topic Re: GOT APPROVED FOR AMEX ZYNC!! in Credit Cards

GOT APPROVED FOR AMEX ZYNC!!

bronxbomerss2 — Sat, 05 Nov 2011 07:25:57 GMT

hello everyone, just want to share a few thoughts and opinions! so a while back i had tried to apply for an amex card and a chase card, i currently have a cc and debit card through my credit union but wanted a different cc, a well know one that when it shows up on credit reports and inquiries it might look better plus i only had a limit of 250, im only 21, with limited history, ive had the cc and a car loan for about 1 1/2 year, but about maybe 2-3 months ago i applied and was declined twice so i just said the heck with it i don't need it, well needless to say i applied today for the zync card, and to my instant suprise i was approved within seconds, they gave me a temporary cc # and everything, i have a temporary limit of 500 which is already more than my current cc through my credit union, i though that was interesting, never been approved instantly like that, im so excited, my dad can't even get an AMEX card haha, im glad i finally got the card i wanted, i don't know how to check my CL or if i have to wait until i get the card to check what it is exactly but im stoked!

Re: GOT APPROVED FOR AMEX ZYNC!!

gavinamstar — Sat, 05 Nov 2011 07:46:46 GMT

congrats. what were your scores at the time and did you have any negatives on your report when you applied?

Re: GOT APPROVED FOR AMEX ZYNC!!

Anonymous — Sat, 05 Nov 2011 08:54:13 GMT

Very good! congrats

Re: GOT APPROVED FOR AMEX ZYNC!!

Anonymous — Sat, 05 Nov 2011 11:01:48 GMT

Congrats! Would be nice to know the score and the income you entered

Re: GOT APPROVED FOR AMEX ZYNC!!

Anonymous — Sat, 05 Nov 2011 13:29:44 GMT

Congrats and welcome to the AMEX family!

Don't know about the OP, but I was instantly approved for the Zync with NPSL and my stated income was ~$12,000 (student- part time job) and my scores were low 700s.

Re: GOT APPROVED FOR AMEX ZYNC!!

bronxbomerss2 — Mon, 07 Nov 2011 03:49:10 GMT

i honestly don't know my score but my income from there options they gave was from 0-40k, im a student with a full time job and go to school full time, they initially declined me idk 3-4 months back maybe less but gave it a shot and was approved, before though i had a bunch of hard inquiries so that didn't help so i stopped for a while and now should be getting my card this week im guessing and it said when i get my card it will have my spending limit on there, but for now i have no idea, im just going to wait until i get it in the mail, i don't need the money just a nice card to have incase i run into any trouble, what should be my limit on usage , like us 30% of whats available to me? Thanks!

Re: GOT APPROVED FOR AMEX ZYNC!!

boomhower — Mon, 07 Nov 2011 09:52:33 GMT

It doesn't matter how much you spend. If you do have a spending limit you can use 99% of it and it won't matter with most scoring formula's, with TU98 being the excdeption. It's a charge card and not a credit card so it doesn't county into utlilzation of modern scoring methods.

Re: GOT APPROVED FOR AMEX ZYNC!!

CS800 — Mon, 07 Nov 2011 13:34:47 GMT

TU98 will factor all your charge card balance and mix it with your revolvers and that will make your util go up. I'm the living proof of that. Lost 8 points on TU this months and the only thing was the AMEX balance that was added up to my credit card balance

Re: GOT APPROVED FOR AMEX ZYNC!!

Anonymous — Mon, 07 Nov 2011 15:55:21 GMT

Congrats, and welcome to the AMEX family! It sounds like you're off to a good start!

Re: GOT APPROVED FOR AMEX ZYNC!!

nomoore — Mon, 07 Nov 2011 16:18:03 GMT

@bronxbomerss2 wrote:
i don't need the money just a nice card to have incase i run into any trouble, what should be my limit on usage , like us 30% of whats available to me?

Just making sure you know this: The AMEX Zync card is NOT a CREDIT card. It is a CHARGE card that you have to pay in full (pay it off) every month. You can't carry a balance from month to month.

It just sounded like maybe you were thinking that you could use it to borrow money for a few months if you need to for some reason. We don't want you to mess up your credit because you were uninformed.

Re: GOT APPROVED FOR AMEX ZYNC!!

bronxbomerss2 — Fri, 11 Nov 2011 04:16:04 GMT

oh no im well aware that i have to pay it off in full each month, i never carry a balance EVER, if i don't have it i don't spend it, as simple as that for me anyways being a college student and all but i got my card today, i went oline and activated it and i have no preset spending limit, its nice to have a major card on me now but i also have one other CC from my CU just incase some places don't take AMEX although it seems like most do nowadays , thanks for all the info everyone!