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Amex is trying to get people to sign up for thier prepaid cards... It looks like they'll review your account and possible send an offer for a charge card.
The following is from the AMEX Prepaid Site:
HOW IT WORKS
I'd say that anyone out there craving an Amex card should sign up for this deal
I know that people have asked in the past if getting a PrePaid AMEX card would help get them in the door, so I guess we have an answer now....
Thanks for posting !
Its weird they state that it spends like cash been in all reality I do not think it does, I do not think you can pay yorur mortgage with it
Invited, not pre-approved.
@trumpet-205 wrote:Invited, not pre-approved.
"Use it regularly for your everyday needs to create a history with American Express."
Yes, but it sounds like it will help to get a foot in the door, as they'll have some sort of track record to look at which might affect their decision to approve. I think that this is a good opportunity for individuals who are just starting out.
someone remind me, do they pull your credit for prepaid
No AMEX does not pull your credit for the PrePaid card.
While its good that AMEX says that, it's not a pre-approval by any means. When you apply for a prepaid card, your credit is not pulled at all.
They will just monitor how you spend with the prepaid but what if you use it well for 1 year and decide you want a charge card? The will still pull your credit. Maybe they will factor your payment history on the prepaid card into their internal scoring model?
Payment history? You load the money into prepaid card first before spending.
I just signed up. I need all the help/pull I can get with Amex. I really want to qualify for one of their charge cards (Zync is my best bet). So basically I will just load what I want to spend for the month onto this card and use it instead of my debit card. Hopefully after 6 months of this, and some work on my credit reports, they will deem me worthy of their cards.
FYI...they do not do a HP or SP (as far as I can tell) and the card in no way affects your credit. They do need your SS # though, which is probably how they end up tracking you for offers.