(Hip Hop DX) Hip Hop mogul-turned-philanthropist, Russel Simmons’ latest endeavor, the debt-reducing Visa RushCard, recently hit the two billion dollar deposit mark in a time when more Americans than ever can use the extra help. Simmons’ RushCard is a prepaid Visa Card, similar to a debit card that allows people with bad credit to have the same opportunities while building up good credit.
"I'm personally very happy that RushCard is benefiting and empowering people exactly as it was intended," said Simmons.
The card allows members to track their transactions online while including debt reducing strategies and restriction to prevent over drafting or over use.
"In America today, no one should be left out or kept out of having access to the American Dream and financial services which a bank account or credit card provides to others. The fact that we have already helped our members manage $2 billion in transactions proves that RushCard is instrumental in providing access to those services that hundreds of thousands of people may not otherwise have.”
With the success of the card only five years after it was introduced, Simmons has added new features to the program to increase the chances of success. The online Spend Tracker and the RushPATH to Credit are new programs that make it possible for users to report their regular payment history to participating consumer credit reporting agencies while still easily tracking expenses.
Simmons expressed hope for the future saying, "As we celebrate this major accomplishment, we look forward to the day all Americans have the financial access and dignity they deserve.”