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"Make Your Move" American Express Prepaid

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Lil_Me
New Contributor

"Make Your Move" American Express Prepaid

Has anyone heard about this prepaid card with American Express? Does anyone have any experience with this card. I would like to know as much as possible about this card. I had an American Express back in 1991 and I paid it on time, but it is a Charge Card and I didn't feel I was responsible enough to pay in full every month, so before I messed that account up I closed it.


10/3/2020 TU: 619, EP: 627, EQ: 613

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Message 1 of 137
136 REPLIES 136
CS800
Super Contributor

Re: "Make Your Move" American Express Prepaid


@Lil_Me wrote:

Has anyone heard about this prepaid card with American Express? Does anyone have any experience with this card. I would like to know as much as possible about this card. I had an American Express back in 1991 and I paid it on time, but it is a Charge Card and I didn't feel I was responsible enough to pay in full every month, so before I messed that account up I closed it.


This prepaid card has nothing to do with any credit products that AMEX offers. If you're looking to get back with AMEX, i'm fairly certain that getting an AMEX prepaid will not help you. The best way to build a relationship with AMEX is to get one of their credit/charge cards and build a good history wth them.

 

AMEX generally check EX but have been know to check other credit report.

 

- When you apply for a card with AMEX, they will pull your credit and see if it meets their minimum requirement for approval (no credit check for the prepaid)

- As per your siggy, it would be better if you wait for your scores to be above 650 to apply for an AMEX (no minimum score required)

- Their charge cards (Zync,Green etc) are 'easier' to get than their revolving credit cards. So you would want to start with a charge card

 

 

 

 


 




Message 2 of 137
lewdog
Established Member

Re: "Make Your Move" American Express Prepaid

I just put some money down to order one. I'll give it a shot, it couldn't hurt. I want an Amex card again. I too had one back in 91 and closed it a couple years after, all paid up. I am waiting until my 22 Experian hard inquiries fall off before I app again. I tried the Experian freeze then apply, but Amex didn't pull either of the other 2. They told me to unfreeze Experian. Maybe in  months, but I digress. I will post back here intermittently

Message 3 of 137
SoulMaster
Established Contributor

Re: "Make Your Move" American Express Prepaid

Me too.  (Lil knows this, I've been PMing her)  But for the rest of you, I'm testing the waters to see if Amex will let me in w/ a BK reporting if I "build a history with them".  I doubt it, but why not try?  Smiley Wink

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 4 of 137
Anonymous
Not applicable

Re: "Make Your Move" American Express Prepaid


@SoulMaster wrote:

Me too.  (Lil knows this, I've been PMing her)  But for the rest of you, I'm testing the waters to see if Amex will let me in w/ a BK reporting if I "build a history with them".  I doubt it, but why not try?  Smiley Wink

 

-SM



You must want to get in with Amex way more than I do! I have their prepaid card (somewhere...) but I'm not going to go through the hassle of using it just to get a chance at maybe getting a card from them. Transferring money onto a prepaid card to use it is a hassle, and it opens you up to the same problems as using a debit card (at least in my opinion).

But I guess it's a smart move from Amex, it's like a carrot on a stick. They'll probably get more people signing up and using their prepaid card by giving the potential for an easier approval down the line.

Message 5 of 137
SoulMaster
Established Contributor

Re: "Make Your Move" American Express Prepaid

Probably, If I can get an account open it will backdate to 1993 when I had my Amex Green.  (Closed in like 1997, when I had no clue what I was doing).  That's why I've made it my mission to get an (ANY) Amex card while my BK is still showing up.  Plus, if I can pull it off, I can let others know how to do the same thing.

 

As for the prepaid, it might help, it might not.  Either way, it's no sweat of my back to use it for $500/mo worth of purchases.

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of Late January 2016 All 700+. Last CR pull from a lender(housing) was mid-score 749.
Goal Score: 700+ - reached.
Message 6 of 137
steve23111
Frequent Contributor

Re: "Make Your Move" American Express Prepaid


@CS800 wrote:

@Lil_Me wrote:

Has anyone heard about this prepaid card with American Express? Does anyone have any experience with this card. I would like to know as much as possible about this card. I had an American Express back in 1991 and I paid it on time, but it is a Charge Card and I didn't feel I was responsible enough to pay in full every month, so before I messed that account up I closed it.


