I got Zync in Aug. 1st statement closed on 8/27 and that's when the AF was charged. As csol47 stated, the packs charge immediately.
2nd statement cut on 9/28 and a few days laters it started reporting to the CA's.
I've been PIF after the statements cut, so it's reporting as an open account with the past balance. (I just know learned to PIF before the closing date 
)
^ yep like they said mine was on the first statement
Starting Score: EQ 515 TU 490 EXfaco 510
I got my card today! It took 5 days (not counting Sunday and the holiday on Monday) to get to NY by USPS. Haven't even thought about touching the "Check your spending ability" button yet. 
Will be heading to Starbucks tomorrow morning to break it in!
Also, I'm preparing myself for a F/R already because right after I was approved for the Zync, I was also approved for 2 other cards with a total of $8000 CL. Going from $600 combined CL to $8600 is a huge jump and I'm expecting some scrutiny from AmEx after they hit. Does anyone have experience in a F/R based on new accounts added to your reports?
Congrats on your Zync! Just got approved for mine...getting really antsy waiting for it to get here.
I also got the "sorry you weren't pre-approved" message, applied anyway and got approved instantly.
But I'm wondering about your last comment...I got approved for a card with $4,000 CL right before I got approved for the AMEX, is this bad? Will AMEX see my INQs all on the same day and throw up a red flag or something? Also, what exactly is an FR and what's the worst that could happen? I'm new to all of this.
@FloridaState12 wrote:Congrats on your Zync! Just got approved for mine...getting really antsy waiting for it to get here.
I also got the "sorry you weren't pre-approved" message, applied anyway and got approved instantly.
But I'm wondering about your last comment...I got approved for a card with $4,000 CL right before I got approved for the AMEX, is this bad? Will AMEX see my INQs all on the same day and throw up a red flag or something? Also, what exactly is an FR and what's the worst that could happen? I'm new to all of this.
Congrats to you too!
I'm not sure what causes them to flag your account, but everyone says AmEx is very conservative, especially with charge cards, and they spook very easily. I'll find out in a month or so after my new accounts post, I guess.
I've never had a F/R, obviously, but I think it entails them freezing your account until you give them tax return/income info. They may put a hard limit on your card after that. I'm not sure if that's every time for everyone or only if something they see makes you a little less credit worthy in their eyes. I have also heard of them closing accounts altogether after a F/R.
Basically it sounds like a huge pain in the ass and I hope I squeak under their radar for about a year until I app for BCE (although I've heard of people with revolving accounts also getting F/R but I think it's rare). I'd feel a lot better if I knew my actual credit limit on these cards!
@jla84 wrote:
@FloridaState12 wrote:Congrats on your Zync! Just got approved for mine...getting really antsy waiting for it to get here.
I also got the "sorry you weren't pre-approved" message, applied anyway and got approved instantly.
But I'm wondering about your last comment...I got approved for a card with $4,000 CL right before I got approved for the AMEX, is this bad? Will AMEX see my INQs all on the same day and throw up a red flag or something? Also, what exactly is an FR and what's the worst that could happen? I'm new to all of this.
Congrats to you too!
I'm not sure what causes them to flag your account, but everyone says AmEx is very conservative, especially with charge cards, and they spook very easily. I'll find out in a month or so after my new accounts post, I guess.
I've never had a F/R, obviously, but I think it entails them freezing your account until you give them tax return/income info. They may put a hard limit on your card after that. I'm not sure if that's every time for everyone or only if something they see makes you a little less credit worthy in their eyes. I have also heard of them closing accounts altogether after a F/R.
Basically it sounds like a huge pain in the ass and I hope I squeak under their radar for about a year until I app for BCE (although I've heard of people with revolving accounts also getting F/R but I think it's rare). I'd feel a lot better if I knew my actual credit limit on these cards!
Wow, really? Now you have me scared! How do they know when you get a new account? Do they pull your report randomly or something? What about inquiries...do they see those? I have a crapload of those.
I hope they don't request proof of income. I didn't actually lie, but I was kind of generous with my part-time income...I'm a college student with a job on the side, so my hours/pay varies. Sometimes I make pretty good money (corresponding with the income I put on my application) and other times, when the store is struggling, my hours are cut and my income declines. The latter is currently happening now, so I hope I can avoid this.
