Introduces The Approved Card™
A Prepaid Card that puts PEOPLE FIRST
Transparency, Low Fees, Unrivaled Benefits
NEW YORK, Jan. 9, 2012 /PRNewswire-USNewswire/ -- Suze Orman, American personal finance icon, best-selling author and Emmy-award-winning television host, today launched The Approved Prepaid MasterCard®. The Approved Card™ isn't just another financial product or a normal prepaid card. It's the start of a financial revolution to enable Americans to empower themselves. Orman, the longtime financial crusader, is inviting consumers to join her "PEOPLE FIRST" movement with her Approved Card. Suze didn't just endorse this card – SHE CREATED IT from the ground up to change the way people think about and use their cash.
Suze Orman said: "For me, The Approved Card is a mission. It's the single most important thing I've done in my whole career. This is my answer for all those who are looking for a better way to bank, use plastic and feel secure knowing that their interests are being put before fees and profit motives. People are tired of not getting fair financial deals."
The Approved Card created by Suze Orman carries her name and a promise of unrivaled benefits, innovation and value with no hidden fees. And this will be the first prepaid card in history to work with TransUnion® – one of the three major U.S. credit bureaus – to find out whether including prepaid card transaction data in credit reports should impact consumers' access to credit. The Approved Card will include a set of features unlike any other prepaid card in the marketplace:
- Suze Orman's advice and tips on personal finance.
- Free TransUnion credit reports, monitoring and credit scores with UNLIMITED updates.
- Free 24/7 email updates of your critical changes to your TransUnion credit report – a retail value of almost $150 per year.
- Free Identity Theft Protection by TrustedID® – a retail value of $29.95 per year.
- Unlimited free cash withdrawals from any Allpoint® ATM each month when you make at least a $20 direct deposit or electronic transfer during that month.
- The Approved Card connects you to your money with your choice of text and email alerts after every transaction, daily or weekly—as well as account balance updates every morning. (Standard text messaging rates from your wireless service provider may apply)
- TheApprovedCard.com includes a free dashboard to track your spending and saving in up to five different goal funds and three connected secondary cards. The dashboard also includes a return tracker created by Suze that will remind you to check the status of returned Approved Card purchases.
- The card will carry some of the lowest fees in the industry – with a $3/month fee for up to four cards and all of these benefits when you use the card exactly how Suze tells you to. The Approved Card provides incredible value compared to other cards in the industry that charge up to $10/month per card, plus certain usage fees.
- There is no activation fee for The Approved Card, compared to other cards' fees of up to $9.
- No cancellation fees or inactivity fees.
- Your funds are FDIC insured up to $250,000. The Bancorp Bank; Member FDIC.
- Plus, the Approved Card is covered by the MasterCard Zero Liability Policy for Lost and Stolen Cards (Conditions and exceptions apply – see Cardholder Agreement).
Consumers will see other prepaid cards on the market that charge more and offer little or none of Suze Orman's added value. The Approved Card also provides an unprecedented array of benefits for a prepaid card, such as identity theft protection, TransUnion credit scores, reports and monitoring that are expensive when purchased elsewhere. With transparent and competitive fees, as well as fantastic money management tools, The Approved Card will connect you with your money in a way no other card does.
The Approved Card has forged a unique relationship with TransUnion, one of the three major U.S. credit bureaus. Transaction information from The Approved Card will be shared with TransUnion to determine whether including this data in a credit report should impact access to credit products. This data will not appear on credit reports at this time. You should also be aware that the transaction data to be shared is not identified to specific cardholders, and that this process will take 18 to 24 months. The goal is for people to get the FICO score they deserve for responsibly using cash instead of going in debt with credit cards. The Approved Card is not designed to improve a credit record, history, or rating, and use of The Approved Card will not and cannot improve or fix a credit score or rating.
Orman said: "I have always said, people first, then money, then things. This card puts PEOPLE FIRST. Join me in this movement today, take control of your finances and get yourself APPROVED."
For more information go to www.TheApprovedCard.com.
The Approved Prepaid MasterCard® is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated and can be used wherever Debit MasterCard is accepted. The Bancorp Bank. Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated. The name "The Approved Card" and the card design are trademarks of APPROVED LLC. All other trademarks and service marks are the property of their respective owners. The Approved Prepaid MasterCard® is offered exclusively by APPROVED LLC and its authorized agents and is administered by RedWage LLC.
SOURCE The Bancorp Bank