Amex Gold, Green, or Zync questions

[Mekitcat]

I went and got my mail this morning and in it I had a envelope that said,  "You've been Selected" I seen it was from Amex so I opened it, it was for the Green card. 

The letter said:

You've been selected Ms. (my Name and address)

RSVP #xxxx etc

Dear (my name)

"Congratulations. Your status entitles you to the same level of confidence that comes with knowing you have American Express on your side. Whether it's for making local purchases or traveling around the world, there's something special about having all the benefits, service and support of the American Express Green Card."

Then it went on to give themselves kudos about how they won JD Power's customer satisfactions study and went on to talk about the benefits of having the card etc. It appears all I need to do is accept the card.

So out of curiosity  I went to their website to do the pre-selected and it showed:

CONGRATULATIONS, (my Name). YOU'RE PRE-SELECTED FOR THE FOLLOWING CARDS:

American Express Gold Card,  American Express Green Card,  ZYNC from American Express.

Ok now for my questions, will any of these cards help/hurt my credit score?

If it helps what card is better to have?

What would be my chances of getting the gold card when they are basically giving me the green one?

I was thinking if I did get the card (any of them) I would probably sock drawer it, good idea?

I had an Amex a really long time ago that I defaulted on, is this even a good idea to get one? and it was a regular credit card, I couldn't even tell you the CL its been so long ago.

Then I was thinking would it be possible that they would back date it even though I defaulted?

Would I be better off getting my scores up higher and apply for one of their credit cards instead?

What would help me in the long run? I'm not trying to buy anything or get a loan, just working to get my scores up is all.

Sorry for the list of questions but please Help!!! I don't know what to do!

[DI]

I think you should wait for them to send you  3-4 more pre-approval.  Also you may want to wait until you get your scores in the mid 700s.  In regards to backdating, my understanding is if you defaulted with them in the past, they won't backdate your account. 

This is just a suggestion.  I would call to see if my name/SSN is in AMEX's system before apping.  If not, that means they may not have a record of the default account.  And you may be able to get the account backdated if they just take your word, if you decide to apply for a new account.  Good luck! 

[tinuviel]

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@DI wrote:

I think you should wait for them to send you  3-4 more pre-approval.  Also you may want to wait until you get your scores in the mid 700s.  In regards to backdating, my understanding is if you defaulted with them in the past, they won't backdate your account. 

This is just a suggestion.  I would call to see if my name/SSN is in AMEX's system before apping.  If not, that means they may not have a record of the default account.  And you may be able to get the account backdated if they just take your word, if you decide to apply for a new account.  Good luck! 

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They did for me.

[Mekitcat]

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@tinuviel wrote:

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@DI wrote:

I think you should wait for them to send you  3-4 more pre-approval.  Also you may want to wait until you get your scores in the mid 700s.  In regards to backdating, my understanding is if you defaulted with them in the past, they won't backdate your account. 

This is just a suggestion.  I would call to see if my name/SSN is in AMEX's system before apping.  If not, that means they may not have a record of the default account.  And you may be able to get the account backdated if they just take your word, if you decide to apply for a new account.  Good luck! 

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They did for me.

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Can you explain how/what happened for you if you don't mind? Was your account CO like mine? was it similar to what I said above in my post?

[tinuviel]

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@Mekitcat wrote:

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@tinuviel wrote:

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@DI wrote:

I think you should wait for them to send you  3-4 more pre-approval.  Also you may want to wait until you get your scores in the mid 700s.  In regards to backdating, my understanding is if you defaulted with them in the past, they won't backdate your account. 

This is just a suggestion.  I would call to see if my name/SSN is in AMEX's system before apping.  If not, that means they may not have a record of the default account.  And you may be able to get the account backdated if they just take your word, if you decide to apply for a new account.  Good luck! 

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They did for me.

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Can you explain how/what happened for you if you don't mind? Was your account CO like mine? was it similar to what I said above in my post?

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I just told my tale in a recent thread. Please take a look here:

http://ficoforums.myfico.com/t5/Credit-Cards/Garden-Club-Meeting-for-July-2011/td-p/962918/page/4

[Mekitcat]

Thanks for the reply DI

I don't have to be in a hurry to accept so waiting to see if more offers come would be fine.

I'm still working on my scores so it would all be in my favor.

Are these kinds of cards even beneficial to help my credit score?

I would like more input anyone else have some sound advice, ideas, and or experience?

[LisaPA]

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@Mekitcat wrote:

I went and got my mail this morning and in it I had a envelope that said,  "You've been Selected" I seen it was from Amex so I opened it, it was for the Green card. 

The letter said:

You've been selected Ms. (my Name and address)

RSVP #xxxx etc

Dear (my name)

"Congratulations. Your status entitles you to the same level of confidence that comes with knowing you have American Express on your side. Whether it's for making local purchases or traveling around the world, there's something special about having all the benefits, service and support of the American Express Green Card."

Then it went on to give themselves kudos about how they won JD Power's customer satisfactions study and went on to talk about the benefits of having the card etc. It appears all I need to do is accept the card.

So out of curiosity  I went to their website to do the pre-selected and it showed:

CONGRATULATIONS, (my Name). YOU'RE PRE-SELECTED FOR THE FOLLOWING CARDS:

American Express Gold Card,  American Express Green Card,  ZYNC from American Express.

