topic Unicorn is getting the Ax! in Credit Cards

Unicorn is getting the Ax!

j_casteel — Tue, 29 Apr 2014 08:37:24 GMT

I've had the Zync for 2 years now and it is stuck with a $500 hard limit on it. I've tried a multitude of times to PC it or lift the limit, but nothing can be done. I spent like crazy on it when I first got it but only barely use it for AMEX CreditSecure ($15/mo) and shopping at Costco, but I have to limit myself at Costco due to the limit.

I think I'm going to close the card wait til later this summer or early fall and app for an AMEX revolver. I'm thinking about getting the TE for Costco spending/gas, but if I were to go with a different card with higher cash back does Costco count towards those rewards?

Right now I'm just buying Costco Cash Cards online with my CSP and using them for spending/fuel while meeting my min. spend for my bonus.

Re: Unicorn is getting the Ax!

Revelate — Tue, 29 Apr 2014 10:21:08 GMT

I thought they got rid of the "you have to close the hard-limit Zync before they'll allow you to get an additional card" when they discontuned the Zync? Not certain I understand the rationale for closing it for a few months before applying for a revolver otherwise.

For the most part I only keep it around in case I really need the NPSL feature (any transaction > 9K in my case, yeah not very likely currently) and the AF is irrelevant to me: haven't actually carried it in months. I still keep my monthly donation to the local NPR-carrying station on it, but outside of that it really isn't used but I don't intend to close it.

If your options on the HL Zync with Amex are still limited after the 1.5 years since discontinuation, then just kick it after buying gift cards or whatever; if not, if you have a bunch of MRE on it, get a MR card first assuming that's possible and at least save the points... no sense throwing those away.

Re: Unicorn is getting the Ax!

j_casteel — Tue, 29 Apr 2014 22:32:16 GMT

Oh yeah, I forgot about my points I'll have to get something before closing the card. Yes, I'm closing due to the fact I believe it is preventing me from getting another AMEX card. I don't use it really so closing it to try to get a different card won't be a loss.

Re: Unicorn is getting the Ax!

pizzadude — Tue, 29 Apr 2014 22:37:57 GMT

I'd keep it open since it only has $25 AF, which can easily be recouped with one or two promotions.

Planning on leaving mine open, even the one with the $200 Hard Limit.

Re: Unicorn is getting the Ax!

Kenny — Tue, 29 Apr 2014 22:37:51 GMT

I do have a Q and it's related to your post. Can one get approved for a charge card while you still have one? Say for instance you wanted to get the PRG would amex approved and move over your MRE to make it Mr?

Best of luck to you! The blue card would be a good new app for you because then you can close the Zync and still have MR points. Then when you've closed the Zync and want the revolver back you could do PRG if you wanted and PC the Blue to whatever you'd like. The blue cash is a great option if you spend a lot at grocery stores. Sounds a little convoluted though! Let us know what you decide on doing

Re: Unicorn is getting the Ax!

Revelate — Tue, 29 Apr 2014 23:10:08 GMT

@KennyRS wrote:
I do have a Q and it's related to your post. Can one get approved for a charge card while you still have one? Say for instance you wanted to get the PRG would amex approved and move over your MRE to make it Mr?

Best of luck to you! The blue card would be a good new app for you because then you can close the Zync and still have MR points. Then when you've closed the Zync and want the revolver back you could do PRG if you wanted and PC the Blue to whatever you'd like. The blue cash is a great option if you spend a lot at grocery stores. Sounds a little convoluted though! Let us know what you decide on doing

Yup, the points get linked and convert to MR. This was actually one of the primary reasons higher credit strata people picked up a Zync: it was a rewards accelerator for the Green/Gold/Plat carriers.

The problem was historically if you had the Hard Limit version, you couldn't PC it at all or I think even open up another account unless you closed it first; however, I thought they removed that restriction about the same time they discontinued the card (10/12 roughly IIRC).

Re: Unicorn is getting the Ax!

j_casteel — Tue, 29 Apr 2014 23:38:23 GMT

I haven't app'd for a charge card in a long time...I've only tried revolvers and no go. I haven't tried in a long time though. I hear different stories like they changed it and now you can get approved for a charge even with the HL Zync, but I'm not certain though. I know for the longest time the story way if you had a HL Zync then you weren't getting any other AMEX no matter your scores/files.

