topic Re: Amex Zync Credit Score Requirements.. in Credit Cards

Amex Zync Credit Score Requirements..

Tommy5746 — Fri, 10 Feb 2012 00:04:18 GMT

Based on everybody's knowledge... What Credit score would you say Amex usually looks for when applying for the Zync card? I've heard of possible low 6's but I find that hard to believe as its still an Amex..

Re: Amex Zync Credit Score Requirements..

Anonymous — Fri, 10 Feb 2012 00:19:27 GMT

Anywhere from 650-850. They dont use fico scores, instead using their own system. People with very high scores have been approved. People with 650's have been approved. If you can get a zync you can get any charge card so apply for the one you want.

Re: Amex Zync Credit Score Requirements..

pizzadude — Fri, 10 Feb 2012 00:44:55 GMT

Don't focus on your credit score when applying with AMEX. They are quirky, and routinely deny people with scores over 700, but sometimes people can get approved for charge cards with scores much lower than that.

When you apply, if you have negatives or lates, they need to be several years old at least, AMEX doesn't like recent derogatory remarks. You should have at least a year of good credit history as well, and don't apply when your cards are maxed out.

Starting with the ZYNC card is a good idea, it is certainly much easier to get than the revolvers.

Re: Amex Zync Credit Score Requirements..

CS800 — Fri, 10 Feb 2012 00:45:51 GMT

@Anonymous wrote:
Anywhere from 650-850. They dont use fico scores, instead using their own system. People with very high scores have been approved. People with 650's have been approved. If you can get a zync you can get any charge card so apply for the one you want.

Re: Amex Zync Credit Score Requirements..

Anonymous — Fri, 10 Feb 2012 02:49:26 GMT

For reference, I had a 700-710 for Experian when I applied for Amex last month. I got denied. My score went down to 695 after that.

I haven't had a revolving account for more than a year yet (oldest was CapOne from Feb 2011) and my credit limits on all of my accounts were not high enough.

Re: Amex Zync Credit Score Requirements..

ArisGreek — Fri, 10 Feb 2012 02:50:37 GMT

That's not true about if you can get Zync you can get any card. I've commented on this a number of times. Zynch is one tier of charge card and the remaining 4 are another tier.

Re: Amex Zync Credit Score Requirements..

Anonymous — Fri, 10 Feb 2012 03:02:48 GMT

@ArisGreek wrote:
That's not true about if you can get Zync you can get any card. I've commented on this a number of times. Zynch is one tier of charge card and the remaining 4 are another tier.

I disagree. CreditAddict has many, many posts from many beginners proving if you can get 1 you can get any other. As ive said before, they can place a 500 limit on zync just as easy as they can platinum. Your paying for benifits. Unless its the auto bill pay zync you should be able to get any of them.

Re: Amex Zync Credit Score Requirements..

JusdoNit — Fri, 10 Feb 2012 03:41:04 GMT

@Anonymous wrote:
For reference, I had a 700-710 for Experian when I applied for Amex last month. I got denied. My score went down to 695 after that.

I haven't had a revolving account for more than a year yet (oldest was CapOne from Feb 2011) and my credit limits on all of my accounts were not high enough.

I feel your pain

Re: Amex Zync Credit Score Requirements..

Revelate — Fri, 10 Feb 2012 06:43:24 GMT

@Anonymous wrote:
@ArisGreek wrote:
That's not true about if you can get Zync you can get any card. I've commented on this a number of times. Zynch is one tier of charge card and the remaining 4 are another tier.
I disagree. CreditAddict has many, many posts from many beginners proving if you can get 1 you can get any other. As ive said before, they can place a 500 limit on zync just as easy as they can platinum. Your paying for benifits. Unless its the auto bill pay zync you should be able to get any of them.

From everything I've read, they generally don't counter-offer on the other charge cards. On Zync they do, either with the $500 dollar limit, the autopay, the partially secured, etc.

It is also an unequivocal fact that Amex does consider the Zync a different tier of charge cards; however, with their approval process being as infamously quirky as it is, I strongly suspect that those stating they're all similarly easy to get may not be quite accurate. Everyone's mileage will vary, especially with Amex, but when I do try for an Amex charge card at the end of 2012, when I'm guarunteed to be borderline at best, I will definitely be applying for a Zync and hoping for a counter offer.

