This train wreck is almost unbearable to watch.
Suze Orman, “internationally acclaimed personal finance expert,” is hustling her thing called the Approved Card. But she doesn’t seem to know what kind of card it is.
The fabulous expert showed up in fabulous Manhattan to talk to Lucy Danziger, the fabulous editor of SELF, the fabulous magazine from the fabulous Condé Nast. Danziger, who describes Orman as “the smartest woman about money in perhaps the world” asked, “Is this a credit card?”
Looking annoyed, Orman replied, “No! It’s a debit card!”
Moments later, holding up the card for effect, she said, “It is possible that in 18 to 24 months from right here, a debit card will be deemed to generate a FICO score.”
As the chatterboxes signed off, Danziger said, “And, good luck with your credit card!”
Wagging her finger, Orman yelled, “Debit card!” and gave the camera a stupid look.
Danziger yelled back, Oprah-style, “Debit card!”
Orman hollered, Oprah-style, “Actually–my prepaid card!”
The yelling stopped as they realized what a mess they were making, and Danziger said, soberly, “Good luck with your prepaid debit card.”
Orman replied, deadpan, “No, just prepaid card.”
Ugh.
The worst thing about the interview, however, beyond the credit/debit/prepaid knuckleheadedness (or the bad audio– it isn’t your computer), is that the smartest woman about money in perhaps the world repeated this, now preposterous, urban legend:
“Employers are starting not to hire you if you don’t have a good credit report and a good credit score.”
The consumer reporting agencies do not provide credit scores for employment purposes.
Excellent journalist that she is, the editor just said, “Interesting,” swallowed it whole, and let the blowhard continue.
Su–ze — Or–man — just — won’t — shut — up — about it.
And, if you give her any guff, she’ll call you an idiot.
Bring it.
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UPDATE 2/3/12
Here’s the new video, with the part about employers using credit scores (since they are not) edited out: