Reply
Contributor
Kr33ker
Posts: 143
Registered: ‎04-11-2012
0

So $500 Zync cannot be converted to NPSL?

I've had my Zync since may and researching about converting it to NPSL, but it seems as though that is not possible? My credit profile has increased greatly since I was approved in May, and thought it would be very easy to do...

 

What are my options? I really don't need the NPSL right now, but it would nice to have in case of an emergency.

IT (11500 CL), Freedom (5000 CL), Zync (500 CL), PFCU (500 CL)

Starting Score: 699 EQ (4/11/12)
Current Score: 761 EQ (8/15/12)
Goal Score: 800+ EQ
Valued Contributor
trumpet-205
Posts: 2,494
Registered: ‎11-11-2010
0

Re: So $500 Zync cannot be converted to NPSL?

AFAIK $500 limit cannot be removed.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Contributor
Kr33ker
Posts: 143
Registered: ‎04-11-2012
0

Re: So $500 Zync cannot be converted to NPSL?


trumpet-205 wrote:

AFAIK $500 limit cannot be removed.


I don't understand why they would put this restriction in...

 

Can I apply for a new Zync with a SP, and then cancel my current Zync?

IT (11500 CL), Freedom (5000 CL), Zync (500 CL), PFCU (500 CL)

Starting Score: 699 EQ (4/11/12)
Current Score: 761 EQ (8/15/12)
Goal Score: 800+ EQ
Frequent Contributor
koalablue
Posts: 345
Registered: ‎05-23-2012
0

Re: So $500 Zync cannot be converted to NPSL?

Maybe just apply for a green or gold charge, or even for a revolver?  For the PRG, they waive the fee for the first year I believe.

Contributor
Kr33ker
Posts: 143
Registered: ‎04-11-2012
0

Re: So $500 Zync cannot be converted to NPSL?


koalablue wrote:

Maybe just apply for a green or gold charge, or even for a revolver?  For the PRG, they waive the fee for the first year I believe.


If I was going to apply for another AMEX right now, I would apply for the BCE. For me, I really can't see how a charge card would benefit me over a revolver.

 

Are all applications for AMEX soft-pulls if you are already a member?

IT (11500 CL), Freedom (5000 CL), Zync (500 CL), PFCU (500 CL)

Starting Score: 699 EQ (4/11/12)
Current Score: 761 EQ (8/15/12)
Goal Score: 800+ EQ
Valued Contributor
trumpet-205
Posts: 2,494
Registered: ‎11-11-2010
0

Re: So $500 Zync cannot be converted to NPSL?

[ Edited ]

Kr33ker wrote:

Can I apply for a new Zync with a SP, and then cancel my current Zync?


You cannot apply a new Zync. AMEX no longer accepts application for Zync.

 

For AMEX cardholder, SP for denial and HP for approval. Be prepared for 3 HPs if you are borderline approval.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Frequent Contributor
koalablue
Posts: 345
Registered: ‎05-23-2012
0

Re: So $500 Zync cannot be converted to NPSL?

I would give the BCE a shot.  As the other poster said, its a SP if you're denied.

Valued Contributor
j_casteel
Posts: 1,906
Registered: ‎06-21-2012
0

Re: So $500 Zync cannot be converted to NPSL?

Zync 500 stays 500 and will not be changed. Many people accepted the card thinking otherwise (including myself) but that is not the case. Search the plethora of threads created concerning this topic.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board
Contributor
Kr33ker
Posts: 143
Registered: ‎04-11-2012
0

Re: So $500 Zync cannot be converted to NPSL?


j_casteel wrote:

Zync 500 stays 500 and will not be changed. Many people accepted the card thinking otherwise (including myself) but that is not the case. Search the plethora of threads created concerning this topic.


It doesn't even make sense, so that thought didn't even cross my mind back when I was approved.

 

 

Regarding applying for the BCE now, I may hold off for a better offer.

IT (11500 CL), Freedom (5000 CL), Zync (500 CL), PFCU (500 CL)

Starting Score: 699 EQ (4/11/12)
Current Score: 761 EQ (8/15/12)
Goal Score: 800+ EQ
Valued Contributor
j_casteel
Posts: 1,906
Registered: ‎06-21-2012
0

Re: So $500 Zync cannot be converted to NPSL?


Kr33ker wrote:

j_casteel wrote:

Zync 500 stays 500 and will not be changed. Many people accepted the card thinking otherwise (including myself) but that is not the case. Search the plethora of threads created concerning this topic.


It doesn't even make sense, so that thought didn't even cross my mind back when I was approved.

 

 

Regarding applying for the BCE now, I may hold off for a better offer.


it was a counter offer if you were denied the NPSL card. the terms stated the limit, etc and after talking with several CSRs including the EO of AMEX it was clear that this card was for questionable/subprime people and was never going to be upgraded to NPSL.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}