Re: Amex Zync Credit Score Requirements..

improvingmycredit — Fri, 10 Feb 2012 07:13:44 GMT

From everything I've read, they generally don't counter-offer on the other charge cards. On Zync they do, either with the $500 dollar limit, the autopay, the partially secured, etc.

It is also an unequivocal fact that Amex does consider the Zync a different tier of charge cards; however, with their approval process being as infamously quirky as it is, I strongly suspect that those stating they're all similarly easy to get may not be quite accurate. Everyone's mileage will vary, especially with Amex, but when I do try for an Amex charge card at the end of 2012, when I'm guarunteed to be borderline at best, I will definitely be applying for a Zync and hoping for a counter offer.

Zync is marketed as a card for individuals with limited credit and thus so, I am certain has different approval criteria. I don't know of one single other charge product from Amex that can be approved with a $500 or $250 credit limit with a direct payment account tied to it for approval requirement. Not to mention that the Zync can't be PC'd to another charge product. JMHO. I have also seen situations where individuals on an app spree where approved for each charge product - zync, green, gold then denied for Platnium. There has to be some hierachy besides AF for these cards. Just some thoughts on the subject.

Re: Amex Zync Credit Score Requirements..

Open123 — Fri, 10 Feb 2012 15:36:40 GMT

@Tommy5746 wrote:
Based on everybody's knowledge... What Credit score would you say Amex usually looks for when applying for the Zync card? I've heard of possible low 6's but I find that hard to believe as its still an Amex..

If they don't have any data on you, I'd say they're looking for the 680 + range, give or take.

If they do have extensive data on you, then your scores aren't relevant (assuming no bks, recent derogoties, massive outstanding debt) so long as you have a minimum of 6 month history with some revolving credit.

It appears to me that if you qualify for the Zync, you'll qualify for the Green or Gold. I'd imagine the Platinum may have a slightly higher income requirement, but are awfully similar. Tanner is correct that they could just as easily place a low limit on a Platinum as they can a Zync. I'm sure there are many Zyncs out there that has a much higher NPSL than many Platinums.

Either way, good luck!

Re: Amex Zync Credit Score Requirements..

espnjunkie — Fri, 10 Feb 2012 16:19:21 GMT

Their thought is that why would a person want to apply for cards with significantly higher annual fees if they did not have the income to back it up. 95/125/175/450 are significantly more expensive fees than the Zync so they are self selecting to an extent. While the requirements for any of them may be very similar, it is doubtful that there are many people that will spend $450.00 per year for annual fees on one card if they do not have a high income. There are exceptions of course, but most people would consider that annual fee to be too expensive to justify.

I just got the green, and the more I think about it I don't really know if it makes sense to upgrade it in a year. The difference between green and gold is very little. If you use the AMEX online store catalogue you can get most of the 3X point bonuses you would get from PR Gold anyways, so what are you really paying extra for? The spending power of the cards is not related to what color they are either.

Re: Amex Zync Credit Score Requirements..

Tommy5746 — Fri, 10 Feb 2012 17:57:03 GMT

The more I think about it... An Amex charge card, or any charge card for that matter seems almost dangerous. We all love to think we are financially secure and you shouldn't have a credit card unless you are BUT not having the ability to roll your payment over to the next month in case you run into a financial crisis is almost stupid. Granted, like I said before you shouldn't be charging more than you can afford but still.. Why would anybody want to restrict themselves like that? of course charge cards offer rewards etc.. Maybe its just me being paranoid

Re: Amex Zync Credit Score Requirements..

espnjunkie — Fri, 10 Feb 2012 18:05:01 GMT

You don't charge more than you can afford though because it is a charge card. If there is any doubt about being able to pay in full you wouldn't make the purchase with one. AMEX also requests information regarding your bank account assets. Charge cards are like debit cards that offer you far greater rewards, spending power, build your credit, discounts, benefits, etc. The same can be said about making monthly payments on a revolver, so I don't really buy the "what about unforseen financial hardship" argument as it being any greater for a charge card. Also you can always call AMEX and explain the situation. They can offer flexible payment ooptions in that case.