Gold & Silver Pawn Shop Launches Modern Cash™ Prepaid MasterCard®

LAS VEGAS, Oct. 10, 2011 /PRNewswire/ -- Gold & Silver Pawn, proprietors and stars of the hit cable television series 'Pawn Stars,' today announced the launch of their signature Modern Cash Prepaid MasterCard. This limited edition card offers a low-cost, prepaid alternative to traditional credit cards, bank accounts and check-cashing establishments. The Modern Cash Prepaid MasterCard Limited Edition Gold & Silver Pawn Shop card is being brought to market in partnership with Redwood Hills Financial Group, a leading prepaid debit card manager. For more information, visit www.GSPawnPrepaid.com.   

"For centuries, pawn shops have provided financial services to consumers who don't have a traditional checking account or credit card," said Rick Harrison, owner of Gold & Silver Pawn Shop.  "Our prepaid debit card is a natural extension of what we've been doing for years in our shop – giving good people some financial 'wiggle room' and direct access to their money. This card provides customers with a cheap and reliable checking account alternative."

Unlike a traditional credit card where a consumer 'borrows' funds and pays interest and possibly added costs for services and overdraft, a prepaid debit card allows the cardholder to spend what has been deposited on the card.  This gives consumers ultimate freedom over their spending and can serve as a budgeting tool.  

The Modern Cash Prepaid MasterCard allows cardholders to use the card anywhere MasterCard is accepted -- in stores, online and at ATMs around the world.  There is no set-up fee and no monthly maintenance fee for cardholders that deposit $2,000 per month or more onto the card.  By having pay or benefits checks directly deposited onto the card, cardholders can avoid high check-cashing costs.  Other options include online 24-7 account access, free SMS account alerts, and overdraft protection.  A rewards program is in the works that will let cardholders bid on various consumer electronic and other retail items, including one-of-a-kind Gold & Silver Pawn Shop memorabilia.  Cardholders that sign-up and load cards before the rewards launch date will earn bonus points.

Michael Odai, Chief Executive Officer of Redwood Hills Financial Group stated, "We are thrilled to be joining Gold & Silver Pawn and the Harrison family to bring to market the Modern Cash Prepaid MasterCard.  This card will help build upon their vision of ensuring consumers are provided with affordable and attractive checking account alternatives."

For a full list of card features please visit www.GSPawnPrepaid.com.

United Talent Agency brokered the deal for the Modern Cash Prepaid Limited Edition Gold & Silver Pawn Shop card.  

About Gold & Silver Pawn Shop

Gold & Silver Pawn Shop is a family-owned pawn business run by three generations of the Harrison family: Rick, his son Big Hoss (Corey), Rick's dad, The Old Man, and Corey's childhood friend Chumlee. Based in Las Vegas, Nevada, the Gold & Silver Pawn Shop and Harrison family (and Chumlee!) are the subject of one of the most-watched and highly acclaimed television series 'Pawn Stars.'

About Redwood Hills Financial Group

Redwood Hills Financial Group is a leading financial services company focused on bringing prepaid debit cards and other financial products to underserved markets.  The RHFG executive team brings over 40 years of experience in the financial industry, web marketing industry and the statistical analysis field.  RHFG's goal is to combine best practice implementation with hands on experience to help its clients navigate the economic and regulatory landscape.

SOURCE Gold & Silver Pawn