Credit repair after getting banned by banks and credit cards has people knocking down the doors to get music-mogul, hip-hopster & entrepreneur Russell Simmons’ popular “RushCard.”
Simmons’ company, UniRush Financial Services of New York, offers the RushCard, a prepaid Visa debit card for the “unbanked”– that is, for people who can’t (or won’t) get checking accounts or credit cards.
Can you believe 70 million Americans don’t have access to checking or savings accounts, credit cards or debit cards?
…70 MILLION people are forced to live on cash…carrying cash…standing in line to cash a check and paying outrageous fees for the privilege.
The good ole days of stashing cash under the mattress sounds simple and effective, but we don’t live in the 1930s. Try to book a flight, rent a car or moving truck, or a hotel room with no credit card.
Living a cash-only life is not easy!
The check-cashing “convenience” stores charge hefty fees and force you to leave with a bull’s-eye on your chest by walking out of the store with cash. Cash is not cool…today!
It’s getting increasingly difficult to live on cash. No doubt, the RushCard is popular. Apparently, Simmons has signed up about 300,000 RushCard customers in 18 months. Whoa!
Yep, this card is popular…to say the least. After receiving many emails asking me about this card, I’ve taken time to compare this card to the “credit building” cards I recommend in my book and inside my “Credit-Success” membership site for restoring your credit FAST.
If the RushCard is good for you, I want to be able to recommend it…if it’s not good, I’m going to tell you, regardless of the celebrity promoting it.
Are you ready? Here’s the truth about the popular RushCard….
THE RUSHCARD EXPOSED
Okay, here’s my take on Simmons’ RushCard:
1. Applying for the RushCard is free. Cool!
2. The RushCard costs $19.95 to set up. Not bad at all.
3. There’s a $1 fee every time YOU make a purchase or write a check (capped at 10 transactions per month). Hmm.
4. Each ATM withdrawal costs $1.50 plus the fee — usually $1 to $2 — charged by the bank that owns the ATM. Not cool. Simmons needs to negotiate a network at the very least, to keep Rushcard users from getting squeezed EVERY time they use the card.
5. You can have your check directly deposited into your RushCard account. The card works and looks just like a bank debit card and can be used to make purchases anywhere that accepts Visa. Folks, it’s a DEBIT card! That’s it.
6. There’s no danger of bouncing checks or running up big credit-card bills because you can only spend as much as you deposit. Yep.
7. HOWEVER, the RushCard will NOT help your credit! Therefore, I will not promote this card. The cards I recommend MUST allow you to re-build your credit. Yes, all these cards hit you with high fees. This is unavoidable for the “privilege.”This is HUGE, and this one reason alone is enough for me to pass on the RushCard.
Do you have a RushCard? Do you want one? What do you think of this card? Or which secured cards have you tried? If Simmons really wants to help the “disinfranchised people shut out” of the credit world, then he can cut the fees and make this a CREDIT-BUILDING opportunity…not just an exploitative “RushCard.”
You have my unabashed review of Simmons’ RushCard. Now I want to hear from you. Drop me a comment, good or bad. If I’m missing something about this card, by all means plug me in. 
Credit repair after REJECTION requires you to read the small print and not just go with the celebrities promoting their cards. If Russell Simmons really wants to help people as he says he does, his RushCard would help you rebuild your credit scores.
Republished by Blog Post Promoter
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