Re: Future for Zync holders[ Edited ]
10-02-2012 10:59 PM - edited 10-02-2012 11:00 PM
If they aren't even allowing current Zync holders to add packs, then it seems like they will be discontinuing it at some point. The card is going to lose value for people if you can't add a pack that you might want.
Also, I wonder if the CC Act law re PCing and AFs may have something to do w/them no longer making packs avail for curr cardholders. Because the fees for packs are annual, based on when you add the pack, they may want to prevent any new AFs/pack fees from being charged so that people will be able to PC according to the new CC law.
I wonder why else they would want to stop current cardholders from adding packs. Or maybe they plan on discontinuting the card within a year and don't want to have to pro-rate pack fee refunds or something?
I don't think the CARD Act necessarily fits here, as the Zync already has an AF and Amex legal would've factored the pack additions in already as the card's been around for something like the last two years, and that act has been in effect during that time.
If they're deciding to shut down the infrastructure, then disabling the packs probably makes sense. Since the Zync infrastructure includes a seperate CS department, I think that group will either get repurposed or whacked, and the Zync is likely to go along with it.
While I'm going to be unhappy at losing $300/year in rewards / AF or worse (none of the other charge cards work for me in my current existence assuming they PC us to a Green or alternate charge product) realistically I probably need to take my business to Chase or Citi for pure financial reasons and just assume that I'll be qualified for a BCP at some point post condo/house anyway and will still get the backdating from the Zync account. I was hoping to hold on to the Zync until I could qualify for a CSP for other reasons, and not lose the 2%, though if my condo plan gets delayed, maybe I just need to see if I can beg Citi for a card if the TY points make any sense at all.
Meh. The Zync dovetailed very, very nicely with my BOFA 1-2-3 card and also my spending and overall credit plan. I certainly hope I get to keep it, I'm just not going to hold my breath on this one.
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