topic Re: AMEX Prepaid... does it help? in Credit Cards

AMEX Prepaid... does it help?

TwistedAngel — Sat, 06 Apr 2013 05:28:53 GMT

Would getting one of those AMEX prepaid cards and treating it like a $500 secured card (reloading back up to $500 after charges) help my chances of getting a BCE in a year, if I decide I still want one when I am not feeling irritated at them for denying me?

Re: AMEX Prepaid... does it help?

Anonymous — Sat, 06 Apr 2013 05:34:50 GMT

I did some studies on the matter and believe it or not Amex clearly states that using the card will not report on your credit report but will report on amex int system

So you will build history with them and will possibly if credit situation permit like /Fico score/UTL/Any lates.etc.will be invited to apply for the charge card after 6 months

Its not guaranteed but none of the apps are not 100% guarantedd approval anyways

Someone correct me if iam wrong

Re: AMEX Prepaid... does it help?

myjourney — Sat, 06 Apr 2013 05:40:09 GMT

Correct they did have a program that would graduate you to an amex card

because they tracked your spending but it was a flop and discontinued the first of the year

@Anonymous wrote:
I did some studies on the matter and believe it or not Amex clearly states that using the card will not report on your credit report but will report on amex int system
So you will build history with them and will possibly if credit situation permit like /Fico score/UTL/Any lates.etc.will be invited to apply for the charge card after 6 months
Its not guaranteed but none of the apps are not 100% guarantedd approval anyways
Someone correct me if iam wrong

Re: AMEX Prepaid... does it help?

Anonymous — Sat, 06 Apr 2013 05:44:44 GMT

Ouch in that case is waste of money

I believe however that amex will take in to consideration the Prepaid history with them if you decied say 1 yr later to apply for their charge card

You can correct me again.lol

Re: AMEX Prepaid... does it help?

myjourney — Sat, 06 Apr 2013 06:11:13 GMT

I remembered the name of the AMEX program

"Make Your Move”

Re: AMEX Prepaid... does it help?

Burned2manybridgesB4 — Sat, 06 Apr 2013 08:56:26 GMT

OP, if you're not opted out, sign up for their offers by email, and do a charger app, if you can take the inquiry hit. If you're denied, they'll watch for you in their system. Don't app again until you start getting the pre approvals in the mailbox.

Re: AMEX Prepaid... does it help?

Alcibiades — Sat, 06 Apr 2013 20:49:43 GMT

I don't think I have heard of a single case of an Amex prepaid charge being automatically "graduated" to a credit product of any kind. I am sure some charge card holders may have applied for Amex cards and received them, but that may have been because their credit scores improved (or they would have been approved anyway when they got their prepaid). The only real way to test it is to get a prepaid card, keep your exact credit profile (same utlilzation, outstanding debt, FICO scores, etc) while spending a lot of money through the Amex prepaid to see if it really could be upgraded.