Parents might start really hating Justin Bieber for this move!
Sure, they might not like that their little ones look up to a teen singer who’s fond of tattoos, running around shirtless, having the occasional alcoholic beverage and perhaps some sizzurp, but getting kids hooked on debit cards might be the final straw!
Especially when those debit cards come with some hefty fees.
The Biebs has reportedly signed a big bucks deal with BillMyParents to promote their teen-focused debit card SpendSmart.
How big bucks you ask? $3.75 million for a 14-month contract plus some cushy royalties and more!
And what do the parent and teens get in exchange?
The prepaid debit card comes with a WHOLE LOTTA charges that include a monthly fee of $3.95, charges to add money onto the card ($2.95 from a debit or credit card and $0.75 from a checking or savings account), a lost card replacement fee of $7.95, ATM fees of $.50 per balance enquiry, $1.50 for withdrawing cash every time, and a $3 charge if the card inactive for 90 days.
And you know most teens aren't smart enough to avoid those pricey charges!
But hey, maybe the Biebs will lend some of his $3.75 million to pay off those fees.
[Image via Nareyek/WENN.]