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LovingKayla · 03-10-2012, 02:10 PM

Http://oprah.com/moneyclass

It's called the approved card. It cost 3 bucks a month. Period. AND it's reported to the credit bureo transunion. You guys that's amazing. All the cash only people, off the grid, that need credit or to restore credit have a way now.

Fort Worth Punk · 03-10-2012, 04:43 PM

One quick point. This will not help establish/repair credit. TransUnion is conducting tests to determine if debit card spending might make a good addition to credit scores, but the reporting is anonymous and is not used to calculate your score and does not appear on your credit report.

Guest071613-2 · 03-10-2012, 04:48 PM

LK I love u! Gotta tell ya, though....Suze has lots of hidden fees. LOTS. Found out about it on "Deal or Dud" on the news a couple months ago, after I had already subscribed.

WAAAAAAY more than the average card you can get at Walgreen's.
I have an "Account Now" card and it also works toward improving my credit, without me paying hundreds of dollars per year to have a celebrity name on the card.

It made me sad when I found that out, because I like the bitch. She's a sellout though.

Juan Pablo de Marco · 03-10-2012, 05:51 PM

Quote:

Originally Posted by LovingKayla

Http://oprah.com/moneyclass

AND it's reported to the credit bureo transunion.

“The information about the usage of the prepaid card is not being reported to TransUnion for the purposes of credit reporting,” explains John Ulzheimer, president of consumer education at Smart Credit.com. “It’s being sent to TransUnion for the purposes of research. If you read further into the website it says plain as day: ‘This data will not appear on your TransUnion credit report at this time.’”

quoted from this article:

http://bottomline.msnbc.msn.com/_new...new-debit-card

Daen1304 · 03-10-2012, 06:19 PM

I do not like Oprah. The more I find out about her the more she appears to be a lieing cold hearted bitch. Now I don't have a problem with that, but when she is trying to have caring, family orientated image then it is hypocritisim. And that I have a problem with. Pretty sure her show took off because she used it to empower women during a time when it was needed. If it wasn't for the people that already pointed out that the card is not a dream come true I would advice throwing that thing under a microscope. The whole deal sounds too good to be true.

LovingKayla · 03-10-2012, 06:38 PM

If she's a sell out I'm super pissed too. I JUST saw the show she did a couple weeks ago about this and she SWORE it was 3 dollars. Period.

The reporting takes 18 months and then yes she did say, they would decide if it went toward.

Well shit. Anyone else have info? I was considering changing one of the bank accounts over to that card.

Is there a link to her hidden fees or did I miss it earlier?

Guest071613-2 · 03-11-2012, 08:52 AM

I just did a quick search, but this article talks about all the transaction fees, etc:

http://www.creditsesame.com/blog/siz...id-debit-card/

trynagetlaid · 03-11-2012, 09:10 AM

Credit unions are the only way to go. The only fees are when you buy checks, and that's not really a fee, it's money exchanged for merchandise. And I haven't written a check in 2 years. I just keep a box of checks for emergencies.

There has been a mass migration from banks to credit unions as banks keep raising fees and adding new ones.

slowmover · 03-11-2012, 09:39 AM

http://theapprovedcard.com/fees/

pyramider · 03-11-2012, 11:05 AM

Quote:

Originally Posted by trynagetlaid

Credit unions are the only way to go. The only fees are when you buy checks, and that's not really a fee, it's money exchanged for merchandise. And I haven't written a check in 2 years. I just keep a box of checks for emergencies.

There has been a mass migration from banks to credit unions as banks keep raising fees and adding new ones.

Also the credit unions are more actively granting loans than the bank.

guest061212-1 · 03-11-2012, 01:05 PM

We love you anyway, Kayla. Keep bring us your cool finds. Trapcall was a good one.

Fort Worth Punk · 03-11-2012, 03:01 PM

Quote:

Originally Posted by LovingKayla

The reporting takes 18 months and then yes she did say, they would decide if it went toward.

The idea of debit card and similar transactions being used in credit scoring is presented as a way of helping people with little or no credit, but it would be codifying something some card issuers have been accused of doing that is kind of troubling.

They have argued that shopping habits, especially where you shop, are reflective of risk so they could, for example, determine that if you shop at Wal Mart you are a greater risk than if you shop at Target. I'm not really sure we want that kind of thing affecting approvals and rates.

LovingKayla · 03-12-2012, 10:19 AM

Thank you for the links. Today is the first day I've had an actual computer to sit at. Surfing on the phone is super pain.

pmdelites · 03-12-2012, 03:24 PM

Quote:

Originally Posted by Daen1304

I do not like Oprah. The more I find out about her the more she appears to be a lieing cold hearted bitch. Now I don't have a problem with that, but when she is trying to have caring, family orientated image then it is hypocritisim. And that I have a problem with. Pretty sure her show took off because she used it to empower women during a time when it was needed. If it wasn't for the people that already pointed out that the card is not a dream come true I would advice throwing that thing under a microscope. The whole deal sounds too good to be true.

this thread is about Suze Orman's new debit card, not oprah winfrey.
tho' Suze does have a column in the O magazine.

pmdelites · 03-12-2012, 03:30 PM

Quote:

Originally Posted by slowmover

http://theapprovedcard.com/fees/

pretty damn clear to me, imo.

but, while she's pretty smart about money [again, imo], she can be pretty pushy. like this line on the approved card site ...
"Only $3.00 a month if you use it how I tell you to" (emphasis mine)

hey suze, how about "if you use it according to my guidelines"

and this is a pretty clear page...
http://theapprovedcard.com/howitworks/

and this is a pretty reasonable statement, imo.
"It is my hope that this data sharing will show that responsible use of The Approved Card can help predict those who deserve credit for managing their money well and spending responsibly.
...
The Approved Card is not designed to improve your credit record, history, or rating. Use of The Approved Card will not and cannot improve or fix your credit score or rating."
from http://theapprovedcard.com/whychoose...creditproject/

in any case, it seems pretty reasonable to me for use by someone who cant get a credit card or open up a credit union acct but needs a simple debit card.