American Express Green vs Zync, what is the difference?

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Pete838
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Postby Pete838 » Sun Oct 30, 2011 10:40 pm

newbiecredit wrote:hopefully my wf secured will be unsecured soon, i hope they upgrade me to the unsecured one.


Don't hold your breath for anything spectacular from WF. My personal experience is that even though I have several deposit accounts with them, and keep at least a few thousand dollars on deposit, they are very stingy with my credit limit. I've had a Visa card with them for 2 or 3 years now, and despite having a 780+ credit score and tens of thousands in limits with other banks they won't raise me above $500 CL. Honestly the only reason I've bothered to keep the account open is because I have my prepaid tolls account on auto-pay through that account and it's a pain to change it.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan


newbiecredit
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Postby newbiecredit » Mon Oct 31, 2011 12:53 am

really? dang it! i hope they let me graduate from my secured one and give me a decent limit. same here, been with them eversince... all my accounts are with them even my hubby's... we even have a CD with them. how long do they keep somebody for a secured credit card? or should i call their CS and ask if i can upgrade already?? good thing i got approved for amex coz at least i get rewards for stuff i buy.

ivotedale
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Postby ivotedale » Sun Nov 13, 2011 1:10 am

Now that it's been a couple weeks @NewbieCredit, how's the green treating you (if you've received it)?

As far as the Zync goes, I've personally been inactive on the card strictly because I've been using my Chase Freedom, for the free $200 after 3 months if you spend $500...and it has 5% cashback on restaurants; my Zync foodies pack pays only 2x's points, so the 5% makes more sense in that category/quarter.

In my experience overall though, the Zync has been good to me.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

newbiecredit
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Postby newbiecredit » Sun Nov 13, 2011 1:03 pm

i love it. i cant wait to get more points. i love their rewards coz i do purchase a lot over the internet and their points multiply a lot.. so i cant wait til i get my first statement and check out how much points i have for my first month. i used my green amex often instead of my debit coz of the rewards.

shaddix
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Postby shaddix » Sun Nov 13, 2011 11:22 pm

amex denied me a blue cash preferred with 722 fico on ex so i am apping for the zync instead. Any tips to make it worth my while? As soon as I am able to get the blue cash I plan on cancelling the zync as I don't want to pay an annual fee for a points system I don't even understand.

ivotedale
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Postby ivotedale » Sun Nov 13, 2011 11:41 pm

@Shaddix- it all depends on your spending habits. If you do travel considerably, I would at least shoot for the green; at least then you'll have the first year free, $95 annually afterward. Perhaps within a year's time you could be approved for the blue cash- not to mention you'll qualify for the better standard rewards program, not the rewards express.

On the other side of the coin, you can just shoot for the most basic tier of Zync, with no packs, $25 annual fee, and just use it as a stepping stone for a bit to get the Blue Cash.

What are the reason(s) you were denied for a blue cash if you don't mind sharing?
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

shaddix
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Postby shaddix » Mon Nov 14, 2011 8:57 am

BCP was denied outright initially. Called for manual review, it took them like a week and a half. Here is letter:

Reason(s) for Our Decision


Our scoring of your credit and other relevant information (See below)


We evaluated your application using a credit scoring system that considers various pieces of information, including your credit report. The following key factors contributed to our evaluation:


Too many recent credit checks. (Experian)[color="red"]4 Hards in last 12 months(verizon, chase, boa, amex)[/color]
Amount of credit available on accounts (Experian)[color="red"]Honestly don't get this, I have 6% utilization...[/color]
Your FICO? score (See below)
Lack of bank account or lack of bank account information.[color="red"]I didn't see anywhere to put bank account info on app???[/color]



Information About Your FICO? Score
We obtained your FICO score from Experian and used it in making our credit decision. Your FICO score is a number that reflects the information in your credit report. Your FICO score can change, depending on how the information in your credit report changes. On November 02, 2011, your FICO score was [color="red"]726[/color]. The FICO score ranges from 300 to 850. The following are the key factors that contributed to your FICO score:


Length of time accounts have been established.[color="red"]AAoA is indeed low, 1 year. Oldest account 23 months[/color]
Lack of recent installment loan information.
Proportion of revolving balances to revolving credit limits is too high.[color="red"]$650/10,500 ... Don't ask me.[/color]
Too many inquiries last 12 months.


So after that, I immediately applied for amex clear, since I heard that was easier to get than BCP. Denied for same reasons immediately.


Applied for zync, no paks, said in progress. Called this morning and they told me denied. I asked for a manual review and she said no. Kept trying to tell me that equifax(yeah they pulled EQ??) told them my credit utilization was high while I was telling her I just looked at my report 30 minutes ago and I have 6% util.....

Asked for a supervisor and he said "do you find any information about our reasons for declining you to be inaccurate" I said yes my credit utilization is very low. He said he would put it in for review. Now we wait again..........

trainercb
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Postby trainercb » Mon Nov 28, 2011 7:00 pm

@ shaddix any word on this? What last happened while waiting for it to be reviewed



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