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Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
0

Re: Now that Zync is gone......


ccnewcc wrote:

Okay so Amex will approve you for the gold with scores of 650-675 with some negatives.

 

But they won't approve you if you don't have any revolving credit will they?

 

The gold can't be that easy.  Can it?  lol!


Im not sure how to answer your question since im kinda new to credit game too. Just reading from forum to forum. Take note and learn new thing everyday.

My credit score during approval was 675 with 2 charge off back in 2008.

i have 3 cards before i went to my apps spree which in the right hand side on my signature. Crappy One, Orchard and Credit 1. 


I think Amex based on many things on your credit not along with your credit score and stuff. I got instant approval after they verify my address. But when i call back later on at that day they told me they had to sent my application to another department for approval but i guess that's process only for credit limit which 1k on my Delta Cards.

 

Back to Post : I used to think Charge Cards is not kinda card that i looking for but after using it and instant approval for every purchase. It's make me feel like its more power than a revolver. I check my spending limit and its went up to 4000k . You have to paid for your statement in full 15 days after statement cut. I love it thou since its more control than a credit card which i had to paid my bill in full each month stay under my financial situtation  and not over charge it. Get a Green Cards....you love it......Then maybe app for Delta after approve for Green CArd. I heard you alway can PC to their BCE or other card that fit your need before the AF kick in. 

Let us know.....

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Contributor
Repo-ed
Posts: 2,954
Registered: ‎02-09-2012
0

Re: Now that Zync is gone......


ccnewcc wrote:

Yeah im sure the zync helped in that case.  But 2800CL with 650 and a repo.  Wow.

 

Congrats to you!

 

 

 


Hopefully that will go up significantly at x61 days CLI request

 

Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Now that Zync is gone......

I would suggest also to take a look at one of the charge cards that has no annual fee in the first year as well as a signup bonus. The signup bonus makes it worth it in my opinion to get your feet wet with amex on a charge card even if its not your ideal product .

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: Now that Zync is gone......


nicholasyud wrote:

. I check my spending limit and its went up to 4000k . You have to paid for your statement in full 15 days after statement cut.

 


$4000K is a pretty impressive credit limit!  I'm assuming you mean $4K...

Contributor
RonDawg
Posts: 322
Registered: ‎10-19-2012
0

Re: Now that Zync is gone......


nicholasyud wrote:

ccnewcc wrote:

Okay so Amex will approve you for the gold with scores of 650-675 with some negatives.

 

But they won't approve you if you don't have any revolving credit will they?

 

The gold can't be that easy.  Can it?  lol!


Im not sure how to answer your question since im kinda new to credit game too. Just reading from forum to forum. Take note and learn new thing everyday.

My credit score during approval was 675 with 2 charge off back in 2008.

i have 3 cards before i went to my apps spree which in the right hand side on my signature. Crappy One, Orchard and Credit 1. 


I think Amex based on many things on your credit not along with your credit score and stuff. I got instant approval after they verify my address. But when i call back later on at that day they told me they had to sent my application to another department for approval but i guess that's process only for credit limit which 1k on my Delta Cards.

 

Back to Post : I used to think Charge Cards is not kinda card that i looking for but after using it and instant approval for every purchase. It's make me feel like its more power than a revolver. I check my spending limit and its went up to 4000k . You have to paid for your statement in full 15 days after statement cut. I love it thou since its more control than a credit card which i had to paid my bill in full each month stay under my financial situtation  and not over charge it. Get a Green Cards....you love it......Then maybe app for Delta after approve for Green CArd. I heard you alway can PC to their BCE or other card that fit your need before the AF kick in. 

Let us know.....

 


Its always nice when that happens... I use my PRG for buying 1 dollar sodas lol and I checked mine and it said it would approve 50k lol

AMEX Platinum, AMEX Blue cash (10k), AMEX Delta (10k), US Bank Premier Line (14.5k), US Bank Cash + (7.5k), Chase Freedom (5k), Fred Meyer Rewards Visa (7.5k), US Bank Flex Perks Travel Rewards (5k), Discover IT (9.5k), Chase Sapphire Preferred (8k), Alerus Financial Visa Signature issued by Elan (10k), BofA Cash Rewards (10k), Citi Thankyou Pref (6.5k) TU FICO Score = 807, EQ FICO Score = 780, EX FICO Score = 780,
CreditKarma score = 785, CreditSesame score = 773, Vantage = 903
Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
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Re: Now that Zync is gone......


ccnewcc wrote:

CreditScholar wrote:

It really depends on what your profile is like. Green would probably be the next easiest card to qualify for, and Delta Gold is the easiest revolver to qualify for by a large margin. SPG on the other hand is one of the hardest.

