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How Does Amex Zync Work

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FitNutrix
Valued Member

Re: How Does Amex Zync Work

1) 07/2012 Hasn't even reported yet Smiley Sad 

2) Credit cards and car loans (from father I have to get them removed on Monday)

3)NOPE Smiley Sad

4)NO nothing Negative Smiley Happy

 

And I have no idea really. It asks on credit report "source of income" and I mean I don't understand how a student could be a choice for income??? I make est.. 30K I work hard have to do a lot myself. 

 

So with those hopefully you guys can tell me the best route for success in getting my dream cards!! Smiley Happy THANKS this form is amazing


Starting Score: EQ: 651 FICO TU: 615 FICO EX: 629 FAKO (08/06/2012)
Current Score: EQ: 533 FICO TU: 523 FICO EX: 494 FICO
Goal Score: 700+ Across Board


Take the FICO Fitness Challenge
Message 21 of 25
webhopper
Moderator Emeritus

Re: How Does Amex Zync Work

If you work; you should put your job title down... such as if you work in a retail shop you would put retail.

FICO 8:
Goal: Gardening!
Message 22 of 25
cschick_old
Established Member

Re: How Does Amex Zync Work

I'm not senior enough to tell you exactly how to do this the most efficient way. I got approved for an AMEX Blue Everyday right after college, having held only one other credit card. Admittedly not with very good APR or high limit on the card. It takes a lot of patience to grow your credit score. I had one credit card in college which I gardened the whole 4 years, paid in full on time every month no late's or other baddies on my report. With time and patience you can get to prime cards, but it's not going to happen overnight. You can do it just be prepared for some time in the garden and possibly some rejection before sucess.

FICO: Ex 782(AMEX)
Cards: Amex BCE(2500), Discover(2500), Target (500)
App'd Amex & Target Jul 2012, Gardening til 2013 or beyond
Goals: Visa or MC Rewards Card after first home (2014-2015)
Message 23 of 25
Revelate
Moderator Emeritus

Re: How Does Amex Zync Work

Go get one more card now, I'm partial to a BOFA secured or student card in your case: good rewards and obtainable by folks with limited / no history.  Also whoever you have your checking account with is a good candidate too especially if they have a student card (student w/income = happy dream for lenders).

 

You need sixish months clean history to quality for n Amex Zync in your case.  That's roughly Jan/Feb next year when your C1 card shows 6 payment entries on your credit report.

 

Chase has gone a little pear-shaped recently with the Freedom: you might be able to get it sooner now, but anecdotally it's more like a year's worth of payment history.  If in happy coincidence your checking account is with Chase, I'd wander into a branch now and ask what's up, but I don't think they have a student card anymore but they might pleasantly surprise you.  Otherwise you're looking around 8/13.

 

Amex BCP: depends on your score.  If you have a Zync the application won't count against you, so once your score hits 720ish and you have at least six+ months using the Zync (a year is probably better), it's worth a shot.  

 

Finally if you really want to do yourself a favor, go see about getting a secured installment loan of some sort now in addition to the additional card; numerous lenders offer something like this (some of which you put a security deposit in a CD and take out a loan against it, others the bank loans "you" money but into a savings account you can't touch until the loan term is up).  Either way, you're spending a little bit now in what should be a nominal interest charge to help out your credit picture for future things.  The rough interest rate should be around 2-3% difference between the savings deposit and the interest charge on the loan for most lenders I'm aware of.  As an example, I have a $2500 loan from USAA secured against a CD, at 2% interest difference: or $50 per year.  I spend that much or more getting a sportcoat altered at my tailor, and for something which is a marked benefit for FICO purposes, it was a no-brainer for me.

 

 

 




        
Message 24 of 25
FitNutrix
Valued Member

Re: How Does Amex Zync Work

HEY my scores are updated my FICO are a little higher than FAKO scores is that normal??

Also, I applied for why would I apply for USAA CMS when I can get the credit report here, is it different here than there?? ( I have found that here doesn't show all but just recent which is what the credit agency see also correct?) 

 

So what should be my plane of action now that I have my scores!!???

FYI called AMEX and they said fax my Credit report over to them and then they will reconsider me TU/EX they wanted me to fax over. Should I fax over those reports or no? If so should I fax the ones from here or Equifax (pulled one last time today so I can have fresh credit report) 

 

so All questions I would like answered 

1)FICO is higher than FAKO with me is that normal

2)my credit reports here only show recent HP is that what credit agency see also just recent

4)should I fax them the stuff or not? 

5)Plane of Action with my current scores and inquiries?

 

THANKS for all your help guys and girls Smiley Happy 

 


Starting Score: EQ: 651 FICO TU: 615 FICO EX: 629 FAKO (08/06/2012)
Current Score: EQ: 533 FICO TU: 523 FICO EX: 494 FICO
Goal Score: 700+ Across Board


Take the FICO Fitness Challenge
Message 25 of 25
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