Suze Orman, personal finance “extraordinare” has recently debuted a prepaid debit card called The Approved Prepaid MasterCard. Personal finance bloggers, including myself, were a little perturbed. Other celebrities including Russell Simmons and the Kardashians have been criticized for making a buck off of lower and middle class with these cards, so we didn’t quite understand why a finance guru such as Suze would be advocating a prepaid debit card. With its $3 monthly fee, fees for paying bills, fees from withdrawing from the wrong ATMs, fees for paper statements, fees for additional customer service, the list goes on. Sure, there’s some free things like opening the card and PIN transactions, but the fees outweigh the benefits. Seems as if she wants us to be mindless sheep and agree with everything she says.
Suze was making snarky remarks earlier in the evening that made me give the side eye. Things like:
@ read the great reviews of legit reporters or ones that are smart enough to understand what I am doing. There are many Suze haters
RT @: Can't believe @ is rolling out that weak $3/mo prepaid card. Expected from Simmons and Kardashians of the world.
@ @ if you want to think that you can. But ignorance as to the big picture here says more about you than me.
@ but u ar the only one who is going to benefit from this!!
@ you could not be more wrong if you tried.
@ prepaid cards are VERY PROFITABLE; and you are taking your authority figure to make a $$ from your audience. #DENIED
@ you again are just wrong. Shame on you.
@ @ Your card is no different than others that are on the market.
@ -Good grief i am reading all of these negative comments from people who just do not want people to succeed in general...
@ dont worry Aud. I can take it. I am use to people who know nothing think they know everything. You just have to pity them
@ My issue is that you, a giver of advice should never sell a card, no matter how good it is. It seems like a conflict.
@ It may seem that way to you kind sir- but it is MY card- I created the card- I am trying to change credit scoring with this card
Then I guess I stepped into the murky waters that is the Suze Orman Twitter feed:
I'm so disappointed @. Suze Orman's Pre-Paid Debit Card - The Approved Card http://t.co/6UfI5lXb via @
@ Too bad you choose to believe an idiot over me- you just keep following others and see where it gets you -
@ Yeah okay Suze lol That "idiot" has done a lot more for my finances than you have. Thank you @ for everything
@ @ @ Suze, why resort to words like "Idiot?" Why not promote what you think are benefits of yr card?
@ @ @ Wow. I'm speechless. Thanks, Briana and Glen.
Twitter went wild! PF bloggers came to the rescue and voiced their opinions, infuriated with someone we thought was a genuine person. Boy, were we wrong!
@ , Seriously Suze, why don't you just bleed the poor dry why you are at it..... @ @ @
So we're calling names now? rlly Suze? RT @: @ 2 bad U choose 2 believe an idiot ovr me-
@ WOW!! That's all I can say. This is disappointing indeed.
@ @ @ wow... I've admired Suze ever since her Young Fabulous & Broke book. Feel a little disillusioned now.
@ @ @ and not because of the card, but because of her response.
@ @ @. Suze just took the gloves off an put vaseline on her face.. It's about to go down!
@ Not that I disagree w/Schütte, but is he or his VC firm an investor in the card or just in the unbanked industry? @
"you just keep following others and see where it gets you" @ It would get @ ahead by $3 a month using a no-fee card
Dave ramsey is the one to listen and follow....hands down! RT @: @ So do (cont) http://t.co/jFz4gIHG
@ I love how she says "keep following others..." but doesn't she want the world to follow her? so what's the diff?? :-/
@ pretty sure she is a troll...along with any person she hires to manage her SM
@ @ @ @ Same here. The way she's handling the situation is crazier than the card debate
Safe to say it was an eventful, and unfortunately eye opening night. After reading the tweets, what do you think? Don’t just take my word for it; I’m willing to give Suze some much needed link juice for her poor debit card’s website, The Approved Card. If you feel as strongly as I do, share this post with the hashtag #denysuzecard!
Update! 1/11/2012
You know how Suze basically implied bloggers aren’t “legit reporters”? Well, she even insulted one of those too. Ron Lieber, New York Times money scribe (and Verified by Twitter) also got a taste of Suze’s nasty medicine:
Hi @ Insulting me & others makes u seem small. Odd, given the big deal ur product is. As I said in the NYT, I hope you succeed.
Also @ fwiw, you called *yourself* profit-motivating. From tape: “I'm not somebody who believes making money is a bad thing.”
@ Ron- I would never insult YOU- you are a great reporter and I admire the piece that you did- it was honest and thorough! Sorry
.@ Ur apology=inaccurate. Never insult? "Ron Lieber, I wud take good look in mirror b/c something isnt quite right w you sir."
@ I admit that I was wrong- I am sorry RON
Ron’s article can be found at the New York Times. After Ron got his apology, we all got one, including Phil!
Interesting that @ is the only one @ sees fit to apologize to. 2 apologies for Ron, zero for anyone else.
For anyone I called an idiot I too am sorry. I should have known better. That never should have happened so again I admit that I was wrong
@ What about @ or he doesn't a specific apology because he doesn't write for the times?
@ @ Even you PT-- I am sorry I admit that i was wrong.
Feel free to leave a link to your Approved Card review in the comments:
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About Briana
Briana is the head blogger and founder of 20 and Engaged. She's a 21 year old newlywed, psychology student, and freelance writer.
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