topic Re: Zync cancelled in Credit Cards

Zync cancelled

Anonymous — Thu, 11 Oct 2012 16:57:40 GMT

Hello, looking for some answers as what to do next. I applied for a zync last november and recieved the 500 dollar hard limit option. I quickly realized this was not the card i was hoping for. I continued to apply for the platinum card and was continually denied. I thought I just needed time, but after some digging I realized that I would never recieve another AMEX while I had this card open. So today I called and cancelled the card. Back story is when I applied i didnt realize i had a collection account on my report that was erroneous. I had it removed and my score is back in the mid-700's. My AAOA is just over 3 years. Biggest credit line is USAA @ 12k, then the CSP @ 6k. I have eight total INQ's on EX (most from a car loan shop) 3 reach the year mark in november. Income is about 60k, I want the platinum for the lounge access. When will be the appropriate time to apply? right now I am planning to wait until January to take full advantage of the back dating. Is this the best option? In January all my INQ's will be past 6 months. Ive been an AU on my SO gold card since May. will this help with a future app? thanks for all your comments/suggestions.

Re: Zync cancelled

Anonymous — Thu, 11 Oct 2012 17:04:54 GMT

As long as your last denial was more than 30 days away I would say you could apply at any time. However, you might want to wait to see if you can get a signing bonus and wait the 3 months and apply to get it.

Re: Zync cancelled

Anonymous — Thu, 11 Oct 2012 17:05:41 GMT

I hate to tell you, but you shouldn't have cancelled that zync.

If you didnt want it, you should have just sock drawered it until the AF was due and either try to get it waived or just pay it to keep your account in good standings with AMEX.

from what I gathered, zync wasn't a bad card and was a great way to get into the door with AMEX so that when you go to add another one of their cards they would back date it to the date of the origional zync date.

Now the zync is nor more (well they aren't accepting any new apps for it ever again). I'd wait it out and let some inquires drop off. If you kept apping for cards its going to look like your desperate even if your in prime land. I haven't heard of being an AU on a card helping one get said card, though it does help with your scores as long as there is no negative info associated with it.

Re: Zync cancelled

Anonymous — Thu, 11 Oct 2012 17:06:54 GMT

January looks like a good time to APP. There are other cards out there with lounge access that might be worth checking out. If you are set on that card particularity, it looks like January should work.

Make sure you get your utilization right before you apply. Have all cards but one reporting a zero balance, and have that one card report a 9% or less utilization.

Good luck to you.

Re: Zync cancelled

armbenderc — Thu, 11 Oct 2012 17:09:57 GMT

@Anonymous wrote:
I hate to tell you, but you shouldn't have cancelled that zync.

If you didnt want it, you should have just sock drawered it until the AF was due and either try to get it waived or just pay it to keep your account in good standings with AMEX.

from what I gathered, zync wasn't a bad card and was a great way to get into the door with AMEX so that when you go to add another one of their cards they would back date it to the date of the origional zync date.

Now the zync is nor more (well they aren't accepting any new apps for it ever again). I'd wait it out and let some inquires drop off. If you kept apping for cards its going to look like your desperate even if your in prime land. I haven't heard of being an AU on a card helping one get said card, though it does help with your scores as long as there is no negative info associated with it.

+1 on the Quote.

Again, you should not cancelled the Zync, call them back and told them you made a mistake, beg or do whatever to get it back. After 6 months, apply for the card that you want with amex.

Call them back and see if you can get it back. Ask for supervisor or higher.

Re: Zync cancelled

Cdnewmanpac — Thu, 11 Oct 2012 17:24:54 GMT

@armbenderc wrote:
@Anonymous wrote:
I hate to tell you, but you shouldn't have cancelled that zync.

If you didnt want it, you should have just sock drawered it until the AF was due and either try to get it waived or just pay it to keep your account in good standings with AMEX.

from what I gathered, zync wasn't a bad card and was a great way to get into the door with AMEX so that when you go to add another one of their cards they would back date it to the date of the origional zync date.

Now the zync is nor more (well they aren't accepting any new apps for it ever again). I'd wait it out and let some inquires drop off. If you kept apping for cards its going to look like your desperate even if your in prime land. I haven't heard of being an AU on a card helping one get said card, though it does help with your scores as long as there is no negative info associated with it.

+1 on the Quote.

