American Express launched a few months ago the Zync from American Express (SM) which pushes for a line of customizable credit card benefits for card holders.

Overview

The Zync from American Express (SM) is specifically designed for the hip young urban crowd who do not want to bring with them the AMEX of their parents.

The Zync credit card is like the usual American Express which requires payment of your due every end of the month and it does not have a pre-determined spending limit. This saves you the worry of paying for interest and going over your credit limit.

The marketing material used by American Express for the Zync credit card uses a language that can be understood by everyone, even by those who are not so familiar yet with personal finance. It also focuses on building a good credit history.

The rewards program of the credit card can also be customized to fit your need. It offers points for expenses in four different areas when individuals apply for the credit card.

How the Zync from American Express works

Zync allows CardMembers to select from 4 varying “packs” with each offering 2x the rewards for the different categories and giving you options on how you can spend the rewards you get. For every credit card, you will be able to get one point for each dollar you spend. You will also be able to take advantage of 3x the rewards points when you buy through 250 online partner retailers via the Bonus Points Mall.

The card comes with an annual fee of $25. The 3 of the 4 packs charges $20 each. The Eco credit card has no options and will allow card holder to get 2x the rewards points when you use it with participating green merchants.

Rewards

The Zync card offers different packs:

• Go Pack – This is ideal for those who travel a lot. The card will give you 2x the rewards points when you spend for airfare and it also comes along with a nice set of travel-related benefits.

• Social Pack – Earn double the regular rewards points when you use the card for events and when you dine out at your favorite restaurants. It also gives you special access to tickets for events even before the general public gets to know about them.

• Connect Pack – If you are the kind of spender who charges a lot for the internet, cell phone, or other communication related services then you will enjoy this Zync pack which gives 2x the rewards points for this kind of purchases. You can get mobile devices from mebershiprewards.com and you will be able to save 25% less of rewards points for your purchase. This means you can stretch your rewards points farther.

• Eco-Pack – This pack is meant for those who want to incorporate something green with their spending. This one has no annual fee, but it pushes for a lot of benefits. You can earn twice the rewards points for purchases you make with participating green merchants as selected by the Greenopia. You can also get 25% discounts on points you use when you buy eco-friendly stuff at membershiprewards.com/eco. You also get tips on how to live green via Greenopia’s Eco-concierge. American Express also buys a dollar’s worth of carbon offsets from the TerraPass for every Eco-Pack membership sold.

Benefits

Looking at the 4 different packs, the Go pack offers the most number of added benefits:

• Card holders will be signed up for the Credit Card Registry that gives assistance for Emergency Passport Replacement and reimburses up to $25,000 for fraudulent charges.

• You also get as much as 25% discount when you rent a car from Budget or Avis.

• Save as much as 20% on fees when you rent a vehicle from Hertz. This also comes with 2 days free use of a GPS when you rent the car for at least 3 days.

• When you reserve for AMEX Vacation packages through 2010 , you will be able to get $50 credit.

All of the four cards have these benefits:

• You get access to the online bills payment system, track spending via online graphs, and automatic payments.

• You can download you spending info to MS Money, MS Excel, or QuickBooks.

• When you purchase an item with a warranty of up to 5 years, you can extend the warranty of up to a year.

• When you are about 100 miles from your home, you will have access to their Global Assist Hotline.

Thumbs up features: You are able to select the categories where you can earn double the rewards points; benefits of having an AMEX credit card; online features to help you manage your finances; reputation of American Express.

Thumbs down features: The cards have an annual fee of $45 each except for the Eco Pack; Other credit cards may offer more generous rewards points system; no option for cash back.

Verdict

The Zync from American Express is ideal for those who want the freedom to customize their benefits. If you do not mind paying your balance in full each month, then Zync is packed with the benefits you might be looking for in a credit card.

The Travel Pack being offered also gives you the most value considering the $25 extra they charge for the different packs of the Zync Credit Card from American Express.