Posted by William Charles on January 17, 2020
Credit Cards

Published on January 17th, 2020 | by William Charles

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American Express Zync Cards To All Be Closed On 3/30

Back in 2010 American Express launched the American Express Zync card, the card has not been available for new sign ups for some time. American Express has sent out letters to existing cardholders with a preset spending limit informing them that these cards will be closed on 3/30, this is frustrating for some as this is their oldest card (a factor in determining your FICO score). Normally when a card issuer closes cards like this they are product changed into a different card and cardholders keep their account history but for some reason American Express doesn’t seem to be doing that in this case.

The Zync card did come with a distinctive design (pictured below) and I’ve seen some speculation that American Express might use this design for the new card in between Platinum & Centurion (code name ‘Optio’). At this stage that is nothing more than speculation but I think it could work.



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Eric
Eric

Damn it, I have a Clear card l, which’s my oldest card, and I think they may do the same

CongestionCharge
CongestionCharge

Same!

Raj
Raj

I’ve asked a couple of times if they will PC the Clear card, but was refused

sdsearch
sdsearch

The Clear card apparently had no fees of any kind, and it’s probably too hard (if not legally impossible) for Amex to come up with a disclaimer notice that they can read to you about all the other fees which every other card has which you would be subject to if you product convert. You legally you can’t product convert unless you legally accept the differences in terms of the card you’re converting to relative to the card you’re converting from.

Joseph
Joseph

Closed cards and accounts still stay on your credit history for 10 years. Of course you won’t get the 10 years of on time payments but you will keep the history. You can also close it yourself on 3/29/2020 so it reflects that the account was closed by consumer instead of closed by credit grantor.

Nick
Nick

Closed accounts can stay on your report for UP TO 10 years, maybe less depending on many factors.

Dubya
Dubya

I have never seen a closed account leave my report in less than 10 years and have seen many stay for over 20. Companies to not have to remove the reporting and many don’t because it is batch reported. I have and accounts that closed 17 and 18 years ago still on my report

Nick
Nick

That’s all wonderful but people need facts, not what may or may not happen. Some people have accounts deleted after 3-5 years, some last for decades. The official information is up to 10 years, so my goal was to provide this insight. Many people think 10 years is set in stone and are upset when they see things vanish. Inquiries are 24 months but I have seen some fall off sooner. Negatives can last seven years but even that can be much shorter. The anecdotal experiences of some doesn’t change the official timelines and people should always be aware of them.

Enrico
Enrico

depends on how you define facts. does fact mean true? doesnt what anyone says makes it a fact?
If you are all knowing, enlighten us. What are the facts?
What are the conditions that closed accounts fall of sooner than 10years?

Nick
Nick

Fact: a thing that is known or proved to be true.

Closed accounts paid as agreed.
If the last status of the account is reported by the lender as paid as agreed, the account can stay on your Equifax credit report for up to 10 years from the date it was reported by the lender to Equifax.

All the others say the same information, so I won’t bother reporting it. I never said I was all knowing, my comments were very narrowly tailored and suited to this discussion.

CardShark
CardShark

Agreed, it’s UP TO 10 years, or could even be longer… depends on the issuer that decides whether to report or not, and if you’re a heavy churner, your file will start to exceed file limits and the bureau may purge older records to fit within their scoring algorithms.

Dan
Dan

must have hired the same team that came up with Bonvoy…

Frank

Best looking card I’ve ever seen

Julius Rosen

Idiots all

Manta
Manta

I don’t get it. What’s so distinctive about the design of this card? Looks like the Platinum, Gold, Green to me.

Jags
Jags

It’s white like a unicorn!

Chimpo Chee
Chimpo Chee

The Planet has too many Credit Cards. Greta Thunberg will be thrilled….lol.

Greta
Greta

Who?

G
G

No PC options seem truly bizarre. Give those ownes a break, amex. C’mon!

DGS
DGS

I opened a Zync Card in January 2012 and I product changed it to a Gold Card about a year and a half later.

Kevin
Kevin

This was my first Amex card. I closed it at some point because I believe it had a $25 AF and no real benefits that I can recall, but I really wish I would have kept the card itself.

StreamingSaver

This was my first card and will definitely impact my score. Has anyone had success doing a product change?

DGS
DGS

Yes. I PCd my Zync to a PRG back in 2013.

Jake
Jake

Damn, this sucks, that 10x MR at grocery stores on the first $15,000 in purchases each month was so nice.

StreamingSaver

Are you sure you’re referring to Zync card?