AMEX approved my for the Zync when my EX FICO was closer to ~625-630, and I figured by now I should be eligible for another AMEX, but who knows. It's not that big of a deal, but since we moved and we have Costco so close we started doing a lot of our shopping there as well as buying fuel there. So an AMEX is beneficial to have. The Zync is just too limiting for us.

Re: Unicorn is getting the Ax!

Kenny — Tue, 29 Apr 2014 23:42:17 GMT

@j_casteel wrote:
I haven't app'd for a charge card in a long time...I've only tried revolvers and no go. I haven't tried in a long time though. I hear different stories like they changed it and now you can get approved for a charge even with the HL Zync, but I'm not certain though. I know for the longest time the story way if you had a HL Zync then you weren't getting any other AMEX no matter your scores/files.

AMEX approved my for the Zync when my EX FICO was closer to ~625-630, and I figured by now I should be eligible for another AMEX, but who knows. It's not that big of a deal, but since we moved and we have Costco so close we started doing a lot of our shopping there as well as buying fuel there. So an AMEX is beneficial to have. The Zync is just too limiting for us.

I understand completely. How long are you planning on gardening or is this something that you think you may do soon?

Re: Unicorn is getting the Ax!

j_casteel — Tue, 29 Apr 2014 23:49:08 GMT

@KennyRS wrote:
@j_casteel wrote:
I haven't app'd for a charge card in a long time...I've only tried revolvers and no go. I haven't tried in a long time though. I hear different stories like they changed it and now you can get approved for a charge even with the HL Zync, but I'm not certain though. I know for the longest time the story way if you had a HL Zync then you weren't getting any other AMEX no matter your scores/files.

AMEX approved my for the Zync when my EX FICO was closer to ~625-630, and I figured by now I should be eligible for another AMEX, but who knows. It's not that big of a deal, but since we moved and we have Costco so close we started doing a lot of our shopping there as well as buying fuel there. So an AMEX is beneficial to have. The Zync is just too limiting for us.
I understand completely. How long are you planning on gardening or is this something that you think you may do soon?

My AF is due in August IIRC, so I may wait to close it then just before the AF hits wait the 31 days then app. I have a feeling within a few months my scores should get a good boost since I have four 7yr old baddies due to age off.

Re: Unicorn is getting the Ax!

Kenny — Tue, 29 Apr 2014 23:51:00 GMT

@j_casteel wrote:
@KennyRS wrote:
@j_casteel wrote:
I haven't app'd for a charge card in a long time...I've only tried revolvers and no go. I haven't tried in a long time though. I hear different stories like they changed it and now you can get approved for a charge even with the HL Zync, but I'm not certain though. I know for the longest time the story way if you had a HL Zync then you weren't getting any other AMEX no matter your scores/files.

AMEX approved my for the Zync when my EX FICO was closer to ~625-630, and I figured by now I should be eligible for another AMEX, but who knows. It's not that big of a deal, but since we moved and we have Costco so close we started doing a lot of our shopping there as well as buying fuel there. So an AMEX is beneficial to have. The Zync is just too limiting for us.
I understand completely. How long are you planning on gardening or is this something that you think you may do soon?
My AF is due in August IIRC, so I may wait to close it then just before the AF hits wait the 31 days then app. I have a feeling within a few months my scores should get a good boost since I have four 7yr old baddies due to age off.

So you do want to app with it closed down? I ask because I know there is some comfort in the HP if approved, SP if denied ideology. Best of luck in whatever you choose! I hope you are approved with the CL you desire as well.

Re: Unicorn is getting the Ax!

j_casteel — Tue, 29 Apr 2014 23:57:49 GMT

@KennyRS wrote:
@j_casteel wrote:
@KennyRS wrote:
@j_casteel wrote:
I haven't app'd for a charge card in a long time...I've only tried revolvers and no go. I haven't tried in a long time though. I hear different stories like they changed it and now you can get approved for a charge even with the HL Zync, but I'm not certain though. I know for the longest time the story way if you had a HL Zync then you weren't getting any other AMEX no matter your scores/files.

AMEX approved my for the Zync when my EX FICO was closer to ~625-630, and I figured by now I should be eligible for another AMEX, but who knows. It's not that big of a deal, but since we moved and we have Costco so close we started doing a lot of our shopping there as well as buying fuel there. So an AMEX is beneficial to have. The Zync is just too limiting for us.
I understand completely. How long are you planning on gardening or is this something that you think you may do soon?
My AF is due in August IIRC, so I may wait to close it then just before the AF hits wait the 31 days then app. I have a feeling within a few months my scores should get a good boost since I have four 7yr old baddies due to age off.
So you do want to app with it closed down? I ask because I know there is some comfort in the HP if approved, SP if denied ideology. Best of luck in whatever you choose! I hope you are approved with the CL you desire as well.

