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Moderator
Revelate
Posts: 8,345
Registered: ‎12-30-2011

Re: Zynced


jamie123 wrote:

Congrats!!!!

 

You finally pulled the trigger!!!

 

How many hundreds of times did you mull over this app?

 


Oh I don't know, given that the plan was originally December, and then October, and finally deciding on the drive home today that I should just pull the trigger now it's hard to really make that estimation heh.  I mostly wasn't thinking about it as I'd resigned myself to a likely counter-offer in the October-Dec range.  I'm not usually prone to rash judgements and the early application was a little out of character for me, but it worked.  Hindsight being 20/20, maybe I should've applied somewhere in the April / May timeframe but I'm not certain my then scores would've gotten me over the hump.  Here though between FICO > 640 (presumably) with solid documentable income, and several tradelines over the six month mark, figured I could hit it and worst case the denial wasn't going to matter that much.

 

It'll be interesting to see what my EQ score is this month, now that I think of it the 60 day late ticked over the 2 year mark which might've improved my pig's mascara somewhat.  Even for EX, with the number of inquiries I had, and the fact my AAoA will be calcuated as one year for a while anyway, it's probably zero negative impact on my credit score even other than pushing my AAoA 2 year date out by a month or two, which is an easy trade for me for a useful card and getting my membership date established.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Zynced

With my credit file ? should i go for Zync ? what my change to get 700 score ? i know its going to low my AAOA.....but any advice guys ?


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Valued Contributor
creditnocash
Posts: 2,185
Registered: ‎07-23-2012

Re: Zynced


nicholasyud wrote:


Backdating, get a card today dated,  9/2012 in January get a card and it backdates to 1/2012   a year of free backdating so if you are rebuilding your second AMEX card can appear on your report as one of your oldest cards. Also after you have your first AMEX card all future APs are SP unless you are approved. Having an existing card with AMEX in good standing can increase your internal score increasing your chance of getting approved for better cards and possibly higher starting CL's.  All this for $25 a year, compared to other low end cards AF its the deal of the century. 

 

 




its going to be two hard pulls if you approved for their BCE later on let said 1 years ??


no. 

if you get denied its a soft pull 

ONLY if its approved its a hard pull for a new tl.

Current: Discover Fico 689 7/14 Walmart Fico 682 7/14

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012

Re: Zynced


creditnocash wrote:

Duncanrr wrote:

Yes it's worth it and yes it's more than just a debit card. Here are just a couple reasons: rewards, can link to higher end charge card to upgrade rewards, great for reimbursable expenses, establishes relationship with Amex, and the card looks frigging cool! Oh and I got a backdated card to 1993!!

not everyone gets backdated to 93. but when i have kids and open another futuristic card ill be backdated to 2012 :smileyhappy:


But that is kind of my point. I'm a prime example why you get in early. My two new cards are now my oldest :smileywink: Amex allowed me to go on app spree and only lose 0.4 from AAoA. (10.1 to 9.8 AAoA)


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Valued Contributor
creditnocash
Posts: 2,185
Registered: ‎07-23-2012

Re: Zynced

sorry to dissapoint but zync does not come with a score.

since its not a revolver your getting the best terms. 

and there for not getting a score.

 

but enjoy the card and treat it like your new child.

Current: Discover Fico 689 7/14 Walmart Fico 682 7/14

Inquiries (24 Months): EQ 8 TU 5 EX 5 | Most Recent: 09/04/2013
2 Inquiries in The Last 12 Months


2014 Goals:
Lower Utility

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Zynced


Duncanrr wrote:

creditnocash wrote:

Duncanrr wrote:

Yes it's worth it and yes it's more than just a debit card. Here are just a couple reasons: rewards, can link to higher end charge card to upgrade rewards, great for reimbursable expenses, establishes relationship with Amex, and the card looks frigging cool! Oh and I got a backdated card to 1993!!

not everyone gets backdated to 93. but when i have kids and open another futuristic card ill be backdated to 2012 :smileyhappy:


But that is kind of my point. I'm a prime example why you get in early. My two new cards are now my oldest :smileywink: Amex allowed me to go on app spree and only lose 0.4 from AAoA. (10.1 to 9.8 AAoA)

you had a thick file durrcannn .... i dont ;-(

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Regular Contributor
EandK23
Posts: 178
Registered: ‎09-12-2012

Re: Zynced

Congrats!!!
Valued Contributor
jamesdwi
Posts: 1,433
Registered: ‎09-16-2011

Re: Zynced


nicholasyud wrote:

With my credit file ? should i go for Zync ? what my change to get 700 score ? i know its going to low my AAOA.....but any advice guys ?


unless your EX file is a lot lower than your other 2, you should be good with Zync, if your income is low like below 30k you may have a higher chance of getting a hardlimit card, but you should still be able to get the card have your routing and bank account number handy for the worst case senario. 

