Rush Card Problem & Building Credit with Sussex County Federal Credit Union – Monday, Nov. 2, 2015
Rush Card blames new technology for this issue. Many of their customers are mad and are asking Rush Card where their money is. Rush Card Founder, Russell Simmons, says any customer who had to pay late fees, or had any other major financial setbacks because they could not get their money, will be compensated.
- Began in 2003
- 1.5 million people have one
- Monthly fee is $9.95 per month
- $1 fee for pin transactions
Credit experts also warn that these cards are often targeted by scam artists. The Federal Trade Commission reported nearly 85,000 complaints nationally about fraud involving the prepaid cards in 2013, totaling almost $43 million.
Sussex County Federal Credit Union gives tips on how to get our of credit card debt:
- Average household has $15,000 in credit card debt
- Average interest rate: 13%
- Used more than 30% of credit
- Consider extra payment
- Transfer high rate cards