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Justin Bieber Prepaid Debit Card Announced

7:38 AM, Jan 7, 2013   |    comments
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Justin Bieber performs onstage during Power 96.1's Jingle Ball 2012 at the Philips Arena on December 12, 2012 in Atlanta (Rick Diamond/Getty Images for Jingle Ball 2012)

WASHINGTON (WUSA) -- Raise you hand if you want a Justin Bieber prepaid debit card?

Teen-focused financial company BillMyParents says Justin Bieber will promote its new prepaid debit card on his social media platforms. He'll also produce videos about financial literacy for the company.

The 18-year-old pop star joins a long list of celebrities who have ventured into the multi-billion dollar prepaid card market, including the Kardashians.  But watch out:  these types of cards are often loaded with fees. 

The card has a monthly fee of $3.95. That works out to be about $50 a year. 

There are charges to load money on the card -- $2.95 from a debit or credit card or $0.75 from a checking or savings account.

If your kid loses the card, there is a replacement fee of $7.95.

At the ATM, there's a charge of 50 cents per balance inquiry and $1.50 per withdrawal.

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