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I got the exact same letter a few days ago and got the exact same results on the pre-selection page. First time I've ever been "selected" rather than "pre-approved" for a card. I can't decide if I want to go for it or not - I've read so many conflicting accounts on these boards of whether or not an AmEx is worth it any more. My scores are in the mid-700s, but I have some nasties from 2007 that might be a problem. And I really hate annual fees.

Sorry, I'm not really being helpful, I just wanted to share that I'm in the same spot. Good luck!

[Mekitcat]

Tinuviel, your post was interesting. I too am getting soft pulls on my EX report, 5 to be exact 3 are from EL Paso, TX and 2 are from Phoenix, AZ but they all have different names for each pull. The 3 from EL Paso are all the same address but it shows as:

American Express CO

PO BOX 981537
EL PASO TX 79998
(800) 874-2717

Date of request: 02/28/11

American Express 2

PO BOX 981537
EL PASO TX 79998
(800) 874-2717

Date of request: 03/30/11

Amex Account Review

PO BOX 981537
EL PASO TX 79998
(800) 874-2717

Date of request: 05/07/11

The ones for Phoenix have two different  numbered street addresses:

AMERICAN EXPRESS
19640 N 31ST ST. AVE
PHOENIX AZ 85027
No phone number available

Date of Request: 05/07/11, 08/03/10, 07/06/10, 08/05/09

AMEX
20022 N 31ST AVE # MC080403
PHOENIX AZ 85027
No phone number available

Date of Request: 08/26/10

Was any of you soft pulls like mine? Did they back date you? That would be great if I was able to get it back dated, I had my card in the late 90's great for timeline for sure!

I don't know if they pulled any more recently my CR was dated 06/16/11

I did a Google search on the addresses thinking maybe they moved because they were so close and I found this interesting link to a page here on my fico.

http://ficoforums.myfico.com/t5/Credit-Cards/Duration-of-Amex-Blacklist/td-p/851168

Oh the letter from them has a return envelope to Salt Lake City UT so I really wonder now more than ever what to do. I was hoping that someone would give me answers to my first questions I asked, like if it would help or hurt my credit having one of these cards. The back dating would help me I know.

[Walt_K]

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@Mekitcat wrote:

Tinuviel, your post was interesting. I too am getting soft pulls on my EX report, 5 to be exact 3 are from EL Paso, TX and 2 are from Phoenix, AZ but they all have different names for each pull. The 3 from EL Paso are all the same address but it shows as:

American Express CO

PO BOX 981537
EL PASO TX 79998
(800) 874-2717

Date of request: 02/28/11

American Express 2

PO BOX 981537
EL PASO TX 79998
(800) 874-2717

Date of request: 03/30/11

Amex Account Review

PO BOX 981537
EL PASO TX 79998
(800) 874-2717

Date of request: 05/07/11

The ones for Phoenix have two different  numbered street addresses:

AMERICAN EXPRESS
19640 N 31ST ST. AVE
PHOENIX AZ 85027
No phone number available

Date of Request: 05/07/11, 08/03/10, 07/06/10, 08/05/09

AMEX
20022 N 31ST AVE # MC080403
PHOENIX AZ 85027
No phone number available

Date of Request: 08/26/10

Was any of you soft pulls like mine? Did they back date you? That would be great if I was able to get it back dated, I had my card in the late 90's great for timeline for sure!

I don't know if they pulled any more recently my CR was dated 06/16/11

I did a Google search on the addresses thinking maybe they moved because they were so close and I found this interesting link to a page here on my fico.

http://ficoforums.myfico.com/t5/Credit-Cards/Duration-of-Amex-Blacklist/td-p/851168

Oh the letter from them has a return envelope to Salt Lake City UT so I really wonder now more than ever what to do. I was hoping that someone would give me answers to my first questions I asked, like if it would help or hurt my credit having one of these cards. The back dating would help me I know.

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You need to clarify your question.  Whether you have an Amex charge card isn't in and of itself a factor in your credit score.  Whether it is going to help or hurt your credit depends on a few factors.  If you dont' have any revolving lines, then adding the card will likely help your score.  But if you already have a decent mix of credit, then adding another account is likely going to hurt your score at first.  If your card isn't backdated, you will have a new account so it will lower your AAoA.  You'll also take a couple point hit for another inquiry.  I wouldn't count on it being backdated.  You should view Tinuviel's success as an exception rather than a rule.  If you do get backdated, that would be a good bonus, but don't count on it with a charged off account.

[Mekitcat]

Walt_K thank you for your reply.

I do have two other cc's one with Cap 1 and the other is HSBC both of which I just got 4/11, still new.

I also have a mortgage, and a van payment, none of which I have never been late on since I opened them. 2yrs on the home 1yr on the van.

I do however have a CA on my report that might fall off next month, I say might because on one of my CR's it says "to continue on record till Aug 2011" but the other report says "estimated date of removal 10/2011" That is the only thing on my reports that is bad.

I guess what I was really asking does a charge card look good on a report considering it isn't revolving? and would it be wise to sock drawer it?

Also would it look favorable to other companies to have a big name like Amex on your reports?

I want to be hopeful that it would be backdated it seems a few people on here had such luck.