@Anonymous wrote:
Here I'm having an issue that I can't get the best rewards from AMEX for having EXPRESS rewards program. I'm not a heavy spender; however, my AU is a avid traveler so I thought it would be a better to upgrade and max out the rewards if I were to upgrade to Gold. So basically, I wanted a product change because of the rewards program ( that is the main issues I'm having) and adding an AU under my name. I knew AMEX had a higher standard on the "Gold" that's why I didn't apply for it. My only way in would be apping for the Zync, and that's exactly what I did. Otherwise, I would've waited a few years before I applied for the "Gold". Apparently, I don't have the ability to product change as well.
If they were going to create another charge product, why not give it some decent rewards. That in my opinion is why I believe AMEX has tarnished their rewards prestigious reputation and lowering the standard. I might sound like a brat for not having my way, but I just want the best rewards from one of the greatest company around(American Express).
I'm extremely greatful to have the Zync & Blue Cash so don't get me wrong here. Zync is just not that appealing too me like it once did because I now realised the rewards is basic. Fortunately, it's because of the Zync, I was able to be approved for Blue Cash. Once, I have the opportunity to product change, I will max out all rewards point.
Like I said, I don't have the pride in the new "Zync", it doesn't offer much rewards for having an annual fee. Well, what can say right? The annual fee is only $25, maybe I should stop complaining and just have it upgraded. That would be a solution to all my problems....
Actually, CreditKid, I think you've explained your own point. Amex knows that Zync is a gateway to other cards, and that's why they can assign it to a less rewarding program. They don't want us to be completely satisfied with Zync, or we'd never want to upgrade and pay them an annual fee. What Amex wants:
- Access to a new set of consumers
- The opportunity to instill Amex loyalty into those consumers
- Protection against the higher risk of those consumers
- To keep those consumers motivated to move up to a higher-fee card
By offering the Zync, they gave a whole new group of people access to the Amex brand. I'm 25 and I've wanted an Amex for years, but am still a ways away from Gold or Blue Sky/Cash status. Like you, I would have enough travel running through this account to make it worth it (for me AND for Amex), but because I've been less than perfect in the past, I need a way in.
Zync is a perfect solution. It gives me a chance to show Amex my spending habits and behavior, and by all other accounts I shouldn't have too much of a problem getting Gold in a year. And I will, and I'll pay the fee gladly. It sounds like you will, too. If Amex gave full Membership Rewards on this card, no one would ever convert up, even more Gold/Platinums would PC down, and THEN the prestige would crumble.
By creating a new card, Amex protected the reputation of their existing cards while inviting a new subset to come in and give it a whirl. Like Travis-84 said, the risk of default is presumably higher, and we pay for that a little, but I'm honestly impressed that we can buy double points packs at all on this card. I, like you, don't plan on touching my rewards points until I convert to a Gold and can use them for travel. Amex must be assuming that most Zync customers will spend the points at the Express level instead of holding them until we have full membership, when the redemption is more costly for Amex.
All in all, I think Zync was a smart move for Amex, at least for the time being. Coming out of recession is the perfect time to reach out to young pro's who may have struggled to get their careers going. A lot of us have huge spending potential over the next few years, and by bringing us in now, Amex beats other rewards programs to the punch. My official take: Just enough prestige, just enough withholding. 
@smallfry wrote:Woody Allen.. Wouldn't want to be a member of a club that would have him.
Hahaha! When I read the OP last night (when there were no responses) the title was different regarding Amex lowering their standards. I had to immediately agree because they gave a card to ME. I didn't first get a Zync nor am I in my twenties. I think they definitely lowered their criteria for obtaining a card. The posts above me seem to explain why and I think it was a smart money move on their part. What I thought of Amex when I was younger and my father had one, versus what I think of them now, are two very different things. I'm definitely glad I have one of their cards but years ago, with the same CRs, they never would've given me one.
Starting Score: 648
@Anonymous wrote:When AMEX created and introduced the Zync, their main purpose was to target young adults ( 20's). AMEX lowered their expectations, because they understood that most people in their 20's are either still in college or don't bring in much of an income.
However, they know that people in their 20's are still big spenders, but they refused to give the Zync some decent rewards.
Like I said, what can I expect if the annual fee is only $25. I should stop complaining but I can't!!
If you don't spend big it doesn't matter what reward card you have. You won't be getting much in rewards. I also think its unwise to get any reward card with the expectation of getting something for nothing. If there are folks in their early 20's pushing that five figures through one card in one year period then there either get help from family or lying because they would need at least a 50k+ job right out of school to even entertain that kind of spending.
Annual fee cards are never a good idea IMO; however, the Zync fee is rather low. They have been giving folks 10,000 free points which will cover any Zync fee for years. Not much point in getting a reward card with a fee if you dont earn enough points in a year to cover said fee IMO.