Most consumers won't be able to make both of these commitments, though, especially since there are a number of other options at their disposal. This, of course, brings us back to the aforementioned Amex and Green Dot prepaid cards. Under typical use, as described in Card Hub's Prepaid Card Report, the Mango card would cost $6.92 more per month as a financial literacy tool than the Amex card. It would cost $10.66 more per month as a replacement checking account than the Green Dot card.

Could this extra cost be warranted, though? What if you got better perks in return?

After a full examination of the offer, it's clear the only way the Mango Card's perks will outweigh its costs is if you take advantage of its 6% APY and carry a very high balance. Unfortunately, this strategy doesn't seem to be sustainable -- the 6% APY is a promotional offer and Mango can revoke it at any time. The only other notable "perks" that come with use of the Mango Card and have not yet been mentioned -- RentSafe renter's insurance and GoalMine investing services -- aren't really perks at all. They are available to people who don't use the Mango Card, and it's unclear whether Mango cardholders get any sort of discount or added services.

As a result, there's ultimately little reason for most consumers to choose the Mango Prepaid Card over other offers. It will leave your wallet lighter without giving you too much in return, and no one wants that. This makes you wonder whether Lopez's endorsement was driven more by personal financial gain than a desire to represent a product that will truly help consumers.

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This article was written by Odysseas Papadimitriou, CEO of Card Hub, an online marketplace for all types of credit cards, prepaid debit cards and gift cards.