Reply
Established Contributor
YahComb
Posts: 599
Registered: ‎03-10-2012
0

Re: Will Amex change their no upgrading from Zync policy

I think you should take most things told to you by the frontline reps with a grain of salt.  Just because they say things with an air of confidence and certainty does not mean they aren't misinformed. Just look at nerdwallet and that whole Citi Forward Amazon points fiasco.

 

 

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
0

Re: Will Amex change their no upgrading from Zync policy


shakalaka wrote:

Well I guess there is something in their card agreements, which would enable them to cancel the cards. But at the end of the day, they also want to do business. So at least if you use the card, they will offer us something (I hope).

 

But on the other side, if someone has a $500 limit and only spends about $100/months or so, they may not be interested in keeping this business ...


+1. The Zync will be around for awhile, and then after that the decently profitable Zync cardholders may be transitioned to another product. People with $200/$500 hard limits will probably be dropped altogether, since the discontinuation gives Amex the perfect excuse to dump their garbage cardholders who aren't worth their time.
FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Regular Contributor
charyot77
Posts: 237
Registered: ‎06-21-2010
0

Re: Will Amex change their no upgrading from Zync policy


CreditScholar wrote:

shakalaka wrote:

Well I guess there is something in their card agreements, which would enable them to cancel the cards. But at the end of the day, they also want to do business. So at least if you use the card, they will offer us something (I hope).

 

But on the other side, if someone has a $500 limit and only spends about $100/months or so, they may not be interested in keeping this business ...


+1. The Zync will be around for awhile, and then after that the decently profitable Zync cardholders may be transitioned to another product. People with $200/$500 hard limits will probably be dropped altogether, since the discontinuation gives Amex the perfect excuse to dump their garbage cardholders who aren't worth their time.

"Creditscholar" is there a particular reason why all of your posts are so condescending? :smileyfrustrated:

 

We get it. You have never had bad credit and everything is easy for you.  Wonderful!

Some people here were irresponsible in the past with their credit. Others tried their best but got hit by life. This being a forum about FICO scores...I would expect there to be a lot of posters who care about their credit score and either want to improve it or monitor it. 

 

I dont understand your need to quickly chime in and let people know how easy it is to get an AMEX or Chase Saphirre/JPM Select card if you have never screwed your credit  up on a board where obviously a lot of people are rebuilding from past issues.  

 

Sometimes I get annoyed at posters on this forum who aren't patient enough to let baddies or new accounts age. I also hate it when posters ruin a good thing (Cap One Exec Office, PSECU) or when people who just filed for BK are desperate to get large limits again right away like nothing happened. However, what I love about this board is how supportive and knowledgeable people are.  So I tend to find your posts rather out of place.  

 

I'm sure you think you're providing wonderful insight and a needed dose of reality.  To me, however, it comes across as little more than credit elitism.

 

AMEX is a smart company and one of the world's most admired brands. I doubt they would ever knowingly take in "garbage cardholders" as you so eloquently put it.  I'm sure there are Centurion "garbage cardholders" with large bank accounts and wonderful credit profiles that they end up having to dump (like Courtney Love, "Garbage" literally and figuratively).

Senior Contributor
jsucool76
Posts: 3,751
Registered: ‎12-11-2011
0

Re: Will Amex change their no upgrading from Zync policy

I dont think it was meant to be an insult, but amex is known widely for being the "pinmacle" of the credit world, even if other lenders have better cards. People just see amex and immediately think they are the best.

The post seemed less about CreditScholar calling those with hard limits garbage, and more explaining about how amex sees those with the limits. To be completely honest,with a 200/500 card amex really isn't making that much money, and it is tarnishing their image.

It doesn't say anything about the cardholders, but amex isn't for everyone, that is how they got so widely known.
;
Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
0

Re: Will Amex change their no upgrading from Zync policy

[ Edited ]

Zync was meant to bring in a new generation of AMEX card members, mostly college age (and in college), it didn't do that up to percentage like they expected during it's run.  Instead they no doubt noticed a higher percentage of applicants for Z doing so for rebuilding reasons instead.  It was going to bring in long term "replacements" for card members they were losing (fresh blood, not recycled).

 

I have to add a bit of info.   Being I was just on my account page this morning, I realized something while reading this thread, my Z was a year old in Sept, there's no charge for the AF so far on my account......   Anyone else notice this or know when the AF is charged, the month of approval or the following?

 

Checking my old (first statement for Z) my AF was originally billed on the statement closing date (I prepaid it so it never reported that balance).   Maybe I have to wait until mid OCT to see that charge?

 

[EDIT]:  Considering there's concern surrounding issues about if an account is a hard limit or NPSL,  I should add that my Z was NPSL out of the gate.  A friend has a 250 HL and I hope this doesn't affect him somehow (I recommended the Z to him but he has yet to be able to get it BD'd in 10 months).

