Justin Bieber To Promote Teen Bank Card Scheme

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January 4, 2013 | 11:31am EST

Justin Bieber has inked a deal to promote a pre-paid bank card to his army of teenage fans.
The Baby star has signed up as the face of BillMyParents.com’s new SpendSmart card, a reloadable debit card which is aimed at teenagers and their parents.
Mike McCoy, chairman and CEO of BillMyParents, says in a statement, “In addition to his many musical talents, Justin Bieber is a smart, motivated and socially conscious artist who actively works to have a positive social influence on his tens of millions of fans worldwide. By combining our new teen prepaid debit card with Justin’s vast reach and financial educational materials, we can empower countless families with teens to think about responsible spending in a new and better way.”
Reality TV star Kim Kardashian and her sisters previously signed up to promote a similar scheme with MasterCard, but they terminated their contract following heavy criticism over the system’s hidden costs.
Bieber’s card features a monthly fee of $3.95 as well loading charges, ATM withdrawal fees and charges for balance inquiries. Users will also be charged if the card remains inactive for 90 days.