Monday, February 13, 2012

Suze Orman's new "Approved Card" avoids smackdowns, aims to help people build credit scores without credit cards, auto loans or mortgages

Suze Orman, “the personal financial planner for the whole World”, has been advocating use of the “Approved Card”, which is a prepaid debit card, link here. Orman hopes that in time the major credit reporting companies and credit scoring companies (Fair Isaacs FICO, Vantage) will consider the use of the cards (favorably) in calculating a credit score.

Jennifer Tescher, on “Bank Think”, gives a detailed discussion of Orman’s card and ideas, here

And the Oprah Magazine has an article in the Feb. 2012 issue, here. I have to admit, I need to check out how Oprah is doing with her new channel for my TV blog, and will do so soon. 

Suze Orman recently explained her new card on Anderson Cooper's daytime show. 

I should add, that I have a "normal" Bank of America debit card and have not yet run into any security problems.  I do have a maximum daily withdrawal limit from it, for personal security.

Note: There is a discussion of the new concept of "data lockers" on "BillBoushka" site Tuesday Feb. 13.

Suze Orman's book "Women & Money" is reviewed on my Books blog, Feb. 14, 2008.  It had been offered on the Oprah Winfrey show that month. 

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