02-07-2013 11:29 PM
As you know from a couple of threads back i was approved for a Discover Card, I also have a Chase Freedom and a Capital One Cash Rewards.
But my oldest card is the Zync, i have had this one for over 2 years and during that time have pushed over 30K in purchases while also never being late on a payment, Amex however still have me on a $500 limit and will not remove it, they also do not want to approve me for any other card (I have applied for the Gold 3 times, last time being on January of this year).
Apart from that the rewards on the zync are not good, the 1 point per dollar is less than 1% when redeemed for a gift card, now that they are discontinuing the packs it is even worse. the card also has an AF while my Chase and Discover do not, even my Capital One has better rewards (1.5% cashback), when you add all of this up i came to the conclusion that the zync is actually not a good card at all.
Just wanted to share my bad experience with the zync and with amex overall.
02-07-2013 11:38 PM
Sorry for your bad experience with the Zync Unicorn! But the best part is that you have the history with AMEX and the only way to get approved for another AMEX is to close the Zync and applied for another card. But best part with AMEX is that you can get your new card backdated.
02-07-2013 11:39 PM
02-08-2013 05:19 AM - edited 02-08-2013 05:24 AM
It's not a lost cause. I have been just too lazy to set up an account and post, but i thought it would be helpful to give my experience.
I have had Zync since 2011 with 200 spending limit. Everytime i would apply i would get denied.On Feb 5, 2013 I applied for Amex Sky and it denied me saying that i had a Zync. During all this time, i was logging in into my account and then applying from there, so that I wouldnt have to enter in my all info again.
Two days ago, i received the letter about Zync discountinuace. I decided to try it one more time and go for the Delta so i could get the 30K miles offer. BUT INSTEAD of applying through my account, i applied through the website, entering the all information without logging in. I got the 7-10 days message and later found out i was approved for 1K. My Karma has me at 650, but Walmart has me at 690 i believe. No baddies.
Here is the history from amex:
February 05, 2013
Reference: 2013036 60 0**** USD
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 Centurion Bank.
We hope you are enjoying the benefits and services of your ZYNC Card.
If you have any questions, please call 1-800-567-1083 or write to us at the address above. To learn more about protecting your credit, visit our Consumer Resources page at www.americanexpress.com/consumerresources.
SVP Global New Accounts
02-08-2013 05:22 AM
So based on my experience, two things might have happened for me to get approved:
1) Amex changed their policy after they mailed out the letter re: zyng discountinuance.
2) if you apply without logging in into your account, you can trick the system to not match your ZYNC card info and therefore, get approved.
02-08-2013 05:55 AM
I just applied for one more amex, to use for everyday use, since it doesnt have annual fee:
That makes it 12 inquires on my experian
GO AHEAD AND APPLY PEOPLE!!!
02-08-2013 06:23 AM
But you have a $200 spending limit. Is that different than the $500 somehow? Did you ever get a choice between which spending limit to have? I thought I remember a post about the $200 and $500 Zyncs being different.
02-08-2013 08:29 AM
02-08-2013 09:17 AM - edited 02-08-2013 09:19 AM
I have actually seen many $200 zync holders get approved for other cards, i think the problem may be directly related to the $500 version.
Calling amex also doesn't help as they have no clue of this issue, The only difference i see between both cards is that the $500 Zync has autopay, I don't know how that would cause any issue.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.