topic Re: Amex Zync with hard limit in Credit Cards

Amex Zync with hard limit

bvick27 — Wed, 09 Mar 2011 02:15:53 GMT

So I know a few people on here (including myself) were approved for the Amex Zync with a hard limit of either $250 or $500 depending on some options and credit rating. I decided to call Amex today and ask them about how long this hard limit would be imposed. At first their Customer Rep seemed confused but after some digging, she told me that after 3 months I should be able to get the hard limit removed and a soft limit imposed as long as I have a good payment history (no problem!) and after one month if I really want I can try for it. She did make the point that we have to call in and ask rather than using the automated system or else it will happen automatically whenever the system decides it necessary. Just thought I would give everyone who was given the same card a heads up!

Re: Amex Zync with hard limit

Red1Blue — Wed, 09 Mar 2011 02:37:27 GMT

We received a card for my daughter. At the approval it said $250 limit. Once the card is acticated then it changed to no preset spending limit. I know it is confusing.

Re: Amex Zync with hard limit

Clashmoore — Wed, 09 Mar 2011 04:06:15 GMT

This is a card I have. If your apply online and are approved instantly, they give you a temporary $250 limit (you use a special security key) so you can make internet purchases until your card arrives in the mail. Once my card arrived, the $250 limit was removed.

Re: Amex Zync with hard limit

bvick27 — Thu, 10 Mar 2011 02:22:59 GMT

We are not talking about the same thing. There is a $500 hard limit on some peoples cards depending on their credit history and their history with Amex. I understand you guys had the $250 limit before the card arrived, but this is a $500 limit with an agreement to enroll in autopay. This is quite different than what you are referring to.

Re: Amex Zync with hard limit

mrmagic9799 — Thu, 10 Mar 2011 03:12:33 GMT

@bvick27 wrote:
So I know a few people on here (including myself) were approved for the Amex Zync with a hard limit of either $250 or $500 depending on some options and credit rating. I decided to call Amex today and ask them about how long this hard limit would be imposed. At first their Customer Rep seemed confused but after some digging, she told me that after 3 months I should be able to get the hard limit removed and a soft limit imposed as long as I have a good payment history (no problem!) and after one month if I really want I can try for it. She did make the point that we have to call in and ask rather than using the automated system or else it will happen automatically whenever the system decides it necessary. Just thought I would give everyone who was given the same card a heads up!

WOW!.., I've never heard of this. I'm patiently waiting to get in the door with AMEX but my scores aren't quite there yet. Do you mind sharing what your credit profile looked like when they offered you this? Also which CRA did they pull? THANKS!!

Re: Amex Zync with hard limit

chris6291 — Thu, 10 Mar 2011 03:26:25 GMT

Its awesome because I just now got approved for this card. Amex said "NO!" in November, so today I applied and they approved me. My first amex finally. My TU was 702, EQ 675, and EX 718 (Discover FAKO). Utilization 11%. Pulled EX. About 6 inquiries on EX. Damn im happy!

Re: Amex Zync with hard limit

bvick27 — Thu, 10 Mar 2011 06:56:40 GMT

My profile isn't great. A few baddies, all not very aged but none too recent. All scores are hovering around 645-650. They offered me a 500 charge limit with autopay enrollment or a 250 chage limit without it. I too the 500 as it seemed more worth it to me since I will be paying off as I charge so it didnt matter too much!

Re: Amex Zync with hard limit

haulingthescoreup — Thu, 10 Mar 2011 07:08:47 GMT

Just a general observation, because I'm feeling a bit maternal (and I'm chock full of cold medications), and this is absolutely not directed at anyone specific whatsoever; it's for those of you who have gotten in with AmEx for the first time via Zync, or any other card, for that matter:

Treat this thing like it is a Faberge egg. Fragile, encrusted with jewels, and lusted after by collectors all over the planet. Yes, it's just a piece of plastic, and no, I don't think that AmEx hung the moon, but this is a company that you want to make happy, now and in the future. There are all sorts of warm fuzzies that come along with being in their good graces, and the backdating on additional cards in the future is just one of them.

