Justin Bieber, A Pre-Paid Debit Card & Your Kid
Undated -- Justin Bieber sings about blowing money. Your kids hear it and now the Justin Bieber debit card makes it a reality.
"I seen it on facebook and on my status, I put 'OMG something else to tempt my daughter to want'," says mother Patricia Frausto.
Of course her daughter Angel wants the new pre-paid debit card with Bieber's picture on it! Her room is filled from top to bottom with his picture. But her mom have her a dose of reality."I think it would be nice to add to my collection but I think the fees would be too much", says Angel.
The Justin Bieber pre-paid debit card has a monthly fee of $3.95
Loading charges are from a debit card cost another $2.95, from a checking or saving account it's 75-cents.
If your tween loses the card a replace! ment card! is $7.95. ATM charges are 50-cents per balance inquiry and $1.50 for withdrawals.
On top of that, if the card is inactive for 90 days, you get charged a $3.00 in-activity fee. And there's more.
"I did my research and goes to a site called bill my parent, that was a huge red flag, I'm the one whose going to be paying for this."
Bill-My-Parents is a website that calls itself a responsible teen spending company. Soon, Bieberwill start promoting his "spend smart prepaid debit card" on social media, he'll produce videos that will highlight the need for responsible spending by teenagers
Which may lead to them choosing not to get the Bieb's card.
"A kid might realize, 'Hey I got hit with 18 dollars in fees and I only have 50 bucks on the card, maybe it's not worth it even with beiber's picture on it," says Mike Sullivan of Take Charge America.
Here's something else to remember, there are no government regulations or consumer protections on pre-paid cards.
Which means while your credit card company will reimburse you for unauthorized charges on your card, but that doesn't apply to this kind of card.
KPNX/WFMY News 2