Justin Bieber has signed a $3.75 million yearlong deal with SpendSmart to launch a debit card aimed at teens. Remember when The Kardashian’s did something like this and it ended in tears?
According to the NY Times, so it must be true:
SpendSmart fees include a monthly fee of $3.95; loading fees of $2.95 from a credit card or 75 cents from a checking account (a single scheduled monthly automatic payment from a checking account is free); $1.50 to withdraw from any A.T.M. (in addition to A.T.M. surcharges), and 50 cents for an A.T.M. balance inquiry; $7.95 for a replacement card; and $3 for 30 days of inactivity.
Justin says he grew up without a lot of cash and wants his fans to learn how to budget – only Justin Bieber is actually benefitting here – to the tune of $3.75 MILLION.
What would Suze say?
