Jump The Shark – a term to describe a moment when something that was once great has reached a point where it will now decline in quality and popularity.
Today marks the day of Suze Orman’s newest venture, a prepaid credit card. This new prepaid card is being called “The Approved Card” one can only assume that the name came from the popular segment “Can I Afford it?” on The Suze Orman show that airs on CNBC on Saturday Nights. In this segment, callers ask Suze for her permission to spend their own money on a range of items from dance lessons to a trip around the world for $80,000. It appears this card is APPROVED without much discussion.
I have to be honest and say that Suze’s newest venture raises my eyebrows. As a whole Prepaid cards get a bad rap usually for the high fees that come along with them on spending your own money. Also because typically prey on those with lower incomes. We have written about the Pros and Cons before on here. They do have their place for some but for most a Checking Account and basic money management education will do the trick. Celebs putting their name on Prepaid Cards are nothing new. Just last year a popular reality show family caved under pressure and bailed on their Prepaid Card venture. Now Suze Orman throws her hat in the ring, America’s Money Teacher who boasts People first, Money Second then things. The same person that has preached conservative money advice for the last 15 or so years ventures into something that is not conservative nor known to be the best course of action for those who do not have the best financial foundation either because they are young or they have had trouble in the past.
So, you tell me has Suze Orman Jumped the Shark?
Andrea is the Chief Chick of Smart Money Chicks. After filing BK twice (once because she panicked, second time because the pro messed the first time up), she realized that it all could have been avoided if she understood more about how her Finances worked and the options available. At that point, she wanted to help as many as she could never make the same mistakes again. Our Promise is that all the content you read on here is created or edited by Andrea
Yup! She’s sold out big time and loses credibility with me. It’s just like when I went in the store and saw Jillian’s (from the Big Loser) weight loss pills…
Guess I won’t spend any more $ of her products. Thanks for sharing.
Makes you wonder if these celebs really THINK about what they’re putting their name on. Even if her handlers and agents secured the deal, as a smart business owner SHE should have the final say in what bears her name and SHE should believe in it wholeheartedly. Sounds like a bad mistake to me, considering she’s always been teaching people how to avoid more debt.
I think she has! I was disgusted to get an email from her this morning advertising the new card. “Only” $3 a month for the privilege of owning it (among other fees)! For someone who encourages people to make smart decisions, she sure is endorsing a crappy product.
I too am surprised that Suze would offer a credit card that would not be in the best interest of her followers (tribe).
I’m not sure I understand these kinds of cards but isn’t a pre-paid credit card just like a debit card and the user can only spend up to the limit that they have deposited on the card? Is that something different than a high interest pre-approved card? I am thinking that in the event of a pre-paid card, she might recommend something like that as a method of payment that would rebuild credit? I don’t know but I’ve loved Suze and I want to give her the benefit of the doubt. I’d hate to think she would do something so out of character. I’ll be following this so thank you for bringing it to my attention.
That’s interesting. On another program I watched over the Christmas Holiday I heard her say that everything she’s ever taught is now wrong. Dave Ramsey’s way is the way to go and she’s got a new book explaining it all.
I have no idea what she’s doing.