AmEx Is Souping Up Its Prepaid Debit Cards To Help Consumers With Thin Credit Files

american express card

Photo: Flickr / Images_of_Money

American Express is enhacing its prepaid debit cards to encourage consumers to build a financial history with the company. The Make Your Move program incentivizes prepaid customers to use their cards responsibly with higher ATM withdrawals and more cash loading options, among other perks, said VP of public affairs Leah Gerstner. 

While there is no specific criteria to meet, Prepaid cardmembers’ spending activity will be monitored for a period of time (six months minimum) before they can be pre-selected for an AmEx charge card. 

However, it’s important to note that not everyone will become eligible, said Gerstner. Regular usage like spending and loading the card are key factors. 

Not everyone may want to jump aboard AmEx’s plan, as good as it sounds. Before you enroll, use Nerdwallet’s prepaid debit card comparison tool to see whether the prepaid cards are right for you. 

Now see 7 dangers of using a debit card >

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