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AMEX prepaid or AMEX PASS for college graduate gift?

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Anonymous
Not applicable

AMEX prepaid or AMEX PASS for college graduate gift?

for a younger brother.

 

 

Message 1 of 7
6 REPLIES 6
pizzadude
Credit Mentor

Re: AMEX prepaid or AMEX PASS for college graduate gift?


@Anonymous wrote:

for a younger brother.

 

 



Does he currently have any credit cards ?  Any idea what his credit picture is like ?

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 7
Anonymous
Not applicable

Re: AMEX prepaid or AMEX PASS for college graduate gift?

no idea.

 

further reading leads me to believe the Prepaid would be more effective, at least internally, concerning a future Amex charge card.

 

  • Order an American Express Prepaid Card in your name.
  • Use it regularly for your everyday needs to create a history with American Express.
  • Once a good track record is developed, you may be invited to apply for an American Express Charge Card. It's just one more way to work toward financial independence.
Message 3 of 7
pizzadude
Credit Mentor

Re: AMEX prepaid or AMEX PASS for college graduate gift?

 

Sounds like a great gift !  I would have loved any kind of gift card like that....

 

And if he decides to apply and get in with AMEX, it would be great for his future credit history w/backdating.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 4 of 7
Anonymous
Not applicable

Re: AMEX prepaid or AMEX PASS for college graduate gift?

ok now how to fund using an Amex.

 

Is there an option to do so?

 

Otherwise can I get a MoneyPak using my Amex and then load the prepaid?

 

pointspointspoints Smiley Very Happy

Message 5 of 7
buildingitbackup
Regular Contributor

Re: AMEX prepaid or AMEX PASS for college graduate gift?

I thought Prepaid nor Pass backdates if you were to get a charge card.


Starting Score: <600 & No Score 2/2011
Current Score EQ : 726
Current Score (TU Walmart): 676
Goal Score: 750


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Message 6 of 7
Revelate
Moderator Emeritus

Re: AMEX prepaid or AMEX PASS for college graduate gift?


@buildingitbackup wrote:

I thought Prepaid nor Pass backdates if you were to get a charge card.


It doesn't backdate, but Amex states their pre-paid card is for people just starting out with credit that want a shot to get in with the Amex family.  

 

I think it's a good plan, danpass has it right in his analysis AFAIK.  As for funding it, there is an option once you log into the Amex account to fund the card (some random link on the right as I remember) and you can setup your bank account information there.  It'll take a week or so to fund it.

 




        
Message 7 of 7
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