Zync's not available anymore... What now?

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smills228
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Zync's not available anymore... What now?

Postby smills228 » Wed Nov 07, 2012 11:58 pm

Hey there--

I'm a college student working on giving my credit a good start. Right now, I have a Credit Karma score of 729. My two cards are a Discover More card with $750 CL and a Capital One Journey card with $500 CL, both with 0% utilization. Both credit cards are just over a year old. I also have utilities in my name, though I'm not sure if they report--Credit Karma doesn't show them, and I opened the accounts after I used up my free credit report for the year. I was waiting for a CLI on my Discover card which went through this month (before that, it was $500), and then I was going to apply for the Zync card because I wanted to start building history with AmEx and its annual fee is (was) so low.

Now that they discontinued the Zync card, I'm wondering if it's worth the $95 annual fee for a Green card, or if they'll even accept me? I also have looked at the Blue Cash card, though I hear that it's much easier to start with a charge card than a credit card for American Express.

In terms of reward value, I only charge a pretty modest amount to my cards each month (about $900-1,000), so I don't know if it's worth it to jump on the American Express bandwagon now, or if I should just wait until I have more things to charge on it and can take better advantage of the rewards points.

Thanks!
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DavidNY
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Postby DavidNY » Thu Nov 08, 2012 2:11 pm

If you really want an Amex card, I'd suggest getting one without an annual fee, like BCE.

smills228
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Postby smills228 » Thu Nov 08, 2012 2:22 pm

I like the American Express credit card options, but I've heard they're stricter in terms of who gets credit cards. Has anyone with a credit history as young as mine and with limits as low as mine been approved for BCE?
American Express Premier Rewards Gold
American Express Business Gold Employee Card (Authorized User)
American Express Gold Delta Skymiles
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Chase Amazon Visa
Citi Simplicity
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CC Deville
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Postby CC Deville » Thu Nov 08, 2012 3:45 pm

If you feel that your credit is worthy (Credit Karma is not your real score; only a true FICO score is your real score) then you should take DavidNY's advice to go for an Amex revolver like Blue Cash Everyday, Clear etc.

If you feel that you would not be approved for one of their revolvers (which are considered harder to obtain) then you could certainly apply for Green. The annual fee is waived for the first year. After the first year you may feel that your credit has improved and could then apply for a revolver Amex. The new Amex will be backdated to 2012 (assuming you open a Green this year). I will not go into backdating as it has been discussed ad nauseam at every credit board on the Net.

Amex does have a pre-approval function on their site. Give it a shot, it only costs a soft inquiry (hard if you decide to apply). Of course, the pre-approval is not a guarantee of credit.

smills228
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Posts: 16
Joined: Wed Nov 07, 2012 11:43 pm
Location: Los Angeles

Postby smills228 » Tue Dec 11, 2012 7:50 pm

Quick update: after more research, it looked like a good option for me would be to get the Gold Delta Skymiles card and take advantage of the 30,000 bonus miles/free checked bag this year, then move to the no-annual-fee BCE. I applied, and was approved with a $2k credit limit--fair enough for only a little more than a year of credit history. Thanks!
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American Express Business Gold Employee Card (Authorized User)
American Express Gold Delta Skymiles
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Chase Amazon Visa
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