Don't charge anything that you can't pay off within the next month. Seriously, folks. I mean it. Look at your accounts and your upcoming paychecks. Don't **bleep** around with AmEx.

Okey-dokey, I will leave you younguns to your evening, and I am now chugging down some more Robitussin. Happy Zync-ing, everyone, and nighty-night.

eta: Ah, I forgot about the latest version of bleep-dom. Lest anyone think that I was posting genuine naughties, my **bleep** referenced the affixing of one material to another via a threaded attachment device, which is driven by a **bleep**driver. As opposed to by a hammer, for instance. More Robitussin...

Re: Amex Zync with hard limit

Red1Blue — Thu, 10 Mar 2011 12:47:00 GMT

@haulingthescoreup wrote:
Just a general observation, because I'm feeling a bit maternal (and I'm chock full of cold medications), and this is absolutely not directed at anyone specific whatsoever; it's for those of you who have gotten in with AmEx for the first time via Zync, or any other card, for that matter:

Treat this thing like it is a Faberge egg. Fragile, encrusted with jewels, and lusted after by collectors all over the planet. Yes, it's just a piece of plastic, and no, I don't think that AmEx hung the moon, but this is a company that you want to make happy, now and in the future. There are all sorts of warm fuzzies that come along with being in their good graces, and the backdating on additional cards in the future is just one of them.

Don't charge anything that you can't pay off within the next month. Seriously, folks. I mean it. Look at your accounts and your upcoming paychecks. Don't **bleep** around with AmEx.

Okey-dokey, I will leave you younguns to your evening, and I am now chugging down some more Robitussin. Happy Zync-ing, everyone, and nighty-night.

eta: Ah, I forgot about the latest version of bleep-dom. Lest anyone think that I was posting genuine naughties, my **bleep** referenced the affixing of one material to another via a threaded attachment device, which is driven by a **bleep**driver. As opposed to by a hammer, for instance. More Robitussin...

Hauling, too much wine last night ?

Re: Amex Zync with hard limit

Creditaddict — Fri, 11 Mar 2011 01:25:34 GMT

Hard limits are reviewed after 6 months from what I was told.... I kind of like having the hard limit, no questions of what will be approved and not. My Zync hard limit is $3k.

Re: Amex Zync with hard limit

Anonymous — Fri, 11 Mar 2011 01:58:58 GMT

What is the minimum credit score for an American Express?

EX: 640

EQ: 634

TU: 630

Re: Amex Zync with hard limit

Walt_K — Fri, 11 Mar 2011 02:02:10 GMT

@Anonymous wrote:
What is the minimum credit score for an American Express?

EX: 640
EQ: 634
TU: 630

If you run a search for Zync and score or Zync and approval or Zync and minimum, you'll probably find some insight. Also, note that Amex pulls EX and they use their own internal assessment system. That said, there's probably still some value in knowing what others' scores were that were approved.

Re: Amex Zync with hard limit

halos24 — Fri, 11 Mar 2011 02:45:23 GMT

Had to post. I completely agree with haulingthescoreup cherish this card or any Amex when you do get in the door. I myself was approved for the Zync in December and recently in January for the Costco Card. Although, they did backdate me to 2005 because I was an AU on my husbands cards back then trust me I am just happy to be back in. My husband defaulted on both his Amex cards and I can tell you feels good to be back in.

Now, regarding the hard limits I will tell you that your accounts are being watched the first 6 months! My Zync card I have used heavily charging between 2-2500k a month! With the first period from Dec-jan I would pay it as I went prior to the statement dropping. Again, for this reason do not charge anything that you cannot pay off within the month! With this last month I was up to $1700 and I got a phone call after the statement dropped asking for payment or my cards would be shut off! Not only the Zync but the Amex Costco as well. Soo.... of course to make Amex and myself happy I paid it off.

