If I'm not preapproved for Zync, should I even apply?

[Anonymous]

I would like to get an AmEz Zync before I enter my next round of gardening.  If the website says I am not preapproved for ANY AmEx card, does this mean I shouldn't even bother taking the hard pull ding and possible blacklisting in order to see if they would approve me?

[JaseT]

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@Anonymous wrote:

I would like to get an AmEz Zync before I enter my next round of gardening.  If the website says I am not preapproved for ANY AmEx card, does this mean I shouldn't even bother taking the hard pull ding and possible blacklisting in order to see if they would approve me?

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I applied last June for a Zync and was denied. Last week I checked the AMEX preselector and it didn't have anything for me. I went ahead and appd for Zync and was instantly approved. Followed that up with a PR Gold app and was also instantly approved for it.

[Anonymous]

Amex has been approving most people these days for their charge cards, so no better time than now. Good luck!

[RHAL]

HEHE, including me. Sorry I am just excited.

[vish1]

I agree Amex has been a bit easy with its approvals lately, but if you are not pre selected, you should ensure that you have filed your taxes this year and are willing to go through F/R (aka income verification)

[Ron1]

Did you have a charge-off account with Amex? How long was it? Your score is good enough to apply for Amex Zync. Amex usually pulls EXP.

Ron.

[ficonightmare]

Why would you think you'd get denied? Your scores are def. good enough and if you have no baddies- they'd love you.

When I apped, my scores were much lower, wasn't pre-approved, and had 2 paid CO's and a late reporting on EX. I still got the ZYNC. This was last November.

[Anonymous]

Vish1- If I efile my 2010 taxes this weekend, would that enable AmEx to pull my 2010 tax return for income verification within 30 days (or however long they give me to submit the paperwork?)?

Ron- No, I’ve never had an account of any kind with AmEx, and no late payments or other issues with any other creditor.

ficonightmare- When I was 5 years old, my parents filed for bankruptcy.  While their financial practices improved after that, I still grew up with that cloud over my head and that makes me extremely cautious with respect to money to this day, 21 years later. (Perhaps too cautious).  

This community is more knowledgable about this topic than I am, so I was just testing the waters to see what people said.  I know everyone here saying "go for it!" could still result in a rejection from AmEx, but in my mind it's better to hear "um, yeah, NO" from you fine folks before applying and hearing that from AmEx.

I know that Zync is targeted toward 20-something professionals, but I'm not sure I fit into their targeted income bracket, especially with my school loans (45k income, 30k school loans).  I have a BofA Visa with a 16k CL with less than 1% utilization and was approved yesterday for a Discover More with a 4k CL.  I kind of want all of the dings at once so my AAoA can grow the next 2-3 years while I hack away at the school debt, so I can then get an auto loan or mortgage at great rates.

[vish1]

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@Anonymous wrote:

Vish1- If I efile my 2010 taxes this weekend, would that enable AmEx to pull my 2010 tax return for income verification within 30 days (or however long they give me to submit the paperwork?)?

Ron- No, I’ve never had an account of any kind with AmEx, and no late payments or other issues with any other creditor.

ficonightmare- When I was 5 years old, my parents filed for bankruptcy.  While their financial practices improved after that, I still grew up with that cloud over my head and that makes me extremely cautious with respect to money to this day, 21 years later. (Perhaps too cautious).  

This community is more knowledgable about this topic than I am, so I was just testing the waters to see what people said.  I know everyone here saying "go for it!" could still result in a rejection from AmEx, but in my mind it's better to hear "um, yeah, NO" from you fine folks before applying and hearing that from AmEx.

I know that Zync is targeted toward 20-something professionals, but I'm not sure I fit into their targeted income bracket, especially with my school loans (45k income, 30k school loans).  I have a BofA Visa with a 16k CL with less than 1% utilization and was approved yesterday for a Discover More with a 4k CL.  I kind of want all of the dings at once so my AAoA can grow the next 2-3 years while I hack away at the school debt, so I can then get an auto loan or mortgage at great rates.

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I will wait for the refund (which is essentially a guarantee that IRS has your latest taxes on file) before I click apply.

[Anonymous]

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@vish1 wrote:

I agree Amex has been a bit easy with its approvals lately, but if you are not pre selected, you should ensure that you have filed your taxes this year and are willing to go through F/R (aka income verification)

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Vish, I'm not sure what your reasoning is for this.  It's not going to make a difference if OP files his taxes now or not.  I think some people here may have an unfounded and illogical fear of Amex.  And even if they did want to FR, I don't think they would do it at the time of application.

OP, go ahead and apply.  Your scores and income are good and virtually everybody is getting approved for Zync.