topic Re: Zync with spending limit so unable to be approved for other Amex cards??0 in Credit Cards

Zync with spending limit so unable to be approved for other Amex cards??0

Anonymous — Mon, 14 Jan 2013 17:12:10 GMT

So I applied because its always a SP when you have a Amex card if you get denied, and I checked the preview on the letter they're going to send and it says because you have Zync with a spending limit youcan't open another Amex... Question is...how do I get the spending limit lifted off and has any one had luck withgetting their spending limit lifted??

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Jake0215 — Mon, 14 Jan 2013 17:15:10 GMT

@Anonymous wrote:
So I applied because its always a SP when you have a Amex card if you get denied, and I checked the preview on the letter they're going to send and it says because you have Zync with a spending limit youcan't open another Amex... Question is...how do I get the spending limit lifted off and has any one had luck withgetting their spending limit lifted??

The short answer is no, close it, wait at least 30 days. Apply for what u want.

Re: Zync with spending limit so unable to be approved for other Amex cards??0

creditnocash — Mon, 14 Jan 2013 17:18:25 GMT

im sure thats not the only reason you were denied.

(my letter is unreadable online) waiting for the mail version

but anyway i got denied with the 721 score.

but they made no mention of having a psl zync.

they did mention time as amex member to short though. (since sept) which is just a filler reason in my opinion.

i haven't heard anyone getting it removed, i have heard of people with npsl zync's getting approved for other cards.

i have seen a couple people close zyncs re-apply and get approved. but im not willing too take that chance anytime soon.

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Anonymous — Mon, 14 Jan 2013 17:18:51 GMT

Hmm. Ill have to think about that...I really likemy Zync hah. I'll wait til my credit report updates in 2 weeks when I pay all my debt off then close and wait the 30 days...maybe

Re: Zync with spending limit so unable to be approved for other Amex cards??0

creditnocash — Mon, 14 Jan 2013 17:23:45 GMT

@Anonymous wrote:
Hmm. Ill have to think about that...I really likemy Zync hah. I'll wait til my credit report updates in 2 weeks when I pay all my debt off then close and wait the 30 days...maybe

what's your aaoa?

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Anonymous — Mon, 14 Jan 2013 17:27:29 GMT

A little under two years which is another reason I don't wanna close anything I've only ever closed one card

Re: Zync with spending limit so unable to be approved for other Amex cards??0

scenery_guy — Mon, 14 Jan 2013 17:31:41 GMT

@Anonymous wrote:
A little under two years which is another reason I don't wanna close anything I've only ever closed one card

How long have you had the card? If it's less than a year keep it, use it and pay in full. That's the behavior AMEX seems to like.

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Anonymous — Mon, 14 Jan 2013 17:35:09 GMT

Since Aug. Been almost 6 month...after a year Ill call and ask

Re: Zync with spending limit so unable to be approved for other Amex cards??0

E150GT — Mon, 14 Jan 2013 17:58:39 GMT

Just curious, how did you get a hard limit placed on your card? Or how does one get a limit placed on it?

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Anonymous — Mon, 14 Jan 2013 18:01:57 GMT

When i applied I had high utilization but I paid off by the time I got the card..IN two weeks I'm gonna call and ask when my cc debt is paid off.

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Revelate — Mon, 14 Jan 2013 19:21:00 GMT

@E150GT wrote:
Just curious, how did you get a hard limit placed on your card? Or how does one get a limit placed on it?

The Zync had a counter-offer (actually two); in some cases if you were close but not quite at the minimum underwriting criteria for the Zync NPSL, there was an option offered online right then and there, to accept one of two other ones:

Zync with $200 limit
Zync with $500 limit with autopay

There wasn't any other way to obtain one, on other Amex cards if someone's done something which doesn't align with Amex's expected financial pattern, a limit can be imposed but usually that one is temporary is my understanding of it; apparently the Zync limit is still in place and enforced. I must've been confused earlier as to what reports I'd read a few months back when the Zync was discontinued, though it's possible that there was a time window (1 year or maybe longer) also in play. Hard to say with Amex's underwriting as even the front-line CSR's mostly had no idea of the counter-offer's existance let alone any details regarding it.

Edited for misinformation, pointed out by OptimasPrime

Re: Zync with spending limit so unable to be approved for other Amex cards??0

E150GT — Mon, 14 Jan 2013 18:10:11 GMT

Oh wow. Very informative. I would think that they would just deny you all together.

Re: Zync with spending limit so unable to be approved for other Amex cards??0

injustifiiable — Mon, 14 Jan 2013 18:51:22 GMT

If you check out their cardholder agreement for the Zync with hard limit, it does say they can deny you for any other AMEX product while that account is open. Maybe close the account and wait a few weeks?

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Anonymous — Mon, 14 Jan 2013 19:21:24 GMT

@Revelate wrote:
@E150GT wrote:
Just curious, how did you get a hard limit placed on your card? Or how does one get a limit placed on it?
The Zync had a counter-offer (actually two); in some cases if you were close but not quite at the minimum underwriting criteria for the Zync NPSL, there was an option offered online right then and there, to accept one of two other ones:

Zync with $200 limit
Zync with $500 limit with autopay
There wasn't any other way to obtain one, on other Amex cards if someone's done something which doesn't align with Amex's expected financial pattern, a limit can be imposed but usually that one is temporary is my understanding of it; apparently the Zync limit is still in place and enforced. I must've been confused earlier as to what reports I'd read a few months back when the Zync was discontinued, though it's possible that there was a time window (1 year or maybe longer) also in play. Hard to say with Amex's underwriting as even the front-line CSR's mostly had no idea of the counter-offer's existance let alone any details regarding it.

Edited for misinformation, pointed out by OptimasPrime

Not that it really matters now since the card has been discontinued, but I think it was the other way around. So $500 with autopay enabled or $200/250 hard limit without autopay enabled.

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Revelate — Mon, 14 Jan 2013 19:22:10 GMT

@Anonymous wrote:

Not that it really matters now since the card has been discontinued, but I think it was the other way around. So $500 with autopay enabled or $200/250 hard limit without autopay enabled.

I do believe you are correct sir! Thank you!

Re: Zync with spending limit so unable to be approved for other Amex cards??0

creditnocash — Tue, 15 Jan 2013 04:52:36 GMT

its funny that they offered this with auto pay.

Ironically this card was the last card I applied for after all my other apps this summer. (including a car loan)

I already had like 6+ inquiries on each report. and my aaoa dropped from 1 and a half years too about 7 months.

Anyways I took the 500 and put in my checking account number etc....

But never once have they taken money out of my account.

It actually prompted me to set it up once I signed on online. I didn't.

Haven't received any aa yet.

Re: Zync with spending limit so unable to be approved for other Amex cards??0

Revelate — Tue, 15 Jan 2013 06:28:49 GMT

@creditnocash wrote:
its funny that they offered this with auto pay.
Ironically this card was the last card I applied for after all my other apps this summer. (including a car loan)
I already had like 6+ inquiries on each report. and my aaoa dropped from 1 and a half years too about 7 months.

Anyways I took the 500 and put in my checking account number etc....
But never once have they taken money out of my account.
It actually prompted me to set it up once I signed on online. I didn't.
Haven't received any aa yet.

They seemed to be struggling getting autopay setup from reports here and elsewhere that I read; seemed almost as though the recommended advice was to simply take the $200 and run at the time as at least that didn't have the issues getting the account setup. Nice that it worked to the advantage of the consumer for once!