After a recent round of posts in a prior Zync thread, I realized between getnthere's comment (thank you) and my own prior advice (get a tradeline that you want as soon as you possibly can), I simply bit the bullet and applied for the Zync. I'd thought I was going to be a Hail Mary approval when I started this credit building journey back in December or so of last year; however, apparently that wasn't the case:
Approved instantly, NPSL. Connect/Eco/Restaurant packs (yes I know Citi Forward / Chase Amazon > Zync; however, I'm trying to get by with this one last application in prep for a mortgage next year and backdating > rewards for me).
I listed income as 125K (which I can easily demonstrate through pretty ADP paystubs), financial assets in the 25k-49999 range on the application. EX report details for those that are curious: estimated 650 EX FICO (traditionally been slightly higher than my Beacon 5 score which was 646 two months ago with similar revolving utilization).
Derogs:
- Federal tax-lien still unresolved 5/2004 (I know I know)
- Paid state tax-lien 12/2010
- 11 inquiries, of which some are correctly coded as auto-loans (2 are from CC applications from last year) - most recent 12/29/2011
- 2 x 30 and 1 x 60 late on a closed BOFA revolver, 04/2010 DOFD, 60-day on 08/2010. 21 positive payments, 2 year revolving tradeline
- Paid collection, DOFD 07/2009, paid 01/2012 $196
Positives: little wierd as I have some doubled information, some may have been discounted
- BOFA secured card, opened 10/2011 $194/5000
- Lost BOFA secured card, reported closed, same opening date, lost 07/12 *** duplicate tradeline as above but reported seperate
- WFDS Auto loan: opened 12/2011, actually closed (re-fied last month not updated) but still reported open at balance $15,468/20,970
- Cap 1 nee Orchard unsecured: opened 12/2011, $0/400
- Cashcall installment loan: opened 12/2011, paid as of 07/2012
- USAA secured installment loan: opened 01/2012, balance $2,102/25000
- DCU secured card: opened 02/2012, $0/2000
- DCU Auto loan: opened 08/2012, balance $16,070/16,070
Ah, the joys of future backdating and a card I don't consider to be lame in any fashion, happy day 
.
Edit: I'd hit the card selector find your offers right before apping, had the usual "Sorry, we couldn't find anything for you" message.
Congrats!
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
CONGRATS!!!
Congrats! Zync is a foot in the door and you're set for backdating forever! You can always close the Zync in the future if you want. Rewards aren't the best, but for me $25 a yr for the backdating it gave me is well worth it!
@jamesdwi wrote:Congrats, wait till January and a bit of score increase, with your income you could be set for an AMEX revolver, AMEX loves high incomes. Then take advantage of some AMEX backdating love
I'm thinking 01/2014 actually. I might get approved 01/2013 as you suggest but I'm trying to put as much lipstick on the pig for the mortgage next year, and there's no sense taking an extraneous HP (assuming I get approved); TBH I don't really need the BCP until *after* the house when I start cooking again... haven't done serious grocery shopping in years .
None of the other Amex revolvers make any sense for me honestly, and about the only other card I possibly need for the next year would be some EMV-chip enabled one if I get stuck headed to the UK to open up an office there.
@bichonmom wrote:Congrats! Zync is a foot in the door and you're set for backdating forever! You can always close the Zync in the future if you want. Rewards aren't the best, but for me $25 a yr for the backdating it gave me is well worth it!
Yeah, the backdating benefit is worth way more than that to me even if it is of marginal benefit after the 3ish year range in my case.
I paid WAY more financing tradelines than that haha, compared to the rest of my expenses on my credit building journey, the Zync AF is laughably trivial (compared to 19.35% on 20k auto loan, or the Cashcall ~$450 for an unsecured installment tradeline I did trying to put tradelines on my report).
In any event, I'm pretty darned pleased with the approval, Becomes my default card for every non-foreign transaction (C1 if the limit can afford it) and gas/grocery transactions (BOFA 1-2-3). Does sort of promote my DCU secured card to irrelevancy... ah well, it's a positive tradeline still .
I wonder why you guys dont just wait until your score get high enough to get a Amex BCE ......I mean if you in mid 600 score then probably 6 months or 1 years then you would hit that score and qualify for their MAIN product then why bother to apply for a charge card Zync that basically like a Debit card but you do paid AF....
I mean 6 months its not gonna hurt you right ? i know their backdate stuff but really ? is that really worth to apply for it >?? ?? Just wonder ....
Starting Score: 560
WHOOOOOOOO HOOOOOOOOOOOOOOOO
AWESOME!!!!!!!! CONGRATS!!!!!!!!!!!!
I KNEW YOU WERE GONNA GET IT!!!!!!!!!!!!!!
I'm very pleased to hear that you FINALLY (LOL) pulled the trigger! i had plenty of faith in you
I am ECSTATIC to hear that you got approved and i know you will throughly enjoy having the card and its benefits!!
and don't give up on getting that lien removed, i have a feeling you are gonna have success with getting it fully removed.
@nicholasyud wrote:I wonder why you guys dont just wait until your score get high enough to get a Amex BCE ......I mean if you in mid 600 score then probably 6 months or 1 years then you would hit that score and qualify for their MAIN product then why bother to apply for a charge card Zync that basically like a Debit card but you do paid AF....
I mean 6 months its not gonna hurt you right ? i know their backdate stuff but really ? is that really worth to apply for it >?? ?? Just wonder ....
YES! it most certainly is! lol backdating can work absolute miracles for your AAoA as long as you get it established early enough (i.e getting ZYnc for most people).