Zync denial, then offer

[481]

I was flatly denied the AMEX Zync a year ago. I received a pre-selected offer for it several months ago but was denied again online. I apped for it today and received the denial again, however I was offered the option of a $500 HL w/ auto debit which I selected. I was not asked for any bank account information at the time. The application is "in process". Im confused if this is an approval (they denied me for the regular then offered the HL option) or if this still needs to go through underwriting. I've been rebuilding the last year and went from a low of 450 EQ to 618 currently. I still have a few unpaid collections from 4 years ago. I currently have just one CC, Capital One with on time payments the last year and a half, however current UTIL is 50%. All other CCs have been closed for over 3 years and show PIF. I have no debts outside of student loans which are always paid on time.

On a side note, what bureau does AMEX pull?

[dp321]

AMEX pulls Experian pretty consistently, like 95% of the time. That is all I have for you though.

[ptkdude]

I got this exact same offer a week ago, selected the $500 with autopay, and was declined.  I called them about it because I thought it was odd that the system would offer me something then decline me, and they told me it should have asked for my autopay information, and that there was nothing they could do.  Their only suggestion was to wait 30 days and apply again.  Clicking on the "more details" link on the website to find out why I was declined resulted in a blank page.

I did get a hard pull on Experian, and the rep said I was declined due to "previous experience with consumers with a tradeline I have" which has to be First Premier.  I had actually closed that account back in June, but Experian still shows it as open.

[dp321]

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@ptkdude wrote:

I got this exact same offer a week ago, selected the $500 with autopay, and was declined.  I called them about it because I thought it was odd that the system would offer me something then decline me, and they told me it should have asked for my autopay information, and that there was nothing they could do.  Their only suggestion was to wait 30 days and apply again.  Clicking on the "more details" link on the website to find out why I was declined resulted in a blank page.

I did get a hard pull on Experian, and the rep said I was declined due to "previous experience with consumers with a tradeline I have" which has to be First Premier.  I had actually closed that account back in June, but Experian still shows it as open.

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So AMEX is actually picky enough to sieve out credit rebuilders? Learning new things everyday.

[481]

Then I'm sure I'll get declined. I figured I was on the bubble so to speak when they preselected me a few months back and thought I'd app again. Makes me wish I would have opted for the $200 limit LOL!

[Anonymous]

I was approved this week for an AMEX Zync card. My question is prior to applying and from reading this thread... what is this auto-pay $500 CL option everyone keeps talking about? I applied, it said congrats, gave me a few mins. to write down an account #, then asked me to set up account access. I was NEVER asked for my bank account info, nor told what any kind of spending cap (if any) was being applied to my account. Under my balance due, it does say $250.00 CL. From what I understand this is a "normal" temp spending cap until the card arrives/is activated. Does this mean I will not be capped at $250 or $500 CL? I pulled my EQ Fico after applying and it was showing a 686. 689 Credit Sesame. My highest CL is Discover More @ $5K. 27% UTL across the board. Never late.

[ptkdude]

If the system is not able to approve you for the standard Amex Zync, it sometimes gives you two offers:

1) a Zync with a $500 limit, and you must sign up for autopay, or

2) a Zync with a $200 limit, no autopay required.

From what I understand, if you accept offer #1 and are approved, the system immediately has you enter your autopay information.

[score_building]

GL OP hope it goes through this time but ZInc app with open collections and 50% UTI may not have great odds of approval, even for the builder version

and multi app clutters reports with EX inq which can further impede approval odds once profile has improved.  

If it is not approved this time around would consider improving profile before reapp., using inq more sparingly, regardless of receipt of prescreened offers.