Either The Sisters Kardashians have a tough time with criticism or they’re quickly learning that a prepaid debit card
card that charges a $99.95 annual fee, a $9.95 purchase fee, and monthly fees of $7.95 isn’t exactly the best way to wiggle their ample bosoms into the good graces of consumers.
Kourtney, Kim, and Khloe Kardashian are seeking to nullify a deal with MasterCard that sells prepaid debit cards under their name after the charge cards came under attack for excessiv fees. On Monday, an attorney for the sisters sent a letter to parties affiliated with the card demanding that they stop using the names and images of The Kardashians to promote the product.
On Saturday, Connecticut Attorney General Richard Blumenthal warned holiday shoppers that purchasing the Kardashians’ debit cards for children is a bad financial choice for parents and possibly illegal. The Kardashian Kard, which launched last month, is aimed at young adults 18-34, the same group that watches the sisters’ hit E! docu-soaps Keeping Up With the Kardashians and Kim & Kourtney Take New York. It’s a prepaid card, which features a picture of the three Kardashian sisters, where users can put money on the card, which is then used like a debit or gift card. Unlike most debit cards that have low or no fees, these prepaid debit cards tack on a fee of $59.95 dollars for six months and almost $100 for a year.There’s also fees for ATM withdrawals, cancellations and talking to a live operator.
The fees are “outrageous,” Blumenthal said in a warning to parents. In a letter to University National Bank, which issues the card, Blumenthal said he’s disturbed that the high fees appealed to “financially unsophisticated adults.” He warns that the card could raise “considerable ethical, and perhaps legal, questions under Connecticut’s consumer laws.” Blumenthal’s even investigating whether the Kardashian Kard violates the Dodd-Frank Act, implemented to protect consumers from abuse by the financial services industry.
“In reality, no family can ‘Keep Up With The Kardashians’ using this card,” the Attorney General wrote.
