Justin Bieber has inked a multi-million dollar deal with BillMyParents – a new company targeted at teens who want to control their spending money. The 19-year old is being paid $3.75 million for a contract that’s just over a year long which will see the singer promote their new SpendSmart prepaid card, which have been said to be very popular among 16-year old people and above.
The only problem is that the charges these kind of prepaid debit cards have are pretty pricey for someone who is not even an adult yet – no youngster wants to be dealing with fees such as owning the card itself for a year costs $50, up to a $3 charge when you want to place money onto the card, $8 for a card replacement, 50 cents for a cash balance enquiry at a local ATM and $1.50 every time cash is taken out.
If Bieber cared that much about his fans, he would know that these prepaid cards are way too expensive for a teenager to use; the charges that have been put in place could see an average kid lose up to $150 annually if they were to set up one of these cards for themselves. And knowing Justin’s fan base, a lot of people will end up getting themselves one without knowing the hidden costs behind it.
While the company guarantees that owner of the card will be able to manage their cash safely and responsibly, the pricey tag on them could upset a lot of Bieber’s fans who are so used to buying anything he puts his name on. “It is a good thing and part of parenting to teach kids how to manage their money responsibly, but there are different ways to go about it,” Michelle Jun told FOX411’s Pop Tarts column.
Justin — were you just tempted to sign the deal because of all the money you were promised to get from it?
Image credit: ImageBuzz/FAMEFLYNET PICTURES