AMEX prepaid card-any benefit?

[Duncanrr]

LOC what were your scores at approval and what kind of usage did you have on prepaid? Amount deposited vs amount charged each month?

[Creditaddict]

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@aussiesareforever wrote:

I've had the Prepaid Amex for seven months now. Got it in January. Amex has not softed me ONCE on experian and I certainly haven''t gotten an invite to apply.

I'm pretty sure they wouldn't approve me anyways but I was just curious to see if they would soft me. I am still using the card since I have funds automatically deposited to it but I doubt that it will help increase your approval for a zync

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I'm confused... Why do you and why are you using a Amex Pre-Paid Card with scores in the 700 and other cards with $4k lines of credit?

[Duncanrr]

I ordered the prepaid card yesterday and got confirmation email today.  Was able to logon and setup account and should have card next week.  Might as well take every possible opportunity to make myself look better to AMEX.  I'll load the card with $500 per pay check and use it to pay some online bills (Entergy, water, cable, cell phone).  I'll use my secured cards for dining and entertainment.

What have I got to lose?

[sjt]

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@Duncanrr wrote:

I ordered the prepaid card yesterday and got confirmation email today.  Was able to logon and setup account and should have card next week.  Might as well take every possible opportunity to make myself look better to AMEX.  I'll load the card with $500 per pay check and use it to pay some online bills (Entergy, water, cable, cell phone).  I'll use my secured cards for dining and entertainment.

What have I got to lose?

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I think having a prepaid card helps getting approval for an Amex Card.

Asisde from getting an invitation, you can use the card as a reference when applying for an Amex Card.

[Duncanrr]

Im an old competitive swimmer.  I used to shave all my body hair for an extra 0.1's of a second.  Of course I'm going to try to squeeze out any benefit from this I can

[aussiesareforever]

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@Creditaddict wrote:

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@aussiesareforever wrote:

I've had the Prepaid Amex for seven months now. Got it in January. Amex has not softed me ONCE on experian and I certainly haven''t gotten an invite to apply.

I'm pretty sure they wouldn't approve me anyways but I was just curious to see if they would soft me. I am still using the card since I have funds automatically deposited to it but I doubt that it will help increase your approval for a zync

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I'm confused... Why do you and why are you using a Amex Pre-Paid Card with scores in the 700 and other cards with $4k lines of credit?

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I got the prepaid cause I want the Delta Amex. I fly Delta all the time- easily do about 25,000 miles a year and the AMEX will be a good way to help me get even more miles.

ALAS...I have a BK from 2008. Amex and BKs don't mix. The prepaid card was just an experiement. To see if they would even look my way. And like I stated before, no soft pulls from them or anything at all. I initially ran about $500 a month on the prepaid card but I got tired of it cause it takes FOREVER to transfer funds. I now just use it to pay my cable bill since I have it automatically deducted and I don't want DIrecTV to have access to any of my other CC.

About 10-12 people on this site, maybe even more, got the AMEX prepaid 6-7 months ago. So far I haven't heard anybody say that AMEX has extended an invitation to them. My recommendations will be to find other ways to work on your credit. The prepaid card will likely not help increase your chances of getting a card.

[Duncanrr]

Did those others also have BK's on their reports? My only negatives, except Verizon, are lates. I think this card will help address that weakness. This card isn't going to make you suddenly worthy of approval but I think it will address limited weaknesses such as thin credit file or payment history.

Guess I'll find out when I app later this year.

[aussiesareforever]

I don't remember anybody else having a BK but it wouldn't have mattered anyways cause AMEX doesn't know I have a BK. They still haven't checked my credit. I had the same illusions you did when I got the card. I think you shoud use it (I am still using mine) but don't bank on it helping you get a card.

[Duncanrr]

Agreed. Not banking on it and it it does end up helping I'll never know. But if I'm declined later it wouldn't be because I failed to put best foot forward.

[aussiesareforever]

True that