 

If you have scores in the 700s, a decent income, AAoA of 2-3+ years, no recent or major derogs, and at least 1-2 cards with moderate-sized TLs (5k or higher), getting an Amex revolver without a charge card isn't too difficult. If your scores are under 700, you might be better off applying for the green first. There are also reports of people getting a Delta gold with ~680 FICO.


Easier than the blue cards?  Blue, sky and Cash?

 

Why would this be?  cuz of the AF?


Yes, easier than all of those. The reason has to do with the cost to actually give you those points.

 

Delta miles are worth less than any other US legacy carrier (UA, AA, US and AL), hence why they're sometimes referred to as SkyPesos. The value of each DL mile is around 1 cpm, whereas UA miles are commonly valued at close to 2 cpm. Amex purchases these in bulk, so my guess is they're not paying more than half a cent each. Given the miles are so cheap to give away, plus the AF on the Delta card, means that they can be more lenient on approvals. The risk/cost for them is fairly low, and I'm sure this is built into the underwriting standards for that card. Each transaction they're making about 3% for a swipe fee, but are only paying out 0.5% in rewards.

 

Compare this to the SPG, with points that are commonly valued at ~2.3 cpp. With the same swipe fee of ~3%, they're only making 0.7 cents per dollar compared to Delta gold's 2.5 cents per dollar. Since their profit margins are much lower, they can't afford as many defaults. Thus, the approval criteria for the SPG card is higher.

 

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J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
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webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: Now that Zync is gone......

Rondawg is making me have app itch for PRG to buy $1 sodas. :smileysad:

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Valued Contributor
improvingmycredit
Posts: 1,384
Registered: ‎07-12-2011
0

Re: Now that Zync is gone......


CreditScholar wrote:

ccnewcc wrote:

CreditScholar wrote:

It really depends on what your profile is like. Green would probably be the next easiest card to qualify for, and Delta Gold is the easiest revolver to qualify for by a large margin. SPG on the other hand is one of the hardest.

 

If you have scores in the 700s, a decent income, AAoA of 2-3+ years, no recent or major derogs, and at least 1-2 cards with moderate-sized TLs (5k or higher), getting an Amex revolver without a charge card isn't too difficult. If your scores are under 700, you might be better off applying for the green first. There are also reports of people getting a Delta gold with ~680 FICO.


Easier than the blue cards?  Blue, sky and Cash?

 

Why would this be?  cuz of the AF?


Yes, easier than all of those. The reason has to do with the cost to actually give you those points.

 

Delta miles are worth less than any other US legacy carrier (UA, AA, US and AL), hence why they're sometimes referred to as SkyPesos. The value of each DL mile is around 1 cpm, whereas UA miles are commonly valued at close to 2 cpm. Amex purchases these in bulk, so my guess is they're not paying more than half a cent each. Given the thmilestone are so cheap to give away, plus the AF on the Delta card, means that they can be more lenient on approvals. The risk/cost for them is fairly low, and I'm sure this is built into the underwriting standards for that card. Each transaction they're making about 3% for a swipe fee, but are only paying out 0.5% in rewards.

 

Compare this to the SPG, with points that are commonly valued at ~2.3 cpp. With the same swipe fee of ~3%, they're only making 0.7 cents per dollar compared to Delta gold's 2.5 cents per dollar. Since their profit margins are much lower, they can't afford as many defaults. Thus, the approval criteria for the SPG card is higher.

 


+1

also- the Delta card is a co-branded card where as the BCP/BCE line of cards are solely underwritten by Amex for Amex.  It's their premier line.  My understanding is that the co-branded cards are also given to the requested lending standards of the company the cards is branded for- ie... Delta wishes to have it's cards more accessible to more individuals.  


Starting Score: 642
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Valued Contributor
Duncanrr
Posts: 2,843
Registered: ‎06-08-2012
0

Re: Now that Zync is gone......

$25 free bag checkin and priority boarding - enough of a reason to get delta card if you take 2 round trips a year. I would apply for charge card you want, doesn't matter which one as the underwriting criteria are the same, and app for delta card immediately afterward.

If your lucky you will get both cards one one HP.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
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WhiteCollar
Posts: 309
Registered: ‎04-07-2012
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Re: Now that Zync is gone......

Thanks for all the input. Let's circle back to the OP. I stated I'M NOT A FAN OF CHARGE CARDS, just never saw the point in having one and my dream card is the Costco TE. However, I'm concerned about getting approved because I've heard it has strict underwriting criteria. I thought of the Delta Gold becuase  I've heard they are more lienant with approvals  and after 1year you can PC change. 


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