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Is there any harm in only having a Zync?

Super Contributor

Re: Is there any harm in only having a Zync?

Amex operates a little differently but I doubt they would have issue with cap1 since cap1 actually offers some very prime, hard to qualify for cards.

If you had FP, credit one, one of those continental finance matrix cards, a subprime mortgage or something like that, they will probably tell you to gtfo.

Message 11 of 14
Mega Contributor

Re: Is there any harm in only having a Zync?


XxRaVeNxX wrote:

Actually my denial from one place was


'Our analysis of the credit risk associated with customers who have accounts from the creditor(s) indicated in your credit report


 

This was from AMEX...Who you have on your credit report...matters...

 

Edit:

 


jd5189 wrote:

Other creditors cannot tell which cards you have by looking at your credit report (really, you cannot either but you know what you have Smiley Wink ) - They can only see that you have an account with that bank. They would not know the difference if you had a Centurion or a Zync. All they can see is that it is a charge account.


 

I dont think this is true...


 

Yea....

 

AMEX was keeping it real on the down low with that one Smiley Very Happy




EQ FICO 548 3/3/16
Message 12 of 14
Valued Contributor

Re: Is there any harm in only having a Zync?

 

First, for the OP, Zync is a great start with AMEX and gets you a member since date for when you add other AMEX products (should you decide to do so in the future).

 

AMEX doesn't mind seeing Cap 1 on a report, even with a low'ish limit.  They aren't real fond of Credit One, FP, Merrick and a few others that only issue sub prime starter\builder products. 

 

They can't tell which exact Card someone might have by the report, but the CAN tell from what lender (and some lenders are infamous for sub-prime rebuilders).

 

Great or Prime cards to look at are, like was mentioned above (shorter list here though, I'm bias Smiley LOL)

My top picks :

AMEX

Discover

NFCU or PenFed (if you can get into NFCU, many can't, and PenFed is usually rather hard to get).  Or any CU that is known to treat their customers well.

Chase

 

Not my personal favs but still very much prime:

US Bank

Barclays

Citi

BOA

And probably a few I forgot to mention or I haven't heard of.

 

(And yes, LS is very correct on AMEX being on the "DL" on the "who" but AMEX stating they don't llike seeing some lenders is very much true, they of course can't list who however lol).

 

Message 13 of 14
Highlighted
Mega Contributor

Re: Is there any harm in only having a Zync?


RyVision wrote:

 

First, for the OP, Zync is a great start with AMEX and gets you a member since date for when you add other AMEX products (should you decide to do so in the future).

 

AMEX doesn't mind seeing Cap 1 on a report, even with a low'ish limit.  They aren't real fond of Credit One, FP, Merrick and a few others that only issue sub prime starter\builder products. 

 

They can't tell which exact Card someone might have by the report, but the CAN tell from what lender (and some lenders are infamous for sub-prime rebuilders).

 

Great or Prime cards to look at are, like was mentioned above (shorter list here though, I'm bias Smiley LOL)

My top picks :

AMEX

Discover

NFCU or PenFed (if you can get into NFCU, many can't, and PenFed is usually rather hard to get).  Or any CU that is known to treat their customers well.

Chase

 

Not my personal favs but still very much prime:

US Bank

Barclays

Citi

BOA

And probably a few I forgot to mention or I haven't heard of.

 

(And yes, LS is very correct on AMEX being on the "DL" on the "who" but AMEX stating they don't llike seeing some lenders is very much true, they of course can't list who however lol).

 


I'm surpised they approved me, I had the trifecta

 

FP

CreditOne

HSBC

 

Smiley Very Happy

 




EQ FICO 548 3/3/16
Message 14 of 14