Get Your Malcolm X with a cameo appearance from Martin Luther King Jr. prepaid Mastercard/Visa cards
H/T La Femme Negrita
From Harriet Tubman sex tape to this, none of our heroes are sacred. Who knew Malcolm X’s and Martin Luther King’s images could be used to sell prepaid cards for Card.com and The Bancorp Bank? I didn’t know they died so that African-Americans could pay a $5.95 Monthly Maintenance Fee and a monthly $2.00 Paper Copy of Statement Fee to a major corporation. Those are the terms and conditions. For your information, if you go to a credit union you wouldn’t have to pay monthly a fee. Find a credit union here.
We all know that high interest prepaid cards and payday predatory loans have historically targeted African Americans, but this is so blatant. Why do they target African Americans? According to Black Enterprise magazine “NBC reports that more than 20 percent of African-Americans are out of the American banking system because they don’t have enough money to maintain an account.” Read the rest of the article here. For some, it is easier to load a card than to open a bank account or receive a credit card. With a prepaid card you do not need credit approval, you know the exact amount on your card, and you don’t have to go to a bank.
When Martin Luther King worked for the Poor Peoples Campaign, he did not work for this. When Malcolm X called for Black economic empowerment he did not work for this. I don’t know how the King or Shabazz families feel about this. Did they agree to this? What do you think?
By the way, if you are using a prepaid card or a predatory loan consider joining a credit union. Credit unions are a better deal. Credit Unions offer low interest products. Credit unions are member owned. You can open up bank account. A credit union is federally insured and you save will money using their services. Find your local credit union here. For free information on personal finance including financial planning, credit, debit, banking, retirement and estate planning go to usa.gov
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