topic Re: Zync low income in Credit Cards

Zync low income

smc733 — Mon, 07 Mar 2011 06:44:40 GMT

So since Amex insists on despite asking for HHI, only accepting personal income, I have this thought.

If in a few months, I apply for Zync (obv. won't get Blue with my college income), and my college income is $14k, but I instead give them my tax return validatable number of $5,700 (Sept-December), will I get approved? I've heard from a LOT of people that college salaries are being accepted just fine on Zync.

Thoughts?

Re: Zync low income

Anonymous — Mon, 07 Mar 2011 18:34:43 GMT

@smc733 wrote:
So since Amex insists on despite asking for HHI, only accepting personal income, I have this thought.

If in a few months, I apply for Zync (obv. won't get Blue with my college income), and my college income is $14k, but I instead give them my tax return validatable number of $5,700 (Sept-December), will I get approved? I've heard from a LOT of people that college salaries are being accepted just fine on Zync.

Thoughts?

I think, in light of your recent battles with Amex, I'd put off any apps with them for at least a year or two. You've got good cards, currently, with good credit lines. What would this Zync card do for you that your current cards can't? AND, will the benefits (if any) outweigh the hassle that you'll probably incur from Amex?

I think this is a good time to garden the credit that you have. Let your accounts age, and grow & let your INQs age off. Honestly, it sounds like Zync isn't really the card that you want anyway. You should hold out until you're ready for the Blue.

Re: Zync low income

Anonymous — Mon, 07 Mar 2011 20:32:41 GMT

American Express first introduced the Zync(sm) to mainly target college students (more specifically the Gen Y folks). Now with the popularity of the Zync, all ages are applying for it. But don't forget its still considered a charge card for people in their 20's that have limited income. It's definitely a great card to have in your profile and a way to start a relationship with AMEX.

Re: Zync low income

smc733 — Mon, 07 Mar 2011 21:22:18 GMT

Fair enough. The problem of them requiring forms won't be an issue, as I can now send them a 4506-t, where up until last week, I had never filed with the IRS.

I'd like to carry around a charge card with me though, only one charge card, one credit card, and one debit card would probably be the ideal combination.

Re: Zync low income

Red1Blue — Mon, 07 Mar 2011 22:51:34 GMT

@smc733 wrote:
Fair enough. The problem of them requiring forms won't be an issue, as I can now send them a 4506-t, where up until last week, I had never filed with the IRS.

I'd like to carry around a charge card with me though, only one charge card, one credit card, and one debit card would probably be the ideal combination.

You remind of me of my self about 2 years ago. Both Amex and me went back and fourth. They do AA / FR and I close the cards. I open them again and they do the same and this time I gave them what they want and they gave me more credit that what I normally use. It was a battle and love hate/relationship. I am glad I grew out of that.

Re: Zync low income

haulingthescoreup — Mon, 07 Mar 2011 23:01:42 GMT

@Red1Blue wrote:
@smc733 wrote:
Fair enough. The problem of them requiring forms won't be an issue, as I can now send them a 4506-t, where up until last week, I had never filed with the IRS.

I'd like to carry around a charge card with me though, only one charge card, one credit card, and one debit card would probably be the ideal combination.
You remind of me of my self about 2 years ago. Both Amex and me went back and fourth. They do AA / FR and I close the cards. I open them again and they do the same and this time I gave them what they want and they gave me more credit that what I normally use. It was a battle and love hate/relationship. I am glad I grew out of that.

It made for exciting reading on the forums, though!

smc733, I agree with the others. For whatever reason, AmEx is all squinty-eyed about you for now, and few people have ever won that particular battle. Come back at them in a year or so and maybe go for a Gold, if you still want a charge card.

Re: Zync low income

smc733 — Mon, 07 Mar 2011 23:43:09 GMT

Right, but I'm curious now, would there be a battle with Amex if I can submit them a 4506 verifying an albeit low income?

Re: Zync low income

Red1Blue — Mon, 07 Mar 2011 23:57:04 GMT

@smc733 wrote:
Right, but I'm curious now, would there be a battle with Amex if I can submit them a 4506 verifying an albeit low income?

Have they asked you to submit 4506? I think you are worrying for nothing. When you want to apply go ahead and apply for it and see if it gets approved. Lot of people with lot less money are getting the card.

Re: Zync low income

Walt_K — Tue, 08 Mar 2011 00:05:53 GMT

Doesn't Zync have an annual fee? Your signature reads no more apping until 2012 and no annual fees???

Ok, that was unfair since I already gave you grief over your signature.

In seriousness, I tend to agree that you could stand to let your recent inquiries age and then app for an Amex product.

Re: Zync low income

smc733 — Tue, 08 Mar 2011 00:18:47 GMT

On previous applications, they've asked me for a 4506t (Zync) and 4506 (Blue).

As for the no apping, I promise that would definitely come after an Amex aproval.

Not a fan of Annual Fees, but for Amex, $25 would be stomachable for the benefits...

Re: Zync low income

Anonymous — Tue, 08 Mar 2011 02:00:33 GMT

with the 10,000 sign on bonus i got with my zync, the card esentially has no af for four years. by that time, I'm sure I'll move on to a no af amex card. ;-)

Re: Zync low income

Open123 — Tue, 08 Mar 2011 04:53:26 GMT

I think it's worth another try.

I agree with you on having a charge card. For instance, whatever purchases made on a debit card can easily be made on a charge card. You have more benefits, accrue some points, and worry less about fraud. The Zync gives you 10k points and will pay your fee for the next several years.