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Valued Contributor
j_casteel
Posts: 1,697
Registered: ‎06-21-2012

UPDATE: $500 Zync but want NPSL...

[ Edited ]

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.

| Walmart $5k | Amazon $5k | NFCU $19.5k | NavChek $15k | Lowes $15k | BoA WMC $8.1k | Freedom $3k | Discover $4k | CSP $5k |
Starting Score: EQ:571 EX:??? TU:597
Current Score: EQ:686 EX:706 TU:698
Goal Score: 700
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Contributor
DVH1980
Posts: 245
Registered: ‎08-24-2011

Re: $500 Zync but want NPSL...

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.

My wallet:
***Amex BCE 3k***USAA Platinum Visa 12k***Barclays Apple 7500k***Veridian CU 10k***Discover It 10k***Bank of America 8k***Amex Zync***USAA Patinum MC 12k***Navy Federal 20k
Valued Contributor
j_casteel
Posts: 1,697
Registered: ‎06-21-2012

Re: $500 Zync but want NPSL...


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.

| Walmart $5k | Amazon $5k | NFCU $19.5k | NavChek $15k | Lowes $15k | BoA WMC $8.1k | Freedom $3k | Discover $4k | CSP $5k |
Starting Score: EQ:571 EX:??? TU:597
Current Score: EQ:686 EX:706 TU:698
Goal Score: 700
across the board
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: $500 Zync but want NPSL...

What's on your ex file currently?



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
jamesdwi
Posts: 1,431
Registered: ‎09-16-2011

Re: $500 Zync but want NPSL...


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. 

Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011

Re: $500 Zync but want NPSL...

Being you are already an AMEX member, I would leave the Zync card open. I would apply for the PRG. If you get declined it will only be a SP since you are a member. In other words it won't hurt anything. Apply again later if it's a no go. It will be a HP if you are approved which I'm sure you won't mind. Once approved, close your Zync. They will then refund your account prorated for any AFs you Paid on the Zync. You wouldn't have this luxury if you closed your account and were no longer an AMEX member. Let us know how it goes. Good luck!!
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Established Contributor
laboi_22
Posts: 634
Registered: ‎07-07-2011

Re: $500 Zync but want NPSL...

Oh not to mention you get a free FICO with the SP if declined!
Current Scores: EX - 728 FICO (5/11/13) TU - 771 FICO (7/02/13) EQ ??

Current Cards: Chase Freedom $5,000, CSP $5,700, BofA Visa Signature $15,000, AMEX BCE $6,000, Walmart $4,150, Gap Visa $10,000, JC Penny $5,800, Lowes $8,500, Dillard's AMEX $8,000, AMEX Hilton HHonors - $2,000, Chase United $12,000, Citi AAdvantage & Simplicity $6,000/$6,000, SPG AMEX $1,000
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011

Re: $500 Zync but want NPSL...


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.

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Regular Contributor
charyot77
Posts: 235
Registered: ‎06-21-2010

Re: $500 Zync but want NPSL...

I thought the $500 hard limit Zync usually changed to a NPSL card after 6 or so months of use.

Moderator
Revelate
Posts: 8,334
Registered: ‎12-30-2011

Re: $500 Zync but want NPSL...

[ Edited ]

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.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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