I'm interested in opening an account with American Express (ZYNC). I know it might still be a while before I clean things up enough to be considered but I'd like to make a goal of this. What kind of FICO scores and other criteria will I need to pass for acceptance?
I just found some info on another site that lists credit cards and the average score that netted success. Reported as 692 for AmEx Zync.
According to **AHEM** that site **AHEM**, here are the easiest to qualify for by score alone:
Starwood Preferred Guest Credit Card from American Express - 681+
American Express Rewards Green - 691+
American Express ZYNC - 692+
Just remember that AmEx has its own inhouse scoring system, using an EX report. Back when we could pull our EX FICO scores, there was sorta-kinda a correspondence between FICO scores and AmEx success. Now it's more of a crapshoot.
Posted scores these days, whether FICO or FAKO, are not a good predictor of AmEx success.
If you're trying to get in with AmEx, just give a long, cold stare at your Experian report, the kind that a total stranger might give. (As opposed to your mom, who might cut you some slack.) They don't like BK's, unpaid collections, and other signs that you might run out on your obligations to your creditors. If you ever burned them in the past, be prepared to repay.
Otherwise, if you're wiling to pony up the annual fee (we're talking the charge cards here), you can probably get in. The weaker and/or shakier your EX report, the more likely that they will keep you on a short lease until you show that you're not a complete chucklehead.
Also, if there's anything odd on your EX report, like addresses off by one digit, or your EX report is "thin" (not much of anything reporting), do realize that they might well pull the other two reports as well. They want to know who they're dealing with.
I * puffy heart * American Express, and I've never had a moment's worth of problems with them, but IMO, their rewards are pretty lame, unless you're in that group of frequent flyers/ frequent diners/ frequent hotelers. (Except for the Costco card, which is semi-OK.) But their CS is great, and the backdating deal is something that no one else has. If I were 22 and looking for a card, you can bet that I'd get an AmEx of some description, just so I could nail down that opening date.
And for all you 22-year-olds who now have a Zync and you're jonesing for a Green or Gold or Plat or whatever, try to remember that there's no hurry. They've been around longer than you have. You can wait. Paying a big chunk of change for what, a piece of plastic? That might not seem that interesing 11 months from now. There's no telling what CC offers will be floating around then.
But in the meantime, if you fall on hard times (and I grieve for the current generations of 20-somethings and the world that they're facing), try to stay current on this one. AmEx is a keeper in credit land, so make them happy. 