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Should I close my Zync with $500 limit

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Anonymous
Not applicable
‎03-18-2013 09:39 AM
‎03-18-2013 09:39 AM

Should I close my Zync with $500 limit

I got approved for PRG and Platinum last week . I love them both and have sock drawered my Zync with $500. I just don't know if I should keep it open or close it. It doesn't affect my Utilization as it's a charge card. 

 

Should I just close this Zync now?

Should I close after Platinum/PRG get reported on my credit?

Should I leave it open?

Message 1 of 14
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13 REPLIES 13
CruzImperial
Established Contributor
‎03-18-2013 09:41 AM
‎03-18-2013 09:41 AM

Re: Should I close my Zync with $500 limit

I would close it. It's been said that having a Zync with a hard limit affects your chances of getting a revolver card from Amex.
Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 2 of 14
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waihao0405
Established Member
‎03-18-2013 09:45 AM
‎03-18-2013 09:45 AM

Re: Should I close my Zync with $500 limit

I would close it since it has an annual fee on it and it's kinda the same as the PRG.
but if it's ur oldest account. it'll effect ur aaoa
Message 3 of 14
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jamesdwi
Valued Contributor
‎03-18-2013 09:59 AM
‎03-18-2013 09:59 AM

Re: Should I close my Zync with $500 limit

Closing any card whether it be your oldest or your newest won't effect your AAoA for at least 10 years. Closed cards continue to be reported for 10 years. And are used in calculating your AAoA.

 

 

Cards: Chase Southwest 20k & CSR 17k & CSP 10k & FNBO 30k Oregon Duck 5k, & AMEX BCP 32.5k & Amex Magnet 15k&amg; Hilton Surpass 7.5k & Delta Gold 12k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 20k, Paypal Extras MC 10k, Paypal Credit 7.25k CapOne Venture 15k, QS 2.5k, QS 750, Amazon 10k, Walmart 10k, Citi Simplicity 18k, Discover IT 23k and a nice stack of store cards.
Landmarkcu Personal Loan 10k
Message 4 of 14
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Anonymous
Not applicable
‎03-18-2013 10:47 AM
‎03-18-2013 10:47 AM

Re: Should I close my Zync with $500 limit

Sweet! then Zync is going to hell.

 

BTW should I wait for my new cards to report b4 i close zync or it doesn't matter?

Message 5 of 14
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waihao0405
Established Member
‎03-18-2013 10:18 PM
‎03-18-2013 10:18 PM

Re: Should I close my Zync with $500 limit

I would keep it until the next annual fee hit..

Message 6 of 14
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FinStar
Moderator Emeritus
‎03-18-2013 10:35 PM
‎03-18-2013 10:35 PM

Re: Should I close my Zync with $500 limit

@waihao0405 wrote:

I would keep it until the next annual fee hit..

+1

 

Ultimately your preference - yet who'd want to part ways with the AMEX "white unicorn"  lol.

Message 7 of 14
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CreditScholar
Valued Contributor
‎03-18-2013 10:52 PM
‎03-18-2013 10:52 PM

Re: Should I close my Zync with $500 limit

@FinStar wrote:
@waihao0405 wrote:

I would keep it until the next annual fee hit..

+1

 

Ultimately your preference - yet who'd want to part ways with the AMEX "white unicorn"  lol.

+2. I'd close it before the next AF, but until then there's no penalty for keeping it open perse.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 8 of 14
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j_casteel
Valued Contributor
‎03-19-2013 01:56 AM
‎03-19-2013 01:56 AM

Re: Should I close my Zync with $500 limit

whoa, someone with a $500 hard limit Zync got approved for another AMEX without first closing the Zync!?!

Learning from my past and rebuilding..

BK discharged 1/10/17
scores: EQ 659 | TU 630 | EX 659

QS 3.8K | WF 500 | Cabela's 3k | ACU 500 |

Message 9 of 14
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Anonymous
Not applicable
‎03-19-2013 05:50 AM
‎03-19-2013 05:50 AM

Re: Should I close my Zync with $500 limit

@j_casteel wrote:

whoa, someone with a $500 hard limit Zync got approved for another AMEX without first closing the Zync!?!

Yes PRG and Platinum both on same day and on 1 Inquiry.

 

 Now ur next question would be why do I need 2 charge cards lol

 

Message 10 of 14
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