Maybe closing my Amex Zync/Gold PRG - Overrated

[chris2k5]

So I got a Zync in March then earlier this month I got a Gold PRG card from Amex. Both instant approvals.

After using both cards pretty well within my means and for everything, I have a feeling Amex charge cards are just not right for me.

Anyone else feel this way? I am thinking of closing my Zync card.

I just don't see the benefits of the Amex charge card over my Chase cards. Is it a waste to only have my Zync open for a few months and having wasted a hard pull already?

[Viper786]

I personally never use my Amex. I applied for it last year just to get in with Amex. I applied with a 650ish credit score and got an instant NPSL approval. I've used it a few times here and there, but I haven't used it in at least 4 or 5 months now. I am considering closing it down before my next AF hits in April.

[webhopper]

I use mine and I think it fits my needs but agreed its not for everyone

[logan_720]

I too opened mine to get in with Amex. As far as using a charge card over regular credit cards, I use mine for everything I use my debit card for since its sort of equal in a way, I have to pay if off each month. So I'm able to rack up points, and still build a relationship with Amex. 

[Revelate]

Until reently you could get a Zync before you could get any Chase card, or any similar rewards package equivalent to the Zync for most things, NFCU nRewards not withstanding.

Now that the Freedom's underwriting has changed, and even BOFA's secured product now with formerly prime rewards, Zync has lost a lot of it's market position in my opinion.  I'll still apply for one come December just to establish my membership date (on the assumption I get approved); however, it's just not going to be a big deal either way at this point.  Odds are I'll get a Freedom at the same time, so the Zync probably won't do much for me except for some bills and the connect pack.

[SwampSystems]

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@chris2k5 wrote:

I just don't see the benefits of the Amex charge card over my Chase cards. Is it a waste to only have my Zync open for a few months and having wasted a hard pull already?

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Even if you close the account, it will continue to age and benefit your AAOA for another 10 years. I don't know what Amex's policy is on PC, but you may want to inquire about getting a PC to a revolver like the BCE if you don't want to simply close the account outright. I too wanted to get in with Amex and that's why I recently apped for the BCE. As long as you PIF every month anyway, it shouldn't really make a difference whether you're using a charge card or a credit card. And it's always good to have cards without an annual fee.

Besides, if you can get a Visa Signature card, you can treat it like a NPSL charge card anyway.

[logan_720]

Also I think what makes the Zync lag quite significantly against it's competitors is the fact that the MRe points are worth a fraction of what true MR points are. 

[Cdnewmanpac]

First, why not keep the cards for a year and close when AF is due. Second, do you ever make purchase greater than 3k? Can't do that with your other cards. To me, the prg only makes sense if you have bonus category expenses of several thousand a month. Once you hit year 2 of the card, you need to 17500 points through spending just to break even. What were you hoping to get from prg that you weren't getting from zync?

[Revelate]

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@logan_720 wrote:

Also I think what makes the Zync lag quite significantly against it's competitors is the fact that the MRe points are worth a fraction of what true MR points are. 

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Depends on your use case, for gift cards (my usual one presumably) they're equilvanet to MR.  Also in the OP's case, he can link the Zync to his gold anyway so all his MRE -> MR.  Non issue in that case.

[Viper786]

From what i've read, you can't PC from a Zync to a revolver. Not 100% sure on this.