want amex bce, should i get zync first?

[Anonymous]

I originally app'd for a blue for students to be my first CC about 2.5 years ago and was denied (not enough history, etc etc). My EX fico was 640 at that time. I then app'd for the Zync about 6 months later and was approved. The Zync was the first CC I ever obtained as I did not want a Cap1 card just from hearing about the low credit lines I really needed something I could use without almost continually maxing out my CC. So I used my Zync for almost two years responsibly, and app'd for the BCE at the beginning of this month and I was approved. My EX fico reported by Amex on the approval letter is at 687 now. However, they still did list my lack of revolving accounts (just acquired a Chase Freedom at the beginning of the month as well). 

While I know my EX Fico is on the lower end of BCE approvals, with my good standing history with them and clean reports (Fico's are low due to my student debt), they obviously felt I was not as much of a risk factor as my score could entail.

If your scores are a bit lower, I would say at least app for the Zync. I really do not know what other accounts you might have that they would factor into the BCE approval. If you are approved for the Zync, immediately app for the BCE as it will only be one pull because you are doing it within the same day. If you are denied BCE, at least you now have the Zync to start building your Amex relationship. If you are approved for both, then you can keep the Zync for a year (or just never activate it to begin with). You might end up liking to have the Zync as a backup card for certain things especially if you get npsl, you might be able to charge for stuff you might otherwise max (or not have enough CL) your other card.

Good luck and hope my Amex story helps in your decision. 

[jsickz32]

I was approved for the BCE with a 675 EX score and then a week later i got the green and a month later the PRGOLD. So its not true that you need a 700+ score for their revolvers. I came accross this forum because of this exact same reason that i wanted the BCE and only being 21 thought there was no way for me. I was gonna go for the zync and wait a year like i kept reading here but i said f^¢{ it! And went for it and got approved for 2.5k.

[Crashem]

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@HenryJumbo wrote:

Ugh here's the thing an excellent credit score (no history of baddies, bk you can forget it) plus history from other cards with decent limits can get you into Amex. The hype surround Zync is that once you're in Amex other cards are a SP. People have been denied for a BC with Zync and a year worth of history. The success stories are overblown. What they don't realize is that it isn't the Zync per se that's getting them the BC it's the credit history in general that's getting them into Amex. Most Zync cardholder apply a bunch of times to get into Amex and think it’s because of the Zync. If reapplying cost a HP you would hear less and less about how Zync gets you into Amex.

This goes into getting cards you don’t want in order to get one you do. My advice is if you have great-excellent credit, no baddies and more than a years’ worth of history GO FOR IT, skip the Zync if you don’t need it. I got an Amex card with 1.2 years of credit history, no baddies ever and less than 10% utilization.

Now if you want to go in low and get a weak charge card like the Zync (might as well get Amex Green) and built up credit and then apply every other month until you get in then fine. Zync doesn’t guarantee you anything. It only ensures you can apply over and over hoping Amex will take you in without getting a HP. You can easily wait a year or more with a Zync card.

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I don't fully agree with above post.  Amex bce/bcp is pretty hard card to get.  If you qualify, by all means app for it withoutgetting zync or any other Amex first. The power of zync is several fold.  First, above poster is right that it is soft pull.  But he is missing some key points.  Zync is by far the easiest card from Amex to get.  So it is easiest card to get so you can build payment history with Amex.  2nd the annual fee on zync is lowest of charge cards.  Previous poster said why not just get green.  One if you aren't sure if you will qualify for green or above.  2nd, you can qualify for any Amex charge card, but only really interested in getting revolver like bce/bcp.  In this case, why not just pay $25 dollars vs $95 or more just to build history with Amex.  He is completely wrong about Amex not putting higher weight on payment history with Amex.  Lots of cases of people getting denied for bce/bcp, then going for charge card and 6 months later getting approved for bce/bcp.  Most issuers give your relationship with them more weight in credit decisions any other credit lines.  Amex seems to do so more than average.

[Open123]

Good points by Cdnewmanpac.

Reaping anything substantial from the MR Program requires at least 60K - 70K points, which is the bare minimum.  And, that is assuming you allocate the time and have the inclination to seek out the best off peak business class int'l spcials and remain vigilant for potential bonus transfers. 

The Green card launched Amex's iconic charge card product, but these days it's a relic relegated for retiring Platinum holders who no longer travel downgrading to retain full MR status.  For a new MR program member, 1 point per dollar isn't going to get anything, unless you spend amounts (20K+) where the PR Gold (at least you get some bonus points) is infinitely superior. 

Some often touted limitations regarding the Zync are the 5K spending limit per pack and the lack of full MR.  When rebuidling is 5K per pack really a limitation?  If one can spend above $5K/pack easily but need to build or rebuild, then the odds are that no static limit card will offer you a CL even remotely close to the NPSL a Zync offers.  The Zync card's spending power (how it's derived) is no different than a Green, Gold, or Platinum.

As to lack of full MR, anyone rebuilding really intend on spending $70,000/yr for MR points to redeem an airline ticket?  If so, then go with the PRG.  Gift cards are 1 cent per dollar spent, which would more than suffice for anyone whose spending is below $15K per year.  At least, with the Zync, there are nice packs that can increase your rewards spending by greater than 1%.  What other rebuilder card has a better rewards structure?  If you can have the Fico scores for better rewards cards, then you'd qualify directly, as Cdnewmanpac pointed out.