This prepaid card has nothing to do with any credit products that AMEX offers. If you're looking to get back with AMEX, i'm fairly certain that getting an AMEX prepaid will not help you. The best way to build a relationship with AMEX is to get one of their credit/charge cards and build a good history wth them.

 

AMEX generally check EX but have been know to check other credit report.

 

- When you apply for a card with AMEX, they will pull your credit and see if it meets their minimum requirement for approval (no credit check for the prepaid)

- As per your siggy, it would be better if you wait for your scores to be above 650 to apply for an AMEX (no minimum score required)

- Their charge cards (Zync,Green etc) are 'easier' to get than their revolving credit cards. So you would want to start with a charge card

 

 

 

 


 


CS800,

 

AMEX recently enhanced the prepaid product with the "Make Your Move" program, which after a period of responsible use of the prepaid card can lead to an invitation to apply for a charge card, presumably Zync.  The prepaid card itself doesn't establish any credit, and doesn't report to a CRA, but apparently AMEX is watching usage internally, so it is potentially an "in" for people with less-than-marginal credit.

Message 7 of 137
shane82388
Established Contributor

Re: "Make Your Move" American Express Prepaid

 


@steve23111 wrote:

@CS800 wrote:

@Lil_Me wrote:

Has anyone heard about this prepaid card with American Express? Does anyone have any experience with this card. I would like to know as much as possible about this card. I had an American Express back in 1991 and I paid it on time, but it is a Charge Card and I didn't feel I was responsible enough to pay in full every month, so before I messed that account up I closed it.


This prepaid card has nothing to do with any credit products that AMEX offers. If you're looking to get back with AMEX, i'm fairly certain that getting an AMEX prepaid will not help you. The best way to build a relationship with AMEX is to get one of their credit/charge cards and build a good history wth them.

 

AMEX generally check EX but have been know to check other credit report.

 

- When you apply for a card with AMEX, they will pull your credit and see if it meets their minimum requirement for approval (no credit check for the prepaid)

- As per your siggy, it would be better if you wait for your scores to be above 650 to apply for an AMEX (no minimum score required)

- Their charge cards (Zync,Green etc) are 'easier' to get than their revolving credit cards. So you would want to start with a charge card

 

 

 

 


 


CS800,

 

AMEX recently enhanced the prepaid product with the "Make Your Move" program, which after a period of responsible use of the prepaid card can lead to an invitation to apply for a charge card, presumably Zync.  The prepaid card itself doesn't establish any credit, and doesn't report to a CRA, but apparently AMEX is watching usage internally, so it is potentially an "in" for people with less-than-marginal credit.


+1

Message 8 of 137
lithium78
Established Contributor

Re: "Make Your Move" American Express Prepaid

Prepaid cards aren't really the best idea if you aren't having problems with chexsystems.  It's much better to open a checking account and use the debit card linked to it if you want to control your spending.  Prepaid cards have monthly fees, fees for online banking, usually fees for check deposits, and sometimes even fees for ATM withdrawals and POS purchases.  Most bank debit cards don't have those fees.

 

The best solution of all is to get a checking account with a linked credit card.  You can keep track of your spending through online banking and use your credit card for purchases.  Credit cards are much better for dealing with fraud.  With debit cards, if you report the fraud within two days of occurrence, you will be responsible for the first $50 and the rest will be covered.  But if you don't catch it within two days, you are responsible for the first $500 of the fraudulent purchase.  Most credit cards offer 100% fraud protection and you aren't responsible for a single cent of the fraudulent purchase.  That's something to keep in mind while you consider a prepaid debit card.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

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Message 9 of 137
LS2982
Mega Contributor

Re: "Make Your Move" American Express Prepaid

I did say I didn't like this card but maybe AMEX will like me if I treat this card good, thinking about getting it.




EQ FICO 548 3/3/16
Message 10 of 137
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