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I have had the Zync since September of last year with the $500 limit (which was never lifted), As most of you probably know you cannot apply for another amex product if you have this particular card.
I was originally going to stick with the card for another year since it is my only rewards card, this is no longer the case however since i was recently approved for the Chase Freedom which has better rewards anyway.
So i was thinking of closing the card and applying for the PRG, the issue is that i am not too confident of getting approved.
My EX Fico when i got the Zync a year ago: 623
My Ex Fico 6 months ago: 660
My Ex Fico Now: I am not sure but i assume it should be a bit higher now.
@Denny33142 wrote:I have had the Zync since September of last year with the $500 limit (which was never lifted), As most of you probably know you cannot apply for another amex product if you have this particular card.
I was originally going to stick with the card for another year since it is my only rewards card, this is no longer the case however since i was recently approved for the Chase Freedom which has better rewards anyway.
So i was thinking of closing the card and applying for the PRG, the issue is that i am not too confident of getting approved.
My EX Fico when i got the Zync a year ago: 623
My Ex Fico 6 months ago: 660
My Ex Fico Now: I am not sure but i assume it should be a bit higher now.
I agree with web, close it in January and get the backdating. 660 should be good enough for the PRG also considering you have solid history with AMEX.
I'm getting old and tired, but I thought you had to closed any previous charge accounts for at least 90 days to be eligible for the PRG signup bonuses? Our household income is around 200k and I can't remotely begin to justify the PRG annual fee even with the signing bonus, although I don't have a travel-centric job. The last time I ran the numbers, you would have to run about 20k through the card, at least 7500 in multiplier categories, to make this a competitive card vs others. If you are going to close the Zync anyway, why not close now, then apply for PRG in mid-January and get the signing bonus. Then a year from January, decide if you are using it enough to justify the fee.
why exactly is it better to apply in January?
@Denny33142 wrote:why exactly is it better to apply in January?
Backdating. Your member date on your new PRG in January will be the same year your Zync was, thus making your AAoA (Average Age of Accounts) longer.
because if approved now, the card will have an open date of 10/11. If you wait until January, it will have an open date of 1/11, thus gaining you 10 months of history for nothing. All future amex cards will have the month you were approved and the year of your first card as an open date. That is what people mean by "backdating" and is unique to Amex.
@Cdnewmanpac wrote:I'm getting old and tired, but I thought you had to closed any previous charge accounts for at least 90 days to be eligible for the PRG signup bonuses? Our household income is around 200k and I can't remotely begin to justify the PRG annual fee even with the signing bonus, although I don't have a travel-centric job. The last time I ran the numbers, you would have to run about 20k through the card, at least 7500 in multiplier categories, to make this a competitive card vs others. If you are going to close the Zync anyway, why not close now, then apply for PRG in mid-January and get the signing bonus. Then a year from January, decide if you are using it enough to justify the fee.
This is why I carry zync vs gold or pr gold.... I do not travel enough to justify the fee. Most of my spend is in zync pack catagories. My husband is an additional card member. Our YTD spend is 29.3k.... 4% business services 12% communications 1% entertainment 39% merchandise and supplies 12% restaurant 20% transportation 11% travel