topic Re: amex zync $200 limit - spending questions in Credit Cards

amex zync $200 limit - spending questions

Lambo23 — Mon, 14 May 2012 03:57:41 GMT

I have the zync card with the $200 limit which is great because now I got my foot in the door with amex BUT I want to use this for everyday use and rack up the points!

- Will amex get mad if I put a good $1500 a month through the card? I would just push the money from my bank account to my amex account so in a sense I'm prepaying it all but I wonder if they will be upset because of heavy use on a $200 limit card?

- It is $15/yr per AU card and I am thinking about getting my family member one to get more points adding up. They would be using it for groceries about 1000$ a month. I would do the same thing and push the money from my bank over to the card before purchases. Will this still give me the points even if its an AU using the card? OR should I just let them use my card when they go and buy groceries, ect.? I have the eco pack and it would be 2x points for groceries!

Is this okay to do to earn more points?

Re: amex zync $200 limit - spending questions

bichonmom — Mon, 14 May 2012 04:16:34 GMT

The rewards with Zync aren't that great. If it were me, I wouldn't do what you're talking about. You could be fine, but I wouldn't risk it. I think using a $200 CL that much and pushing that many pmts thru each month is like waving a big, red flag asking for trouble. There's a reason they only approved you for a $200 limit. Maybe 2 pmts a month or so, but no way would I do $1500. Just my 2c.

Re: amex zync $200 limit - spending questions

ILBrian — Mon, 14 May 2012 04:20:28 GMT

I don't see this as a "red flag" at all... I see it as an attempt to use the card - however the rewards are not that great as stated... and would be better perhaps pushing your business through a better rewards card...If you do end up doing this after a few months call amex and have them review your history to try to get the limit lifted

Re: amex zync $200 limit - spending questions

RyVision — Mon, 14 May 2012 04:29:29 GMT

I have to second what Bichonmom posted. If you like being with AMEX enough to do that, don't do something to risk them closing your account. After 6 months or so of normal use, they may remove the limit. Rome wasn't built in a day, nor is history with AMEX. Drawing attention to your account is about the last thing you want to do with AMEX really. The ZYNC's rewards really aren't worth it. You mentioned it yourself with this: "I got my foot in the door with AMEX"....

The card you might be interested in getting as a goal down the road would be the BCP, considering the info and usage you mentioned, though it's not an easy card to get compared to the ZYNC with a hard limit. In time however, it's much more possible after AMEX feels comfortable with you.

Re: amex zync $200 limit - spending questions

Lambo23 — Mon, 14 May 2012 04:44:51 GMT

Basically I would be getting points for things my family member is buying. So I am thinking free points for a good year and possibly PC or upgrade(if they dont PC) to the green since I dont travel and it would exchange MRE points for regular MR points. BUT I would mostly be using them for a vacation once a year. So I don't think MRE vs MR points matters when it comes to booking through amex travel site. Is this correct?

As far as the $200 limit - this is what I was offered(or the 500$ auto pay) because my credit reports/scores are low. mid 600's with a few lates from a couple years ago and one collection. Not because they don't think I can afford to pay them. If I am literally pushing money over to the card before purchases, why would amex be upset I wonder? I see how it looks weird but I mean what if I just love the card and want to use it? They are getting their money before I even use it! I might just call and ask.

Everyone is saying the zync's rewards are not great. what are you comparing this too? If it is being compared to the other charge cards amex offers than what are the differences in rewards besides the points to miles?

Re: amex zync $200 limit - spending questions

RyVision — Mon, 14 May 2012 04:48:51 GMT

@Lambo23 wrote:
Basically I would be getting points for things my family member is buying. So I am thinking free points for a good year and possibly PC or upgrade(if they dont PC) to the green since I dont travel and it would exchange MRE points for regular MR points. BUT I would mostly be using them for a vacation once a year. So I don't think MRE vs MR points matters when it comes to booking through amex travel site. Is this correct?

As far as the $200 limit - this is what I was offered(or the 500$ auto pay) because my credit reports/scores are low. mid 600's with a few lates from a couple years ago and one collection. Not because they don't think I can afford to pay them.

People have gone that route and a few have seen them remove the hard limit. I have not read of anyone saying AMEX took AA because someone pushed money onto the card a couple times a month, I wouldn't go over 3 push payments a month though just to be safe. With a few lates, a collection (even old) and mid 600 scores, what do think AMEX's computer is thinking other than limiting their risk? You might be one of the few people who would benefit from an FR in that AMEX would then see you're in a better position than their system indicates. Not saying they'll FR you, just that it sounds as though their systems built in risk avoidance is limiting you more than the facts behind your actual circumstances.