Elias
Elias

Yep, and at postal offices and simons mall too

Cilia
Cilia

Its SIMON not SIMONS

Geo
Geo

Read carefully. They were referring to the Richard Simmons Malls discount

Elijah J Kimball
Elijah J Kimball

Wait. It was really that lucrative

Matt
Matt

Zync had “packs” you could add to the card for additional rewards. For an extra $5/month you could earn 10x on gyms for instance. You could pick and choose your benefits.

I don’t remember that one. Packs have been discontinued for like 5 years now.

Dubya
Dubya

Yes. Thats why they stopped issuing it years ago. I am surprised tell let people keep using it this long. We are getting ready for another credit crunch so banks are looking under every rock to cut cost,

Ryan
Ryan

I have looked online and nowhere have I seen 10x grocery stores listed as a benefit for Amex Zync.

Jason
Jason

If you want to keep the account couldn’t you preemptively PC it to something else?

Matt
Matt

Only real option is to PC to Green/Gold/Plat and pay a much higher annual fee. Sucks

sdsearch
sdsearch

The Zync is a charge card. Amex only lets you PC charge cards to other cards, not to any credit cards. The problem is that Amex no longer makes charge cards with this low ($25) an annual fee or anything close.

Mo K
Mo K

As far as I’m aware, Amex does not look at your specific cards, rather that you have any membership with them. For example, even though my first card that I opened with them was in 2014, and I’ve closed that one, they still write on all my cards member since 2014.
Should stand that they any and all accounts with them as one open line, which will not effect FICO when the oldest one closes

Kevin
Kevin

It was pretty widely reported roughly 2 years ago that Amex would no longer backdate new cards on credit reports. The “Member Since” on the card, and what is reported to credit bureaus, are totally unrelated now.

Justin
Justin

‘Optio’? 80’s flashback…. my utility statement shows “Amex optima” when I pay with Amex biz gold.

A
A

No letter received here..
I had no intention of closing it – it was my first amex in the US.
I have other amex products, but this was being kept – looks awesome in white.

SM
SM

Can you downgrade a Personal Gold into something else? My spouses Zync account has an offer to upgrade to a Gold, and if I can downgrade it in a year, I can keep it open (it shows 21 years right now.) But the offer is only 35-40k MR I think for the Gold. And we don’t really need a Gold, we just keep it open because the annual fee is low, and the fee ain’t nothing on a Gold…

Lightspeed
Lightspeed

It would be kind of cool if Amex made Optio into a grown-up version of Zync with pick-your-own 5x categories, kind of like how Zync Packs used to work.

A sort of “a la card,” if you will.

..I’ll show myself out. 🙂

Jerry
Jerry

Not sure how reliable this is but I contacted Amex and below is their response regarding my Zync account:


Hello, I heard that American Express will discontinue the Zync card and close current accounts. Is is true?
You – 10:10 AM
Pearl has joined the conversation
Hi, This is Pearl. Hope you are doing well.

Please allow me a few moments to review your above chat.
Pearl – 10:10 AM
I’ll certainly check the information and help.
Pearl – 10:11 AM
Thank you.
You – 10:11 AM
Thank you for your patience.
Pearl – 10:13 AM
I check the details and your Zync card will not have any changes.
Pearl – 10:14 AM
The changes are for different type of zync cards

Guillermo J
Guillermo J

I was able to product change a few years ago to a gold card I guess they decided to lose the window :/

Ben
Ben

Wow, this is very disappointing news. I was hoping this day would never come.

Zync is one of my oldest cards and my first Amex, it was very accessible back then with it’s $25 annual fee, it definitely paid for itself over the years. It really is one of my favorite cards.

Vj
Vj

Spoke with Amex.. Change is only for zync cards with fixed CL. mine is charge card so they said no change to it..

Dan
Dan

It looks like this article needs to be updated. From Amex themselves, it seems that only ZYNC cards with hard limits will be closed. ZYNC cards with a No Preset Spend Limit (NPSL) are remaining open. As always, this is not forever and any card program, anytime can be discontinued. I have a NPSL ZYNC and have not received any information regarding a closure. In fact, my January statement outlined that my $25 annual fee will be charged in February.

Alika
Alika

I, too, am a member of the AmEx White Card cult and have the charge version and accordingly haven’t received any notice of cancellation. (I thought all Zyncs were charge cards without preset credit limits!)

And FWIW, I’m also a legacy AmEx One cardholder. Interestingly, they recently replaced my One card with a new card that has the same exact design as the Zync! So it’s a One with the body of a Zync. Has this happened to anyone else?

CB
CB

Looks like active Zync Cards will remain. Thank goodness, my Zync will live on!

https://thepointsguy.com/news/amex-not-closing-all-zync-accounts/

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