Zync a dead-end card?

[Anonymous]

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@bichonmom wrote:

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@Anonymous wrote:

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@Anonymous wrote:

OP may have been better off trying one of the AMEX backdoor numbers listed here for recon.

With scores around 600, I wouldn't really expect an AMEX approval. That being said, if low numbers are from limited history and not past mistakes Amex might start OP out with a low limit card. Asking will only cost a phone call!

I want the BCP but really won't be properly positioned for about 6 months due to high utilization. 

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I am actually considering trying one of the backdoor numbers, within the next 2-3 months. I will wait till I can pay off my balance and then ask for a recon. I don't really have any baddies and I have a student loan from 2009 and opened my oldest account about 2 years ago

On a side note, I really cannot bring my self to apply for a BCP since I don't really think I would be able to make up the annual fee via reward bonuses, hopefully in the near future (when I graduate Dent school).

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You might want to find out if there is a time limit for recons. I can't imagine that you can recon 2 to 3 months later! I'd think there would be a 14 to 30 day window in which you can recon. After that, you probably would need to re-app. Most CCs have a 30-day limit to use the same CR. After that it's another HP.

Obviously the criteria for a BCP is higher than for a Zync. So, you might want to call and ask if you can be considered for the Zync on the same app. I don't know if this would work or not. I know you want the BCP, but you've already had the HP, which will be there for 2 years! You may as well give a call and see if you can get *something* for the pull. Even a Zync will definitely get your foot in the door w/them. And you can cancel it once you get the BCP if you don't want to pay the $25 AF.

JMO.

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Well, I actually called Amex and it turns out that they keep the application on file for a while. I believe it was 90 days, but don't quote me on that . I actually decided to wait till I can apply for a BCE. I just don't like that idea of canceling a card, kind of a perfectionist.

On a different topic, anyone catch the Packers blowout of the Raiders .

[birjest]

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@Uncle_Money wrote:

In my opinion,

Zync isn't a "dead end" card but can better be described as an entry level Amex card. However, let me dispel a myth right here and now.

It doesn't make a difference if you have 10 Amex accounts with a perfect history. If you're going to apply for a new Amex card, their automated underwriter will pull your credit and the computer makes the decision based off your credit report. If you have a blemish, high utilization or another negative factor then it's almost guaranteed you'll be declined. In the world of credit, we are nothing more then a 3 digit number. 99% of banks do not look at income or even your relationship with them. They look at credit. This is unfortunate but very true. I believe that even with a product upgrade, Amex will check your credit but with a soft pull.

An Interesting Story: I know the manager of a P.C. Richard's store. He told me he once had a movie producer come in and purchase a ton of electronics. He told me the customer's income exceeded 2 MILLION DOLLARS PER MONTH! However, his credit wasn't good. He applied for their store card and was declined. They wouldn't overturn the decision either. Now, here's a guy making over 20 MILLION DOLLARS per year! However, he still doesn't meet his credit obligations. See the overall picture? Just because he could have purchased the store if he wanted, doesn't necessarily mean he'll pay on time or even pay at all. Makes sense when you think about it and this is why banks don't look at that type of stuff.

Bottom Line: It all comes down to our credit reports. Banks do not look at other factors in most situations.

UM

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Thank You for "shock and awe" story.  I was a firm believer of Dave Ramsey, however, at the end of the day, someone is going to pull your credit report and I need my to be as good as possible.  When I can't rely on friends or family for emergency assistance, all I have is my credit cards, my name, and my scores.  (Sound like Scarface...)

[CS800]

I don't think any prime card can be a dead end unless they are a credit card that dont want to grow in CL.

The Zync is a great starter card. It was the first AMEX I got after 6 years and used it a lot. It was a good way for me to re-establish wiht AMEX.

[RockinRay]

+1 -

I have a Zync card because I do not want to pay the higher fees to Amex. It works just fine for me.

The points are not as good, agreed, but, the card is a great way to get your foot in with Amex and build a relationship with them.

In my case, I have a BCE with a now $25,000 line and I could have any of their cards - but why? And, the Zunc is a conversation starter!

JMO -

Ray 

[learnin113]

The zync is an awesome card.  Period.

[CS800]

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@RockinRay wrote:

+1 -

I have a Zync card because I do not want to pay the higher fees to Amex. It works just fine for me.

The points are not as good, agreed, but, the card is a great way to get your foot in with Amex and build a relationship with them.

In my case, I have a BCE with a now $25,000 line and I could have any of their cards - but why? And, the Zunc is a conversation starter!

JMO -

Ray 

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That's a nice CL Ray.

I just got my BCE since I didnt want to pay for AF on the BCP. How long have you had the BCE?

[Anonymous]

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@Anonymous wrote:

---

@bichonmom wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

OP may have been better off trying one of the AMEX backdoor numbers listed here for recon.

With scores around 600, I wouldn't really expect an AMEX approval. That being said, if low numbers are from limited history and not past mistakes Amex might start OP out with a low limit card. Asking will only cost a phone call!

I want the BCP but really won't be properly positioned for about 6 months due to high utilization. 

---

I am actually considering trying one of the backdoor numbers, within the next 2-3 months. I will wait till I can pay off my balance and then ask for a recon. I don't really have any baddies and I have a student loan from 2009 and opened my oldest account about 2 years ago

On a side note, I really cannot bring my self to apply for a BCP since I don't really think I would be able to make up the annual fee via reward bonuses, hopefully in the near future (when I graduate Dent school).

---

You might want to find out if there is a time limit for recons. I can't imagine that you can recon 2 to 3 months later! I'd think there would be a 14 to 30 day window in which you can recon. After that, you probably would need to re-app. Most CCs have a 30-day limit to use the same CR. After that it's another HP.

Obviously the criteria for a BCP is higher than for a Zync. So, you might want to call and ask if you can be considered for the Zync on the same app. I don't know if this would work or not. I know you want the BCP, but you've already had the HP, which will be there for 2 years! You may as well give a call and see if you can get *something* for the pull. Even a Zync will definitely get your foot in the door w/them. And you can cancel it once you get the BCP if you don't want to pay the $25 AF.

JMO.

---

Well, I actually called Amex and it turns out that they keep the application on file for a while. I believe it was 90 days, but don't quote me on that . I actually decided to wait till I can apply for a BCE. I just don't like that idea of canceling a card, kind of a perfectionist.

On a different topic, anyone catch the Packers blowout of the Raiders .

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i turned it off,,, a few minutes into the second quarter,,, i could not take it any more

[CS800]

Although mt blood pressure was spiking with fear watching the Patriots, I'm glad they won