topic Re: Zync with Spending Limit is a lost cause in Credit Cards

Zync with Spending Limit is a lost cause

Denny33142 — Fri, 08 Feb 2013 07:29:40 GMT

As you know from a couple of threads back i was approved for a Discover Card, I also have a Chase Freedom and a Capital One Cash Rewards.

But my oldest card is the Zync, i have had this one for over 2 years and during that time have pushed over 30K in purchases while also never being late on a payment, Amex however still have me on a $500 limit and will not remove it, they also do not want to approve me for any other card (I have applied for the Gold 3 times, last time being on January of this year).

Apart from that the rewards on the zync are not good, the 1 point per dollar is less than 1% when redeemed for a gift card, now that they are discontinuing the packs it is even worse. the card also has an AF while my Chase and Discover do not, even my Capital One has better rewards (1.5% cashback), when you add all of this up i came to the conclusion that the zync is actually not a good card at all.

Just wanted to share my bad experience with the zync and with amex overall.

Re: Zync with Spending Limit is a lost cause

chnceit — Fri, 08 Feb 2013 07:38:14 GMT

Sorry for your bad experience with the Zync Unicorn! But the best part is that you have the history with AMEX and the only way to get approved for another AMEX is to close the Zync and applied for another card. But best part with AMEX is that you can get your new card backdated.

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 07:39:52 GMT

I read that Amex will deny you for other products if you have a Zync with a hard limit. You're gonna have to cancel it. T_T

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 13:24:19 GMT

It's not a lost cause. I have been just too lazy to set up an account and post, but i thought it would be helpful to give my experience.

I have had Zync since 2011 with 200 spending limit. Everytime i would apply i would get denied.On Feb 5, 2013 I applied for Amex Sky and it denied me saying that i had a Zync. During all this time, i was logging in into my account and then applying from there, so that I wouldnt have to enter in my all info again.

Two days ago, i received the letter about Zync discountinuace. I decided to try it one more time and go for the Delta so i could get the 30K miles offer. BUT INSTEAD of applying through my account, i applied through the website, entering the all information without logging in. I got the 7-10 days message and later found out i was approved for 1K. My Karma has me at 650, but Walmart has me at 690 i believe. No baddies.

Here is the history from amex:

11/29/12

DELTA SKYMILES CREDIT CARD FROM AMERICAN EXPRESS

Declined

To view the full decision details click here

12/02/12

AMERICAN EXPRESS PREFERRED REWARDS GREEN CARD

Cancelled

To view the full decision details click here

02/05/13

BLUE SKY FROM AMERICAN EXPRESS

Declined

To view the full decision details click here

02/07/13

DELTA SKYMILES CREDIT CARD FROM AMERICAN EXPRESS

Approved

Congratulations! Your application has been approved and you should receive your new card within 7-10 days.
If you requested a balance transfer to this card, click here to view the status of that transfer

February 05, 2013

Reference: 2013036 60 0**** USD

Dear Eee15,

Thank you for your recent application. We were unable to approve your request for the following reason:

Because you have the ZYNCSM Card with a spending limit, we cannot open another American Express card account for you at this time.

An important notice concerning your rights is included. The creditor is American Express Centurion Bank.

We hope you are enjoying the benefits and services of your ZYNC Card.

If you have any questions, please call 1-800-567-1083 or write to us at the address above. To learn more about protecting your credit, visit our Consumer Resources page at www.americanexpress.com/consumerresources.

Sincerely,

Robert Garinger

SVP Global New Accounts

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 13:22:28 GMT

So based on my experience, two things might have happened for me to get approved:

1) Amex changed their policy after they mailed out the letter re: zyng discountinuance.

2) if you apply without logging in into your account, you can trick the system to not match your ZYNC card info and therefore, get approved.

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 13:55:39 GMT

I just applied for one more amex, to use for everyday use, since it doesnt have annual fee:

02/08/13

BLUE CASH EVERYDAY(SM)

Approved

That makes it 12 inquires on my experian

GO AHEAD AND APPLY PEOPLE!!!

