With what might win the honor for many boneheaded public relations move of 2012, on Monday January 9 th the entire world woke as much as the statement that Suze Orman, host for the popular Suze Orman Show on CNBC, had partnered because of the Bancorp Bank to introduce and endorse The Approved Card, a pre-paid debit MasterCard. Pre-paid debit cards have quite poor reputations and tend to be thought to be among the list of worst monetary solutions services and products. They’ve also attracted advertising partnerships along with other notable finance specialists such as for instance Russell Simmons, Kimora Lee Simmons, the Kardashian siblings, Lil Wayne and Alex Rodriguez (sic).

The main critique of pre-paid debit cards could be the cost structure, that is often considerable and complicated, regardless of specific pre-paid card. The charges are typically disseminate more than a number that is large of actions, such as for example asking regarding the stability or asking for a paper declaration. The Approved Card, as an example, includes a charge attached with 20 consumer that is different and so they change from as little as $1.00 (Bill Payment Fee making use of a paper check) to since high as $30.00 (Bill Payment Fee – re re payment inquiry.) There’s a $3 charge merely to have the card and a $3“account that is monthly fee” too. Continua a leggere