@Anonymous wrote:Thanks for the reply. Would you recommend me charging something to the account every month and then waiting until the statement "prints" to pay it down to $0? Right now, as soon as a charge appears, I pay it off immediately instead of waiting for the statement. For some reason, I just hate the thought of carrying a balance. Thanks again for the advice.
Yes, it only reports a balance if you let it stay there until they cut a statement. Makes no sense to me either but it is what it is. Also, I added to my previous message. 
@sunshine7157 wrote:Yes, it only reports a balance if you let it stay there until they cut a statement. Makes no sense to me either but it is what it is. Also, I added to my previous message.
Thanks. I'll do that from now on. And to answer your question, I wanted a Zync to build a relationship with AMEX, the low fee and...not gonna lie..the way it looks. I know it doesn't offer much in terms of rewards, but, I think it is a good starting point. I don't doubt I can get approved for a Gold, but, right now I won't benefit from the card at all. The only thing that worries me about Zync is that it is not upgradeable. So, if I get a Gold or Plat a year or 2 down the road (when it will make sense), I'll still have that Zync card, which would probably get annoying (having 2 amex accounts). The Sapphire Preferred (taking another look at it), doesn't seem to offer me much benefit to me right now either.
@Anonymous wrote:
@sunshine7157 wrote:Yes, it only reports a balance if you let it stay there until they cut a statement. Makes no sense to me either but it is what it is. Also, I added to my previous message.
Thanks. I'll do that from now on. And to answer your question, I wanted a Zync to build a relationship with AMEX, the low fee and...not gonna lie..the way it looks. I know it doesn't offer much in terms of rewards, but, I think it is a good starting point. I don't doubt I can get approved for a Gold, but, right now I won't benefit from the card at all. The only thing that worries me about Zync is that it is not upgradeable. So, if I get a Gold or Plat a year or 2 down the road (when it will make sense), I'll still have that Zync card, which would probably get annoying (having 2 amex accounts). The Sapphire Preferred (taking another look at it), doesn't seem to offer me much benefit to me right now either.
Oh, contrairre. Getting the Zync first does have its benefits. Once you're in the door with AMEX things start happening! First of all, once you are an AMEX member you get to apply for any of their credit products and if approved, they back-date your accounts to the date you first joined their family. This in time helps keep your AAOA higher. And you wont get dinged with the 'new account' so long as your original AMEX account is more than a year old at the time. Secondly, if you apply for a second (or third or fourth AMEX cc), if you are denied they only sp your credit report. A hard pull will be applied only if you're approved which makes apping alot less damaging. I LOVE amex for all these reasons. They are excellent to their customers.
@sunshine7157 wrote:
@Anonymous wrote:
@sunshine7157 wrote:Yes, it only reports a balance if you let it stay there until they cut a statement. Makes no sense to me either but it is what it is. Also, I added to my previous message.
Thanks. I'll do that from now on. And to answer your question, I wanted a Zync to build a relationship with AMEX, the low fee and...not gonna lie..the way it looks. I know it doesn't offer much in terms of rewards, but, I think it is a good starting point. I don't doubt I can get approved for a Gold, but, right now I won't benefit from the card at all. The only thing that worries me about Zync is that it is not upgradeable. So, if I get a Gold or Plat a year or 2 down the road (when it will make sense), I'll still have that Zync card, which would probably get annoying (having 2 amex accounts). The Sapphire Preferred (taking another look at it), doesn't seem to offer me much benefit to me right now either.
Oh, contrairre. Getting the Zync first does have its benefits. Once you're in the door with AMEX things start happening! First of all, once you are an AMEX member you get to apply for any of their credit products and if approved, they back-date your accounts to the date you first joined their family. This in time helps keep your AAOA higher. And you wont get dinged with the 'new account' so long as your original AMEX account is more than a year old at the time. Secondly, if you apply for a second (or third or fourth AMEX cc), if you are denied they only sp your credit report. A hard pull will be applied only if you're approved which makes apping alot less damaging. I LOVE amex for all these reasons. They are excellent to their customers.
I did not know that at all. The backdating would be great for aaoa and I'll have a nice "12" on there..forever. I'm going to think it over and decide what to apply for. I'm leaning toward Zync. If I do wind up getting Gold/Plat in a year or two, I guess I'll just use the Zync a few times a year to keep it active. Last question..do you think it is a good idea to apply for that $2k personal loan and repay in 2 months? It will cost me roughly $70 with fees and interest. Thanks again.
@Anonymous wrote:
@sunshine7157 wrote:
@Anonymous wrote:
@sunshine7157 wrote:Yes, it only reports a balance if you let it stay there until they cut a statement. Makes no sense to me either but it is what it is. Also, I added to my previous message.
Thanks. I'll do that from now on. And to answer your question, I wanted a Zync to build a relationship with AMEX, the low fee and...not gonna lie..the way it looks. I know it doesn't offer much in terms of rewards, but, I think it is a good starting point. I don't doubt I can get approved for a Gold, but, right now I won't benefit from the card at all. The only thing that worries me about Zync is that it is not upgradeable. So, if I get a Gold or Plat a year or 2 down the road (when it will make sense), I'll still have that Zync card, which would probably get annoying (having 2 amex accounts). The Sapphire Preferred (taking another look at it), doesn't seem to offer me much benefit to me right now either.
Oh, contrairre. Getting the Zync first does have its benefits. Once you're in the door with AMEX things start happening! First of all, once you are an AMEX member you get to apply for any of their credit products and if approved, they back-date your accounts to the date you first joined their family. This in time helps keep your AAOA higher. And you wont get dinged with the 'new account' so long as your original AMEX account is more than a year old at the time. Secondly, if you apply for a second (or third or fourth AMEX cc), if you are denied they only sp your credit report. A hard pull will be applied only if you're approved which makes apping alot less damaging. I LOVE amex for all these reasons. They are excellent to their customers.
I did not know that at all. The backdating would be great for aaoa and I'll have a nice "12" on there..forever. I'm going to think it over and decide what to apply for. I'm leaning toward Zync. If I do wind up getting Gold/Plat in a year or two, I guess I'll just use the Zync a few times a year to keep it active. Last question..do you think it is a good idea to apply for that $2k personal loan and repay in 2 months? It will cost me roughly $70 with fees and interest. Thanks again.
Hmmm. I don't know that I would go for the loan. You may get a ding for the inquiry, you'll get a ding for a new account, you'll lower your AAOA, you'll pay $70 & that's just for starters. I don't think it's worth it, personally. Also, I believe you get the best score(s) in your 'credit mix' catagory if the loan(s) are 'open' & if you closed it almost right away, it wouldn't do much for you. I really think you'd do more harm than good especially since you don't necessarily even need the loan.