Re: Zync with Spending Limit is a lost cause

SnackTrader — Fri, 08 Feb 2013 14:23:48 GMT

But you have a $200 spending limit. Is that different than the $500 somehow? Did you ever get a choice between which spending limit to have? I thought I remember a post about the $200 and $500 Zyncs being different.

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 15:22:35 GMT

they gave me the option of 200 or 500 with full direct payment from the bank. I took the 200.

Re: Zync with Spending Limit is a lost cause

chnceit — Fri, 08 Feb 2013 16:29:09 GMT

WOW eee15 this is great news and AMEX could have changed policies. Congrats on your apporvals

Re: Zync with Spending Limit is a lost cause

Denny33142 — Fri, 08 Feb 2013 17:19:30 GMT

I have actually seen many $200 zync holders get approved for other cards, i think the problem may be directly related to the $500 version.

Calling amex also doesn't help as they have no clue of this issue, The only difference i see between both cards is that the $500 Zync has autopay, I don't know how that would cause any issue.

Unicorn with Spending Limit workaround?

p- — Fri, 08 Feb 2013 17:31:07 GMT

@Denny33142 wrote:
I have actually seen many $200 unicorn holders get approved for other cards, i think the problem may be directly related to the $500 version.

Calling amex also doesn't help as they have no clue of this issue, The only difference i see between both cards is that the $500 unicorn has autopay, I don't know how that would cause any issue.

I wonder what would happen if a 500 dollar limit person canceled the autopay. Would the limit drop to 200? Would they then be eligible to app for new products?

Re: Unicorn with Spending Limit workaround?

Denny33142 — Fri, 08 Feb 2013 19:13:12 GMT

I was told by amex that the autopay is a condition of the card and if removed the card would be cancelled.

Re: Unicorn with Spending Limit workaround?

p- — Fri, 08 Feb 2013 20:32:56 GMT

@Denny33142 wrote:
I was told by amex that the autopay is a condition of the card and if removed the card would be cancelled.

Ouch.

So it's stuck at 500 with autopay forever? Wow. I wonder if that policy will change over time...

Re: Unicorn with Spending Limit workaround?

creditnocash — Fri, 08 Feb 2013 20:57:25 GMT

@Denny33142 wrote:
I was told by amex that the autopay is a condition of the card and if removed the card would be cancelled.

i set up the auto pay when i got the card. but it asked me to re enroll online when i got the card in the mail

i never did.

it has never auto taken anything out of my account.

my card wasnt cancelled.

is there a certain day they transfer money out?

like it said please pay by the 15th etc. but i usually pay like on the 29th so it doesnt report.

Re: Unicorn with Spending Limit workaround?

Denny33142 — Fri, 08 Feb 2013 22:51:19 GMT

The autopay seems to kick in on the due date, If you always pay before the due date then that is probably the reason you have never had an autopay.

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 22:53:53 GMT

If the thing about Amex changing the policy with zync hard limits not allowing you to be approved for other cards is true I think I'm gonna apply again. After all it is a soft pull. If I get the same song and dance BS about not being able to apply for other Amex because of the zync ill cancel the card.. It was nice to get my foot in the door but not at the expense of never being able to get any other AMEX

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 23:29:57 GMT

Depressing but had to do it...I liked the card but it was holding me back...the rep understood where i was coming from and advised me to re apply for other cards in a few months...im gonna wait til the summer at least.

Re: Unicorn with Spending Limit is a lost cause

p- — Fri, 08 Feb 2013 23:50:48 GMT

@Anonymous wrote:
Depressing but had to do it...

And with that, the unicorn population is permanently reduced by one...

Re: Zync with Spending Limit is a lost cause

Anonymous — Fri, 08 Feb 2013 23:57:52 GMT

Are you being facetious? I really liked the card. I just don't subscribe to one card locking you out from advancing.

Re: Zync with Spending Limit is a lost cause

p- — Sat, 09 Feb 2013 00:41:49 GMT

I'd probably do the same thing.