Freedom to Zync to True Earnings... For beginners

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5 posts
Aj123
 
Posts: 1
Joined: Tue Jul 19, 2011 6:20 pm
Location: sf bay

Freedom to Zync to True Earnings... For beginners

Postby Aj123 » Sun Jul 31, 2011 11:53 pm

I started off with no credit card and decided to take a plunge and find the best suitable CC for me about a year ago ( Mid 20's about 60k income)

First went to my direct bank that i have had for years and obtained Chase Freedom card ... with about a limit of 1K. Around the same time i applied for the TE bc i thought i would be approved... WRONG... obviously .. well... finally did some research and found this website and was enlightened!

So what i did was wait 6 month from my first CC and applied for Zync Amex card bc i do a lot of shopping at costco (gas groceries... cheap pizza... bulk alcohol ... you get my drift)

So fast forward another 6 months ( paying all CC in full every month for about a year) ... Freedom card is at 2K limit... Zync spending was about at 1K avg. a month paid in full... finally decided to apply to TE

Applied and a few days later was approved :cool: with a 7K spending limit :money:

So in conclusion...

1) patience
2) Pay on time
3) Read on what CC is best for you...
4) this website has been a such a great help couldnt have done it with out it

Questions:

Not sure what I should do with my Zync card ... keep it/cancel it after a year ? i use the packs but not sure if it would worth keeping it after my 1 year is up ... any suggestions? I dont travel thatttt much 3-4 x a year ... thanks for reading... hope it helps someone as confused i was about the whole CC thing.


Meltdownblitz
Centurion Member
Centurion Member
 
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Joined: Fri Jun 03, 2011 11:42 pm
Location: United States

Postby Meltdownblitz » Mon Aug 01, 2011 1:45 am

Thanks for that, I'm sure it will be a big help for some. As far as your Zync goes.. depends on how you like it.. maybe upgrade to platinum or something? I'm sure you should be able to. btw Congrats on your TE card, I want one of those in the future as well. Although I just got my Zync a few months ago so I want to wait at least 6 months to a year before apping for any other Amex cards.

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Mogul of Pineapples
Centurion Member
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Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Wed Aug 03, 2011 12:15 am

Great tips Aj123, welcome to the forum and looking forward to hearing more from you!

Not sure what I should do with my Zync card ... keep it/cancel it after a year ?


Personally if I were you, I would keep it given that the annual fee is only $25 since you have had it open a while and want to work on bringing the average age of your accounts up. If it were the Gold or Platinum I would say the fees would probably outweigh for your circumstances, but being that this card only runs you $25 per year, you should probably keep it until your credit record is stronger.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Wed Aug 03, 2011 8:32 pm

Aj123 wrote:I started off with no credit card and decided to take a plunge and find the best suitable CC for me about a year ago ( Mid 20's about 60k income)

First went to my direct bank that i have had for years and obtained Chase Freedom card ... with about a limit of 1K. Around the same time i applied for the TE bc i thought i would be approved... WRONG... obviously .. well... finally did some research and found this website and was enlightened!

So what i did was wait 6 month from my first CC and applied for Zync Amex card bc i do a lot of shopping at costco (gas groceries... cheap pizza... bulk alcohol ... you get my drift)

So fast forward another 6 months ( paying all CC in full every month for about a year) ... Freedom card is at 2K limit... Zync spending was about at 1K avg. a month paid in full... finally decided to apply to TE

Applied and a few days later was approved :cool: with a 7K spending limit :money:

So in conclusion...

1) patience
2) Pay on time
3) Read on what CC is best for you...
4) this website has been a such a great help couldnt have done it with out it

Questions:

Not sure what I should do with my Zync card ... keep it/cancel it after a year ? i use the packs but not sure if it would worth keeping it after my 1 year is up ... any suggestions? I dont travel thatttt much 3-4 x a year ... thanks for reading... hope it helps someone as confused i was about the whole CC thing.


If I were you I would cancel your aqua American express/costco card. your zync card looks like a very nice card. certainly give the better card of the 2 a year and then if it's not for you, you can then cancel. but get rid of that joke of a card. aqua american express/costco.

CC Deville
Centurion Member
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Posts: 1075
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Mon Aug 08, 2011 7:47 pm

Congrats. The Costco True Earnings is a great card. I agree with the others; keep the Zync as eventually it will help with AAoA and only carries a $25 fee.



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