Yeah I know, the SP denials are a "benefit" of being an AMEX cardholder, but I feel the Zync is actually hindering my chances of getting an approval due to the HL version I have. I don't think I've seen any firm "evidence" on the forums here stating anyone has gotten an approval until after they closed their HL Zync card.

Re: Unicorn is getting the Ax!

pizzadude — Wed, 30 Apr 2014 00:06:52 GMT

j_casteel wrote:

I doubt the Zync is holding you back ~ at least in my experience it hasn't.

I have a $200 hard limit ZYNC. Was subsequently approved for Platinum Charge ( also PC'd to Zync ) and Skymiles Platinum.

Re: Unicorn is getting the Ax!

j_casteel — Wed, 30 Apr 2014 00:20:04 GMT

@pizzadude wrote:
@j_casteel wrote:

Yeah I know, the SP denials are a "benefit" of being an AMEX cardholder, but I feel the Zync is actually hindering my chances of getting an approval due to the HL version I have. I don't think I've seen any firm "evidence" on the forums here stating anyone has gotten an approval until after they closed their HL Zync card.

I doubt the Zync is holding you back ~ at least in my experience it hasn't.

I have a $200 hard limit ZYNC. Was subsequently approved for Platinum Charge ( also PC'd to Zync ) and Skymiles Platinum.

I wonder if I should try for a charge card before closing it? I haven't tried for one in a long time. Just figured it was pointless. So you were able to keep the $200 HL Zync open get approved for the Plat, and then PC'd it to the Zync? And you got the Delt Plat? Hmmm....maybe I just need to wait and see if I can get a card while keeping the Zync open but if not it won't hurt my feelings to close it.

Re: Unicorn is getting the Ax!

j_casteel — Wed, 30 Apr 2014 00:48:25 GMT

I just checked and looks like my AF hits again in June. So I may see what I can do next month before it hits, and then go from there.

Re: Unicorn is getting the Ax!

j_casteel — Wed, 30 Apr 2014 00:54:08 GMT

As far as spending; is Costco coded as a supermarket? Curious if I should go with a diff card than the TE when/if I get a diff AMEX.

Re: Unicorn is getting the Ax!

pizzadude — Wed, 30 Apr 2014 01:18:36 GMT

@j_casteel wrote:

I wonder if I should try for a charge card before closing it? I haven't tried for one in a long time. Just figured it was pointless. So you were able to keep the $200 HL Zync open get approved for the Plat, and then PC'd it to the Zync? And you got the Delt Plat? Hmmm....maybe I just need to wait and see if I can get a card while keeping the Zync open but if not it won't hurt my feelings to close it.

Yes, I acquired the $200 PSL ZYNC first, then was approved for Platinum, which I ended up PCing because I wanted a NPSL ZYNC anyway. Got the Delta Plat card approved as well. I've kept both ZYNCs around since they're more or less free.

Re: Unicorn is getting the Ax!

j_casteel — Wed, 30 Apr 2014 01:23:06 GMT

@pizzadude wrote:
@j_casteel wrote:
I wonder if I should try for a charge card before closing it? I haven't tried for one in a long time. Just figured it was pointless. So you were able to keep the $200 HL Zync open get approved for the Plat, and then PC'd it to the Zync? And you got the Delt Plat? Hmmm....maybe I just need to wait and see if I can get a card while keeping the Zync open but if not it won't hurt my feelings to close it.
Yes, I acquired the $200 PSL ZYNC first, then was approved for Platinum, which I ended up PCing because I wanted a NPSL ZYNC anyway. Got the Delta Plat card approved as well. I've kept both ZYNCs around since they're more or less free.

You are the only person I've seen post about getting an approval while having a PSL Zync.

I just searched the threads like crazy, and couldn't find anything. No PCing, and no approvals. I found several that cancelled their PSL Zyncs and were then approved.

Re: Unicorn is getting the Ax!

