Reply
Established Member
Posts: 17
Registered: ‎11-26-2010
0

Zync chances?

I'm working to rebuild, but haven't done much other than get my util down under 9% at this point. My short term goal is to get a Zync card so that I can ditch the debit card and earn some points. My scores aren't great, but I've seen others qualify with what seems to be similar scores around here.

 

I have a few lates, a few collections, but for the last three years I've had perfect payment history. My Equfax is 604 and my Transunion is 657, both FICO scores from myFICO. I have an NCO collection that will fall off as soon as I can get a letter to them because I'm sure they can't validate. I called them a few months ago trying to PIF and they refused to take my money because they couldn't find the account.

 

Long story short - pull the trigger now, or wait until some of the bogus reporting is resolved?

Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Zync chances?

Why on earth would anyone apply for credit when their reports are about to get better???  Smiley Very Happy

 

Sorry, Booma, I'm not being personal. It's just that I see this all the time, and I don't get it.

 

Think of applying for new credit like going on a blind date. You can go with stringy, greasy hair, grubby clothes, and a rather odd odor, or you can clean up and look your best. Which do you think will have the, ummm, best results?  Smiley Wink

 

AmEx will pull your Experian report, although they use their own internal scoring system. As to your baddies, the older the better. Congrats on getting your util under control!

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Established Member
Posts: 17
Registered: ‎11-26-2010
0

Re: Zync chances?

Eh, I just want a charge card, really. I'm not interested in gaining credit. With the packages I could rack up points instead of using my debit card, which gains me nothing. I've been responsible with my credit for the last three years and I want to feel like I've hit a milestone, maybe. There are a myriad of reasons, though I will admit that none of them are terribly logical. I'm about to spend a sizeable amount of cash on Christmas, so gaining the points would be a bonus. Getting something for nothing...or a $25 annual fee... 

 

You're point is well taken, though.

Regular Contributor
Posts: 142
Registered: ‎01-19-2010
0

Re: Zync chances?

Amex will likely pull your Experian report, so you might check how that report compares (baddies, etc.) to your EQ and TU reports.

 

Although this is not a final determiner (it wasn't for me), have you tried the pre-approval page on Amex's website?

 

Score-wise, it might be a little early to apply, but also keep in mind that Amex reportedly uses its own algorithm for determining to whom it will offer its cards.

Starting Score: 542 (in 2006)
Current Score: 661 (TU FICO), 677 (EQ FICO), 672 (EX FICO)
Goal Score: 750+
Contributor
Posts: 90
Registered: ‎05-13-2010
0

Re: Zync chances?

AMEX is not too easy to understand.  They accepted me with low to mid 600 scores (I know they use their own rubric but it gives you an idea of where I was).  But, I was a past cardholder who made good on old accounts.  They certainly aren't throwing any revolvers at me yet...

 

I say if you haven't been app crazy, nothing beats a try but a failure...and you won't know that till you try!  But if you know something really derogatory will be coming off...get it off!

2009 Credit Portfolio: First Premier 450, Orchard Bank 400

2012 Credit Portfolio: AMEX; Gold, Zync, & Clear 5k
Citi Platinum Select 2k, Home Depot Store (Citi) 4k, Discover More 10k, Barclays Apple 2k, Cap 1 (secured) 2.5k
Highlighted
Valued Contributor
Posts: 1,291
Registered: ‎05-13-2010
0

Re: Zync chances?

No one seems to know what is going on with Amex in regards to the Zync.

 

I was denied several times when my FICOs were in the 650-660 range, yet people have been approved with 620 and lower!  Amex's own internal scoring system (which they use, not FICO) has a lot of differences against how the FICO system evaluates your credit.

 

You never know, you MAY get approved, but I would certainly, in your case, wait until those baddies come off.  Why waste an inquiry to potential denial, on something that could be an approval as soon as that baddie is removed?

BofA Cash Rewards VS - $25k/9.99% | Citi Dividend World MC - $12.1k/11.99% | Amex BCE - $20k/10.24% | Chase Freedom VS- $10k/15.24% | Barclay Ring $5k/8.0% | Discover it - $21.5k/11.99%
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.