Should I start with Zync?

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mikemike9203
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Location: Atlanta, GA

Should I start with Zync?

Postby mikemike9203 » Thu Aug 09, 2012 1:51 am

Hello everyone,

I'm new, just joined the forums today; I've been reading a lot of posts and they have been very informative. I am 19 and one of the few teens (that I know) that is cognizant of the importance of building credit early...

I have a Capital One Journey (Student) Card and my limit was just increased to $500 (got it back in Feb. but didn't use it much early on because my limit was so low), and I was planning to apply for another credit card to increase my credit line. Eventually I would like to step into the charge card arena since I pay my balances in full anyway; based on what I've stated, what else would I need to do in order to prep myself to get a charge card from Amex? I've seen people say that getting the Zync is easiest, so I just might start there.

P.S.: On the topic of applying for my next credit card, any suggestions? Thank you. :)
BarclayCard -- $900
Capital One Journey Card -- $500

It is not length of life, but depth of life.
Ralph Waldo Emerson


Money card
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Location: New York state

Postby Money card » Thu Aug 09, 2012 11:02 pm

are you still in college or did you graduate? If your still in college I would contiue to use your Journey card.

but if your out of school, I would suggest 2 lower level cards like TDBank, citizens bank, M&T or even a local bank
from your area.

once you have these 2 cards then you can think about a higher level card like a capital1, citibank, chase , Bank of america or a wells fargo once you have 1 of these then a Discover card, use the cards a lot but pay your bill in full.

then you can apply for a premium American express card.

to sum it up
2 lower level bank cards
1 higher level bank card
1 Discover card.

good income.

mikemike9203
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Location: Atlanta, GA

Postby mikemike9203 » Thu Aug 09, 2012 11:24 pm

I am still in college, rising junior. I have a job at school every year and the pay is within the means of my Journey limit so I guess it would be good just to stay with that for now...

Also, one of my friends listed the amount of money his scholarships were worth when he applied for a Discover Student card and got approved with a nice limit. Is that conventional, to list scholarship money as income? If so, my income is higher than I would have expected :cool:
BarclayCard -- $900

Capital One Journey Card -- $500



It is not length of life, but depth of life.

Ralph Waldo Emerson

Rory
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Location: MA

Postby Rory » Fri Aug 10, 2012 4:45 am

im 20 and had about 6 months with my bank of america student platinum plus card before i applied for the Zync. i got instant approval and have spending capped at around $5000 with my current spending habits. i just recently got a chase freedom too but they pulled plus score for some reason and i got a strict CL. Regardless of your situation as long as you have good payment record and enough common sense and savings to support your purchases then shoot for an amex. the zync is a cool card, especially with the express pay chip so i would definitely try for it.

just never miss a payment and treat every transaction as paying cash so you dont overstep your bounds and end up in the red. Amex is definitely worth your consideration, either them or chase, all others offer specific rewards that only benefit specialized individuals and those with much more in depth credit files than yours.

So try for zync and good luck, let us know how it turns out
Amex Zync - NPSL (Cleared up to 25k)
Amex BCE - 12000 limit
Amex BCP - 4200 limit
FIA Rewards Amex- 3500 limit
Chase Freedom - 2000 limit
Chase Slate - 2000 Limit
BoA Cash Rewards Privileges- 3000 limit
Barclaycard Rewards MC - 3000 limit
Discover IT- 3500 limit
Marriott PR- 5000 limit
21 years old with alot of life to spend ;)
Its not about the ending, its about the journey,
just as long as the ending is just as good :cool:

SignHere
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Location: PA, USA

Postby SignHere » Fri Aug 10, 2012 7:51 am

Mike,
The Zync is a fairly easy card to acquire, assuming you have some kind of credit history, decent credit score (mine was slightly below 700 when I app'd), and income. I did not get approved instantly, I had to call AMEX and verify having an established bank account (which also inadvertantly caused the first identity theft situation I had to deal with but that is another story). The Zync was my first CC I obtained before any other credit card. After 2 years of good standing with AMEX, I upgraded to the PRG. In about another year or so I will apply for a BCE.
Amex PR Gold - NPSL (Daily) [8/2012]
Amex Zync - NPSL (Ex-Daily) [10/2010]
Amex BCE - 19.2k [8/2012]
Chase Freedom Visa - 5k [8/2012]
PSECU Visa/PSL - 20k [9/2012]

mikemike9203
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Location: Atlanta, GA

Postby mikemike9203 » Fri Aug 10, 2012 10:44 am

Cool, thank you all. I have decided to wait a month or two more before I apply so I can get a sense of my pay during the school year. One question I asked on another post (that I can't find) was regarding scholarships and income; would the scholarships I get for school be listed as income when inputting projected income on the Amex application?
BarclayCard -- $900

Capital One Journey Card -- $500



It is not length of life, but depth of life.

Ralph Waldo Emerson

SignHere
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Posts: 46
Joined: Tue Aug 07, 2012 8:42 am
Location: PA, USA

Postby SignHere » Fri Aug 10, 2012 5:19 pm

Scholarships are considered a portion of projected income.
Amex PR Gold - NPSL (Daily) [8/2012]

Amex Zync - NPSL (Ex-Daily) [10/2010]

Amex BCE - 19.2k [8/2012]

Chase Freedom Visa - 5k [8/2012]

PSECU Visa/PSL - 20k [9/2012]

mikemike9203
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Posts: 7
Joined: Thu Aug 09, 2012 1:35 am
Location: Atlanta, GA

Postby mikemike9203 » Fri Aug 10, 2012 5:59 pm

Bueno! In that case, I will have a decent projected income, enough to more than likely get the Zync.
BarclayCard -- $900

Capital One Journey Card -- $500



It is not length of life, but depth of life.

Ralph Waldo Emerson

DavidNY
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Location: New York

Postby DavidNY » Fri Aug 10, 2012 9:16 pm

mikemike9203 wrote:On the topic of applying for my next credit card, any suggestions? Thank you. :)


Priceline Visa. 2% cash back everywhere and better acceptance than Amex.

Crashem
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Location: San Francisco, CA

Postby Crashem » Sat Aug 11, 2012 3:39 am

Getting in with AMEX early is great. First, backdating is awesome for later in life to help maintain or grow your AAoA (Average Age of Accounts). 2nd, AMEX revolvers can be tuff to get without history with AMEX (ie via charge cards). Why are AMEX revolvers so great? When you are early in your credit history, building up your CLs is one of the key goals. AMEX's CLI policy is one of the most (if not the most) consumer friendly around. 3X CLIs via SP with the first coming in 61 days and then every 6 months after than.
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



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