Revelate — Wed, 30 Apr 2014 01:34:11 GMT

@j_casteel wrote:
@pizzadude wrote:
@j_casteel wrote:
I wonder if I should try for a charge card before closing it? I haven't tried for one in a long time. Just figured it was pointless. So you were able to keep the $200 HL Zync open get approved for the Plat, and then PC'd it to the Zync? And you got the Delt Plat? Hmmm....maybe I just need to wait and see if I can get a card while keeping the Zync open but if not it won't hurt my feelings to close it.
Yes, I acquired the $200 PSL ZYNC first, then was approved for Platinum, which I ended up PCing because I wanted a NPSL ZYNC anyway. Got the Delta Plat card approved as well. I've kept both ZYNCs around since they're more or less free.
You are the only person I've seen post about getting an approval while having a PSL Zync.

I just searched the threads like crazy, and couldn't find anything. No PCing, and no approvals. I found several that cancelled their PSL Zyncs and were then approved.

The problem is the dates: there was a small window after the Zync was discontuned where there were a flurry of threads posted about the PC restrictions being relaxed, but after that the Unicorn was slain and we stopped talking about it.

Before that there absolutely was a problem, but I believe for PD and others it got changed. Also for whatever reason the $200 was different than the $500 version in some regards, more Amex wackiness but I certainly wouldn't go and close down the card without trying to PC it to something more useful or open up another account. You have a bunch of time pre-August, why not take a flier on the assumption it's 98% to be a SP if you get denied before doing something more drastic?

Re: Unicorn is getting the Ax!

pizzadude — Wed, 30 Apr 2014 02:48:57 GMT

Revelate wrote:

j_casteel wrote:

You are the only person I've seen post about getting an approval while having a PSL Zync.
I just searched the threads like crazy, and couldn't find anything. No PCing, and no approvals. I found several that cancelled their PSL Zyncs and were then approved.
The problem is the dates: there was a small window after the Zync was discontuned where there were a flurry of threads posted about the PC restrictions being relaxed, but after that the Unicorn was slain and we stopped talking about it.
Before that there absolutely was a problem, but I believe for PD and others it got changed. Also for whatever reason the $200 was different than the $500 version in some regards, more Amex wackiness but I certainly wouldn't go and close down the card without trying to PC it to something more useful or open up another account. You have a bunch of time pre-August, why not take a flier on the assumption it's 98% to be a SP if you get denied before doing something more drastic?

It's possible that I apped at the right time, just when they were beginning to change / sunset the ZYNC, or perhaps I just slipped though the cracks. Either way I don't think that we ever had enough information to really understand the wizard behind the curtain running the AMEX approval process.

Everyone will make their own decision about when to cut cards loose ~ I'll be leaving mine open as they're not costing me anything.

I'd recommend leaving yours open, at least for the ability to not take a HP if declined, as Rev mentioned above.

Re: Unicorn is getting the Ax!

j_casteel — Wed, 30 Apr 2014 03:02:22 GMT

@Revelate wrote:
@j_casteel wrote:
@pizzadude wrote:
@j_casteel wrote:
I wonder if I should try for a charge card before closing it? I haven't tried for one in a long time. Just figured it was pointless. So you were able to keep the $200 HL Zync open get approved for the Plat, and then PC'd it to the Zync? And you got the Delt Plat? Hmmm....maybe I just need to wait and see if I can get a card while keeping the Zync open but if not it won't hurt my feelings to close it.
Yes, I acquired the $200 PSL ZYNC first, then was approved for Platinum, which I ended up PCing because I wanted a NPSL ZYNC anyway. Got the Delta Plat card approved as well. I've kept both ZYNCs around since they're more or less free.
You are the only person I've seen post about getting an approval while having a PSL Zync.

I just searched the threads like crazy, and couldn't find anything. No PCing, and no approvals. I found several that cancelled their PSL Zyncs and were then approved.
The problem is the dates: there was a small window after the Zync was discontuned where there were a flurry of threads posted about the PC restrictions being relaxed, but after that the Unicorn was slain and we stopped talking about it.

Before that there absolutely was a problem, but I believe for PD and others it got changed. Also for whatever reason the $200 was different than the $500 version in some regards, more Amex wackiness but I certainly wouldn't go and close down the card without trying to PC it to something more useful or open up another account. You have a bunch of time pre-August, why not take a flier on the assumption it's 98% to be a SP if you get denied before doing something more drastic?

Thanks for the feedback...I'll wait to close it until after i am certain if i PC it or not, and also there's no sense in closing it so far prior to apping anyways.