topic Re: Question About Zync Auto-Pay in Credit Cards

Question About Zync Auto-Pay

mAndrew1980 — Thu, 17 Nov 2011 20:43:51 GMT

I know a lot of people here have the Amex Zync auto-pay card with a 500CL. I'm assuming they automatically debit your checking account each month when the bill is due. Can Amex see exactly how much money you have in there? Do you need to have a set amount? Just curious as I'm hoping to get this card in the relatively near future.

Re: Question About Zync Auto-Pay

sandsanta — Thu, 17 Nov 2011 20:46:20 GMT

Well you need to have the amount to cover the draft or your bank may decline it. Amex won't have visibility into the account unless you sign up with their money manager product but I'm pretty sure you don't want to be in a position where the draft gets declined.

Re: Question About Zync Auto-Pay

Anonymous — Thu, 17 Nov 2011 20:51:49 GMT

Agreed. It's just like setting up something like Netflix or any other auto pay. You're just giving them permission to withdraw the funds automatically. I was approved for this version of the ZYNC card and they send a disclosure statement regarding the auto pay. This was in it.

Re: Question About Zync Auto-Pay

mAndrew1980 — Thu, 17 Nov 2011 21:03:41 GMT

Okay so it's not a secured card and they do not have access to view how much you have in there. They just automatically debit your account when your bill is due. So we just need to provide Amex with our checking account and routing number.

Re: Question About Zync Auto-Pay

sandsanta — Thu, 17 Nov 2011 21:14:34 GMT

No its not 'secured' in the traditional sense that you provide collateral up front. However they do watch that account like a hawk.

Re: Question About Zync Auto-Pay

mAndrew1980 — Thu, 17 Nov 2011 21:33:56 GMT

Haha I'm sure they do watch it like a hawk! When I get my Amex, I'll probably buy like 1 banana a month on it for .59 and pay it in full immediately LOL.

Re: Question About Zync Auto-Pay

dude11 — Thu, 17 Nov 2011 21:39:20 GMT

If you get offered the $500 limit with AutoPay you enter your bank account number and routing number. Then when the statement closes if there is a balance on there, then whatever the balance is at the time the statement closes is what will automatically get withdrawn from your bank account.

If you make purchases after the statement closes and you have a previous balance, Amex will still automatically withdraw whatever the balance was when it closed and not what the new balance is.

If you make the payment manually before the autopay kicks in, then the auto pay basically cancels itself for that month and don't have to worry about being charged automatically.

Hope this helps

Re: Question About Zync Auto-Pay

Anonymous — Thu, 17 Nov 2011 22:32:45 GMT

Im sure they do watch these accounts like a hawk. I'd say that with responsible use, and regular payments so that the autopay is not necessary, that within 6 or so months they'll take off the PSL and autopay requirement.

Re: Question About Zync Auto-Pay

mAndrew1980 — Fri, 18 Nov 2011 02:15:49 GMT

I am tempted to app right now. I can spare an inq on EX. Plus EX is my cleanest report. My true FICO should be between 680-700. I'm unlikely to get approved out-right but I think the auto-pay offer is realistic. I was an AU on Amex several years back so there is some history.

One negative is my longest current active trade line is only 9 months (Capital One). I just activated a second Cap1 card but it hasn't hit my CR's yet. Truth be told, I dont NEED an Amex Zync now -- so I know I shouldn't apply if I don't need it. And by Spring I should have a solid enough CR to qualify for the regular Zync (among other prime cards) BUT I WANT THE WHITE AMEX CARD SO BAD!!!!

Haha It's so tough gardening!

Re: Question About Zync Auto-Pay

sandsanta — Fri, 18 Nov 2011 02:49:58 GMT

Don't do it and wait until spring. By then you'll have established over a year of credit and you'll almost be guaranteed with a chance for NPSL. Plus by then it will be that much more satisfying

Re: Question About Zync Auto-Pay

mAndrew1980 — Fri, 18 Nov 2011 02:59:31 GMT

You are so right. Haha, I'll hold off!

Re: Question About Zync Auto-Pay

Anonymous — Tue, 08 May 2012 05:01:06 GMT

@mAndrew1980 wrote:
You are so right. Haha, I'll hold off!

well? its spring time, did you apply?

Re: Question About Zync Auto-Pay

Anonymous — Tue, 08 May 2012 17:42:49 GMT

I've never heard of this Zyng Auto-Pay deal. Is this designed for people with good, but not excellent credit?

Re: Question About Zync Auto-Pay

pizzadude — Tue, 08 May 2012 17:46:52 GMT

@Anonymous wrote:
I've never heard of this Zyng Auto-Pay deal. Is this designed for people with good, but not excellent credit?

It's a counter~offer that some people receive when they are declined for the NPSL Zync card. A Zync with either $200 Hard Limit ( no autopay ) or $500 ( w autopay ), your choice.

Re: Question About Zync Auto-Pay

webhopper — Tue, 08 May 2012 17:52:18 GMT

If you haven't apped for Zync yet, I would go for it

Re: Question About Zync Auto-Pay

Denny33142 — Tue, 08 May 2012 17:54:25 GMT

I have had the Zync with autopay for 8 months now but the $500 limit has not been lifted yet.

Though i have noticed that amex has been softing my experian quite a lot in the past 3 months.

Re: Question About Zync Auto-Pay

webhopper — Tue, 08 May 2012 17:55:07 GMT

@Denny33142 wrote:
I have had the Zync with autopay for 8 months now but the $500 limit has not been lifted yet.

Though i have noticed that amex has been softing my experian quite a lot in the past 3 months.

hehe, its like they are trying to see if you're ready to join the NPSL crowd

Re: Question About Zync Auto-Pay

espnjunkie — Tue, 08 May 2012 21:59:59 GMT

Word of caution...while it is possible for them to lift the 500.00 autopay or 200.00 hard cap w/o autopay Amex is under no obligation to lift it ever unless they see fit. There is no "it will be lifted in 6 months, a year, 2 years, etc" guaranty. While it can be great to get 'in' with Amex, it is better to apply from a position of strength than to eek in with marginal qualifications. Aka wait 6 months and then apply once scores are higher and chances for npsl approval go up

Re: Question About Zync Auto-Pay

Revelate — Wed, 09 May 2012 00:05:50 GMT

@webhopper wrote:
If you haven't apped for Zync yet, I would go for it

*grumble* mon amie, you're not making this any easier for some of us!

Re: Question About Zync Auto-Pay

Anonymous — Wed, 23 May 2012 00:50:36 GMT

@pizzadude wrote:
@Anonymous wrote:
I've never heard of this Zyng Auto-Pay deal. Is this designed for people with good, but not excellent credit?
It's a counter~offer that some people receive when they are declined for the NPSL Zync card. A Zync with either $200 Hard Limit ( no autopay ) or $500 ( w autopay ), your choice.

Hi Pizzadude,

My sister was just approved for an American Express Zync card and selected the $200 hard limit as she wanted more control of when she could pay instead of having the statement balance be automatically debited from her checking account. I understand from reading past threads that you also have an AMEX Zync card with a $200 hard limit without autopay. Have you received a credit limit increase or have you been upgraded to NPSL status with your AMEX Zync card if I may ask? Thanks so much for your reply!

Also, if anyone else on the forums has an American Express Znyc card with a $200 hard limit without auto pay, please feel free to chime in.