Re: Amex denied.... again.....
03-23-2012 08:55 AM
Thank you guys, really I mean it.
I was actually going to call Chase and my local CU to cancel my card, but not anymore. I think 4 CC are good for me right now. I guess I have a lot to learn for you guys. So, I think I will just go along with the major consensus and wait for my AAoA to at least triple before applying. As to the Zync card, I really wouldn't be using it as much and really don't want to develop a habit of closing cards.
Again thank you guys, really appreciate it.
This forum can be a life saver sometimes and I guess this is a great example
The reasons to consider getting Zync now, even if you seldom use it, is the way AMEX operates.
1) They are MUCH more likely to approve your application for BCE in a year with you having established a payment history with them.
2) They backdate. Every card you get from now until you are too senile to manage your own affairs, will bear the date: member since 2012. If you open 3 different AMEX accounts 5 years from now, your AAoA will be helped by those 5 cards all reading 2012. Getting in the door has many advantages.
3) This year is free anyway. No annual fee, and you only need to run a transaction through it every now and then.
4) I hate to say it, but Zync is a cooler looking card than my Gold RP. Just sayin' OK- that reason does not really count.....
+1 Another thing I might add... AMEX is fairly income sensitive, so you will be better off getting in with the Zync, and then trying for the more advanced cards once you finish college and get a higher paying job... All you need to worry about now is getting in with a charge card product, and then moving up later on as your income and credit history becomes more established.
Okay, lets say I end up getting the Zync card, then in about a few months I get the BCE. I will most likely cancel the Zync card, which will might affect me down the road, based on the majority of reply's on the thread.
It seems that my main grip is that I prevously thought that after the closed account gets deleted off of the CR then it is not factored into you AAoA, rather the AAoA is based on your current card collection. Am I right in assuming that?
Starting Score: EQ: 600, EX: 580, TU: 599
Current Score: EQ: 710 on 01/22/12, TU: 763 on 02/02/12, EX: 753 on 1/28/13
Goal Score: EQ: 775, TU: 775, EX: 775
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