AmEx’s Zync card targets charge-happy youth
Raise your hand if you use a charge card. OK. Put your hand down if you are over 30. I see. There are no hands up. Well, at least that’s what I’m guessing.
American Express is hoping I’m wrong, though. Its new Zync card, unveiled Dec. 8, is a charge card targeted at 20-somethings. The company hopes to lure a younger demographic to a type of payment card dominated by older cardholders by offering a lower annual fee and customizable point offerings.
A charge card, for those who don’t know, is a special piece of plastic that requires the user to pay the balance in full each month. That means no dodging your debt; you gotta pay up every month. This is generally viewed as a good thing because you avoid charges, but still have the convenience of deferring some money when you have to.