Looking to upgrade/replace Zync card?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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stevo81989
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Looking to upgrade/replace Zync card?

Postby stevo81989 » Fri Mar 30, 2012 2:35 pm

Hey guys,

I currently have a zync card and I really really love the service. I personally believe that it saved me from going down the wrong path. I used to chase for all of my purchases but sometimes found myself not fully paying it off and spending the money that I should not have. I received a pre-approval for zync and realized that I must pay it off and it would still be treated as a credit card on my history. Long story short I have been with amex I'd say for about a year now, maybe longer and have never missed a payment and love their features. Though now I think its time to upgrade.

So I checked my credit score the other day and I am currently at 744. I'm 22 years old so not a ton of credit history but it should be enough. I'm thinking about a gold card. So here are the questions:

  • Do you think I should get the gold (i'm told i should just skip green)
  • Which one?
  • How much do I have to spend to get rewards that offset the fee? (Most of my purchases are at restaurants and supermarkets)
  • Do you think I would even be eligible for it?
Let me know if I need to be a little more verbose, I would really appreciate the help. Thanks!


stevo81989
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Postby stevo81989 » Fri Mar 30, 2012 3:34 pm

Also, I should mention that I do not fly on a regular basis. I also make between 30-50,000 a year

bmw1990Z
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same boat.

Postby bmw1990Z » Fri Mar 30, 2012 3:54 pm

how has the rewards system been for you with the zync? we are in the same boat financial wise but i wasn't sure whether i wanted zync, gold or delta gold (so i haven't applied for any yet) lol
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

stevo81989
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Postby stevo81989 » Fri Mar 30, 2012 4:40 pm

Hello,

Amex is a great choice! First off, about the card. If I had a chance to do it over again I wouldn't go with Zync. Not because its bad (Its actually better than most other credit cards from visa and MasterCard), but because of its restrictions. I don't believe you can simply upgrade to gold or whatever. I believe you actually have to get that as a separate card and then cancel the other.

Also, you have to pay for certain things to be give extra rewards. However, the good thing going for it is how easy it is to get. If you have a poor credit rating or if you have little credit history it would be a great beginner card if you don't qualify for the other card recommendations and then after a while you can switch. Now what card would I have gone with? Well after I visited the site the consensus is the Gold Delta SkyMiles Card (even if you don't fly). But if you don't qualify for that the Zync is a great choice! But don't take my word for it. One of the moderators here wrote a review and he breaks its pros and cons down great!

Amex Zync review

In regards to the rewards, amazing! I have Chase and I've never understood why people think they have the best rewards...it's good but not great. They have a great selection of DVD's and movies but that's about it. What Amex excels at is the fact that you can link it to Amazon.com and pay with points there!!! It was great for Christmas! Build them up and buy anything they sell. It's great!

stevo81989
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Postby stevo81989 » Fri Mar 30, 2012 5:28 pm

Ok, I think I'm down to 2 options:

- Gold (express - I doubt ill make back enough to take advantage of the $50 premium)-
- Blue Cash Preferred

Now I probably spend about 700-800 in gas a year and about that much in groceries a year as well. I do eat out a lot and buy plenty of merchandise online. Now the thing is, I love the prestige of the amex gold card. It makes me feel like I'm doing something right financially and I just feel good taking out my current zync card. But then im wondering if blue is better for me in terms of rewards. Anyways, im just curious if the $50 extra on the fees is worth it.

I do go to sporting events but the Amex tickets are expensive (usually). I make around 35,000 to 50,000 a year...just curious which one you think would fit me and which one would be better

Crashem
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Postby Crashem » Fri Mar 30, 2012 10:43 pm

Here is my advice:

Don't buy into the hype with specific cards with AMEX. zync/green/gold/plat/cent. Your credit line doesn't change with any of them. You can have a zync with 3x the limit of a cent. Just look at the rewards vs. annual fee and figure out what is right for you. I have the plat which is $450 a year. But I have already used the $200 airline credits so my fee is like $250. I use the benefits to make the $250 worth it to me. Just don't buy into the hype.

Personally, I would look at some of their credit cards. Just got the BCP and love it. If you aren't sure, just get the no annual fee versions of the card. Put them aside if you aren't sure you can handle the credit. With history and your score, you can get them I think np with all the backdating advantages. Ideally, maybe you can use their cash back cards to your optimal advantage. Costco card to get gas. BCP/BCE for department stores and getting your groceries. Costco to eat out. etc. Make your cards work for you.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Money card
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Postby Money card » Fri Mar 30, 2012 10:59 pm

First of all Stevo do you travel on business? You mentioned you live in Chicago, do you have trouble getting tickets to concerts or theatrical shows, the circus or the globetrotters. If you're finding that every time you want to see an event you're getting lousy tickets, then you might want to get the basic gold. For gold card events.

Since you mentioned that you mostly use your card for groceries and restaurants, I would recommend the green card just because you would save 30.00 per year.

If you want the gold for the first year because both cards are free that's fine, after that unless you use any of these perks I would get the green.

stevo81989
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Postby stevo81989 » Sat Mar 31, 2012 9:42 am

Well I decided to go for the amex blue preferred and got denied so it looks like 744 isnt good enough after all. Is it safe to assume I would be denied for the gold card as well?

Crashem
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Postby Crashem » Sat Mar 31, 2012 5:44 pm

stevo81989 wrote:Well I decided to go for the amex blue preferred and got denied so it looks like 744 isnt good enough after all. Is it safe to assume I would be denied for the gold card as well?


The credit standards for AMEX credit cards are higher than charge cards. You might be okay for gold card. Couple of things though:

1) Ask for an reconsideration on your Blue Card Denial. Can't hurt unless they pull another hard inquiry (make sure they dont)

2) You didn't mention how long you had your Zync for. Once you build a history with AMEX, they tend to approve people on the border

3) Are you sure the Zync is treated like any other credit card on your credit report? I have a Platinum and I know most modern FICO scores ignore charge cards when it comes to things like outstanding balance. It still helps you when it comes to stuff like AAoA.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Money card
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Postby Money card » Sun Apr 01, 2012 2:29 pm

stevo81989 wrote:Well I decided to go for the amex blue preferred and got denied so it looks like 744 isnt good enough after all. Is it safe to assume I would be denied for the gold card as well?


I would say the Gold is just as hard as the Blue Preferred Cash and here's why. Yes it's hard to pay for example on a Blue Cash card $ 900 @ 21.24% intrust, then the next bill for example 750 even if you payed 700 it would be 200 of your remaining balance, plus the next bill with the 21.24% interest.

With the Gold card if you charge 900 you owe nine hundred. who usually gets cards like these are business travelers who have excellent credit scores. I was on the phone with capitol1 and we were talking about the blue level travel venture card and she was telling me that it is for people who have excellent credit and most of them pay the bill in full. not everyone pays in full but most do. The intrest on that card is around 13.8% while the gold venture is around 17%.

Now I know Visa and Mastercard are different from American Express. But what I'm trying to say is your average maintenance worker who makes ten dollars an hour can get an Amex Blue Cash Preferred. But usually vice presidents, sales people as well as a clerical office workers can get the gold card. American express came up with there blue line and optima to give the average Joe one of their cards.

Both cards can be very difficult to get.



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