Finally, if full transfer to airlines is your goal, then bank the Express points until you upgrade to a full MR card.  All your points will upgrade too, but at least you'll get a free year and signing bonus of the PRG or travel benefits of the Platinum.  Then, you might find the MR program to be of some value.  And, Amex absolutely uses internal their internal metrics (once they have them) more than they do Fico or any other kind of scoring system.

Do well with the Zync with high Amex internal risk and transaction scores, you'll easily qualify for any Amex in 12 months, save the Centurion.

[Anonymous]

Depends a lot on your history and scores. I never had a zync. I went straight in with bc and gold. if you're borderline it couldn't hurt to begin a positive relationship with them. As others have said, you can't pc from charge to credit (just had the conversation with them the other day). Good luck!

[LilNYC]

OP, if you are asking if there's an easier ( actually "less difficult" is more accurate) amex to get approved for that can eventually be PCed to a BCE, there was a thread a couple of weeks ago by someone who recently got an Amex Hilton  & was told by Amex she could PC it to a BCE. The poster included the actual email from Amex in her thread. Many ppl on these forums have said that in general co- branded amex revolvers have less difficult underwriting criteria than the Blue series. So you could go that route. However without knowing anything about your credit profile & scores it's difficult for any of us to advise you?

[webhopper]

I find the zync to be a very desirable part of my cc portfolio
I dont travel enough to make PRG worth it and I wasn't impressed by green.

I like the packs. My ytd spend on zync is 23k

It has kept up with my spending giving me zero issues.... I cant say that about chase or discover

[ficojoe]

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@LilNYC wrote:

However without knowing anything about your credit profile & scores it's difficult for any of us to advise you?

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Time Since Negative: It has been 5.1 Years since the last time negative information was listed on one of your accounts.

Baddies:

$5k Federal tax lien filed 5/2006 (been withdrawn by IRS, waiting to drop, will not app until it falls off)

6 student loans with Sallie Mae that have late payments in 2006, then accounts transfered to ECMC, late payments with ECMC in early 2007 until refinanced

1 $800 Collection "This account is scheduled to continue on record until May 2013." - this item is currently under dispute.

30 day late on mortgage in Dec 2005

Current Revolving Credit:

$7,500 NFCU Cash Rewards Visa

$7,500 NFCU Overdraft Line of Credit

$2,500 NFCU Platinum Mastercard

$1,000 Kay Jewlers

$851 Secured Capital One MC

$400 Amazon/GE store card

$150 Wal-Mart/GE store card

Currently reporting $14.00 on my wal-mart card and all others at $0. Next  month the NFCU Visa should report around $750 and all others will report $0.

Currently have 4 installment loans from the dept. of education.

2 real estate loans, paid off in full are reporting (one 30 day late in Dec 2005).

Lots of inquiries in the last 2 years, most of them in the last 6 months.

Total Accounts:
Open and Closed: 34 Accounts
Oldest Account Age: 13.9 Years
Average Account Age: 6.8 Years

FAKO PLUS Scores as of 8/22: 

Experian: 676

Equifax: 676

TransUnion: 632

[LilNYC]

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@ficojoe wrote:

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@LilNYC wrote:

However without knowing anything about your credit profile & scores it's difficult for any of us to advise you?

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Time Since Negative: It has been 5.1 Years since the last time negative information was listed on one of your accounts.

Baddies:

$5k Federal tax lien filed 5/2006 (been withdrawn by IRS, waiting to drop, will not app until it falls off)

6 student loans with Sallie Mae that have late payments in 2006, then accounts transfered to ECMC, late payments with ECMC in early 2007 until refinanced

1 $800 Collection "This account is scheduled to continue on record until May 2013." - this item is currently under dispute.

30 day late on mortgage in Dec 2005

Current Revolving Credit:

$7,500 NFCU Cash Rewards Visa

$7,500 NFCU Overdraft Line of Credit

$2,500 NFCU Platinum Mastercard

$1,000 Kay Jewlers

$851 Secured Capital One MC

$400 Amazon/GE store card

$150 Wal-Mart/GE store card

Currently reporting $14.00 on my wal-mart card and all others at $0. Next  month the NFCU Visa should report around $750 and all others will report $0.

Currently have 4 installment loans from the dept. of education.

2 real estate loans, paid off in full are reporting (one 30 day late in Dec 2005).

Lots of inquiries in the last 2 years, most of them in the last 6 months.

Total Accounts:
Open and Closed: 34 Accounts
Oldest Account Age: 13.9 Years
Average Account Age: 6.8 Years

FAKO PLUS Scores as of 8/22: 

Experian: 676

Equifax: 676

TransUnion: 632

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Did you file the IRS form 12277 so that the lien is removed from your credit reports?

[ficojoe]

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Did you file the IRS form 12277 so that the lien is removed from your credit reports?

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Yes, then I got a letter from the IRS saying my application was approved and they were filing the withdrawl papers. Then I disputed with the 3 CRAs giving the IRS notice as proof.