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Regular Contributor
dude11
Posts: 237
Registered: ‎06-07-2011
0

Re: Will zync really hold me back??


jd5189 wrote:

dude11 wrote:

It seems a lot of people here assume things and then make statements like if they are true. Personally I don't think the Zync with a hard limit will hold you back. I have a Zync with a $500 limit for 18 months and I have applied for their revolver and charge products and I have never been denied due to having the Zync with a hard limit.

 

I do agree that if you were given a Zync with a hard limit you obviously did not meet Amex's standard qualifications and maybe this Zync with a hard limit was probably an expirement. But I do believe as long as you keep it in good standing you should qualify for another Amex charge or revolver as long as you give it time and depending on your credit report. Not many people here that have Zync's with hard limits have had them for a long time to say you have to close the card to be approved for something better. I guess time will tell.

 

Just my 2 cents.


Not to call you out or anything... but did you not just post these a couple months ago?


dude11 wrote:

Mine has been stuck like this for 18 months. I just applied this morning for the Green and was denied. I have been making multiple payments a month on the Zync and charging more than $500. So don't think that after a certain period you will be approved for another card even charge from them. I guess it just all depends whether they want to or not.

 

I also assumed that after having this card for over 1 year I should at least be able to get another charge card as people say they tend to be easier to get. I don't have any BKs on my reports but I do have some negatives.



dude11 wrote:

HenryJumbo is right. I've had the Zync for 18 months and I still can't get a Amex revolver nor another charge card. I used to charge all of my daily expenses and utility bills to it and pay several times a month. I have stopped using it as the begining of this month and am currently thinking of closing it come to 2nd year anniversary in Feb of next year. So having a relationship does not mean 12 months down the road you will get another card from them or whatever.


So, I am a little confused as to when you got revolvers and or another charge card? Has it been within the last 2 months since you last post about not being able to get any other card? Other members have called Amex CSR's and the CSR's distinctly called out that hard limits will not be removed and any Zync holder with a hard limit cannot app for a new card until they no longer have the Zync with a hard limit. So, if you could just enlighten us as to when you applied for these new cards? What were you scores? Did you cancel the Zync? What was your CL on the revolver? Because, at this point, I think you are the only one that has supposedly gotten any further with Amex with a hard limit on their Zync.


Don't see where I mentioned getting another charge card or revolver. I have applied within the last 4-5 months different times for the green, gold, and BCE and have always been denied. Never because of my current Zync with hard limit. When I applied for these cards my scores were somewhere in the low-mid 600s. As I stated I still have my Zync with the hard limit that has not been removed nor upped. I have stopped using it however since I have received a credit card from my local credit union that works better for me.

However I used to have a revolver Blue from Amex back in 07 which unfortunately was charged off. However that was paid back in full a year later. Once again, never did I say I got my zync with the hard limit removed for been approved for another Amex yet.

Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
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Re: Will zync really hold me back??


TheConductor wrote:

My interpretation of things is that the hard limit will probably set you back significantly but not hold you back completely.

 

As one person reported in the other thread, they were told that their internal risk score was too low because of the hard limit Zync. Which says to me that the internal risk score is the reason for the denial, not the having of the HL Zync. The HL Zync was merely a factor that caused the score to be too low.

 

That does leave the door open to the possibility that if enough other things in your credit report, history with AmEx, income, etc. look good to AmEx, you could still score high enough to achieve a different AmEx without closing the HL Zync.

 

But we don't really have enough information to say that for certain.  We have things like dude11 saying "I have a Zync with a $500 limit for 18 months and I have applied for their revolver and charge products and I have never been denied due to having the Zync with a hard limit." ...but what I believe dude11 is not adding is "I was denied, just not for that reason."  Am I right about that, dude, or did you get approved?

 

Just because a reason isn't stated, that doesn't mean it wasn't a factor.

 

To really know for certain, we need someone who can say "I had the $500 limit Zync, applied for another AmEx, and was approved!"  Until we get a verifiable story of that sort, it's all guesswork.


But... dude11 in other replies to posters did say that he was denied both for other charges and revolvers in the past...  but is now saying he NEVER was denied... so...... I'm trying to make light of that....

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Regular Contributor
dude11
Posts: 237
Registered: ‎06-07-2011
0

Re: Will zync really hold me back??


jd5189 wrote:

TheConductor wrote:

My interpretation of things is that the hard limit will probably set you back significantly but not hold you back completely.

 

As one person reported in the other thread, they were told that their internal risk score was too low because of the hard limit Zync. Which says to me that the internal risk score is the reason for the denial, not the having of the HL Zync. The HL Zync was merely a factor that caused the score to be too low.

 

That does leave the door open to the possibility that if enough other things in your credit report, history with AmEx, income, etc. look good to AmEx, you could still score high enough to achieve a different AmEx without closing the HL Zync.

