The Suze Orman Lie
Suze Orman’s Approved Prepaid Debit Cards Are Quietly Discontinued
26 Jul Who's up for another celebrity-branded prepaid card? This time it's not just a celebrity. It's the self-proclaimed “Most Trusted Personal Finance Expert” in America today, Suze Orman. She just released The Approved Card. I like Suze, but I don't like that she has created this card and is marketing it in this way. 24 Jun Let me first say that Suze Orman is a wonderful woman. I've had nothing but great interactions with her when I've seen her. And she gives great advice on CNBC. But she decided several years ago to market products under her name, including an approved pre-paid MasterCard. The promotions she did. 16 Jun Cards like Approved do not currently influence the all-important FICO score, which is used to qualify for mortgages and other financial products. Suze Orman is quietly getting out of the payments business. Starting July 1, Ms. Orman's Approved card, a prepaid debit card aimed at budget-challenged.
Pre-paid cards are everywhere you go these days, but one from a respected financial guru has now bit the dust.
Suze Orman 2017 ☯ Show HOW TO MAXIMISE YOUR MONEY,October 29 2017 - Suze Orman 2017
Let me first say that Suze Orman is a wonderful woman. And she gives great advice on CNBC.
This is definitely part of that latter group. As opposed to what? So bad, that it was run out of town. Not all merchants will do this, but many will.
But she decided several years ago to market products under her name, including an approved pre-paid MasterCard. The promotions she did surrounding the launch were great. At that time, it was one of many co-branded cards like the Kardashian Kard that were coming out.
Prepaid cards have become ubiquitous.
You see them when you go into a drug store, gas station, convenience store, discount store, you name it. But the reality is pre-paid cards are a landmine.
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You deposit money on account that you get to use as if it were a credit card but without consumer protections or like an ATM card to withdraw money but without the protections of an ATM card. If your card is lost or stolen, you often lose your money. And then there are the monthly fees — the activity fees, the inactivity fees, the balance check fees, and on and The Approved Card From Suze Orman. So if pre-paid cards stink, what should you look for as a superior choice if they appeal to you?
First, there is an exception as an alternative to a traditional checking account that you may have heard me talk about in the past and that is the Bluebird card. But the best answer for most people is to have an account with a credit union.
When you open an account at a credit union, you own the place. Because the goal at a credit union is to serve its customers, not to make profit for some remote shareholders like a big bank would do.
Of course, some credit unions get so big to where they forget their original mission and focus. But the ones that lose their purpose are the exception, not the rule. To find a credit union near you, visit FindaCreditUnion. Because of the public outcry over how much these things stink, Visa will mark pre-paid cards that meet a modicum of basic consumer-friendly practices by the end of the year.
Why pre-paid cards are a ripoff Prepaid cards have become ubiquitous. Better alternatives to pre-paid cards?
Which part do you object to? But the best answer for most people is to have an account with a credit union. You see them when you go into a drug store, gas station, convenience store, discount store, you name it.
Visa steps up with new standard for pre-paid cards Because of the public outcry over how much these things stink, Visa will mark pre-paid http://meetgirls.date/vyge/he-likes-her-but-i-like-him.php that meet a modicum of basic consumer-friendly practices by the end of the year.
Clark Howard is a consumer expert whose goal is to help you keep more of the money you make.
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His national radio show and website show you ways to put more money in your pocket, with advice you can trust.