Re: amex zync $200 limit - spending questions

Revelate — Mon, 14 May 2012 04:54:16 GMT

I don't understand why anyone thinks there's a risk associated with this plan.

1) Zync rewards don't suck, as a matter of fact dependant on what you want, they're better than Green, Gold, Gold PR, or Plat. It is in my case, and probably is for anyone who doesn't travel as well.

2) Amex likes higher monthly spends: this is absolutely known as fact as they get paid with every transaction you make with the card. The more you use it, the happier Amex will be with you.

3) It's a $200 limit, it's virtually zero exposure for Amex and they know it. So what if you pay 30 times in a month if that's what it takes?

End of the day, you'll be fine. I don't think you really need to go the AU route, really you're not doing your buddy or whoever it is any favors by doing that from their credit perspective, and I think it's disengenous to hinder their ability to build / keep their credit, to goose your reward points even if you're buying them gift certificates or whatever with your points.

Re: amex zync $200 limit - spending questions

RyVision — Mon, 14 May 2012 04:54:03 GMT

If you do decide to use it the way you described and they call or contact you. Just tell them, like you've basically explained here, that you look at it a bit like a low fee pre-paid card with rewards you're interested in, that also reports to the CB's. That should satisfy any CSR.

Re: amex zync $200 limit - spending questions

Anonymous — Mon, 14 May 2012 05:03:44 GMT

Amex will love you. Out of curiosity, you have hard limit of 200 or is that what the online tool says? Haven't heard of hard limit that low. I went from Npsl of 3.5k to at least 70k in 2-3 months doing what you are proposing.

Re: amex zync $200 limit - spending questions

Lambo23 — Mon, 14 May 2012 05:07:29 GMT

Anyone want to explain the differences between MR points and MRE points? (zync versus other charge cards)

Basically it is a close family member who cannot and will not get their own card or bank account because of this persons past history.... if that explains the situation without details. They use pre paid cards as it is or just pay cash so why not let this person use my amex to maximize my rewards and give amex more money? I don't see anything wrong with that.

Maybe I will be the first to get my PSL zync to a NPSL zync.

Re: amex zync $200 limit - spending questions

Lambo23 — Mon, 14 May 2012 05:10:59 GMT

@Anonymous wrote:
Amex will love you. Out of curiosity, you have hard limit of 200 or is that what the online tool says? Haven't heard of hard limit that low. I went from Npsl of 3.5k to at least 70k in 2-3 months doing what you are proposing.

I applied online and they did not approve me for the NPSL card but gave me the option to pick from the $500 limit auto pay or the $200 limit with freedom to pay when you want before the due date. I heard of the problems going on with the auto pay option and decided to go with the $200 limit just for the freedom and in hopes amex will see my usage and payment history and upgrade me.

Re: amex zync $200 limit - spending questions

RyVision — Mon, 14 May 2012 05:48:47 GMT

@Lambo23 wrote:
Anyone want to explain the differences between MR points and MRE points? (zync versus other charge cards)

Basically it is a close family member who cannot and will not get their own card or bank account because of this persons past history.... if that explains the situation without details. They use pre paid cards as it is or just pay cash so why not let this person use my amex to maximize my rewards and give amex more money? I don't see anything wrong with that.

Maybe I will be the first to get my PSL zync to a NPSL zync.

You might be happy to know a lot of PSL Zync accounts have gone to NPSL Zync accounts over time. Sometimes within a few months, sometimes a lot longer, the average used to be after 6 months though I think they have slowed on upgrading the accounts a bit. So you don't have to worry about being the first, it's more a question of how long your wait might be.

Re: amex zync $200 limit - spending questions

webhopper — Mon, 14 May 2012 05:49:52 GMT

@Lambo23 wrote:
Anyone want to explain the differences between MR points and MRE points? (zync versus other charge cards)

Basically it is a close family member who cannot and will not get their own card or bank account because of this persons past history.... if that explains the situation without details. They use pre paid cards as it is or just pay cash so why not let this person use my amex to maximize my rewards and give amex more money? I don't see anything wrong with that.

Maybe I will be the first to get my PSL zync to a NPSL zync.

I would not add an au unless you are prepared to pay for everything they charge... there's probably a good reason why this person doesn't have the ability to get a checking account; probably involves a multitude of poor decisions. I would pose this portion or your question in the Relationships and Money forum.

Re: amex zync $200 limit - spending questions

Lambo23 — Mon, 14 May 2012 05:57:49 GMT

@RyVision wrote:
@Lambo23 wrote:
Anyone want to explain the differences between MR points and MRE points? (zync versus other charge cards)

Basically it is a close family member who cannot and will not get their own card or bank account because of this persons past history.... if that explains the situation without details. They use pre paid cards as it is or just pay cash so why not let this person use my amex to maximize my rewards and give amex more money? I don't see anything wrong with that.

