topic Re: Zync rewards? in Credit Cards

Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:04:40 GMT

So I was looking at the Zync reward structure - for most regular purchases, you get the 1 MRE for per dollar. And, for example, a $50 gift card costs 10k MRE points.

So by that logic, each point is worth $50/10000 = $0.005? Which is the equivalent to 0.5% cash back?

I thought I've kept reading how it was supposed to have decent rewards, but that doesn't seem good to me at all... maybe I'm missing something?

Re: Zync rewards?

laboi_22 — Fri, 27 Jan 2012 03:11:56 GMT

10k for a $50 gift card? I just bought a gift card with my MRE points and it cost me 5k points. 5000 points = $50 gift card which equals 1% rewards.

Re: Zync rewards?

Guava — Fri, 27 Jan 2012 03:14:29 GMT

You're not missing anything, the rewards for Zync is lackluster. You can accumulate points at different rate from the add-on packs but the redeem rate is not very favorable. To me it's simply a card to get in the door with AMEX; although it does carry the benefit of AMEX cards such as extended warranty, travel insurance, etc.

Re: Zync rewards?

laboi_22 — Fri, 27 Jan 2012 03:21:00 GMT

I don't agree. Not sure where you got that it costs 10K points for a $50 GC. The only thing the MRE points don't do that regular MR points do is transfer to frequent flyer programs. I love my Znyc card. Althought it is noted that it depends on what you redeem. If you redeem AMEX gift cards you get less bang for the buck but all general gift cards ie Gap etc is at a rate of 10K = $100. You can even pay with points for travel.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:23:30 GMT

@Guava wrote:
You're not missing anything, the rewards for Zync is lackluster. You can accumulate points at different rate from the add-on packs but the redeem rate is not very favorable. To me it's simply a card to get in the door with AMEX; although it does carry the benefit of AMEX cards such as extended warranty, travel insurance, etc.

Literally the only reason I applied and pay the annual fee. If it wasn't an AMEX, I wouldn't bother with it, especially with the AF.

I plan on dumping the Zync shortly after I get an AMEX revolver.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:28:16 GMT

That's what the membership rewards site was showing me - 10000 points for a $50 Amex gift card. 5000 points for $25. So I'm not sure where $50 for 5000 comes from?

Regardless, even at that rate it would be only 1% cash back. Which isn't awful, but it's not fantastic either. Basically all cash back cards offer at least that.

I mean I didn't get the card for the rewards, so I'm not all that disappointed. But I'm just surprised that I've heard that the rewards are "good" when they seem average at best.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:29:50 GMT

@Anonymous wrote:
@Guava wrote:
You're not missing anything, the rewards for Zync is lackluster. You can accumulate points at different rate from the add-on packs but the redeem rate is not very favorable. To me it's simply a card to get in the door with AMEX; although it does carry the benefit of AMEX cards such as extended warranty, travel insurance, etc.

Literally the only reason I applied and pay the annual fee. If it wasn't an AMEX, I wouldn't bother with it, especially with the AF.

I plan on dumping the Zync shortly after I get an AMEX revolver.

Exactly the same for me, that's why I applied for it, to give me a chance to get a BCE/BCP easier later on.

However, I figured if I have it, I might as well use it, right? Except the rewards aren't any better than what I already get.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:32:12 GMT

@Anonymous wrote:
@Anonymous wrote:
@Guava wrote:
You're not missing anything, the rewards for Zync is lackluster. You can accumulate points at different rate from the add-on packs but the redeem rate is not very favorable. To me it's simply a card to get in the door with AMEX; although it does carry the benefit of AMEX cards such as extended warranty, travel insurance, etc.

Literally the only reason I applied and pay the annual fee. If it wasn't an AMEX, I wouldn't bother with it, especially with the AF.

I plan on dumping the Zync shortly after I get an AMEX revolver.

Exactly the same for me, that's why I applied for it, to give me a chance to get a BCE/BCP easier later on.

However, I figured if I have it, I might as well use it, right? Except the rewards aren't any better than what I already get.

Haha the BCE is exactly what I have my eyes on.

And I already cashed out my rewards for Battlefield 3 for my PS3.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:34:20 GMT

I bought BF3 when it came out, got bored of it within a month. MW3, I got bored of within a week.

