What is the pros and cons when it comes to using the rubber mulch?

doesn't mulch and last a very long time/doesn't mulch to feed your plants

I hope this helps you make a decision as to whether or not you want to use rubber mulch as opposed to bark or anything else:

http://homeguides.sfgate.com/rubber-mulch-pros-cons-39065.html

Are you using for planting beds or under swing set or play areas?

Rubber mulch holds heat. you will need to keep that in mind. Since rubber doesn't degrade quickly it lasts a very long time.

Please read this horror story about rubber mulch before you install it.

http://grilloservices.com/grillo-blog/buying-or-have-rubber-mulch-learn-the-dangers-of-this-seemingly-innocent-product/

Tires contain carcinogens that are released when sunlight hits it as gases... According to the EPA, benzene, mercury, styrene-butadiene, polycyclic aromatic hydrocarbons, and arsenic, among several other chemicals, heavy metals and carcinogens, have been found in tires. Studies have found that crumb rubber can emit gases that can be inhaled.