American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
12 posts
murphycr
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Denied for Amex Zync

Postby murphycr » Sun Mar 13, 2011 3:44 pm

So recently I was denied for an AMEX Zync card after 'not being able to receive an immediate decision'. I have a credit score of 721, no delinquent accounts, no public records, and currently have a $500 line of credit with my local credit union and $750 with Discover. I am a student and have about a year and a half of credit history. I also have about a %14 utilization on my open lines of credit and pay them off every month. AMEX has been absolutely useless as to why I have not been approved, as having applied before, the reasons given for my denial (too little paid on accounts) is nothing I can do anything about. Any suggestions or wisdom that you all can offer me?

Thanks,
Robert


DoingHomework
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Postby DoingHomework » Mon Mar 14, 2011 12:39 pm

murphycr wrote:So recently I was denied for an AMEX Zync card after 'not being able to receive an immediate decision'. I have a credit score of 721, no delinquent accounts, no public records, and currently have a $500 line of credit with my local credit union and $750 with Discover. I am a student and have about a year and a half of credit history. I also have about a %14 utilization on my open lines of credit and pay them off every month. AMEX has been absolutely useless as to why I have not been approved, as having applied before, the reasons given for my denial (too little paid on accounts) is nothing I can do anything about. Any suggestions or wisdom that you all can offer me?

Thanks,
Robert


Use your credit responsibly for a few years and you will have no problem. They are looking at your maximum balance. Since it is low they probably do not see you as being a profitable risk. If they give you a card they are taking a risk. If you never charge very much then they never make much money.

murphycr
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Postby murphycr » Mon Mar 14, 2011 12:45 pm

Thanks for the advice DoingHomework. I was actually just on the line with New Accounts and the rep seemed to indicate that the main issue was a low credit score... He did however send the account over for manual review and indicated that he felt I would get a "better decision" from them once this had occured.

Acquitted
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Postby Acquitted » Wed Mar 16, 2011 1:11 pm

I think DoingHomework is correct and it's because your maximum balance is low. I was approved for the Gold card about 6 months ago and my score is a 680. I also have a mastercard that has a low limit (but I almost never use it). I suspect Amex figured I was always using my debit card for everything (which I was) and approved me (to make money). My credit history for the passed 4 years has been very good though (before that was awful).

Good luck with manual review. I hear many people get the card after manual reviews so best of luck!

Deighton
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AMEX Zync application denied

Postby Deighton » Sun Dec 18, 2011 1:09 am

Well I just applied for the AMEX Zync Card and got denied. SMH. I have been trying to apply for an AMEX card for a couple years now. I know I have a high credit to debt ratio. I know I have to lower them down. But I need a AMEX card. Its a great look to have. Its like being on a different level. I believe if you are able to get one, you should go for it. But I need help. SOMEONE HELP ME PLEASE!!!!!

PS. I just got approved for a car loan. It was a lease. I figured that might help.

DoingHomework
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Postby DoingHomework » Mon Dec 19, 2011 4:42 pm

murphycr wrote:AMEX has been absolutely useless as to why I have not been approved, as having applied before, the reasons given for my denial (too little paid on accounts) is nothing I can do anything about. Any suggestions or wisdom that you all can offer me?


How's this for wisdom: Be patient and get more "paid on accounts." Amex is not being useless. They are telling you the reason. You just don't like the reason.

SenorWookie
 
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Postby SenorWookie » Sun Feb 12, 2012 2:04 am

DoingHomework wrote:Use your credit responsibly for a few years and you will have no problem. They are looking at your maximum balance. Since it is low they probably do not see you as being a profitable risk. If they give you a card they are taking a risk. If you never charge very much then they never make much money.


Hello, I hope I don't come across as challenging your contribution because I am such a noob to credit, but I am reading everywhere that minimal utilization is king and 0 balance at the due date is paramount towards building credit.

I would like to acquire a Zync ASAP so I am curious about what you mean by maximum balance. If I am understanding correctly, you are saying that AmEx is looking for a high balance (utilization?) at some point (maybe not carried month-to-month). Color me confused but I am really interested in any wisdom you can bestow.

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Wed Feb 15, 2012 5:10 pm

murphycr wrote:I am a student and have about a year and a half of credit history. Thanks,
Robert


Robert, based on the things you have told me about your credit profile it does not sound like you have established credit for a lengthy amount of time. American Express also looks at the age of each account, and what types of accounts you have. They have an internal scoring model that considers credit score but is not the only basis. I would suggest you get a Visa or MasterCard and show you are responsible for at least two years and then apply again. Credit and good credit are all about time. Give it enough time and anyone can have good credit.
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

Lifelock member, USAA credit monitoring, Security Freezes E/E/TU, 800+

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PlatinumAMEX94
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Postby PlatinumAMEX94 » Sun Feb 26, 2012 2:54 am

Deighton wrote:Well I just applied for the AMEX Zync Card and got denied. SMH. I have been trying to apply for an AMEX card for a couple years now. I know I have a high credit to debt ratio.


You need to tell us what the reason that AmEx stated. Just saying you got denied doesn't provide any insight as to why. Do you have 50 credit inquiries? Derogatory marks? What is your credit score and what cards do you have now?
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

Lifelock member, USAA credit monitoring, Security Freezes E/E/TU, 800+

irvine801
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Postby irvine801 » Sun Feb 26, 2012 11:19 am

I got approved at a 626 fico and 48 % util.. idk how now that I think about it. But I've been working with credit for 4 years but only a year in a half with cards. Hmmm...
-American Express Zync.
-Discover IT. 4.5k limit 7.99%
-MC Citi diamond preferred. 1500 limit
-Visa Chase freedom. 2k limit.(23.24%, NOT IN USE)
-Miles by discover 1.5k limit.7.99%
-Best buy store card. 1500 limit
-Mt. America visa 1k limit



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