Established Member
rosegardener
Posts: 54
Registered: ‎08-10-2012
0

Re: Will Amex change their no upgrading from Zync policy


charyot77 wrote:

CreditScholar wrote:

shakalaka wrote:

Well I guess there is something in their card agreements, which would enable them to cancel the cards. But at the end of the day, they also want to do business. So at least if you use the card, they will offer us something (I hope).

 

But on the other side, if someone has a $500 limit and only spends about $100/months or so, they may not be interested in keeping this business ...


+1. The Zync will be around for awhile, and then after that the decently profitable Zync cardholders may be transitioned to another product. People with $200/$500 hard limits will probably be dropped altogether, since the discontinuation gives Amex the perfect excuse to dump their garbage cardholders who aren't worth their time.

"Creditscholar" is there a particular reason why all of your posts are so condescending? :smileyfrustrated:

 

We get it. You have never had bad credit and everything is easy for you.  Wonderful!

Some people here were irresponsible in the past with their credit. Others tried their best but got hit by life. This being a forum about FICO scores...I would expect there to be a lot of posters who care about their credit score and either want to improve it or monitor it. 

 

I don't understand your need to quickly chime in and let people know how easy it is to get an AMEX or Chase Saphirre/JPM Select card if you have never screwed your credit  up on a board where obviously a lot of people are rebuilding from past issues.  

 

Sometimes I get annoyed at posters on this forum who aren't patient enough to let baddies or new accounts age. I also hate it when posters ruin a good thing (Cap One Exec Office, PSECU) or when people who just filed for BK are desperate to get large limits again right away like nothing happened. However, what I love about this board is how supportive and knowledgeable people are.  So I tend to find your posts rather out of place.  

 

I'm sure you think you're providing wonderful insight and a needed dose of reality.  To me, however, it comes across as little more than credit elitism.

 

AMEX is a smart company and one of the world's most admired brands. I doubt they would ever knowingly take in "garbage cardholders" as you so eloquently put it.  I'm sure there are Centurion "garbage cardholders" with large bank accounts and wonderful credit profiles that they end up having to dump (like Courtney Love, "Garbage" literally and figuratively).


+1

 

Like many other Zync cardholders, I am very curious to see what is done with the card.  Creditscholar, your point that Amex may decide us hard limit holders are not worth their time is a valid supposition, as are the other suppositions that they will keep it open, product change us all, etc.  However your post is threaded with condescension regarding the hard limit cards, as are a few other posts I have seen in the Zync threads lately, and that is really disheartening.  If we were all garbage, Amex wouldn't have taken us.  If it was a garbage card, they would hand it out to the raccoons playing in the dumpsters.  I don't see where being offered the chance to be a part of the Amex family and being responsible with it is' tarnishing their image' (as another poster in a different thread stated)

 

 

I enjoy my Zync, and personally don't care if the hard limit is ever removed.  If I want a higher line from Amex, I will simply apply for a different card when I feel the time is right, my utilization is appropriate, and my scores meet Amex's criteria.  If in the meantime Amex dumps the hard limit crowd, so be it.  Other fish in the sea and I've got other tradelines to tend to and garden.

 

While the Amex threads are very informative and yes, the possibility of the hard limit crowd getting the boot (and where to go from there if that happens)  DOES need to be considered, can we do it without the looking down of noses and condescension, please?  It isn't only you, so please don't feel that you're being singled out.  This post just happened to shove me over the edge of saying something.  We all had to start somewhere in rebuilding.  If we didn't, we wouldn't be here.  A hard limit Zync is part of that for many of us.    Good advice and tough love (I'm looking at you, Appbar threads) is part of this forum, deriding cardholders isn't.

 

Off the soapbox and back to lurking.

 

In the wallet: USAA MC $4k, Citi Expedia MC $2k, Discover More $1k, Zync $500, American Eagle $1.9k, Amazon Store $1.5k, Lowes $1k, Belk $1.4k, Macy's $500, Abercrombie $350, VS $350
Score: 702 (Discover approval 08/03)
Goal: 800 Club
Picking up my intro spade and stepping in the garden. Let's grow some pretty roses!
Regular Contributor
jm00ser
Posts: 156
Registered: ‎07-11-2012
0

Re: Will Amex change their no upgrading from Zync policy

Ryvision,

 

I too hit my 1 year in Sept with Zync, however, they did charge the annual fee and my restaraunt pack fee!

In full gardening/ debt annihilation mode! (4/15/13)
Notre Dame FCU Visa 0/2k (8/04); CapOne Best Buy 800/1.5k (7\06)
Citi Thank You World MC 4800/9.7k (1/11); Amex Zync NPSL (9/11)
Chase Freedom Visa 1600/3.8k (9/11); Chase Southwest RR Premier Visa Signature 4300/10.7k (6/12); Discover It 0/3k (7/12)
EQ: 751 (4/1/13) EX: 742 (4/8/13) TU: 732 (4/8/13)

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+
}