topic Re: Future for Zync holders in Credit Cards

Future for Zync (Exec Office update on pg. 4)

Anonymous — Wed, 03 Oct 2012 21:04:38 GMT

I posted this in the main thread about the Zync cancellation, but it got buried in other speculation.

I was hoping some of the Optima holders could answer this

"Well this drug me out of my lurking hole.... Looks like I got really lucky..couldn't sleep on Friday so I applied for the Zync-and was approved. Just in time! And like others said we now hold super sexy exclusive card Does anyone know what will happen in regards to the long term for those of us who have it? Will they offer us a PC or will they just keep supporting it. Specifically what happened after previous product discontinuations?"

I read on another forum that Optima holders were offered the chance to upgrade to another product, is this true? And if so given the Zync's reputation as a prime-ish card will they do it again?

Re: Future for Zync holders

CS800 — Tue, 02 Oct 2012 15:28:05 GMT

The Zync was your typical entry level card with not so great rewards.

If they are really doing away with it; just like they did with the Optima Platinum in early 2000's, there will be a phase to transition existing Zync holders to something else I'm sure.

Who knows maybe they will come up with another level entery card and market it better than the Zync. It's all about the hype when a card comes out. Maybe they will transition existing Zync to the Green. A charge card to another charge.

Re: Future for Zync holders

Cdnewmanpac — Tue, 02 Oct 2012 15:42:33 GMT

The world was a very different place when the optima was discontinued. The card act, the visa/mc settlement, a whole new regulatory body, a jobless recovery, a vanishing middle class, the emergence of an information economy...even the credit card companies don't know what they are going to do tomorrow. No matter what happens, your zync will continue to function for a while. Most people expect some big changes from Amex in the next year. The newest settlement will likely accelerate those changes, as will aggressive moves by chase and citi. My guess is that a wholesale revamp will make what happens with zync a drop in the bucket.

Re: Future for Zync holders

Anonymous — Tue, 02 Oct 2012 15:57:25 GMT

@Cdnewmanpac wrote:
The world was a very different place when the optima was discontinued. The card act, the visa/mc settlement, a whole new regulatory body, a jobless recovery, a vanishing middle class, the emergence of an information economy..Even the credit card companies don't know what they are going to do tomorrow. No matter what happens, your zync will continue to function for a while. Most people expect some big changes from Amex in the next year. The newest settlement will likely accelerate those changes, as will aggressive moves by chase and citi. My guess is that a wholesale revamp will make what happens with zync a drop in the bucket.

That is true.And raises some interesting points. From my experience the one thing Amex still had going for it was the so called "prestige" however, the reality is that this appears to no longer be the case. From this board and some personal experiences it looks like people are starting to realize all the "benefits" associated with Amex are available from Chase, Citi, Discover ect with a much lower cost and much less drama. Some examples being FEF's, travel insurance, purchase protection, customer service ect (And no file review!).

In short form what im saying is you can get a card that does the same thing from Visa or MC with much greater acceptance.

Do you think there are plans to maybe make some changes to bring back the "prestige" or are they going to try and change the product line itself to be more similar to those of the competitors.

All that aside I applied for the Zync because it looked cool

And if in the future Amex does do some interesting things that make them more relevant I will be there to support them.

Re: Future for Zync holders

GoldenloveNY — Tue, 02 Oct 2012 16:17:14 GMT

I guess I am one of the lucky ones. I was approved for the Zync close to two weeks ago. I have been using it for four whole days, charging close to $300. I called Amex, and the lady that spoke to me was confused. She said that the Zync cards has NOT been discontinued. I am not sure what is going on, but I am sure Amex will give a statement soon. Perhaps we would be PC to the Green....

Re: Future for Zync holders

shakalaka — Tue, 02 Oct 2012 16:22:35 GMT

I would take Plat for the ZYNC fee

Let´s wait and see, we are in with the family and we can use it. Amexco will (hopefully) not throw us out, due to this.

Re: Future for Zync holders

Duncanrr — Tue, 02 Oct 2012 16:26:36 GMT

I don't want a green. I like my zync. Ill add another charge later and link them. As for future of zync, who knows.

Re: Future for Zync holders

GoldenloveNY — Tue, 02 Oct 2012 16:29:48 GMT

@shakalaka wrote:
I would take Plat for the ZYNC fee

Let´s wait and see, we are in with the family and we can use it. Amexco will (hopefully) not throw us out, due to this.

Now we can showoff our Zync cards and say "Look! This was one of AMEX pretige cards...it is no longer available. Only a select few have it. Bahahahaha! CAN"T TOUCH THIS!!!!".........

Re: Future for Zync holders

Anonymous — Tue, 02 Oct 2012 16:29:42 GMT

Well thats a bummer......I was aiming for a zync in June....bk will be 8yrs....i wonder if they will have one to take its place

Re: Future for Zync holders

CS800 — Tue, 02 Oct 2012 16:36:35 GMT

@GoldenloveNY wrote:
@shakalaka wrote:
I would take Plat for the ZYNC fee

Let´s wait and see, we are in with the family and we can use it. Amexco will (hopefully) not throw us out, due to this.
Now we can showoff our Zync cards and say "Look! This was one of AMEX pretige cards...it is no longer available. Only a select few have it. Bahahahaha! CAN"T TOUCH THIS!!!!".........