Maybe I'll just use the points for a gift card and buy some Starbucks or something. I guess with it being worth $50, at least it pays for the $25 AF.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:38:26 GMT

@Anonymous wrote:
I bought BF3 when it came out, got bored of it within a month. MW3, I got bored of within a week.

Maybe I'll just use the points for a gift card and buy some Starbucks or something. I guess with it being worth $50, at least it pays for the $25 AF.

I preorderd MW3 from Amazon months before it came out, but never got around to getting BF3, so I figured I'd get it now. I like MW3 better...but I probably play Black Ops more than both of them combined.

My second choice was going to be a Walmart giftcard, but I decided groceries would be a pretty lame thing to spend my rewards points on.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:45:32 GMT

If you shop at Walmar often then the Zync is probably one of the better options as you get Double points on all purchases if you have the (free) Eco Pack!

Re: Zync rewards?

Revelate — Fri, 27 Jan 2012 03:48:20 GMT

@Anonymous wrote:
That's what the membership rewards site was showing me - 10000 points for a $50 Amex gift card. 5000 points for $25. So I'm not sure where $50 for 5000 comes from?

Regardless, even at that rate it would be only 1% cash back. Which isn't awful, but it's not fantastic either. Basically all cash back cards offer at least that.

I mean I didn't get the card for the rewards, so I'm not all that disappointed. But I'm just surprised that I've heard that the rewards are "good" when they seem average at best.

I think it's a matter of perspective Andy: the rewards are "good" for those of us who just qualify for a Zync card... as the majority of cards you can get before that (maybe Discover More is an exception?) have rewards of, zip, zero, and swabo respectively.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:49:55 GMT

FloridaState12 wrote:

I preorderd MW3 from Amazon months before it came out, but never got around to getting BF3, so I figured I'd get it now. I like MW3 better...but I probably play Black Ops more than both of them combined.

My second choice was going to be a Walmart giftcard, but I decided groceries would be a pretty lame thing to spend my rewards points on.

I used to be a big fan of FPS's but they've just been a letdown to me recently. Not sure why, I guess it just feels like pointless repetition. Plus right now I'm too busy to really play games that much, since I'm "supposed to" be doing homework in my free time.

I like getting cash back on my purchases, but it's not like it ever amounts to that much. I realized I had accumulated another $60 in rewards on my NFCU card, and I was excited - until I realized that means I've spent $6k on random junk in the past few months. Kind of takes the fun away for me.

Not really sure what I plan to do with the points from the Zync, I guess I can just get a prepaid card and give it to my little sister so she can run to Panera with her boyfriend. I'm trying to get her used to using cards to pay for things (instead of cash), but so far she's just aggravatingly stubborn. (Big surprise, she's 15..)

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:51:12 GMT

@Revelate wrote:
@Anonymous wrote:
That's what the membership rewards site was showing me - 10000 points for a $50 Amex gift card. 5000 points for $25. So I'm not sure where $50 for 5000 comes from?

Regardless, even at that rate it would be only 1% cash back. Which isn't awful, but it's not fantastic either. Basically all cash back cards offer at least that.

I mean I didn't get the card for the rewards, so I'm not all that disappointed. But I'm just surprised that I've heard that the rewards are "good" when they seem average at best.
I think it's a matter of perspective Andy: the rewards are "good" for those of us who just qualify for a Zync card... as the majority of cards you can get before that (maybe Discover More is an exception?) have rewards of, zip, zero, and swabo respectively.

Oh don't get me wrong, I don't have any fantastic rewards. My cashRewards card gives me 1% cash back (probably 1.5% soon once I hit the $10k threshold).

But what I mean is that even terrible Cap One cards give you 1-2% for purchases..

Re: Zync rewards?

Revelate — Fri, 27 Jan 2012 03:58:06 GMT

@Anonymous wrote:
But what I mean is that even terrible Cap One cards give you 1-2% for purchases..

Can you get those Cap One rewards cards though at a 640ish FICO, or 10 months credit history? I've seen Zync approvals here around those points.

Plus, to be perfectly honest, the Zync has so much more longer-term upside than any Cap One card (the foreign purchasing one excepted) it's a moderately ridiculous comparison in my opinion . That's especially true for those of us building from nothing.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:57:39 GMT

It's all how you work the points. I got 600 MR points for buying my wife $60 flowers. I get about 800 MR points for paying cable, and cell. 2,100 points for a new computer that cost $700 bucks. If I wanted to I could triple points at green restaurants (eco, restaurant packs). I just buy crap that I used to buy with my debit card... No external extravagant spending needed. I consider points earned as a forced savings plan for the 2012 holidays! If you use it to your benefit you can exceed 2,3, or 4% back!

