Tom Joyner Joins Prepaid-Card Business

By
Erin E. Evans
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The Fly Jock is now backing his own prepaid debit card. Calling it the Reach card, he says that unlike other prepaid cards with lots of undisclosed fees, his card has only three fees: a $9.95 activation fee, an $8.95 monthly fee and a $2.50 ATM fee, totaling about $120 a year for most users.

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From ABC News: The Reach card was designed specifically with Joyner's listeners in mind, said Mia Mends, general manager of prepaid debit for PreCash. "We don't assume all of them are unbanked or underbanked, but there's probably some overlap."

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Would you get a prepaid card from Tom Joyner? From Russell Simmons? From any celebrity? 

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Read more about Joyner's card at ABC News.

In other news: OWN to Reach Milestone Earlier Than Expected.