So wait, what?

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t528491
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Postby t528491 » Fri Oct 12, 2012 1:10 pm

I think you should recon.
I got the Amex Zync, and I'm only 18 with about a 10k income. American Express actually didn't even ask me for proof of income; they approved me right away.
[size=80]
02/12 Authorized user on Chase Freedom ($5000)
08/12 Discover It ($1500)
08/12 American Express Zync (NPSL)
12/12 NFL Visa ($500)[/size]

[size=60]Future cards:
Citi Forward for Students 6/13
American Express Blue Cash Everyday 1/14
Sallie Mae World Mastercard 2014
Chase Freedom 2014
Penfed Platinum Rewards Card 2015[/size]


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Snowman
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Postby Snowman » Fri Oct 12, 2012 2:04 pm

T-You applied for a Zync, and I applied for a Green. If I would have applied for the Zync, I'm pretty sure they would have approved me, but it was a little bit higher level charge card (green). I'll try reconning them and see if they allow me to be approved. If not, I'll end up waiting for a year or two and try again. But Yeah, I will give it another go and see if it works. And they didn't?how long was your history when you applied?
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
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t528491
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Postby t528491 » Fri Oct 12, 2012 2:08 pm

IIRC, the Green shouldn't be much harder to get than the Zync. I could be wrong though.
And I think I had 6 1/2 months of history when I got it. Now that I think about it, I may have gotten the pending message online, but once I called in, they approved me right then.
[size=80]

02/12 Authorized user on Chase Freedom ($5000)

08/12 Discover It ($1500)

08/12 American Express Zync (NPSL)

12/12 NFL Visa ($500)[/size]



[size=60]Future cards:

Citi Forward for Students 6/13

American Express Blue Cash Everyday 1/14

Sallie Mae World Mastercard 2014

Chase Freedom 2014

Penfed Platinum Rewards Card 2015[/size]

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Snowman
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Postby Snowman » Fri Oct 12, 2012 2:42 pm

Alright I'll call when I get home, I have some errands to run, but I also applied with a little bit over 5 months of history.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

0_to_60
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Postby 0_to_60 » Fri Oct 12, 2012 7:11 pm

I thought Zync came to a stop for new applicants and/or does not exist anymore for new comers?

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Snowman
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Postby Snowman » Fri Oct 12, 2012 7:45 pm

0- They just recently discontinued it from the 1st onwards. And that's for people that were going to apply this month or soon after.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

JohnB222
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Postby JohnB222 » Sat Oct 13, 2012 7:32 pm

Snowman wrote:John- I understand, but then why did BOFA not deny me? I mean I had an even smaller income last year (using gross from last year, which was 4,200), and yet the still approved me. I have seen other people my age that have like 9-10k income and they get approved for the Zync, and other various cards, so why were they not denied either? And I know you're not being harsh, I can understand where you're coming from when you say that. But also, I'm surprised that they denied me on my age. I was thinking it was going to be my income or it was going to be because my history was short.

CC-Oh I know. There is no such thing as responsibility anymore in this country, it's amazing to see how much our great country has been in trouble and decline over the last decade. I'm not totally dependent, any of my bills (food, gas, phone, books for school, tuition for school, and other various things I've paid myself.) Everything else, my parents pay the bills for my house....

I certainly can't answer why you were approved for a BOFA card (maybe they are in violation of law) or why someone else on here is 18 and got approved for a Zync, I can only say their "reason for denial" is accurate.

Credit CARD Act of 2009 - Wikipedia, the free encyclopedia

Limits credit cards to teens

A credit card cannot be issued to someone under age 21, unless they have a co-signer (who is 21 or over), or can provide proof of a means to repay.
[font=Arial][CENTER]Amex Blue Cash Everyday - 22k CL | Chase Hyatt - 15k CL

PenFed Platinum Rewards - 12k CL | Chase Sapphire Preferred - 8k CL | Chase Freedom - 5k CL[/CENTER][/font]

432521
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Postby 432521 » Sat Oct 13, 2012 7:41 pm

JohnB222, thats not always true because I am 20 and all the credit cards that I have obtained have been done so without a cosigner. And I don't think that all four different financial institutions would have broken the law for me.
March 2011- Wellsfargo Cash Back College Card
May 2012- Chase Freedom
May 2012- Discover IT
August 2012- American Express Blue Cash Everyday

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Snowman
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Postby Snowman » Sun Oct 14, 2012 7:48 pm

John- The only 2 reasons why I think I got my current card was because I had been banking with BOFA for 2 year prior to me applying for one of their cards (initially I was declined, but my personal banker had managed to talk to one of the CSR's and they told me "congrats you have been approved" for a 700 limit. But my income was smaller...so idk.) I think another reason was because I hardly use my cards (Only for Gas) so I don't spend much either, and never get close to my limit either and also I had plenty of money in the bank and therefore the means to repay any debt that I've incurred. I know the risk of having a credit card and using it wisely and only when you need to, not live of off.

432521- I agree, I mean someone else is bound to accept me, with the income I have, it may not be a lot, but I do my best to be responsible and I was hoping to become a card-member with them, but I guess they don't want to accept me right now. I'll recon them on Tuesday (my Internet's out, and I'm posting through my friends house right now.) and see if they change their minds. If not, then it was worth a shot anyway.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

CC Deville
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Postby CC Deville » Sun Oct 14, 2012 8:37 pm

432521 wrote:JohnB222, thats not always true because I am 20 and all the credit cards that I have obtained have been done so without a cosigner. And I don't think that all four different financial institutions would have broken the law for me.


Because your income was likely deemed sufficient to be self sustaining. The law doesnt state that all under 21 HAVE to have a co-signer. But if under 21 you have to have sufficient income to be considered independant.



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