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So when the time comes and I want to apply for another charge card to get the NPSL. Should I just apply for the Zync again or should I just go for the card I really want and will benefit me much more? (PRG)
Will I need to close the Zync I have now before being able to apply for another Zync if I go that route? I think I may have a good chance at getting a NPSL now the reasons for denial the last time I tried were due to lates and a collection which I've gotten removed. I'm still going to wait to apply, but trying to figure out what i should do.
thanks,
John
9/10/12 Update:
So I spoke 2 different rep's at AMEX.
My app was denied for the PRG due to the same reasons as last time. I app'd yesterday, but they are using a SP from 8/25/2012 which is before EX updated to report several negatives being removed.
So they told me my options are:
1. Send it to further review which will be a HP regardless of approval or not.
2. Fax my EX report showing the updates with the negatives removed and they will request it to be reviewed without a HP, but its not guaranteed and it may need to be HP anyway.
3. Just wait another month or so and app again.
What do you all suggest doing?
Also, they did say my EX FICO was still the same ~650 with their last SP 8/25/12 so hopefully the next time it will be better with those items removed.
I would never apply for a card that I didnt really want. Ive gathered that its not unheard of to get rid of ther hard limit.
@DVH1980 wrote:I would never apply for a card that I didnt really want. Ive gathered that its not unheard of to get rid of ther hard limit.
It is unheard of....the $500 hard limit Zync is set that way. To get the NPSL you either have to apply for another Zync, etc.
Don't get me wrong; I like the Zync and have been using it like crazy, but with the $500 hard limit I have to make several payments a month sometimes a week. The PRG just offers more benefits for the things I buy. I have several packs on my my Zync and earn points but not like the PRG would. I know its not good to apply for something you don't really want, but getting the NPSL is more beneficial to me than having a $500 hard limit.
@DVH1980 wrote:I would never apply for a card that I didnt really want. Ive gathered that its not unheard of to get rid of ther hard limit.
Does anyone really want to AP for a secured credit card? Probably not but its a step in the credit journey, The Zync is the get your foot in the door with AMEX, if the OP woiuld of waited for an AMEX PRG he would of had 6-12 months of waiting while blowing his chance of a 2012 member date.
@j_casteel wrote:So when the time comes and I want to apply for another charge card to get the NPSL. Should I just apply for the Zync again or should I just go for the card I really want and will benefit me much more? (PRG)
Will I need to close the Zync I have now before being able to apply for another Zync if I go that route? I think I may have a good chance at getting a NPSL now the reasons for denial the last time I tried were due to lates and a collection which I've gotten removed. I'm still going to wait to apply, but trying to figure out what i should do.
thanks,
John
Since you've already gotten your foot in the door w/Zync and the reasons for denial have been corrected, I would app for the PRG that you want. As another poster stated, it will only be a HP if you're approved, so you have nothing to lose.
If your Zync is recent, then you're not benefitting from backdating at this point, so you might want to close your Zync if you get approved for PRG and don't really care for the Zync rewards.
If you don't get approved for PRG, try calling CS and asking them if they can remove the limit on Zync. I haven't read about that happening much, but if the reasons for the hard limit have been corrected, I would tell them that and see if they'll remove the limit.
I thought the $500 hard limit Zync usually changed to a NPSL card after 6 or so months of use.
@charyot77 wrote:I thought the $500 hard limit Zync usually changed to a NPSL card after 6 or so months of use.
No, as far as we've been able to determine it never, ever gets removed. You're effectively stuck opening another charge card if you want NPSL.
I have to figure that's going to change in the future, but it appears to be Amex's policy now though admittedly I really don't understand it.