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System and of course we've invited -- on the show to defend her card.
And what was -- -- I'm gonna get to that the second the first rich copper is a certified financial planner and the managing director of wealth health.
Chuck Jaffe is a senior columnist for MarketWatch.
Welcome -- you both great to have bothered me back on the show I got to tell you we -- -- it come on the show we've also talked to Bancorp that's the bank behind the card.
Neither of them want to talk to US -- Here's what Susie is -- PR folks sent over to actually the best.
Thanks for reaching out you've done three segments so far without any input from Susie or the approved card team.
At this point we will just leave it there and respectfully decline your offer to appear.
All the best just took offense that's what this product.
She doesn't want to come on and talk about the card.
Is it do you think she's picking places to talk about this card maybe places that might be a little more receptive to check.
Well you know it could be I mean -- back in my radio days I had segment called why -- hate -- Armani and she actually came on our show and we had on the segment a few times so I'm not -- that by the logic that you've talked about you before.
I think she does know that -- perhaps nobody on the show or who's been affiliated with the show was like the card.
I'd love the series stand up for it right but the truth sales then it's not that big a deal if she comes on or not.
What is -- -- -- I would I would love to have her come on I really what -- I'd like to talk to -- about the card.
But rich do you what are the issues I've -- with this is that she maintains that ultimately.
In the long run this -- is gonna help people build credit right.
Is that possible with these debit cards.
I don't think so I mean at least not now because none of the credit agencies really want to look at the spending patterns on debit card so.
There's no credit reporting that's happening with these cards that's a long shot and that the what's what's out there right now it's gonna take 1824 months before this that is even collected -- -- being collected by Trans Union not the other two.
Credit agency reporting agencies so who knows what will happen in the future that would be a great thing but let's face it I think that's a selling tips four more more people to get her card.
You know about -- -- -- my big question always says so how does information about how live by.
Contribute to add to my financial profile I mean are -- let me money because I went to that to the pet store and so the grocery store today I just don't get what.
I agree it mean to her whole paradigm is that if you could build credit wire -- be awarding the people of those credit rather than -- -- that kind of makes sense intuitively.
But the reality is if someone's going to lend you money they wanna know that you're gonna make do in the future and -- yeah.
Over time exactly apple -- not that's not doing it.
-- in -- Currie says says she's targeting teens.
So the parents can get money to their kids.
I have to say that we found recently that Susie had bash the -- -- chance for doing the exact same thing with -- debit card what do you make of this.
Well there's two different things that I will tell you that.
Actually sued each card is pretty good when it comes to dealing with the kids if your kids are gonna be low volume users that's a pretty big -- Mean what's nice about her card if you've got kids.
Is that you can have one account.
For up to four kids and you're only paying three bucks a month.
On that fee for all four cards again for kids and -- got four cards it's a better deal they're getting four separate cards that you pay for separate monthly fees on.
But again the court has some people that would be okay for if they need a prepaid debit card.
As for bashing the cart as she -- the -- -- card was.
Really heavy in fees it was not just the amount of fees -- the number of fees like I said Susan's got twenty on -- It was that every -- was sort of over the top expensive.
And -- that was -- Really worse then then -- -- -- card operationally.
It's not as good as it should be but it's not as bad as it could be -- as -- -- the card.
-- well you know one of our guest called -- the cream of the crap.
-- cannot and I guess you know you can't make that point.
I wanna show that the breakdown here -- we got if you want Paper statements are two dollars each monthly -- three bucks check -- -- twenty dollars.
Express delivery shipping of the -- twenty bucks -- in query.
Thirty dollars so that adds up pretty quickly.
What you miss the big one Gerri what's that.
The big ones not -- there what are the big one is that if if you want to read one issue card with cash.
Every time you do it it's gonna cost you a minimum of three dollars and 95 cents it's not -- there are.
Because you have to do that with MoneyGram so the money goes to MoneyGram and not to the people who run -- proof card so that's what I can say it's not a fee.
And it's not a hidden -- -- folks -- -- -- their direct deposit or whatever you're gonna get hit unbelievable 395.
Every time you look caption.
And more and more right out of your pocket -- really helping you build credit by taking your money away rich CU you know.
We talk about celebrities endorsing some of these products.
Is -- really something you wanna look at at the end of the day do you wanna get your financial products from a celebrity.
Well I think it's something you wanna look at I think you have to question do you wanna get your financial products from them and I don't think so I mean at the end of the day.
These people are being paid it's really just their celebrity name being put to the product and trying to sell the product on on behalf of the whether it's a credit card company or or some other medication or or something else so.
I think you have to really look at the underlying product as you doing anything whether it's an insurance based product as annuity.
Or in the.
Can you know from the get go for celebrities endorsing it it's probably going to be more expensive than just a plain Vanilla.
Issue typically I mean if you do a quick Google search which I did this morning just on these cards in general because we have Alex Rodriguez we have Kardashians.
That credit is okay.
No credit check made a 100% approval.
Right there there's a smell test to meet this thinks on the matter who's issuing -- Check TUK you wrote recently that the problem with Susie is you don't know when the advice stocks in the advertising begins it could be that the advertising -- Never stopped it was always there should -- get rid of this card.
You don't technically.
I would say you know from the standpoint of if Susie has been telling us the truth -- she says she really created this card she really believes in the mission.
-- no she has to stick with that it may not be the best card out there.
But it's not the worst cart and she would need to stick with it.
Should she have never gotten -- yes I would argue that she should never gotten into it because.
She's not the kind of person who should be doing an endorsement when you talk about celebrity endorsers.
Nobody cares about the card -- from a financial perspective.
But in Susan's case you trust her morihiro so when shake hands are all -- -- -- card.
Or she used to do ads for GM AC and some things along those lines when she comes out says hey this is a good financial product.
I think that's where an endorsement really does carry weight with the public I I carry weight with her fan.
It's chuck I in the sealed -- the old -- -- -- this type of product out instead of you know getting money friend -- can -- I think he -- going on your product her mind she would.
But of course we don't have them because -- we would be in trouble whether or not says OK.
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