Amex Zync secured card offer

[Anonymous]

Applied for the amex zync credit card last week and got the 7-10 day message, and somebody from Amex called me today and told me they cant approve me for that zync card, but they have a offer for approve me for a secured card with a collateral.

Can somebody advice me if I should take that offer and anybody ever heard of a secured zync card and its chances of graduating to a regular card?

I did ask what are the chances of it getting unsecured and she said there is no guarantee and they do review the account periodically and it might take upto 3 years for it to graduate.

So i am kinda confused if i should take the offer or better off waiting like 6 months and try again.

Have a couple of judgements from 2005, no lates or collections.

Oldest account open is 4 months which is orchard bank.

following is my list of accounts open right now

Orchard Bank $500

Bofa Secured $1000

Wright patt credit union $1000

Capital one secured $500

Capital one $500

Fico scores

TU 680

Eq 661

Experian PLUS score 741

[ArisGreek]

Say what? Are you sure? I've never heard of this.

[mross1080]

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@ArisGreek wrote:

Say what? Are you sure? I've never heard of this.

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+1 Never heard of this either.

[fused]

I never heard of an Amex secured card too. Hopefully, the OP will tell us more.

[Creditaddict]

American Express venturing into Secured seems way out in left field to me... Can't wait for updates please!  If true... you take it as fast as you can!

[jefftca925]

I have never heard of this either and I would be cautious when recieving a call from someone trying to get you to sign up for a program where you need to send them $$ to establish an account.  Sounds like a scam.  I'd call American Express at one of there main CS numbers to verify if they even have such a program.

[Anonymous]

I'm no expert at Amex, but am at computers. I don't mean to be alarmist, but you need to take steps to ensure that everything is ok.

Do the following:

1) Call Amex and ask them if this phone call you received was legit. If they don't know, then tell them exactly what you did and make sure that they have your application on file.

2) If they have no idea what you're talking about OR don't have your application on file, then you may have a problem on your computer (virus, trojan, who knows what). Note that even if you applied on Amex's site and they do have your application, it's still possible that there is a root kit, key logger, or some other mality on your computer which is sending your information to hackers or other bad people (trying to get either money or your identity).

Since the stakes are high (your SS#, etc.) you need to be sure this isn't the case. If you think your computer has been compromised, get someone who knows what they're doing to look at it. It might be better to turn if off or rebuilt it if you have a root kit (these are very hard to get rid of).

If your computer has been compromised, you should freeze your reports and take steps to protect your identity immediately.

Again, I don't mean to sound alarmist, but I work in this field and soooo many people have root kits and other bad things on their computer and don't know about it.

Good luck!!!

[Anonymous]

That's unheard of

[Anonymous]

well I am a computer engineer, and I am aware of fraud and stuff and trust me its not. The number i got a call from is 801-945-5000 which directly connected me to amex under writing dept and I did call them twice to just make sure the secured card offer is indeed true because as all of you are surprised i was shocked too , amex would have a offer like that for me. 

Well my question and the whole purpose of this thread was to find out what I am supposed to do and what my options are and some good suggestions, and looks like everybody just was focussing on me get scammed or something . I appreciate your concern guyz but trust me it was american express under writing dept that called me with this offer , and i have 30 days to make a decision.

[Ron1]

I googled the number and it's the New Accounts Dept in Salt Lake City, UT.  I think the number is legit. They might offer you secured credit card like Optima Card, NOT Secured Zync. They had that over 10 years ago and it was discontinued. I didn't qualify for it because I was blacklisted with Amex. Did they mention about the docs you need to fill out like Secured Savings or Secured Card Apps?  Did they tell you the annual fee?  When are they going to return your deposit? They should mail you some kind of forms to open the account in the mail.

Ron.