Maybe I will be the first to get my PSL zync to a NPSL zync.

You might be happy to know a lot of PSL Zync accounts have gone to NPSL Zync accounts over time. Sometimes within a few months, sometimes a lot longer, the average used to be after 6 months though I think they have slowed on upgrading the accounts a bit. So you don't have to worry about being the first, it's more a question of how long your wait might be.

Really??? that is GREAT to hear!! I have never heard of this. Everything I have read says that this was only a myth and maybe a few accounts have been upgraded(ive yet to read about any) but other than that I would need to wait 13 months and do a PC or apply for a different card. Hm..

Re: amex zync $200 limit - spending questions

GST2008 — Mon, 14 May 2012 12:44:22 GMT

I have always made multiple payments to my account and never suffered any adverse consequences. I have the Business Gold, but often pay weekly on it as a personal preference ... there is just something about seeing a huge balance due at the end of the month that I don't like. When the account was first opened, I had to push the payments through the bank. I think after the first month, I was able to make multiple payments right through AMEX's website. Once your account is about a month old, you should be able to do them all on the site instead of using billpay through the bank. You generally have to wait about 24hrs or so between payments before you can post another payment (as the first payment has to clear before another can be posted).

As long as making all those payments and pre-planning all the purchases to be under the $200.00 limit doesn't stress you out, then I'd say go for it. My own concern would be regarding how much planning it would take to make sure you could make your purchases and your AU could make his/her purchases without them going over $200.00, then paying, and repeating the process on a basis of multiple times each week. That could be very time consuming and stressful.

Re: amex zync $200 limit - spending questions

pizzadude — Mon, 14 May 2012 14:41:13 GMT

Here's my experience with the $200 Hard Limit card ~ I have had it open since November 2011, and it still has the same $200 limit.

I typically run around $1500/month thru my Zync, and I've never had any issues with AMEX regarding it. I pay at least once a week, sometimes more often depending on what I am purchasing. The AMEX computer bill pay is great, it restores my available credit immediately as soon as I submit the payment online.

I really don't think they'll care how much you spend as long as you pay....and the $200 limit makes sure that you have to do it early and often...

Re: amex zync $200 limit - spending questions

espnjunkie — Mon, 14 May 2012 14:43:21 GMT

I agree with other posters. Don't rock the boat with amex early on or you are heading for trouble. Also the Zync's rewards are not that great to justify such heavy spending on it and pushing so many paymentys per month. The real value of full MR points (not express) is that they can be converted to frequent flier programs often at a nice conversion bonus (50% bonus on British Airways right now).

Re: amex zync $200 limit - spending questions

TeeandDee — Mon, 14 May 2012 16:42:04 GMT

@Lambo23 wrote:
@Anonymous wrote:
Amex will love you. Out of curiosity, you have hard limit of 200 or is that what the online tool says? Haven't heard of hard limit that low. I went from Npsl of 3.5k to at least 70k in 2-3 months doing what you are proposing.
I applied online and they did not approve me for the NPSL card but gave me the option to pick from the $500 limit auto pay or the $200 limit with freedom to pay when you want before the due date. I heard of the problems going on with the auto pay option and decided to go with the $200 limit just for the freedom and in hopes amex will see my usage and payment history and upgrade me.

I haven't had a problem with auto pay. In fact, AMEX has not had an opportunity to do it because I've always paid before them and it cancels out the auto pay. So far I love the AMEX Zync and it's been smooth sailing. I plan to ride it out a year and then try for a revolver cause I do not think they lift the PSL on this version. Atleast I haven't read on here or anywhere else about anyone having their's lifted.

Re: amex zync $200 limit - spending questions

Anonymous — Mon, 14 May 2012 18:28:42 GMT

@webhopper wrote:

I would not add an au unless you are prepared to pay for everything they charge... there's probably a good reason why this person doesn't have the ability to get a checking account; probably involves a multitude of poor decisions. I would pose this portion or your question in the Relationships and Money forum.

+42

It seems twice as risky when you are yourself trying to rebuild or generate new credit. Don't let tunnel vision focus on the rewards and override common sense. Rewards are a minor perk of using credit cards, they are not a method to generate income. Think it through. Save your money. Invest.

Re: amex zync $200 limit - spending questions

espnjunkie — Mon, 14 May 2012 18:18:27 GMT

Agreed. Rewards are a minor perk of properly using credit, nothing more. They don't generate any meaningful income usually, and are a method for keeping your money safe by not having to carry cash or have the worries a debit card brings. I wouldn't try to push too much through the card, and to be honest I have never once seen a post where the preset limit has been lifted. Once you get some history you can apply for a green card that only has npsl.