Have Zync, What Next?

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Have Zync, What Next?

Postby Gmen0844 » Fri Feb 22, 2013 9:01 pm

Hey guys,

Not sure if I am posting this in the correct place please let me know.

Been lurking around here for a while figured it was time to make a account and ask for some help. I am a 22 year's old and Right now I have 3 Credit cards and am trying to figure out what is best for me when it comes to rewards as well as which cards to have.

My cards

1) First card which I have had the longest is a Discover card. Not sure exactly which discover it is but all I get from it is cashback bonus which really equates to very little. I have always made sure to keep a very low balance on this card and am always paying it off.. I have a 1500$ limit on this card and really have no use for it.

2) Second card which I got about two years ago is a Chase slate card, I also dont see this card very useful. Similar to my discover I make sure to keep a low balance on it and am always paying it off. 2000$ limit on this card.

3) My most recent card. Amex Zync this is the card I use the most for pretty much all of my purchases, Gas, Flights, Food.. Etc. Of course always paying it off in full, but now that Amex has removed this card trying to figure out if it pays to keep using it, Are my points I accumulated using this card pointless now.

Any Help is appreciated.

Thank You.

Credit is about 720, Figured I am getting hurt from not having a long history with credit cards.

CC Deville
Centurion Member
Centurion Member
Posts: 1077
Joined: Thu Aug 04, 2011 7:07 pm
Location: Phoenix

Postby CC Deville » Sat Feb 23, 2013 12:23 pm

1) If you don't mind a cheesy card name and the account number in the back of the card, call Discover to have your current Discover changed to a Discover IT card. You will earn at least 1% cash back on all purchases plus the 5% bonus. Discover is a great card and since it is your oldest, I recommend keeping it and utilizing it a few times a year to keep it active.

2) Chase Slate is rather a boring card and it's only use is for balance transfers. I would recommend emailing them or calling them to see if they will product change your Slate to a Freedom. The Freedom opperates much like the Discover IT card (see above).

3) Even though ZYNC has been discontinued for new applicants, there are no current plans to discontinue the card at this time for existing cardmembers. You will still earn normal Membership Rewards Express Points (but yes, the Packs are gone). In the future, you could always apply for a new AMEX charge card, such as the Premier Rewards Gold (PRG). The PRG card earns regular Membership Rewards (MR) points (not Express) and these are seen are more valuable. Your Membership Rewards Express (MRE) points will automatically convert to the MR points once you establish a new Green, Gold or PRG card and Membership First Points if you go with Platinum. Since MRE/MR points don't expire, you can let your ZYNC and MRE points hang out for a while until you are ready to get a higher level card. The other benefit of your ZYNC (and overall relationship with AMEX) is that you established your Member Since year (I assume 2011 or 2012). So when you do eventually apply for another AMEX (from AMEX themselves-not BofA, Citi, PenFed etc) your new card will report as opened during your original Member Since year. Since the annual fee is waived for the first year on most of AMEX's charge cards, you could open the PRG just long enough to convert your MRE to MR points, get any sign up bonus points and use them for something. Then, once the annual fee hits you could close the account and get one of AMEX's revolving cards like Blue Cash Everday.

You don't really want to go out applying for a ton of new cards. You need to evaluate what kind of rewards are most valuable for you (cash back, airline miles or flexible point cards). Once you have determined what kind of rewards will benefit you the most, you can apply for that card. I do recommend product changing your Discover and Chase cards. If you are a frequent fraveler, you may want to go for a Chase Sapphire Preferred with a sign up bonus that will compliment your (converted) Chase Freedom card.

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