@Revelate So a Centurion would be sub prime by your definition because its a charge card?
@Revelate wrote:
@CreditScholar wrote:It virtually never happens. The Zync with a toy hard limit is basically a subprime product offered by a prime lender. Use it well as a springboard to something else, but don't expect it to grow with you or you'll be sorely disappointed.
@jsucool76 wrote:I think initially they might have done that to some people, but for the most part you don't hear about anyone getting it lifted anymore.
In fairness, the Zync and even the rest of the charge card products are sorta sub-prime especially if you go off the actual FICO definition of prime vs. subprime.
In any event, the vast majority of this forum uses Amex charge cards as a foot in the door, and the Zync works just fine for that. Regardless of whether you consider it prime or not, an Amex relationship is still absolutely worthy to have for one's future FICO plans... which likely everyone on this forum has some sort of goal on.
Edit: in thinking about it more, it doesn't surprise me that the Zync limit wouldn't be removed: I don't think Amex considers the Zync as one of their goal cards, namely they're hoping you'll move onto bigger and better things in the future.
Personally I'd be just fine with a $500 limit on mine, though I'm starting to think I have a reasonable shot at NPSL as well.... but for me it's all backdating and the eventual Amex revolver at some point in the future.
Revelate,
I've seen in your past post (if i remember correctly) that you been wanting to apply for the Zync card. I know your scores are probably not where you would like them to be to apply but with the recent string of approvals with people in the low 600's, I think you have a good shot at the card. It seems they base approvals off alot more than just score. You could go ahead and get your foot in the door and establish your membership date. I think you stand a good chance IMO.
@LS2982 wrote:
@Revelate So a Centurion would be sub prime by your definition because its a charge card?
I've met a billionaire, and several multi-millionaires, even my shoddy credit score is better than theirs. 
I kid you not.
Maybe I wasn't clear, but I still go off prime vs. subprime as a matter of the typical definition: FICO score, in this case ones required for approval.
Rewards and everything else about the card is whether it meets your individual needs. In this case, LS I believe you've pontificated in the past about prime cards being $0 AF, which the Centurion absolutely doens't fall into, so in your definition is it prime or not? It's not one size fits all in my opinion.
CS: for those that don't travel, the rewards on the Zync are nearly 1:1 with the higher tier charge products. 1% for default spending is pretty typical, but you can easily purchase packs to accelerate that to 2-3% or higher in some cases; it's what you make of it but for me it's way better than Green absolutely, and better than Gold/PR/Plat in my case too as I don't travel regularly.
People on these forums get too hung up on limits, a Zync with a $500 limit, or a Freedom with that same $500 limit can be an *exceptional* card if it works for you. I'd be just fine with either of those even with a much higher FICO score than my own, but I know there's ways to work them to my advantage later.
There are plenty of other cards with 1-2% reward categories, even the appropriately lauded CSP has that structure. JPM Select too, are these "prime" cards? By my definition of a minimum barrier of entry of 680 (give or take) they are, but as at least Crashem (I think) pointed out, there's very, very few cards which are incredibly difficult to obtain and these aren't... and by that definition, arguably the Centurion is prime as it is invitation only; however, approval there has nothing to do with FICO.
@gettnthere wrote:
@Revelate wrote:<snip>
Personally I'd be just fine with a $500 limit on mine, though I'm starting to think I have a reasonable shot at NPSL as well.... but for me it's all backdating and the eventual Amex revolver at some point in the future.
Revelate,
I've seen in your past post (if i remember correctly) that you been wanting to apply for the Zync card. I know your scores are probably not where you would like them to be to apply but with the recent string of approvals with people in the low 600's, I think you have a good shot at the card. It seems they base approvals off alot more than just score. You could go ahead and get your foot in the door and establish your membership date. I think you stand a good chance IMO.
These days I think so too. My income is solid and documentable, my scores are probably around 650 this month, and it is their entry card; however, since backdating is really my primary reason for the card (though it works for me in the next year or two) when I get approved doesn't matter as long as it's sometime this year.
But in trying to maximize my chances, I'd rather apply with a recent year of revolving history, and that hits sometime next month. I don't "need" the card immediately, and as such I might as well put as much lipstick on the pig as possible... and waiting till the Oct/Nov time frame is likely nothing but goodness. December would be even better but that's cutting it too close till the end of the year. Waiting till WFDS reports my old auto loan with them as closed would be beneficial too, $30K in reported auto loans being open isn't where I want to be regardless of income .
