

@razeus
Me too i was gonna follow what everyone said about getting the zync and waiting a year but applied for the bce first and approved with scores and income that according to some people here it was gonna be a sure decline. Now i have 3 amex lol
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
Posts: 731
Registered: ‎02-15-2012
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Re: Having trouble applying for AMEX revolver

I definitely think that the importance of the Zync gets over stated.  Plenty of people get approved for the Amex Blue cards without ever having any previous Amex cards and plenty of people who qualify for the Zync still can't get revolvers after a couple years.  I'm sure the underwriting criteria for the cards is drastically different and showing responsibility with a charge card doesn't necessarily translate into responsibility with a credit card.  You will need good credit to get an Amex Blue, whether or not you have a Zync.  It might make a difference in the most marginal of cases, but probably only if you make heavy use of the Zync, like charging and promptly paying atleast a couple grand a month.  If you just get one and barely use it thinking just having it for 6 months will get you a revolver, I think you're pretty mistaken.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Community Leader
Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
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Re: Having trouble applying for AMEX revolver

[ Edited ]

HenryJumbo wrote:

ssdc1980 wrote:

I currently have the Zync card


Sorry to break the news to you (and all the others who swear by the Zync card) but having a Zync card only shows that you have the credit profile to... have a Zync card. The primary benefit of having a Zync card is to Trojan horse your way into Amex with unlimited SPs (per 90 days I believe). You STILL need the credit profile to qualify for a revolver and having the Zync card will only help if you are currently building excellent credit with the card. Hell you could just as easily have chosen any other credit card, built up excellent credit and still got a Amex revolver, minus the AF fee. You can easily spend a year with a Zync card and not qualify for a revolver, having a Zync makes no difference.

 

Also people need to open their eyes to the myth of the Amex “relationship”. Amex doesn’t sit there and say, “Bob wants a revolver, he’s credit is average, and his income is low, but hey he’s got a ‘relationship’ with us because he has our lowest rung card, the Zync card, yeah we’ll let Bob get a revolver." NOT!

 

There really needs to be a sticky about the Zync card, because it’s being pushed on these boards like it’s going out of style, but I’ve read countless threads of people getting denied revolvers.

 

The reason you’re “having trouble” is because a Zync doesn’t give you any preference to getting a revolver.

 


Though I agree with your premise that the Zync is not a guaranteed "in" with an Amex revolver, I do however see the great benefits of apping the Zync to get a relationship with Amex.  I don't think it is a overstatement to tell someone to go ahead and get the relationship with Amex when you can so that further down the road, if it is your intention to develop a long relationship with Amex, get in as early as you can.  Just to name a few:  SPs to determine where you are to getting the revolver you want, EX FICOs and probably most importantly.... backdating.

So though you might not now be eligible to get that revolver you want, you do have still many benefits to getting "in" with Amex.  I think also, the Amex Zync card is a great card in and of itself for those starting out or rebuilding.  Teaches the use of great credit habits.  

One more thing... I don't think the OP ever stated that he was apping because of his relationship with Amex, but only that it would be a SP.  In this premise OP was right and it's a benefit of having an Amex card.  I see no problem with this.  If anything... OP now knows where he/she is on the credit journey to getting the Amex revolver and it didn't cost a HP.  

 

Edited for grammar.  Smiley Happy


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

Frequent Contributor
Posts: 396
Registered: ‎04-02-2012
0

Re: Having trouble applying for AMEX revolver


improvingmycredit wrote:

HenryJumbo wrote:

ssdc1980 wrote:

I currently have the Zync card


Sorry to break the news to you (and all the others who swear by the Zync card) but having a Zync card only shows that you have the credit profile to... have a Zync card. The primary benefit of having a Zync card is to Trojan horse your way into Amex with unlimited SPs (per 90 days I believe). You STILL need the credit profile to qualify for a revolver and having the Zync card will only help if you are currently building excellent credit with the card. Hell you could just as easily have chosen any other credit card, built up excellent credit and still got a Amex revolver, minus the AF fee. You can easily spend a year with a Zync card and not qualify for a revolver, having a Zync makes no difference.

 

Also people need to open their eyes to the myth of the Amex “relationship”. Amex doesn’t sit there and say, “Bob wants a revolver, he’s credit is average, and his income is low, but hey he’s got a ‘relationship’ with us because he has our lowest rung card, the Zync card, yeah we’ll let Bob get a revolver." NOT!

 

There really needs to be a sticky about the Zync card, because it’s being pushed on these boards like it’s going out of style, but I’ve read countless threads of people getting denied revolvers.

 

The reason you’re “having trouble” is because a Zync doesn’t give you any preference to getting a revolver.

 


Though I agree with your premise that the Zync is not a guaranteed "in" with an Amex revolver, I do however see the great benefits of apping the Zync to get a relationship with Amex.  But, I don't think it is a overstatement to tell someone to go ahead and get the relationship with Amex when you can so that further down the road, if it is your intention to develop a long relationship with Amex, get in as early as you can.  Just to name a few:  SPs to determine where you are to getting the revolver you want, EX FICOs and probably most importantly.... backdating.

So though you might not now be eligible to get that revolver you want, you do have still many benefits to getting "in" with Amex.  I think also, the Amex Zync card is a great card in and of itself for those starting out or rebuilding.  Teaches the use of great credit habits.  

One more thing... I don't think the OP ever stated that he was apping because of his relationship with Amex, but only that it would be a SP.  In this premise OP was right and it's a benefit of having an Amex card.  I see no problem with this.  If anything... OP now knows where he/she is on the credit journey to getting the Amex revolver.


What's so important about backdating?  Forgive my ignorance.

My Wallet:
Discover It $14,300 | Chase United $12,000 | Chase Sapphire Preferred $7,000 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $4,200 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
Frequent Contributor
Posts: 470
Registered: ‎08-14-2012
0

Re: Having trouble applying for AMEX revolver

Backdating allows new accounts to be reflected on your credit report as opening since you have been a cutomer which can significantly increase you AAoA. Now that you have your Amex, in 10 years, you can open up another Amex revolver. Instead of the new card reporting that it was opening in 2022, it will be reported as opened in 2012!

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Community Leader
Valued Contributor
Posts: 1,408
Registered: ‎07-12-2011
0

Re: Having trouble applying for AMEX revolver

Once you are a cardmember with Amex, you are always a cardmember and all subsequent applications for credit products are backdated to the first year you became a member.  So just to give a few examples of what this means:  If you became a cardmember year 2009 then all you new accounts with Amex are backdated to the month you are approved with the new card and the year 2009.  You gain extra age on on your CR for now having 2 cards that are reported as opened in 2009 instead of a new account that could potentially lower your AAoA.  Also, if you decide to close your current account then later, say 6 years down the road again develop a relationship with Amex,  all your new accounts are backdated to the original cardmembership date.  Pretty neat stuff.  You actually gain AAoAs even though you haven't had a Amex relationship for the last 6 years.


Starting Score: 642
Current Score: EQ 773, EX 780, TU 777 (All FICO)
Goal Score: 800+

Cards: NFCU Flagship 50K, DC 30K, BCP 28.6K, Arrival+ 25K, Citi DP 22.8K, CSP 20.5K, TotalRewards 20.5K, QuickSilver 20K

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