Secured Amex??

[Anonymous]

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@Creditdreamer wrote:
So if I were to apply for Zync and get denied, would I recon to get them to offer me the auto-pay set up one? Also, anyone heard about the "Make your move" debit card through Amex? Has anyone had this and had appropriate spending habits and been offered a charge card around the 6 month time like they say?

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I don't know if you can really recon it - from what I understand, it's a counter-offer the make (like BofA sometimes counter-offered the partially secured card if you were denied for their unsecured cards).

As far as the pre-paid Amex goes, there's several threads about it already. The MyM program hasn't been around long enough for anyone to have had it for 6 months.

[Creditdreamer]

Do you think I'd be better off putting a higher deposit on my 200 CL secured CapOne and then using that and having that history show up for the next 6 months or should I risk the MyM with no guarantee it'll go anywhere? Or should I get another secured card and then after a while app for a Zync?

[Anonymous]

Since nobody really has experience with the program.. it's hard to say what kind of impact it'll actually have on applying. I decided against wasting my time with a prepaid card (I've had it for 3+ months, I just never use it), but I know we've got several people here who are trying their luck with it.

Keep in mind that a prepaid card will do absolutely nothing for your credit report, so unless you're extremely set on improving your odds for an Amex in the short-term, you might just be better off using the cash for a secured card. Unless you use it regularly, I doubt the prepaid card will make any difference anyway.

As far as getting another secured card, it depends on how many accounts you have. If you already have 2+ credit cards, it's probably not worth it. But if you only have the one Cap One secured card, I'd open a second one with someone else.

[Creditdreamer]

Thanks Andy! You've been really helpful.