@FloridaState12 wrote:
@jla84 wrote:
@FloridaState12 wrote:Congrats on your Zync! Just got approved for mine...getting really antsy waiting for it to get here.
I also got the "sorry you weren't pre-approved" message, applied anyway and got approved instantly.
But I'm wondering about your last comment...I got approved for a card with $4,000 CL right before I got approved for the AMEX, is this bad? Will AMEX see my INQs all on the same day and throw up a red flag or something? Also, what exactly is an FR and what's the worst that could happen? I'm new to all of this.
Congrats to you too!
I'm not sure what causes them to flag your account, but everyone says AmEx is very conservative, especially with charge cards, and they spook very easily. I'll find out in a month or so after my new accounts post, I guess.
I've never had a F/R, obviously, but I think it entails them freezing your account until you give them tax return/income info. They may put a hard limit on your card after that. I'm not sure if that's every time for everyone or only if something they see makes you a little less credit worthy in their eyes. I have also heard of them closing accounts altogether after a F/R.
Basically it sounds like a huge pain in the ass and I hope I squeak under their radar for about a year until I app for BCE (although I've heard of people with revolving accounts also getting F/R but I think it's rare). I'd feel a lot better if I knew my actual credit limit on these cards!
Wow, really? Now you have me scared! How do they know when you get a new account? Do they pull your report randomly or something? What about inquiries...do they see those? I have a crapload of those.
I hope they don't request proof of income. I didn't actually lie, but I was kind of generous with my part-time income...I'm a college student with a job on the side, so my hours/pay varies. Sometimes I make pretty good money (corresponding with the income I put on my application) and other times, when the store is struggling, my hours are cut and my income declines. The latter is currently happening now, so I hope I can avoid this.
Ah, that's more info as to why you're concerned. Ok, understandable. First, they can't do a HP unless you give them a reason, like asking for a CLI (not applicable, unless you hit the check limit button, don't click it), they do soft pulls to see what they can (that's allowed). Don't apply for any more credit, the inq's will drop your score, possibly enough that Amex considers it worth investigating. Do not allow any of your accounts to post a late (lowers your score, again, same reasoning). Do not put more on the Z than you can pay off right away (don't guess, be sure you've got the cash on hand, not what the next 2 paychecks "should" be). No Amex charge is an emergency card (like a card that might carry over in case you have a rough spot for a month, I know life happens, but I mean serious emergency).
It sounds like you've started out with at least a couple good cards for your history. Again, they're actually both "Faberge Eggs" (actually, any you have are).. Keep the revolver balance as low as possible, preferably, PIF with no balance (you don't want to get in a tight spot, it's easy to do). The Z: as mentioned above.
I think you mentioned Cap One somewhere, I don't recall if you have them or not as well. All these cards are going to be the biggest test of self restrain and will power you will ever have regarding financial responsibility. If you take my (and others advice similar to the above) those accounts will grow (age) with you and do nothing but raise your score (and greatly reduce your chance of being FRd by Amex). When you graduate and apply for a job you're interested in, the employer will possibly look at those scores (or your actual report, depends on what you sign when applying for employment) and if they're higher, they'll see you can be a responsible adult and probably a responsible employee (it does help in the job market to have that backing you just in case,as well as insurance, it's not just about credit).
If you have some balances, try to get them down. See what your budget allows, if you're debt free (no balances) and you have some cash tucked away, that's when you can splurge a little (I do mean little). The cheaper you live in college, the "larger" better you'll probably get to live after college. And you'll have learned (ok, developed) good habits with money (which is an education in itself, one many don't do so well at). You'll also be that much closer to getting a mortgage if you want a house out of college (not right out, but sooner than most probably).With these cards you're not just building your credit file, you're kind of building your future a bit.
The fact that you're looking on these boards, reading, trying to learn about how all this works, proves you can probably handle the cards, and even some of us giving a bit of advice. I for one would really like to see you come back here years down the road, with never a late, never a BK or another collection, just a great score, and help others understand how it's done that come here seeking advice on "the road map of credit life".
You have in your wallet the beginning foundation of your credit for life. You're building (not rebuilding), from what you learn here you should never have to rebuild your credit in the future. And you've really started a good foundation, best thing you could do now is "garden" around it.
I hope you don't mind the extra input....
P.S.. And you thought your parents were bad 
LOL
