The personal finance guru Suze Orman jsut released her own prepaid debit card called Approved. Orman claims that there is only a $3 monthly fee for the Approval Card if you use it exactly as she says. This is another celebrity that has moved into the prepaid card space like the Kardashian’s who were unsuccessful and Richard Simmons who is very successful with his Rush Card promotion.
Suze Orman Approved Card Perks
The Approved Card from Suze Orman costs only $3 to activate which is very good, but it also comes with a $3 monthly fee. There are $2 ATM fees at any Allpoint ATM that are commonly found at your local CVS or Walgreen’s locations. However, if you choose direct deposit it will waive any ATM fee’s which is a very good perk.
You can also have the ATM fee waived with a bank transfer of a minimum of $20 balance. The card also comes with unlimited access to your TransUnion Credit Scores for One Year, but it’s important to note that these are not the same as FICO scores.
Suze Orman Approved Card Cons
For some reason Mrs. Orman thought that it would be a good idea to charge customers if they want to speak to a customer service representative. We are highly against this practice and think that if you need help accessing your money, it should be free! The Approved Card also comes with a $1 fee for making online bill payments, which is another negative.
Suze Orman is definitely staying far away from the Kardashian route of charging exuberant fees for a prepaid debit card, but she is definitely using her star power and position to try and make additional money. The features aren’t too outstanding but given the fact that you can only pay a $3 monthly fee if you use direct deposit, it makes sense to use the card. You definitely have other options, but the Suze Orman prepaid card is not a rip off and can help benefit your credit score.
If you have this card and have any questions or comments, leave them below.