Thread: Denied for Amex Zync

So recently I was denied for an AMEX Zync card after 'not being able to receive an immediate decision'. I have a credit score of 721, no delinquent accounts, no public records, and currently have a $500 line of credit with my local credit union and $750 with Discover. I am a student and have about a year and a half of credit history. I also have about a %14 utilization on my open lines of credit and pay them off every month. AMEX has been absolutely useless as to why I have not been approved, as having applied before, the reasons given for my denial (too little paid on accounts) is nothing I can do anything about. Any suggestions or wisdom that you all can offer me?

Thanks,
Robert

Originally Posted by murphycr

So recently I was denied for an AMEX Zync card after 'not being able to receive an immediate decision'. I have a credit score of 721, no delinquent accounts, no public records, and currently have a $500 line of credit with my local credit union and $750 with Discover. I am a student and have about a year and a half of credit history. I also have about a %14 utilization on my open lines of credit and pay them off every month. AMEX has been absolutely useless as to why I have not been approved, as having applied before, the reasons given for my denial (too little paid on accounts) is nothing I can do anything about. Any suggestions or wisdom that you all can offer me?

Thanks,
Robert

Use your credit responsibly for a few years and you will have no problem. They are looking at your maximum balance. Since it is low they probably do not see you as being a profitable risk. If they give you a card they are taking a risk. If you never charge very much then they never make much money.

Thanks for the advice DoingHomework. I was actually just on the line with New Accounts and the rep seemed to indicate that the main issue was a low credit score... He did however send the account over for manual review and indicated that he felt I would get a "better decision" from them once this had occured.

I think DoingHomework is correct and it's because your maximum balance is low. I was approved for the Gold card about 6 months ago and my score is a 680. I also have a mastercard that has a low limit (but I almost never use it). I suspect Amex figured I was always using my debit card for everything (which I was) and approved me (to make money). My credit history for the passed 4 years has been very good though (before that was awful).

Good luck with manual review. I hear many people get the card after manual reviews so best of luck!

Well I just applied for the AMEX Zync Card and got denied. SMH. I have been trying to apply for an AMEX card for a couple years now. I know I have a high credit to debt ratio. I know I have to lower them down. But I need a AMEX card. Its a great look to have. Its like being on a different level. I believe if you are able to get one, you should go for it. But I need help. SOMEONE HELP ME PLEASE!!!!!

PS. I just got approved for a car loan. It was a lease. I figured that might help.

Originally Posted by murphycr

AMEX has been absolutely useless as to why I have not been approved, as having applied before, the reasons given for my denial (too little paid on accounts) is nothing I can do anything about. Any suggestions or wisdom that you all can offer me?

How's this for wisdom: Be patient and get more "paid on accounts." Amex is not being useless. They are telling you the reason. You just don't like the reason.

Originally Posted by DoingHomework

Use your credit responsibly for a few years and you will have no problem. They are looking at your maximum balance. Since it is low they probably do not see you as being a profitable risk. If they give you a card they are taking a risk. If you never charge very much then they never make much money.

Hello, I hope I don't come across as challenging your contribution because I am such a noob to credit, but I am reading everywhere that minimal utilization is king and 0 balance at the due date is paramount towards building credit.

I would like to acquire a Zync ASAP so I am curious about what you mean by maximum balance. If I am understanding correctly, you are saying that AmEx is looking for a high balance (utilization?) at some point (maybe not carried month-to-month). Color me confused but I am really interested in any wisdom you can bestow.