topic Re: Got amex zync and green same day. Why two charge cards ? in Credit Cards

Got amex zync and green same day. Why two charge cards ?

Anonymous — Thu, 23 Dec 2010 09:19:00 GMT

I initially wanted a Amex green card since i travel a lot and you can upgrade it later on. I was not sure that my score would approve me for a green. I was told that the Zync card was easier to get since I have thin credit report. So I applied for the Zync instead. I was instantly approved for the zync card and then I read a posting in this forum mentioning that applying for two cards same day with amex will go under the same inquiry. So I thought why not try the green. I did and was approved for that as well. That's great. But now I have two cards and I really dont need the zync card.

My questions are:

-Will there be two new tradelines on my credit report? or does it shows up as one ?

-Will closing Zync card make my AoAA longer since I will have one less card.

-Any other thoughts on this ?

-Any advantages of having both cards open?

-Will I get in any trouble with amex by closing Zync right after it has been opened?

-They are both charge cards and I dont think that I can transfer one into a credit card later on , right ?

my scores were: 715, 713, 711

AAoA: 2.5 years

no baddies

only 1 secured citi card open.

Re: Got amex zync and green same day. Why two charge cards ?

ArisGreek — Thu, 23 Dec 2010 14:06:15 GMT

To answer...Two cards would show up, but why not call and cancel the AMEX Green if you do not want it? Also, there are no "tradelines" it is a charge card so there is no posted credit limit, only an internal spending limit to AMEX. There would be no affect to closing Zync or Green since neither one have posted yet, right? From what I heard from other credit card companies, if you do not activate it and make a purchase, you can cancel within 30 days and it won't report to the bureau...but this may vary with creditors. I know Citi and Chase do this.

The advantages to both cards is 1 will get you rewards express (zync) and 1 will get you into the regular rewards program...personally, the regular rewards program is better in my opinion, but some people could argue that.

Re: Got amex zync and green same day. Why two charge cards ?

Ron1 — Thu, 23 Dec 2010 14:11:24 GMT

-Will there be two new tradelines on my credit report? or does it shows up as one ?

Yes, it will show 2 tradelines.

-Will closing Zync card make my AoAA longer since I will have one less card.

-Any other thoughts on this ?

Not sure. It might report to CRA.

-Any advantages of having both cards open

You have to pay annual fees for both.

-Will I get in any trouble with amex by closing Zync right after it has been opened?

Not sure.

-They are both charge cards and I dont think that I can transfer one into a credit card later on , right ?

No, you cannot product change from charge card to credit card.

Re: Got amex zync and green same day. Why two charge cards ?

Tazman81 — Thu, 23 Dec 2010 15:31:16 GMT

You should just call and talk to a rep about closing the card that you don't want. You also mentioned that you travel a lot, so I would see if you could cancel the zync, and product change the green to the gold premier rewards card. (of course only if the amount of travel you do warrants the additional annual fee cost).