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 03:58:48 GMT

@Anonymous wrote:
@Anonymous wrote:

I preorderd MW3 from Amazon months before it came out, but never got around to getting BF3, so I figured I'd get it now. I like MW3 better...but I probably play Black Ops more than both of them combined.

My second choice was going to be a Walmart giftcard, but I decided groceries would be a pretty lame thing to spend my rewards points on.

I used to be a big fan of FPS's but they've just been a letdown to me recently. Not sure why, I guess it just feels like pointless repetition. Plus right now I'm too busy to really play games that much, since I'm "supposed to" be doing homework in my free time.

I like getting cash back on my purchases, but it's not like it ever amounts to that much. I realized I had accumulated another $60 in rewards on my NFCU card, and I was excited - until I realized that means I've spent $6k on random junk in the past few months. Kind of takes the fun away for me.

Not really sure what I plan to do with the points from the Zync, I guess I can just get a prepaid card and give it to my little sister so she can run to Panera with her boyfriend. I'm trying to get her used to using cards to pay for things (instead of cash), but so far she's just aggravatingly stubborn. (Big surprise, she's 15..)

Yeah I think I'm just getting more mature lol. I used to be able to play COD hours and hours on end but now it's just not a priority for me...I never thought I'd see the day that I chose Microeconomics over COD, but alas, it has happened.

Yeah I'm almost up to $40 cash back on my Citi card...$50 and I can get a check! Wohoo! Nevermind that I've spent liek $3,000 to get that $40 lol

I have a 16 year old brother...trust me, I understand completely.

Re: Zync rewards?

Anonymous — Fri, 27 Jan 2012 04:03:48 GMT

The No Hassles Cash Rewards card is for 'average' credit, so it's not one of their prime cards. Gives 2% cash back on gas and groceries, 1% on everything else. Score-wise, no idea what it requires.. but I'd have to assume less than Zync does.

RE: The point accumulation, yeah, that's how I use my card too. Anything and everything I can pay on the credit card, I pay on it, and then PIF at the end of the month. So I get 1% cash back for most things, except for my rent and gas and electric bills. Pretty much everything else goes on my CC for the 1% cash back.

I'll have to look at the packs, I grabbed the eco pack and some others. The problem is that even at 2x points, that's only actually 1% cash back. So I'd have to get triple or quadruple points to really make it worthwhile.

Then again, I guess if I really wanted to get higher cash back %'s from Amex, I'd have to have a BCP.

Re: Zync rewards?

bichonmom — Fri, 27 Jan 2012 05:30:38 GMT

I did the math on Zync's cable/cell phone pack, and I figured out that if I paid all of my related bills with Zync, when you add in the cost of the $20 pack, I'd just break even in 1 yr.

I also would only get Zync to earn my way towards the Costco and BCE.

Personally, I wasn't impressed with Zync's rewards, either. But I think a lot of people here get the card as a first step with Amex.

I think it's relative. Like you, I'm earning 1% w/NFCU, so everything else is going to be compared to that, and will have to beat it for me to put money on that card (or app for it).

I earned around $29 in rewards the last 2 mos, but that was putting almost all living expenses I could on it. Can't wait to cash that in next month!

Re: Zync rewards?

improvingmycredit — Fri, 27 Jan 2012 06:00:16 GMT

@Anonymous wrote:
It's all how you work the points. I got 600 MR points for buying my wife $60 flowers. I get about 800 MR points for paying cable, and cell. 2,100 points for a new computer that cost $700 bucks. If I wanted to I could triple points at green restaurants (eco, restaurant packs). I just buy crap that I used to buy with my debit card... No external extravagant spending needed. I consider points earned as a forced savings plan for the 2012 holidays! If you use it to your benefit you can exceed 2,3, or 4% back!

Like any rewards program, it is only as good as you make it. I signed up for all the free packs and the "connect pack". Paying all my internet, directv, cell bills alone more then makes up for the cost of the pack and annual fee. (I will net off these bills alone $20 afer paying the annual fee not including any other spending or dbl points from the free packs) I anticipate that I will earn about a good $200+ in rewards this year on this card alone. I got nothing using my debit card.