Again, you should not cancelled the Zync, call them back and told them you made a mistake, beg or do whatever to get it back. After 6 months, apply for the card that you want with amex.

Call them back and see if you can get it back. Ask for supervisor or higher.

No. No. No. No. No.

He has the hard limit Zync. As has been discussed numerous times on this forum, he will continue to be denied for the Platinum as long as he has that hard limit Zync. Therefore, he was correct to cancel the Zync, as otherwise he will NEVER get the card he wants. As he has good credit lines from good lenders, there is no reason to keep a card with a 500 limit that will never grow and is actively preventing him from getting a card he wants.

OP, I think you should wait at least 90 days so as to ensure you are eligible for any signing bonuses.

Re: Zync cancelled

armbenderc — Thu, 11 Oct 2012 17:27:29 GMT

@Cdnewmanpac wrote:
@armbenderc wrote:
@Anonymous wrote:
I hate to tell you, but you shouldn't have cancelled that zync.

If you didnt want it, you should have just sock drawered it until the AF was due and either try to get it waived or just pay it to keep your account in good standings with AMEX.

from what I gathered, zync wasn't a bad card and was a great way to get into the door with AMEX so that when you go to add another one of their cards they would back date it to the date of the origional zync date.

Now the zync is nor more (well they aren't accepting any new apps for it ever again). I'd wait it out and let some inquires drop off. If you kept apping for cards its going to look like your desperate even if your in prime land. I haven't heard of being an AU on a card helping one get said card, though it does help with your scores as long as there is no negative info associated with it.

+1 on the Quote.

Again, you should not cancelled the Zync, call them back and told them you made a mistake, beg or do whatever to get it back. After 6 months, apply for the card that you want with amex.

Call them back and see if you can get it back. Ask for supervisor or higher.

No. No. No. No. No.

He has the hard limit Zync. As has been discussed numerous times on this forum, he will continue to be denied for the Platinum as long as he has that hard limit Zync. Therefore, he was correct to cancel the Zync, as otherwise he will NEVER get the card he wants. As he has good credit lines from good lenders, there is no reason to keep a card with a 500 limit that will never grow and is actively preventing him from getting a card he wants.

OP, I think you should wait at least 90 days so as to ensure you are eligible for any signing bonuses.

You are right.

Sorry OP.

Re: Zync cancelled

Anonymous — Thu, 11 Oct 2012 17:34:29 GMT

@Cdnewmanpac wrote:
@armbenderc wrote:
@Anonymous wrote:
I hate to tell you, but you shouldn't have cancelled that zync.

If you didnt want it, you should have just sock drawered it until the AF was due and either try to get it waived or just pay it to keep your account in good standings with AMEX.

from what I gathered, zync wasn't a bad card and was a great way to get into the door with AMEX so that when you go to add another one of their cards they would back date it to the date of the origional zync date.

Now the zync is nor more (well they aren't accepting any new apps for it ever again). I'd wait it out and let some inquires drop off. If you kept apping for cards its going to look like your desperate even if your in prime land. I haven't heard of being an AU on a card helping one get said card, though it does help with your scores as long as there is no negative info associated with it.

+1 on the Quote.

Again, you should not cancelled the Zync, call them back and told them you made a mistake, beg or do whatever to get it back. After 6 months, apply for the card that you want with amex.

Call them back and see if you can get it back. Ask for supervisor or higher.

No. No. No. No. No.

He has the hard limit Zync. As has been discussed numerous times on this forum, he will continue to be denied for the Platinum as long as he has that hard limit Zync. Therefore, he was correct to cancel the Zync, as otherwise he will NEVER get the card he wants. As he has good credit lines from good lenders, there is no reason to keep a card with a 500 limit that will never grow and is actively preventing him from getting a card he wants.

OP, I think you should wait at least 90 days so as to ensure you are eligible for any signing bonuses.

+1 agree

Re: Zync cancelled

Anonymous — Thu, 11 Oct 2012 18:02:44 GMT

Can't blame you for closing the Zync, good call. I would recommend applying in January for max backdating and to allow the inquiries to age a little bit. I think you would be a good candidate then.

Re: Zync cancelled

jsucool76 — Thu, 11 Oct 2012 18:54:17 GMT

Good cancelling the zync, you would have been stuck with the limit forever.

