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Suze Orman has introduced her one-of-a-kind credit card

CITE: Marketwatch.com

Suze Orman the, financial guru, has launched her Approved Prepaid MasterCard, which she created in her efforts to change the way people use their cash and think about cash.

Orman believes her Approved Card will teach people how to better use “plastic” as well as improve their banking skills and know that their interests are priority over profit motives and fees.

This card carries Orman’s name and an assurance that there are no hidden fees, unparalleled benefits to this card as well as value and originality. This card is the first prepaid card in history to work with TransUnion, which is one of the three top U.S. credit bureaus, in an effort to discover whether including prepaid card transaction data in credit bureaus will cause a change in the access that consumers have to credit. This card has features that no other prepaid card in the marketplace currently has.

The Approved Card will include a set of features unlike any other prepaid card in the marketplace including Orman’s tips and advice on personal finance; monitoring, credit scores, credit reports with unlimited updates for free from TransUnion. The owners of the card will receive free email updates 24/7 regarding any serious changes to their credit report, which equals $150 in retail value.

Moreover, the card provides free identify theft protection by Trusted ID, which has a retail value of $29.92 a year, and the ability to free and unlimited cash withdrawals from any Allpoint ATM each year when the card-owner makes at least a $20 electronic transfer per month or direct deposit.

The card owner receives email alerts when a transaction occurs or a text, your choice, daily or weekly if you prefer. In addition, account balance updates are available every day and a free dashboard comes along with the card so you can track how much you are spending and how much you are saving. Another great feature of the dashboard is a return tracker which checks the status of any returned purchases that you’ve made.

Better yet, this card carries some of the lowest fees, with a $3 monthly fee for up to four cards, as will as all benefits when you utilize the card as Orman instructs you.

This card gives great value compared to other cards that charge $10 monthly for each card as well as certain usage charges.

There is no activation fee for The Approved Card, which is another perk and there are no inactivity fees or cancellations fees.

MY TAKE:

“Plastic” is a fact of life, for most of us, good or bad. If there is a way that consumers can better learn to handle their finances, and Orman believes she has the way, kudos to her. It’s hard to do without a credit card nowadays but often people get in way over their heads before they know it. Orman’s card offers features that should help the average man on the street keep better track of his expenditures and teach him how to be savvier about his finances.