‘Kardashian Kard’ for Kids Cancelled over “Outrageous” Fees
The short-lived Kardashian Kard is no more. The pre-paid debit card with a $2500 limit marketed to children as young as 13 has been canceled after receiving stinging criticism for its high fees.
Business Insider said it could possibly be “the worst credit card ever.”
Connecticut Attorney General Richard Blumenthal said the card charges “outrageous” fees: up to $100 for the card itself; $8/month; $2 to check the account balance or if an ATM withdrawal is declined; up to $2.50 per ATM withdrawal; even fees to speak with a live operator and to pay bills, among many other charges.
Blumenthal says the card is meant to appeal to “financially unsophisticated young adults.” What he means is children; girls as young as 13 who dream of living the lavish lifestyle they see the Kardashians enjoying on their reality show.
The issuing bank as well as the sisters themselves have now pulled their support from the ill-fated project just days after its launch.