topic Re: AMEX Prepaid in Credit Cards

AMEX Prepaid

LS2982 — Sat, 14 Jan 2012 16:01:12 GMT

I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:02:08 GMT

@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

i would think it is says member?

Re: AMEX Prepaid

LS2982 — Sat, 14 Jan 2012 16:03:30 GMT

@Anonymous wrote:
@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

i would think it is says member?

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:07:13 GMT

@LS2982 wrote:
@Anonymous wrote:
@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

i would think it is says member?
??

Come on Dale spit it out

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:08:55 GMT

@Anonymous wrote:
@LS2982 wrote:
@Anonymous wrote:
@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

I would think it is says member?
??

Come on Dale spit it out

no no no, if it don't benefit in some way to get in amex why do it?

Re: AMEX Prepaid

LS2982 — Sat, 14 Jan 2012 16:10:18 GMT

@Anonymous wrote:
@Anonymous wrote:
@LS2982 wrote:
@Anonymous wrote:
@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

I would think it is says member?
??

Come on Dale spit it out
no no no, if it don't benefit in some way to get in amex why do it?

Thats what i'm asking, would it benefit me to get the prepaid card?

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:17:31 GMT

LS, AmEx won't let you in with a 664 EX Fico?

I would think you could get a Zync easily with that score, what are AmEx's reasons for not approving you?

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:20:51 GMT

@Anonymous wrote:
LS, AmEx won't let you in with a 664 EX Fico?

I would think you could get a Zync easily with that score, what are AmEx's reasons for not approving you?

thats right musty,, u was here the other night,,, read this http://ficoforums.myfico.com/t5/Credit-Cards/The-Decision/td-p/1155897/jump-to/first-unread-message

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:25:06 GMT

My gut says: "No. Someone either meets Amex's criteria or not.". It probably is a way to get on their radar but I just don't have that level of commitment. Others will likely disagree but I'd just wait. A prepaid card seems like too big of a step back, even if it's offered by American Express. It would feel like I was using/reloading a gift card all the time.

Re: AMEX Prepaid

-Cain- — Sat, 14 Jan 2012 16:29:02 GMT

There's a thread titled The Decision, you can see denial reasons towards the end.

LS, I think you should be good for AmEx my mid-year, I'd say definitely by December, even without the pre-paid. The pre-paid would probably help a bit if you ran some money through it though. If I remember correctly, you had just opened Barclays, right? I think that new account/INQ may have been an issue.

Re: AMEX Prepaid

LS2982 — Sat, 14 Jan 2012 16:30:05 GMT

@Anonymous wrote:
My gut says: "No. Someone either meets Amex's criteria or not.". It probably is a way to get on their radar but I just don't have that level of commitment. Others will likely disagree but I'd just wait. A prepaid card seems like too big of a step back, even if it's offered by American Express. It would feel like I was using/reloading a gift card all the time.

Yea that's how I feel too.

Re: AMEX Prepaid

-Cain- — Sat, 14 Jan 2012 16:33:01 GMT

LS, if you feel it won't help, don't do it.

This AmEx move deal is too new for anyone to know if it'd pay off, so it really is just up to how you feel about it.

Re: AMEX Prepaid

LS2982 — Sat, 14 Jan 2012 16:34:33 GMT

@-Cain- wrote:
LS, if you feel it won't help, don't do it.

This AmEx move deal is too new for anyone to know if it'd pay off, so it really is just up to how you feel about it.

Yea, I guess I'm still sour AMEX won't take me in even with a good credit score. Oh well, I'll wait.

Re: AMEX Prepaid

CS800 — Sat, 14 Jan 2012 16:34:57 GMT

Sine the prepaid is not a credit product, I doubt that it would help you. Unless they look at your spending / payment habit then 'invite' you for a charge card which is kind of the same. But you will still have to meet their 'secret requirements' to get in. Having a prepaid I don't think in itself would get you a pre-approval

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:35:49 GMT

@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

Well, this is an interesting question and depends on what you mean by "help."

Will it help you to be approved for an Amex in a year? You'll still need to meet their approval criteria, and I don't think having a prepaid card with them will change that. But, even though it's not quite a "foot in the door," it might be like them opening up the "peephole" to check you out -- ie: softing your reports and possibly deciding at some point that you've met their approval criteria, followed by an invite. Maybe...

Will it help you psychologically? This is a very different question, and it's also a valid one. Will it help you to feel like you have some sort of Amex product in your wallet? Will you be able to look at it as a stepping stone towards your goal? Or, as drkaje mentioned, will you see it as a step backward? There really is no right or wrong answer here; how you would view it is a personal matter and only you could say. But, if it would make you feel like you've got some sort of Amex product right now, that you've taken a baby step towards establishing a relationship with them, and will continue working towards getting a full-fledged charge product in the future, then I would say go for it. On the other hand, if you would see it as a step backward, then pass on it and just continue gardening and app for a charge product in a year or so.

Re: AMEX Prepaid

LS2982 — Sat, 14 Jan 2012 16:38:55 GMT

@Anonymous wrote:
@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

Well, this is an interesting question and depends on what you mean by "help."

