It’s been a long time, I shouldn’t’ve left you. . . yep shouldn’t’ve. I’ve always been a fan of pointing out obvious errors and idiotic moments that most people miss.
So imagine how I felt the first time I heard about the prepaid Visa card, or as it is better known by my constituents as, “The Rush Card.”
For those of you who don’t know what a Rush Card is, it is a Prepaid Visa card endorsed by Russell “Def Jam” Simmons. What exactly does it do? Well, I’m glad you asked.
The Rush Card allows you to put your money on a card so you can have access to it whenever you need it and it’s better than a bank account because you can only spend what you have on the card. Also, it allows you to avoid those pesky check cashing fees if you go to a check cashing place. You can even get your check direct deposited onto the card! It’s better than a credit card there are no nasty interest rates!
But wait, this sounds too good to be true. What’s the catch? Ohhh, the fees.
Ok, here’s a rundown of their monthly access plan:
Activation Fee: $3.00; Monthly Fee: $9.95; Transaction Fee: $1.00 for each time you enter your pin, $0 for credit transactions; ATM withdrawal fee: Two (2) FREE each calendar month. $2.50 for each ATM withdrawal after first two (2).
Umm, what’s the difference between this card and a bank account? No credit check. That’s the main selling point. But when was the last time you or anyone you know got denied for a checking account for bad credit? The only way this happens is if you have had accounts at every bank in town and overdrawn them, then decided not to pay them back. If that’s the case, I understand why you can’t get a checking account. You really don’t deserve to be trusted with anything at that point.
But most major banks have FREE CHECKING ACCOUNTS! These accounts have nominal fees if any at all. I mean. . . I got a bank account and I didn’t pay an activation fee nor do I pay a monthly fee. If I go to my bank, I pay no withdrawal fees. And I don’t pay a fee for using my debit card as a debit card.
So here are my real issues with this P.o.S. I saw the commercial for this card on BET. I’ve heard the commercial for this on every urban station in my listening range (Hot 97, Power 105, Power 99, etc.). I have yet to hear it on Z100 or Wired 96.5. I’ve never seen this commercial on MTV or VH1 EVER. This fact leads me to the conclusion that this “product” is aimed at a certain demographic: young urban youth, a majority of which are of African or Hispanic descent.
Oh Russell, you’re an asshole for this one. You are now bankrupting the community you claim to love. Just taking our money with no remorse. But then again, can I blame you? You might just be a puppet, a figurehead to appeal to the demographic that will use this product. Like Chris Tucker said in Rush Hour 2, “Behind every big crime there’s a rich white man waiting for his cut.” This is a crime of epic proportions, in my humble opinion.
Not everyone can be financially literate, but I still wish for that day. In the mean time, we should all have common sense, Like Water for Chocolate. Russell, if you were that hard up for cash, you should have compiled a “Def Jam’s Greatest Hits” album, hell, even an series of albums like the “Body & Soul” collection. I would order that from an infomercial. What happened with Phat Farm? I loved that line. And I know you still get a cut from anything Kimora does. You were her launching pad, and someone as business savvy as you wouldn’t let her divorce you without getting a chunk of that Baby Phat machine.
People, since corporations will continue to try to rape folks who don’t know any better for their little bit of cheddar, please sit them down and teach them before they give these legal con-artists another dime.