 

All Zync takes in most cases is a 640+ FICO and 6+ month credit history and no recent lates or charge offs. 

 

 

Cards: Chase Southwest 20k & CSP 10k & Amtrak 4.6k, & Freedom 3.3k & Slate 3.3k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & AMEX Hilton Surpass 7.5k & AMEX Zync NPSL, Sams Club Discover 10k, Paypal Extras MC 6k, CapOne 2.5k, CapOne 750, Amazon 3.9k, Walmart 4.5k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 6.5k and a nice stack of store cards.
Last APP 4/26//2014 no plans for new credit I think I have enough.
Moderator
Revelate
Posts: 8,345
Registered: ‎12-30-2011

Re: Zynced


nicholasyud wrote:

I wonder why you guys dont just wait until your score get high enough to get a Amex BCE ......I mean if you in mid 600 score then probably 6 months or 1 years then you would hit that score and qualify for their MAIN product then why bother to apply for a charge card Zync that basically like a Debit card but you do paid AF....

I mean 6 months its not gonna hurt you right ? i know their backdate stuff but really ? is that really worth to apply for it >?? ?? Just wonder ....


Because an extra year for backdating (or two in my case, I don't know that I'll be qualified for an Amex revolver next year, that unresolved tax lien is an elephant in my living room which has to be addressed pre-mortgage though) helps quite a bit when you're in the 2-3 AAoA year range where arguably it makes the most difference.  Prior to 2 years AAoA's counted as 1 year, and anything more than 4 is mostly a wash or severe dimishing returns, so the sweet spot is a few years out and member date 2012 >> 2013 for me on that.

 

I also have to admit confusion as to why you liken the Zync to a debit card.  Just because people claim they *use* it like a debit card or as a replacement for a debit card (which is no different than any other every-day credit card I'd point out), doesn't make it a debit card in any shape, form, or fashion.  Rewards and purchase protection clearly separate it from the vast majority of debit cards... and the fact is a one month float is sometimes still beneficial compared to the debit card immediate withdrawl of funds from one's checking account.

 

Also to be perfectly honest, the Zync really is a pretty good card for my personal spending habits.  I have a non-trivial amount of spending which falls under the connect bill (and probably more soonish, I really need wifi access anywhere on a mobile hotspot with my jobs), I eat out all the time, and I don't travel... so most of the fancier cards, just don't do much for me right now.  I could probably make the analysis that until I either start travelling or move my dining to grocery shopping and cooking at home, the Zync is the best card for me out of the entire Amex portfolio.  MRE = MR when it comes to gift certificates, for, you guessed it, restaurants in my case :smileyhappy:.

 

Finally, the Amex acceptance rate is nearly universal here in Los Angeles.  Came across literally one store which didn't accept it when I was dabbling with the prepaid, no big deal as I have alternate cards on me anyway.

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Moderator
Revelate
Posts: 8,345
Registered: ‎12-30-2011

Re: Zynced


creditnocash wrote:

sorry to dissapoint but zync does not come with a score.

since its not a revolver your getting the best terms. 

and there for not getting a score.

 

but enjoy the card and treat it like your new child.


Heh, I know, even the Amex counter-offer Zync doesn't come with a FICO score.  If I gave the impression I was expecting one, I apologize as that's not the case... I just happen to know my files and scores pretty well over time and 650 is probably really close to my EX mortgage score at least.

 

If I really wanted to know my EX FICO (probably bankcard '08) I'd just apply for their top-end revolver a month after I've activated my card :smileyhappy:.  

 

In a different topic, when I applied for the Zync there was a couple of places where Amex asked if I wanted to apply for another card at the same time.  Has this been the case for other folks or is it new in the interface as I haven't heard it mentioned here previously?

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


Take the myFICO Fitness Challenge

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