Radio host Tom Joyner backs new prepaid card

NEW YORK (AP) — Syndicated radio host Tom Joyner, a popular figure in the black community, is lending his voice to a prepaid card.

The move is bound to raise eyebrows because celebrities have come under fire for backing high-fee cards marketed to low-income groups.

Prepaid cards function much like debit cards, but aren't tied to bank accounts. Users can load the cards with a desired dollar amount and reload them as needed.

Unlike some other cards on the market, Joyner says his new Reach card has just three clearly disclosed fees: a $9.95 activation fee, an $8.95 monthly fee and $2.50 ATM withdrawal fee.

The Reach card should cost about $120 a year for most users, according to PreCash, the company issuing the card in partnership with Joyner.

The radio host today began reading ads for the card on his morning show, which reaches 8 million black listeners a week in more than 100 markets.