I would also keep in mind that the Zync has an AF. It also only earns Membership Rewards Express points, which aren't as versatile or valuable as normal Membership Rewards points.
The rewards are pretty basic at 1 point per $1 in spend if you don't select packs to keep the AF to the minimum of $25 (the eco pack is free and will give you 2x points at eco-friendly businesses which you can look up on their site, I wasn't impressed with the selection, but if you shop at Whole Foods alot or something...). The extra packs also cap out at $5000 spend for $20-$25 a piece, leaving you with about $50 in extra rewards (if you value points at $0.01, not always the case) and that is before the extra extra $20-$25 AF (net gain $25-$30, you can do better).
Of course, one cannot put a price on the prestige and backdating of American Express (there is a hint of sarcasm there. Of course, I'm not immune to those effects by any means)
Basically, there are plenty of credit cards with no AF with much better rewards.
The Citi Forward card has a normal and college version. Both offer great rewards, especially for young people (1 ThankYou point on purchases, 5x at Restaraunts, Music Stores, Movies, Video Rental, and Book Stores). The Non-College version has some better sign-up bonuses and a 0% Balance Transfer promo, but otherwise they both have some cool other features which you can check out.
There is a thread about someone who got approved for the Citi Forward for College Students with a limited/no credit history as well:
http://ficoforums.myfico.com/t5/Credit-Cards/Approved-for-Citi-Forward-No-Credit-History/td-p/879398
so that might be a good option.
Chase has the Freedom card with 1% on all purchases and 5% in rotating quarterly categories. It was my absolute first credit card ($500 limit to start) and I got it when I signed up for a checking and savings account with them (in 2008, their practices may have changed). It might be worth checking out, especially if you have a banking relationship with them.
There are of course many other options, so do your research, but I think that the above are two great cards that you might want to consider.
Of course, if you don't need a card you don't have to/shouldn't get one. These boards can sometimes confuse you on that matter.
However, if you think you can be responsible, and you want to take advantage of rewards, feel free to give it a try.
