Broadcast host Tom Joyner supporting a brand new card that is prepaid

Broadcast host Tom Joyner supporting a brand new card that is prepaid

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Tom Joyner Donna McWilliam, File, Associated Press

NEW YORK — Syndicated radio host Tom Joyner, a favorite figure within the black colored community, is lending payday loans New York their sound to a card that is prepaid.

The move is likely to raise eyebrows because a-listers came under fire for supporting high-fee cards marketed to low-income teams.

Prepaid cards work just like debit cards, but are not associated with bank reports. Users can load the cards with a desired buck reload and amount them as required.

An $8.95 monthly cost and $2.50 ATM withdrawal charge unlike several other cards in the marketplace, Joyner states their brand new Reach card has simply three demonstrably disclosed charges: a $9.95 activation charge.

The Reach card should price about $120 per year for some users, in accordance with PreCash, the business issuing the card together with Joyner.

The air host on Tuesday started ads that are reading the card in their morning show, which reaches 8 million black colored audience per week much more than 100 areas. That is significant because African Us citizens are more inclined to be unbanked or underbanked, meaning they avoid old-fashioned banking solutions in benefit of options such as for example check cashing and payday advances. (Pokračování textu…)

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