Will it help you to be approved for an Amex in a year? You'll still need to meet their approval criteria, and I don't think having a prepaid card with them will change that. But, even though it's not quite a "foot in the door," it might be like them opening up the "peephole" to check you out -- ie: softing your reports and possibly deciding at some point that you've met their approval criteria, followed by an invite. Maybe...

Will it help you psychologically? This is a very different question, and it's also a valid one. Will it help you to feel like you have some sort of Amex product in your wallet? Will you be able to look at it as a stepping stone towards your goal? Or, as drkaje mentioned, will you see it as a step backward? There really is no right or wrong answer here; how you would view it is a personal matter and only you could say. But, if it would make you feel like you've got some sort of Amex product right now, that you've taken a baby step towards establishing a relationship with them, and will continue working towards getting a full-fledged charge product in the future, then I would say go for it. On the other hand, if you would see it as a step backward, then pass on it and just continue gardening and app for a charge product in a year or so.

I wouldn't want it to just say to myself I have a AMEX product, the only way I would want it is if it benefited me in getting a charge card. And judging by the responses it probably won't so ill stay away from it.

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:41:20 GMT

@LS2982 wrote:
@Anonymous wrote:
@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

Well, this is an interesting question and depends on what you mean by "help."

Will it help you to be approved for an Amex in a year? You'll still need to meet their approval criteria, and I don't think having a prepaid card with them will change that. But, even though it's not quite a "foot in the door," it might be like them opening up the "peephole" to check you out -- ie: softing your reports and possibly deciding at some point that you've met their approval criteria, followed by an invite. Maybe...

Will it help you psychologically? This is a very different question, and it's also a valid one. Will it help you to feel like you have some sort of Amex product in your wallet? Will you be able to look at it as a stepping stone towards your goal? Or, as drkaje mentioned, will you see it as a step backward? There really is no right or wrong answer here; how you would view it is a personal matter and only you could say. But, if it would make you feel like you've got some sort of Amex product right now, that you've taken a baby step towards establishing a relationship with them, and will continue working towards getting a full-fledged charge product in the future, then I would say go for it. On the other hand, if you would see it as a step backward, then pass on it and just continue gardening and app for a charge product in a year or so.
I wouldn't want it to just say to myself I have a AMEX product, the only way I would want it is if it benefited me in getting a charge card. And judging by the responses it probably won't so ill stay away from it.

That being the case, I would agree. You found out from the denial what you need to do to get approved. Give it time and you'll eventually get what you really want.

Re: AMEX Prepaid

LS2982 — Sat, 14 Jan 2012 16:43:20 GMT

@Anonymous wrote:
@LS2982 wrote:
@Anonymous wrote:
@LS2982 wrote:
I know it's been discussed here before, but for my situation I wonder if it would help me if I held it for a year and tried (for the last time) with AMEX for a charge card.

Well, this is an interesting question and depends on what you mean by "help."

Will it help you to be approved for an Amex in a year? You'll still need to meet their approval criteria, and I don't think having a prepaid card with them will change that. But, even though it's not quite a "foot in the door," it might be like them opening up the "peephole" to check you out -- ie: softing your reports and possibly deciding at some point that you've met their approval criteria, followed by an invite. Maybe...

Will it help you psychologically? This is a very different question, and it's also a valid one. Will it help you to feel like you have some sort of Amex product in your wallet? Will you be able to look at it as a stepping stone towards your goal? Or, as drkaje mentioned, will you see it as a step backward? There really is no right or wrong answer here; how you would view it is a personal matter and only you could say. But, if it would make you feel like you've got some sort of Amex product right now, that you've taken a baby step towards establishing a relationship with them, and will continue working towards getting a full-fledged charge product in the future, then I would say go for it. On the other hand, if you would see it as a step backward, then pass on it and just continue gardening and app for a charge product in a year or so.
I wouldn't want it to just say to myself I have a AMEX product, the only way I would want it is if it benefited me in getting a charge card. And judging by the responses it probably won't so ill stay away from it.

That being the case, I would agree. You found out from the denial what you need to do to get approved. Give it time and you'll eventually get what you really want.

Yup. I'll make sure to follow that letter to the T this time, since they apparently don't like to budge from any of it.

Re: AMEX Prepaid

CS800 — Sat, 14 Jan 2012 16:45:13 GMT

Time goes by so quickly that in no time we will be seeing a 'zync approved' thread from Luke. Who knows maybe you will go straight to the BCP

Re: AMEX Prepaid

Anonymous — Sat, 14 Jan 2012 16:47:07 GMT

Quote isn't working for me at the moment, LS. It would just feel icky, LOL! I just don't value having an Amex enough to go that far. Not criticizing or judging anyone who successfully goes that, or any other, route. I'm just not in a place (credit-wise) where a prepaid or secured card is necessary. I'm already AU on DGF's Amex Delta and haven't used it in over a year. I also have USAA's Amex which has some benefits of their network. The delta is nice to have for utilization but the limit is only $4K and I could do fine without it. I really only want the BCP for backdating, Groceries, and Gas. It's likely attainable now but I'm going to stick it out for a year in garden mode.. unless there's an offer that includes waiving the AF, LOL! I realize it's Amex but really couldn't fully (honestly) explain the icky feelings without giving offense. Amex is a good company and it's understandable that people value their product/service, I just wouldn't pay in advance to feel included.