+1 to apping in january for backdating, and if you have no luck then I would just look for a different card.

If you're set on having a plat and another card isnt an option, you could try for a different charge card and build some more history with amex, and then try again.

Re: Zync cancelled

j_casteel — Thu, 11 Oct 2012 19:53:36 GMT

i just spoke with a very nice lady at the AMEX Exec. offices concerning my Zync. She clearly explained that it will never have the hard limit removed, but mentioned that my current status as a cardmember was excellent and suggested that i apply for the AMEX Blue (plain Blue) in March 2013, and there should be a great chance of approval then apply for a better charge card then eventually a better revolver. She never once mentioned anything about not being able to get another AMEX due to having the Zync.

I've seen this in a couple threads now, but not sure about how credible it really is. So what I gathered from this thread is that I will HAVE to cancel my Zync before ever being able to apply and get approved for a different AMEX card?

Re: Zync cancelled

jsucool76 — Thu, 11 Oct 2012 20:03:15 GMT

J_casteel:

afaik , the hard limit must factor into your internal risk score. I've heard countless stories of people with the hard limits being denied for other amex products.

Re: Zync cancelled

j_casteel — Thu, 11 Oct 2012 20:16:58 GMT

@jsucool76 wrote:
J_casteel:

afaik , the hard limit must factor into your internal risk score. I've heard countless stories of people with the hard limits being denied for other amex products.

i've applied for other charge cards before getting some things removed from my reports. The reasons for denial on the AMEX letters were what I had removed. (A wrongful collection, and some recent lates) Never once did it mention anything about having a bad internal risk score. If anything I think I would have a good internal risk score considering I've had the card over 4mths now, increased my EX FICO ~70pts, and have been averaging $1800-$2000 through it. Which isn't easy considering I have a $500 limit and having to constantly make payments.

Oh well, I'll just do as the lady suggested and wait until March and apply for the Blue. She said from her experience from working in the AMEX Exec. offices for the past 20yrs that the Blue card is the easiest to get of all, even charge cards, because they are usually able to offer a much lower initial starting credit limit and less rewards, etc then build from there.

I guess we'll see in March what the denial reason's say if I get denied.

Re: Zync cancelled

jsucool76 — Thu, 11 Oct 2012 20:49:31 GMT

@j_casteel wrote:
@jsucool76 wrote:
J_casteel:

afaik , the hard limit must factor into your internal risk score. I've heard countless stories of people with the hard limits being denied for other amex products.
i've applied for other charge cards before getting some things removed from my reports. The reasons for denial on the AMEX letters were what I had removed. (A wrongful collection, and some recent lates) Never once did it mention anything about having a bad internal risk score. If anything I think I would have a good internal risk score considering I've had the card over 4mths now, increased my EX FICO ~70pts, and have been averaging $1800-$2000 through it. Which isn't easy considering I have a $500 limit and having to constantly make payments.

Oh well, I'll just do as the lady suggested and wait until March and apply for the Blue. She said from her experience from working in the AMEX Exec. offices for the past 20yrs that the Blue card is the easiest to get of all, even charge cards, because they are usually able to offer a much lower initial starting credit limit and less rewards, etc then build from there.

I guess we'll see in March what the denial reason's say if I get denied.

The blue is basically just the revolving version of the zync. Earns MRe points, nothing too special about it. At the rate your FICO is increasing (if you're going to wait until march to apply) then I would go for something better than the blue. Seems like a pointless card if you have a zync.

Good Luck!

Re: Zync cancelled

j_casteel — Thu, 11 Oct 2012 21:08:16 GMT

@jsucool76 wrote:
@j_casteel wrote:
@jsucool76 wrote:
J_casteel:

afaik , the hard limit must factor into your internal risk score. I've heard countless stories of people with the hard limits being denied for other amex products.
i've applied for other charge cards before getting some things removed from my reports. The reasons for denial on the AMEX letters were what I had removed. (A wrongful collection, and some recent lates) Never once did it mention anything about having a bad internal risk score. If anything I think I would have a good internal risk score considering I've had the card over 4mths now, increased my EX FICO ~70pts, and have been averaging $1800-$2000 through it. Which isn't easy considering I have a $500 limit and having to constantly make payments.

