Lil Wayne Launches Young Money Prepaid Discover Card
It looks like Lil Wayne is getting in the credit card business. The Young Money CEO has teamed up with ACCENT InterMedia to establish the Young Money Prepaid Discover card. The plastic is designed for people who are seeking out alternative ways of banking and requires no credit check.
The card was developed by Horace Madison, founder of Madison Strategic Integration and business manager for Lil Wayne and Young Money, along with credit specialist Buddy Smith. "We're excited about giving people who may not have access to traditional banking accounts the convenience of plastic," Madison said in a statement. "Wayne wants to keep it simple and sleek, but load it with benefits that are meaningful to Young Money cardholders."
The Young Money prepaid card boasts six fee types, including a $6.95 card purchase fee (with $3.95 monthly maintenance fee thereafter), as well as ATM withdrawal fees, lost/stolen card fee, statement fee and a reload fee.
Whew, that's a lot of fees! While we are all Young Money fans here, we have to stress that fandom and finance don't mix. So educate yourself before you purchase this card or any other celebrity prepaid card -- and make sure you read the fine print.
If you are interested in the Young Money Prepaid Card program, then go to youngmoneycards.com. A portion of the proceeds from every card sold will benefit Lil Wayne's non-profit organization One Family Foundation and other charities.