Amex explained that it does take 6 months to become familiar with you, at this point I think my hard limit is at about 1500. My EX score was probably in the middle of my EQ and TU scores currently for those of you wondering. Again, will say it again that Amex uses their own internal scoring and I believe they do take income into account.

Re: Amex Zync with hard limit

Anonymous — Fri, 11 Mar 2011 03:04:51 GMT

I searched for hard limit but could not find out what it meant. Can you explain please?

Re: Amex Zync with hard limit

Anonymous — Fri, 11 Mar 2011 03:20:13 GMT

@Anonymous wrote:
I searched for hard limit but could not find out what it meant. Can you explain please?

Traditionally, American Express Charge Cards, IE Platinum, Gold, Green and Zync are "No Preset Spending Limit" Cards, meaning you can charge what you want as long as you pay it off at the end of the month. Recently AMEX has approved people for the Zync Card with a set spending limit of 250 or 500 dollars if they didn't qualify for the No Preset Limit Card. The other hard limit she is refering to is that, No Preset does not mean unlimited and based on your credit history and your relationship with AMEX, they may require payment when your balance gets to a certain point. With my Platinum I can spend up to 25k but above that will not be approved even tho, its NPSL. Its a case by case basis.

Re: Amex Zync with hard limit

Anonymous — Fri, 11 Mar 2011 03:39:17 GMT

hmmmmmm I could get in trouble with no limit

Re: Amex Zync with hard limit

Creditaddict — Fri, 11 Mar 2011 21:26:36 GMT

If your American Express Charge Cards have a hard limit you will see it on your statement and on your online profile right below balance. If you do not see an actual limit your card is no pre-set spending limit and you will have an ever changing internal limit as you charge more and show history with amex.

Re: Amex Zync with hard limit

Clashmoore — Sat, 12 Mar 2011 03:26:08 GMT

I applied to the Amex Zync and was approved. I am still within my first month (Feb. statement closes on 13th) and I do not have a limit.

My EQ is 602.

So far this month I have charged $1000 (with $550 paid down when I first hit it). When I called Customer Service to ask if I could pay before my first bill arrived because I was worried about the shadow limit, they attempted a $1500 purchase and it was approved. I just recently tested a $2500 to see and it was also approved also.

- Clash

Re: Amex Zync with hard limit

mrmagic9799 — Sat, 12 Mar 2011 03:28:58 GMT

@Clashmoore wrote:
I applied to the Amex Zync and was approved. I am still within my first month (Feb. statement closes on 13th) and I do not have a limit.

My EQ is 602.

So far this month I have charged $1000 (with $550 paid down when I first hit it). When I called Customer Service to ask if I could pay before my first bill arrived because I was worried about the shadow limit, they attempted a $1500 purchase and it was approved. I just recently tested a $2500 to see and it was also approved also.

- Clash

WOW!, really 602... How'd the rest of your profile look.? That gives me serious hope!!

Re: Amex Zync with hard limit

Clashmoore — Sat, 12 Mar 2011 06:19:19 GMT

I applied before knowing my credit score. I applied middle of February 2011.

I have a post in the rebuilding your credit forum that details my report and circumstances after I received the card. Just before applying, but not yet reflected, I paid off my credit cards and decided I wanted a charge card so I would be forced to have some discipline.

My report on my March 9th EQ was 602.

That is with ~95% util on $5000 cl

60 day late on student loan in June 2010

120 day late collection account (paid and deletion sent 3/11/11)

I had no idea what my score was when I applied and was instantly approved. After applying is when I found this community and joined and now am more educated on dealing with credit.

- Clash

Update: I just pulled my TU number and it was 682. My revolving accounts were reported as paid. My EQ, dated 3/9/2011, reported me as 602 but still had the full 95% util. I didn't pay my accounts until after I was accepted by AMEX.