 

But we don't really have enough information to say that for certain.  We have things like dude11 saying "I have a Zync with a $500 limit for 18 months and I have applied for their revolver and charge products and I have never been denied due to having the Zync with a hard limit." ...but what I believe dude11 is not adding is "I was denied, just not for that reason."  Am I right about that, dude, or did you get approved?

 

Just because a reason isn't stated, that doesn't mean it wasn't a factor.

 

To really know for certain, we need someone who can say "I had the $500 limit Zync, applied for another AmEx, and was approved!"  Until we get a verifiable story of that sort, it's all guesswork.


But... dude11 in other replies to posters did say that he was denied both for other charges and revolvers in the past...  but is now saying he NEVER was denied... so...... I'm trying to make light of that....


As I stated I was never denied due to the fact that I had a Zync with a hard limit. At least that was never listed on my denial letters. The factors have been derogatory listings I have from the past and utilization.

Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
0

Re: Will zync really hold me back??


dude11 wrote:

jd5189 wrote:

dude11 wrote:

It seems a lot of people here assume things and then make statements like if they are true. Personally I don't think the Zync with a hard limit will hold you back. I have a Zync with a $500 limit for 18 months and I have applied for their revolver and charge products and I have never been denied due to having the Zync with a hard limit.

 

I do agree that if you were given a Zync with a hard limit you obviously did not meet Amex's standard qualifications and maybe this Zync with a hard limit was probably an expirement. But I do believe as long as you keep it in good standing you should qualify for another Amex charge or revolver as long as you give it time and depending on your credit report. Not many people here that have Zync's with hard limits have had them for a long time to say you have to close the card to be approved for something better. I guess time will tell.

 

Just my 2 cents.


Not to call you out or anything... but did you not just post these a couple months ago?


dude11 wrote:

Mine has been stuck like this for 18 months. I just applied this morning for the Green and was denied. I have been making multiple payments a month on the Zync and charging more than $500. So don't think that after a certain period you will be approved for another card even charge from them. I guess it just all depends whether they want to or not.

 

I also assumed that after having this card for over 1 year I should at least be able to get another charge card as people say they tend to be easier to get. I don't have any BKs on my reports but I do have some negatives.



dude11 wrote:

HenryJumbo is right. I've had the Zync for 18 months and I still can't get a Amex revolver nor another charge card. I used to charge all of my daily expenses and utility bills to it and pay several times a month. I have stopped using it as the begining of this month and am currently thinking of closing it come to 2nd year anniversary in Feb of next year. So having a relationship does not mean 12 months down the road you will get another card from them or whatever.


So, I am a little confused as to when you got revolvers and or another charge card? Has it been within the last 2 months since you last post about not being able to get any other card? Other members have called Amex CSR's and the CSR's distinctly called out that hard limits will not be removed and any Zync holder with a hard limit cannot app for a new card until they no longer have the Zync with a hard limit. So, if you could just enlighten us as to when you applied for these new cards? What were you scores? Did you cancel the Zync? What was your CL on the revolver? Because, at this point, I think you are the only one that has supposedly gotten any further with Amex with a hard limit on their Zync.


Don't see where I mentioned getting another charge card or revolver. I have applied within the last 4-5 months different times for the green, gold, and BCE and have always been denied. Never because of my current Zync with hard limit. When I applied for these cards my scores were somewhere in the low-mid 600s. As I stated I still have my Zync with the hard limit that has not been removed nor upped. I have stopped using it however since I have received a credit card from my local credit union that works better for me.

However I used to have a revolver Blue from Amex back in 07 which unfortunately was charged off. However that was paid back in full a year later. Once again, never did I say I got my zync with the hard limit removed for been approved for another Amex yet.



So, what other charge products did you apply for? I am not familiar with any other charge products than the ones Amex offers. The OP has distinctly menioned having a Zync affecting his ability to get an AMEX revolver... not just any revolver. So, having a Zync will not set you back to other CCC's like Chase, Cap1, Citi, but it has been told that it will set you back in terms of obtaining other AMEX charge and revolvers.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Regular Contributor
Denny33142
Posts: 179
Registered: ‎07-12-2011
0

Re: Will zync really hold me back??

[ Edited ]

I have the Zync with the $500 limit, normally i get the "Internal Risk Score Too Low" when trying to apply for another card, however i got this message for the first time on my most recent application dated October 6:

 

"Thank you for your recent application.  We were unable to approve your request for the following reason:

 

Because you have the ZYNCSM Card with a spending limit, we cannot open another American Express card account for you at this time.

 

 

An important notice concerning your rights is included.  The creditor is American Express Bank, FSB.

 

We hope you are enjoying the benefits and services of your ZYNC Card."

Regular Contributor
dude11
Posts: 237
Registered: ‎06-07-2011
0

Re: Will zync really hold me back??


jd5189 wrote:

dude11 wrote:

jd5189 wrote:

dude11 wrote:

It seems a lot of people here assume things and then make statements like if they are true. Personally I don't think the Zync with a hard limit will hold you back. I have a Zync with a $500 limit for 18 months and I have applied for their revolver and charge products and I have never been denied due to having the Zync with a hard limit.

