Got approved for card on first try!

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3 posts
FirstAmEx
Green Member
Green Member
 
Posts: 4
Joined: Tue Feb 07, 2012 9:56 am
Location: Dallas, TX

Got approved for card on first try!

Postby FirstAmEx » Mon Feb 13, 2012 10:11 pm

Hello All,

I am a 21 year old student, and I finally decided it was time for me to get a credit/charge card. I've been using my debit card all this time. I have never even applied for a card up to this point. The only credit history I have the 14k in student loans I have which I have yet to start paying on. Anyway I decided to apply the Zync card, the first card I have ever applied for, and I was instantly approved!

I have read that you can't upgrade the Zync, so how will I go about moving up to green in the next couple years? Also I have read that some cards have a soft limit, how do I find this number out?

Thanks!


Moneytalks
Centurion Member
Centurion Member
 
Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Tue Feb 14, 2012 1:21 pm

I'm kind of on the same boat as you, so here's what I did:

Get a store credit card (Macy's etc. wherever you shop..) Gas card or any other VERY BASIC card and use it. WARNING: do not charge more than you can afford, otherwise you will fall into debt and pay very high interest!!! This is supposed to be common sense, however, a lot of people ignore this very important note.

Moving on... then, make your payments on time, etc. but do not spend more than 30-35% of your available credit. For example, if your card limit is $1000, don't charge more than 300, its the same as if a stranger asked you for money and you told him/her the most you can give is $100, would you feel comfortable giving $10, or $95... same concept. Money can be risky :)

After you build credit with your "Training wheels card" then apply for an Amex Green, since you can't upgrade from the Zync, though if the Zync is more of your cup of tea, then stick with it.

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

CC Deville
Centurion Member
Centurion Member
 
Posts: 1067
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Tue Feb 14, 2012 4:50 pm

Currently Zync cannot be upgraded at the cardholder's request, but it would be counterproductive for Amex not to upgrade these cards. At any rate though, because Amex backdates, any subsequent account that you open will be back dated to 2012 so it really doesn't matter. For the cost of an inquiry, you can get a Green or Gold etc.

You did a smart thing by joining at a young age. Congrats on your approval.



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