topic Re: so has anyone successfully PC'd from Zync to one of their... in Credit Cards

AMEX Zync credit score

CS800 — Fri, 08 Jul 2011 13:46:12 GMT

Just curious at to the credit score required to get a Zync

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 14:10:58 GMT

Amex looks at everything so there is no one score. I did read somewhere that they prefer scores over 720 though. It's really... how old are your oldest negs? Job security,time at current residence? They don't like collections or chargeoffs at all no matter how long ago, but people with older ones (or a long positive history) have gotten cards with them. They hate BK, if you have a bankruptcy on your report it's very unlikely they'll give you a card. That said the zync probably has the most relaxed qualifications being geared towards the younger population, just be aware, having a thin credit file is different from having a dirty one. Amex also seems to like people having a mix variety of credit (installment loans etc). I was just approved and my scores are in the 720's (though TU is probably higher than what it was when I last checked), I've heard people getting approved for zync in the mid 600's though. Other people may chime in with better responses but this is just my observation. Have you ever had a card with them before or an AU?

Re: AMEX Zync credit score

Awesomely — Fri, 08 Jul 2011 14:36:17 GMT

If your reports are completely clean try applying for their credit cards, I got approved for a Clear card with an Experian score near 690.

Re: AMEX Zync credit score

CS800 — Fri, 08 Jul 2011 14:49:28 GMT

Back in 2001, I had their Optima Platinum that I closed in 2005 since I wasnt using it at all (my credit ignorance). On my EX I have one collection that's supposed to be off my credit report Dec 2012 as it said on the credit report.

So for me an AMEX would be mostly for the backdating for my AAoA. I have 3 credit cards; 2 of them with 0 balance and the other one about 5% util. I have a mortgage and a car loan that have always been paid on time.

All of my lates are on closed accounts and all these accounts have been paid off in full.

I have 3 closed car loan accounts with lates.

My credit cards (3 cards) lates were back in April 2008 (these cards are also closed and balance PIF; they were on a payment plan).

I will know my EX FICO in couple of days..

i'm hoping to be close to the 700 at least by mid 2012.

Re: AMEX Zync credit score

pizzadude — Fri, 08 Jul 2011 14:59:43 GMT

I can confirm that a EX FICO® score of 605 is too low AMEX, I received the message Your consumer credit bureau score from Experian is too low when I was recently declined.

However I do not believe that any score will guarantee approval. A low score will prevent you from being approved, but a higher score is only one of the factors that AMEX considers.

Re: AMEX Zync credit score

CS800 — Fri, 08 Jul 2011 15:20:33 GMT

Do they strictly use EX?

ISince AMEX is on of the top prime cards, I would think that anything under 680 would be too low.

Re: AMEX Zync credit score

CS800 — Fri, 08 Jul 2011 15:22:06 GMT

pizzadude, your siggy says your March 2010 FICO's, have they gone down thats why you said that you apped and your EX was 605?

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 16:29:13 GMT

I was approved for the Zync with a very limited credit history (I had two bank credit cards, opened just over 6 months before applying, and nothing else reporting)

In Jan. 2010 I applied for a green AMEX but was declined (I had zero credit history. In the same month I opened two bank credit card accounts with CL of <$500 (originally denied for both, but appealed sucessfully)

In Aug 2010 I applied for the Zync and was accepted! I am not sure what my scores were at the time, but they were definitely below 700. (maybe between 620-660?). I think I probably fell into the "profile" the card was aimed at...i.e. a young individual from a good zipcode going to a college in the northeast. They also backdated the card to the year I had become an AU on a business card (don't know if this helped).

I have loved the Zync so far! I only resort to using my bank cards when AMEX is not accepted. AMEX is also the only issuer that has trusted me with a credit limit that matches my spending activity. (I was forced to pay off the bank cards multiple times a month...weekly if I wanted to keep a reasonable util)

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 16:30:53 GMT

Sorry for the multiple posts, but I wanted to add that AMEX pulled all 3 CRAs when I applied.

Re: AMEX Zync credit score

pizzadude — Fri, 08 Jul 2011 16:35:45 GMT

Yeah AMEX typically only pulls EX I believe.

Who knows what their EX FICO® cutoff is ~ probably close to what you guessed, but it may vary based on the product or perhaps the time of day...

Unfortunately my scores have tanked over the last year, due to several factors:

1) Increased utilization from ~ 10% to 95%

2) ~10 inquiries on EX since March2010

3) A baddie from 2007 that shows a "last reported" of Mar2009, which I believe is making the derogatory TL look newer than it really is. I'm still trying to figure out how to deal with this one.....

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 18:10:35 GMT

Everyone is different I suppose but only ever EX for me.

Re: AMEX Zync credit score

RockinRay — Fri, 08 Jul 2011 18:12:08 GMT

Same here - only EX.

Ray

Re: AMEX Zync credit score

ficonightmare — Fri, 08 Jul 2011 18:32:09 GMT

Apped last Decmber for Zync. My EX report which they pulled, was the worst of the bunch. I had 3 derogs on it. Two paid C/O's and one 120 day late.

They approved me. Don't know my score at the time but i'm going to assume somewhere in the mid-high 600's if I base it off my other two reports- which were in the low 700's but only had 2 derogs.

But, I also had 2 cards with Amex back in the 90's that were always kept in good standing. Never late etc. I think that may have helped. Like you, I apped for the backdating feature.

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 19:14:39 GMT

Not sure what my EX fico was but my plus score was ~630ish and TU 665 / EQ 635

I was approved a few months ago, last baddy 2 yrs ago

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 19:38:50 GMT

Wierd, they pulled all three of my reports both times. Maybe its because I am so new to credit and have such a thin file.

Re: AMEX Zync credit score

haulingthescoreup — Fri, 08 Jul 2011 20:13:57 GMT

@Anonymous wrote:
Wierd, they pulled all three of my reports both times. Maybe its because I am so new to credit and have such a thin file.

I'd say that's exactly it.

If a report is really thin and/or short, they tend to pull one or both of the others to see if there's something more interesting on the other reports that for some reason doesn't show on Experian. The good thing is that multiple inqs aren't that harmful on young credit reports, because it's expected that you have to get some sort of credit somehow.

They'll also pull an additional one if your demographics are messed up (conflicting addresses etc.) per the experience of one of the mods several years ago.

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 21:26:42 GMT

the Zinc is subprime so you do not have a great CR. They pretty much approve anyone.

Re: AMEX Zync credit score

Guava — Fri, 08 Jul 2011 21:29:46 GMT

I was approved in May with a 1.5 yr old collection, that was the only negative in my CR

Re: AMEX Zync credit score

Anonymous — Fri, 08 Jul 2011 21:33:45 GMT

It's really tough to say, they have a whole algorithm that they go by but I should note they are new account and inquiry sensitive (that doesn';t mean they won't approve you but just to have the best shot.)

so has anyone successfully PC'd from Zync to one of their...

slarano — Sat, 09 Jul 2011 02:22:34 GMT

so has anyone successfully PC'd from Zync to one of their better cards, like a Blue Cash?