Oh well, I'll just do as the lady suggested and wait until March and apply for the Blue. She said from her experience from working in the AMEX Exec. offices for the past 20yrs that the Blue card is the easiest to get of all, even charge cards, because they are usually able to offer a much lower initial starting credit limit and less rewards, etc then build from there.

I guess we'll see in March what the denial reason's say if I get denied.
The blue is basically just the revolving version of the zync. Earns MRe points, nothing too special about it. At the rate your FICO is increasing (if you're going to wait until march to apply) then I would go for something better than the blue. Seems like a pointless card if you have a zync.

Good Luck!

yeah, i figured that.

She did mention that while there is no guarantee for anything, but if my score keeps increasing and gets to 700+ before that I could probably just go ahead an apply for the card.

I'd rather have MR or Cashback rewards over the MRe points, but hopefully any of them would be better than the Zync. I like the card, but making a dozen payments a month is starting to get old.

Re: Zync cancelled

Burned2manybridgesB4 — Thu, 11 Oct 2012 21:50:24 GMT

Are you chasing transactions, as to keep it at zero, or are you running it up, and paying when the ceiling is close?

Re: Zync cancelled

j_casteel — Thu, 11 Oct 2012 22:13:19 GMT

@Burned2manybridgesB4 wrote:
Are you chasing transactions, as to keep it at zero, or are you running it up, and paying when the ceiling is close?

i just use it basically to replace my debit card. I use it so much and make payments to keep an available balance. I have auto-pay setup but have never had a payment due b/c i make so many payments per month/week already.

Re: Zync cancelled

Burned2manybridgesB4 — Thu, 11 Oct 2012 22:23:31 GMT

The reason I asked this is because if you're putting $500 (or close), on the card, then making one single payment in full towards them, then starting over again at $0 balance, this will make Amex VERY happy, and there is a great chance of PC'ing to another card up the totem pole. For as many people that have written "hard limit is permanent," I've read just as many saying "after month thirteen I PC'd."

I don't care how many times I read "Never get it removed," as if you're making ANY credit card company money, and you use them loyally, you'll eventually get rewarded (excluding C1).

Re: Zync cancelled

jsucool76 — Thu, 11 Oct 2012 23:19:04 GMT

@Burned2manybridgesB4 wrote:
The reason I asked this is because if you're putting $500 (or close), on the card, then making one single payment in full towards them, then starting over again at $0 balance, this will make Amex VERY happy, and there is a great chance of PC'ing to another card up the totem pole. For as many people that have written "hard limit is permanent," I've read just as many saying "after month thirteen I PC'd."
I don't care how many times I read "Never get it removed," as if you're making ANY credit card company money, and you use them loyally, you'll eventually get rewarded (excluding C1).

You're probably more likely to get a CLI/PC from cap1 than PCing the zync (unless they do something new since it is no longer available to new applicants). It is amex policy to NOT pc the zync, whether you have the hard limit or not.

I have read a few threads about people getting their hard limit removed, but that was a while ago and most recent people have had no luck getting their hard limit removed.

Re: Zync cancelled

j_casteel — Fri, 12 Oct 2012 01:15:40 GMT

@Burned2manybridgesB4 wrote:
The reason I asked this is because if you're putting $500 (or close), on the card, then making one single payment in full towards them, then starting over again at $0 balance, this will make Amex VERY happy, and there is a great chance of PC'ing to another card up the totem pole. For as many people that have written "hard limit is permanent," I've read just as many saying "after month thirteen I PC'd."
I don't care how many times I read "Never get it removed," as if you're making ANY credit card company money, and you use them loyally, you'll eventually get rewarded (excluding C1).

There is NO WAY it is going to ever get the hard limit removed. I was told several times from several different CSR's and then the last time the very nice lady at the Exec. office confirmed it citing the terms & conditions yada yada yada. I called to request a limit increase or anything. She even tried to manually submit a CLI on the card and it told her the card was not eligible. She did that just to see if it would work b/c I requested that if I couldn't get NPSL that I would like at least $3k and she said that is fair considering the amount I use the card and it didn't work. The Zync "500" is set that way. I think the only time the hard limits have ever gotten removed may have been when they had a temporary hard limit set on there. The Zync "500" is the card you get if you couldn't get the regular one and it is it's own card. No CLI and no PC. When I first got the card I was under the impression it would eventually lose the cap, but have now just came to terms with it. I'll continue to use it like I do and eventually get another AMEX.