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.
"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
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?
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.