the card has been panned in the press as one of the worst cards for pricing, but if that doesn't scare you away, bummer cause i don't think there is an annual fee for it...anyway i think you're right. i only get prequalified for secured with hsbc too. so if i still wanted this card i woudn't reapply since it would probably be a no go again. i think i apped (denied) because i liked the purty card (glad i stopped doing that, LOL)
"If you dream of paying high interest and getting nothing for it, the American Dream Card may be for you. A 14.99% to 21.99% rate is not ridiculous if your credit isn't in top-notch shape, as is not being hit with an annual fee. The only silver lining this credit card seems to offer is entries into sweepstakes to win prizes that you will likely never win. If you are locked into getting a card with a 15%-plus interest rate, you are better off with a card that gives you cash back on purchases or frequent flyer points, at least. Even the department store credit cards give you discounts when you shop with them."