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mordantmaxim
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If I'm not preapproved for Zync, should I even apply?

Postby mordantmaxim » Tue Feb 01, 2011 10:49 am

I want to apply for AmEx Zync, but the website says I'm not preapproved for any of their charge or credit cards. Should I apply anyway and risk the hard pull ding and possible blacklisting? Has anyone else not been preapproved but gotten it?

I've got a 762(TU) and 757 (EQ), make $45,000 a year, have one BofA Visa with 16k CL and <1% utilization, was just approved 1/31/11 for a Discover More with a 4k CL, and have 30k in school loans. The only other inquiry is from 08/09 for an apartment rental. I have no late payments, no leins, no collections, and all three credit reports have the same info and no errors. I want to get an AmEx and then start credit score "gardening" so I can get my AAoA back up in the next 3-5 years for auto and mortgage loans.


my best wish
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Postby my best wish » Tue Feb 01, 2011 10:32 pm

What do you mean by not being preapproved? That means absolutely nothing to be preapproved for a credit card. Don't you know that?

Keysmasher
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Postby Keysmasher » Wed Feb 02, 2011 12:43 am

The Zync is incredibly easy to get! I was never sent a "preapproved" offer and I was instantly approved for the card. Judging by your scores and credit history, you should be able to get it. You could even get an American Express Gold or Platinum if you wanted to.

mordantmaxim
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Postby mordantmaxim » Wed Feb 02, 2011 11:46 am

my best wish --I don't appreciate your snarky remark, to be honest. My parents filed for bankruptcy when I was 5 and that cloud has loomed over my head ever since then. I was merely seeking guidance from those who are more knowledgable about a topic than I am because I received no appropriate modeling from my parents and am doing everything in my power to prevent credit problems in my own life.

I know people on a board saying "go ahead and apply based on your stats" could still result in a rejection. I know being preapproved for a card could result in a rejection. But I'd rather hear that I realistically stand no chance of approval or that I should wait to apply for a period of time from people on a board with more experience with this company and this industry than I have, than risk the hard ding and possible blacklisting.

Keysmasher -- thank you for your feeback. I applied yesterday based on the feedback from another forum and am just waiting to hear back from AmEx (I have a fraud alert on my reports because my house was broken into a while back).

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Elliot Castro
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Postby Elliot Castro » Wed Feb 02, 2011 12:33 pm

I know being preapproved for a card could result in a rejection.


I'm not sure I follow. If you mean PRE-APPROVED, by LAW the creditor MUST accept you as a client if you so wished. However, there are 3 exceptions to the law, which could result in the creditor getting around to giving you the card.

mordantmaxim
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Postby mordantmaxim » Wed Feb 02, 2011 12:39 pm

Elliot Castro -- I had read that there were exceptions, which is what I meant when I said "could result in a rejection." I did not know there were only three of them.

ashleyAMX
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Postby ashleyAMX » Wed Feb 02, 2011 1:41 pm

Best of luck on your application. It only took a matter of minutes to get a response from amex on my application. I had to call to get an answer because I refreshed my browser while it was processing. If you really want to know just call them and ask. I wouldn't worry about the preapproval. Just be realistic, always know your credit score and debt to income ratio. For the Zync in particular it is to help build credit so if your credit is good (not necessarily excellent) and your income can afford more debt, I don't see why not. Especially since from reading post on this forum the card is easy to get. Good luck :)

mordantmaxim
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Yay!

Postby mordantmaxim » Wed Feb 02, 2011 9:25 pm

Had a message on my machine when I got home, thank you for all of your help!

CCG
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Postby CCG » Wed Feb 02, 2011 9:34 pm

mordantmaxim,

Congratulations on getting approved! It does not surprise me the least bit as I have received numerous emails from those with less credit history than you being approved, which I discuss in my Zync American Express review.

Again, congratulations and enjoy the card!

-CreditCardGuru

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Elliot Castro
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Postby Elliot Castro » Thu Feb 03, 2011 11:28 am

I did not know there were only three of them.


1. Computer Error (could include other errors)
2. Applicant LYING
3. Applicant having an UNREASONABLE amount of outstanding debt (this value is debatable)

Actually, I think there were 4 now, IIRC an applicant who has had a history of illegal activity can also be denied, especially when having a history of fraud. But to my knowledge, at least in North America they are not allowed to do background checks on criminal reccords, at least not without your permission.



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