Zync or Green, for student

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Zync or Green, for student

Postby m20e3087 » Fri Dec 23, 2011 9:41 am

My wants to get a charge card. She is a full time student, and work part time. She had BOA visa from 2007, balance $2400, limit $2500. Macy's card 2010, balance $300. Student loan around $6K. Her EQ score is between 620 to 650. So Zync or Green?
American Express: Blue Cash Everyday & Platinum

Visa Signature: BankAmericard Travel Rewards, Chase Freedom Unlimited, & Chase Sapphire

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Postby prady » Fri Dec 23, 2011 9:50 am

If his history is too new or not strong and considering the scores ur talking about i would say zync is a good place to start. He may get rejected for green.

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Postby sdoonan » Fri Dec 23, 2011 9:55 am

I would have her wait until she brings down the balance on that BOA card. That's maxed out (lenders view a card as maxed out if >90% of the CL is in use), and is bringing her score down big time.
Cards I Carry:

Visa: CitiForward Student (1k CL, 15.24%), Capital One Student Journey Rewards (.5k CL, 19.8%)
Discover: More Student (1k CL, 17.99% regular, current rate 1.9% through 3/6/12) (Primary card at this time)
AMEX: Blue Cash Everyday (2k CL, 21.25%)

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Postby Moneytalks » Thu Feb 09, 2012 6:00 pm

Same as above, I would wait and then go for the Green because then you can upgrade from there... and the Zync is good if you don't want a high annual fee, but the Zync cannot be upgraded. Hope that helps!

Good Luck!
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

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Postby ivotedale » Thu Feb 09, 2012 7:59 pm

Echoing everyone else- pay down the balances and go for the Green card.

Just from observation, I'd say American Express is a company a LOT of people certainly grow into, not just having another Visa/Mastercard distributor. By that, I mean it's neat to see older ladies/gentlemen with cards since '72 for example- they're in there for the long haul.

As for the Zync and its current terms, you will not be able to upgrade the card into its 'elders'. If your student isn't primarily concerned w/ rewards Amex offers, it wouldn't be the worst move to get a Zync, even just to have it for its protection/customer service benefits.

However, to fully get the best rewards use of the charge cards in my opinion, you would want to use your Membership Rewards points for transferring points to miles to get the most bang for your buck, which many agree (if she anticipates traveling). Other great ways are to use the Amex Shopping Mall to get 2x-10x pts for going through them.

If traveling/annual fees aren't elements she wants to go into, then I'd recommend elsewhere.

The Zync or the Clear card (credit card) are possible to get her foot in the door with those particular scores anyway.
Currently: American Express Blue Sky, American Express Zync, Chase Freedom Visa, Capital One Newcomers--->converted to Capital One Quicksilver Mastercard NO AF

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