 

I do agree that if you were given a Zync with a hard limit you obviously did not meet Amex's standard qualifications and maybe this Zync with a hard limit was probably an expirement. But I do believe as long as you keep it in good standing you should qualify for another Amex charge or revolver as long as you give it time and depending on your credit report. Not many people here that have Zync's with hard limits have had them for a long time to say you have to close the card to be approved for something better. I guess time will tell.

 

Just my 2 cents.


Not to call you out or anything... but did you not just post these a couple months ago?


dude11 wrote:

Mine has been stuck like this for 18 months. I just applied this morning for the Green and was denied. I have been making multiple payments a month on the Zync and charging more than $500. So don't think that after a certain period you will be approved for another card even charge from them. I guess it just all depends whether they want to or not.

 

I also assumed that after having this card for over 1 year I should at least be able to get another charge card as people say they tend to be easier to get. I don't have any BKs on my reports but I do have some negatives.



dude11 wrote:

HenryJumbo is right. I've had the Zync for 18 months and I still can't get a Amex revolver nor another charge card. I used to charge all of my daily expenses and utility bills to it and pay several times a month. I have stopped using it as the begining of this month and am currently thinking of closing it come to 2nd year anniversary in Feb of next year. So having a relationship does not mean 12 months down the road you will get another card from them or whatever.


So, I am a little confused as to when you got revolvers and or another charge card? Has it been within the last 2 months since you last post about not being able to get any other card? Other members have called Amex CSR's and the CSR's distinctly called out that hard limits will not be removed and any Zync holder with a hard limit cannot app for a new card until they no longer have the Zync with a hard limit. So, if you could just enlighten us as to when you applied for these new cards? What were you scores? Did you cancel the Zync? What was your CL on the revolver? Because, at this point, I think you are the only one that has supposedly gotten any further with Amex with a hard limit on their Zync.


Don't see where I mentioned getting another charge card or revolver. I have applied within the last 4-5 months different times for the green, gold, and BCE and have always been denied. Never because of my current Zync with hard limit. When I applied for these cards my scores were somewhere in the low-mid 600s. As I stated I still have my Zync with the hard limit that has not been removed nor upped. I have stopped using it however since I have received a credit card from my local credit union that works better for me.

However I used to have a revolver Blue from Amex back in 07 which unfortunately was charged off. However that was paid back in full a year later. Once again, never did I say I got my zync with the hard limit removed for been approved for another Amex yet.



So, what other charge products did you apply for? I am not familiar with any other charge products than the ones Amex offers. The OP has distinctly menioned having a Zync affecting his ability to get an AMEX revolver... not just any revolver. So, having a Zync will not set you back to other CCC's like Chase, Cap1, Citi, but it has been told that it will set you back in terms of obtaining other AMEX charge and revolvers.


Listed right there. I am only talking about Amex products. I have applied for American Express Green and American Express Gold charge cards. Denied. Have applied for American Express Blue Cash Everyday revolver and also denied. Hopefully this clears it up for you.

Frequent Contributor
jd5189
Posts: 470
Registered: ‎08-14-2012
0

Re: Will zync really hold me back??

Yes it does, sorry but your post  made others and myself believe you were approved for other Amex cards. Also, if any denial letters stated "internal risk too high" that typically pointed to a Zync with a hard limit. More recently, within the last month, Amex has started to specifically call out that a Zync with a hard limit = a high internal risk.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012
0

Re: Will zync really hold me back??

[ Edited ]
 


Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Regular Contributor
Denny33142
Posts: 179
Registered: ‎07-12-2011
0

Re: Will zync really hold me back??

[ Edited ]

The issue is that everyone that has the PSL Zync has been denied for other amex cards with the letter always saying "Internet Risk Score Too High", but other than that there were no other stated reasons for the denial.

 

Only now that amex has made it more clear on the denial letter do we find out that it was because of the zync all along.

 

I am not aware of any other creditor that does this, I have the Cap One Secured card and was approved for the Cash Rewards card without having to close the secured card.

 

Edit: Actually i think when the PSL Zync first came out amex were allowing these cardholders to apply for another card, Perhaps too many people with the $500 Zync defaulted and that could be a reason why they are not letting anyone else apply for another card.

Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012
0

Re: Will zync really hold me back??


Denny33142 wrote:

I have the Zync with the $500 limit, normally i get the "Internal Risk Score Too Low" when trying to apply for another card, however i got this message for the first time on my most recent application dated October 6:

 

"Thank you for your recent application.  We were unable to approve your request for the following reason:

 

Because you have the ZYNCSM Card with a spending limit, we cannot open another American Express card account for you at this time.

 

 

An important notice concerning your rights is included.  The creditor is American Express Bank, FSB.

 

We hope you are enjoying the benefits and services of your ZYNC Card."


This ^^^ should be enough to end the thread. the question has been answered. The only person who refuted this essentially said he had so many reasons for his rejections that they didn't bother to list his internal risk score as a factor. We should let the horse rest in peace.

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.

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