Hammer time

Re: Future for Zync holders

Duncanrr — Tue, 02 Oct 2012 16:41:52 GMT

I just checked website. The zync isn't listed on card list but still has page and it looks like you can still apply for it. Why do you think the card is being discontinued?

Re: Future for Zync holders

Anonymous — Tue, 02 Oct 2012 16:44:07 GMT

@GoldenloveNY wrote:
I guess I am one of the lucky ones. I was approved for the Zync close to two weeks ago. I have been using it for four whole days, charging close to $300. I called Amex, and the lady that spoke to me was confused. She said that the Zync cards has NOT been discontinued. I am not sure what is going on, but I am sure Amex will give a statement soon. Perhaps we would be PC to the Green....

Did you call the number on the back of your card or the number to apply for a new account. If it was the number on the back of your card, my guess is they have not gotten the news yet (Zync CS I think is a foreign call center). You would have to call the number to set up a new account which another poster did and the CSR told them they are not accepting anymore apps.

LOL - maybe you just accidentally hinted to the Zync CSR that job cuts might be coming up

Re: Future for Zync holders

GoldenloveNY — Tue, 02 Oct 2012 16:59:19 GMT

LOL. I called the number of the back of the card. I just called for a new application, and yup, it has been discontinued as of yesterday. The rep told me that current ZYNC card members will not be affected. There accounts will remain active, but you can't add any new packs. For all those who have ZYNC, Congrats! We are the gifted ones... LOL

Re: Future for Zync holders

isoldmyatlas — Tue, 02 Oct 2012 17:03:08 GMT

I've been going back and forth about whether I want to app for the Zync or the Green in November...this news makes my decision a lot easier!

Re: Future for Zync holders

espnjunkie — Tue, 02 Oct 2012 18:08:55 GMT

@Anonymous wrote:

That is true.And raises some interesting points. From my experience the one thing Amex still had going for it was the so called "prestige" however, the reality is that this appears to no longer be the case. From this board and some personal experiences it looks like people are starting to realize all the "benefits" associated with Amex are available from Chase, Citi, Discover ect with a much lower cost and much less drama. Some examples being FEF's, travel insurance, purchase protection, customer service ect (And no file review!).

In short form what im saying is you can get a card that does the same thing from Visa or MC with much greater acceptance.

Do you think there are plans to maybe make some changes to bring back the "prestige" or are they going to try and change the product line itself to be more similar to those of the competitors.

All that aside I applied for the Zync because it looked cool
And if in the future Amex does do some interesting things that make them more relevant I will be there to support them.

While not a makor reason why I like Amex, I still feel that it carries a certain prestige to it's brand. While other have caught up a bit in terms of services and rewards, no other company offers backdating of accounts. From what I have seen Amex is also quite generous with it's credit limits and CLI's do not require a hard pull such as with Chase.

Re: Future for Zync holders

Anonymous — Tue, 02 Oct 2012 19:17:09 GMT

@espnjunkie wrote:

While not a major reason why I like Amex, I still feel that it carries a certain prestige to it's brand. While other have caught up a bit in terms of services and rewards, no other company offers backdating of accounts. From what I have seen Amex is also quite generous with it's credit limits and CLI's do not require a hard pull such as with Chase.

This is true, I forgot to add the back dating as one of the benefits. This will be especially useful for me as a student with a limited history when I add (Or try to ) another Amex card in January. (Yay for improved AAoA)

Meanwhile I would love to see them add something interesting to replace the Zync, Perhaps with a revolver (to limit their risk) that still uses the packs. This would still allow them to target the younger market, perhaps more successfully this time

Althought now that I have a foot in the door I kind of dont want them to do it...watering down the brand and all that

Re: Future for Zync holders

Anonymous — Tue, 02 Oct 2012 19:47:34 GMT

It would be very nice if amex offers to upgrade us keeping the same af

Re: Future for Zync holders

shakalaka — Tue, 02 Oct 2012 20:13:59 GMT

@Anonymous wrote:
It would be very nice if amex offers to upgrade us keeping the same af

Like I said before, PC to Plat but Zync AF for the rest of your life Now this would be something special.

Re: Future for Zync holders

Revelate — Tue, 02 Oct 2012 20:30:02 GMT

They will probably PC the customers they like. Webhopper is a good example: she runs a few K a month through the card if I remember right, Amex isn't going to want to lose her business.

I'd like to think I'm in the boat as well, but as one of the last people to acquire on at least on this forum all bets are sadly off in my case.

I would wager that the current Zync customers will be quietly PC'd to something else perhaps we'd get to choose, likely with a waived or prorated AF for the year.

They won't allow us to keep the cards forever, at most it would be 4 years from 9/30 (expiration date of likely their last issued Zync).

I'm just going to wait and see and till they make a decision, keep to my plan and still run the majority of my expenditures through this card. I didn't work that hard to obtain it, but I hope I don't lose my new relationship with Amex over it's discontinuation.

Re: Future for Zync holders

CS800 — Tue, 02 Oct 2012 20:40:29 GMT

I suspect it will be a PC to another charge card.

What did the Optima Platinum holders get when they finally shut it down ?