@CreditScholar wrote:Regardless of whether it is a charge card or not, it still has subprime-like terms. If you didn't know it was an Amex and only heard the terms: a $200-500 limit credit card, plus an annual fee and a subpar rewards program that offers ~1% sounds like a subprime card. I agree that the benefits are primarily to build a relationship with Amex, but it's an anomaly when compared to many of their other (better) products. I think people get overly excited about getting one when the card itself is frankly pretty lousy.
@Revelate wrote:
@CreditScholar wrote:It virtually never happens. The Zync with a toy hard limit is basically a subprime product offered by a prime lender. Use it well as a springboard to something else, but don't expect it to grow with you or you'll be sorely disappointed.
@jsucool76 wrote:I think initially they might have done that to some people, but for the most part you don't hear about anyone getting it lifted anymore.
In fairness, the Zync and even the rest of the charge card products are sorta sub-prime especially if you go off the actual FICO definition of prime vs. subprime.
In any event, the vast majority of this forum uses Amex charge cards as a foot in the door, and the Zync works just fine for that. Regardless of whether you consider it prime or not, an Amex relationship is still absolutely worthy to have for one's future FICO plans... which likely everyone on this forum has some sort of goal on.
Edit: in thinking about it more, it doesn't surprise me that the Zync limit wouldn't be removed: I don't think Amex considers the Zync as one of their goal cards, namely they're hoping you'll move onto bigger and better things in the future.
Personally I'd be just fine with a $500 limit on mine, though I'm starting to think I have a reasonable shot at NPSL as well.... but for me it's all backdating and the eventual Amex revolver at some point in the future.
I can't really argue with this, but it's a heck of a lot better than my $39 AF CapOne stuck at $500 and my $39 AF Orchard that I had to request a CLI on to get to a $400 limit--and neither one has any rewards of any type. Coming from where I was--or where I'm at, as it were--the Zync, with its less than stellar rewards and $25 AF (waived the first year), is still a step up. I'm happy as heck to have been approved for the $500 autopay version. 
The $500 PSL doesn't seem bad at first, but it becomes a pain having to constantly check your balance to make sure you don't get close to $500. I have an alert that messages me anytime my balance gets to $250, then I log on and pay it off. The inconvenience is even more so the first couple of statements because you cannot pay online between statements; you have to call in.
So essentially, you can't purchase anything over $250. Even if they had a $1000 PSL it would make life a lot easier.
@migo13 wrote:The $500 PSL doesn't seem bad at first, but it becomes a pain having to constantly check your balance to make sure you don't get close to $500. I have an alert that messages me anytime my balance gets to $250, then I log on and pay it off. The inconvenience is even moreso the first couple of statements because you cannot pay online between statements; you have to call in.
So essentially, you can't purchase anything over $250. Even if they had a $1000 PSL it would make life a lot easier.
On the incidental expenses that the Zync was designed for (look at the packs in general and their reward caps) $500 limit is sufficient for most people.
While I agree for those of us with higher incomes and correspondingly higher single expenses (buying nicer / more expensive things theoretically) this isn't a goal card under Amex's suite of charge or revolver products. You're sort of expected to graduate to something higher, and it was originally designed for students or people with limited credit history... with the exception of a few schools, and those of us transitioning from a cash-based existence, generally speaking that category of users tend to have less disposable income.
Utilities, food, etc, can all be done with a $500 limit when we're talking 20-30k annual salary.
I agree it's a little cumbersome, but for the incidental expenses Amex seems to have created it in mind for, it's not bad.
In any event, I'd reiterate that people rarely get the Zync just for the Zync: eventually we all graduate to better cards either from Amex or another lender assuming we keep ourselves clean... so it's not a forever card except as a reward accelerator for, wait for it, a higher tier charge card .
Yeah. I spoke to a rep and got the 6-month spiel, so we'll see what happens. If they don't remove the PSL I plan on apping for the Green or Gold then downgrading back to Zync after a year. I do the majority of my spending at restaurants (2x points), and the grocery stores I shop at are all green (Whole Foods and Trader Joes). With the free Eco pack, I get double points on my groceries so the Zync pays me more than any of the other cards would. This may change when I move out of LA and start traveling more, but for now Zync is perfect for me.