Starting July 1, 2014, Suze Orman and Magic Johnson’s Approved card, a prepaid debit card aimed at budget-challenged consumers, will no longer work, according to a letter from Bancorp Bank, her partner on the product.
Bancorp is encouraging cardholders to spend all the money on their cards before that date. After that, it will send checks to people for any remaining balances. It is unclear exactly why Ms. Orman’s venture is ending.
Suze Orman is a award winning certified financial planner and author of several books including 'The Road to Wealth'. She went from being a waitress at age 30, making $400 a month, to now having her own TV show and a net worth of $30 million dollars.
