Consumer Payment Card News

Kardashian Kard is Dead

Three weeks too late, the “Kardashian Kard” is finally no longer available…which launched 3 weeks ago. Aimed at young adults and fans of the TV show, “Keeping Up With the Kardashians,” the Kardashian sisters announced they will no longer promote the prepaid debit cards and are cutting ties with the venture having sold the product under the Kardashian name. This after having launched the debit card November 10th with much fanfare, and the subsequent scrutiny for its exorbitant fees led by Connecticut Attorney General Richard Blumenthal. Blumenthal is seeking to investigate the program for state law violations to protect consumers. Having been referred to as “predatory,” the “Kard’s” ‘gotchas’ include plan options, which gave you the option to either sign up for a six month plan for $59.95 or a 12 month plan for $99.95, the former of which covered the $9.95 purchase fee, $5 minimum deposit, and the $7.95 monthly fee for the duration of the plan while the 12 month plan is identical except it included the $7.95 monthly fee for the full year. After the initial six or 12 month purchase period for the Kardashian Kard expires, you were required to pay a $7.95 monthly fee for as long you use the card while cancelling it would cost you another $6 fee; you were subject to a $1.50 fee for withdrawing funds at an ATM on top of the ATM surcharge; a $1 fee if ATM or POS transactions are declined; a $1 fee to check balances at ATMs; a $1.50 fee to speak by phone to a customer service representative; $9.95 to replace a lost or stolen card; and if you contact the card issuer about a lost or stolen debit card within two business days, your liability is limited to up to $50 (or up to $500 if the consumer reports the debit card lost or stolen after two business days). The list of charges and fees goes on, but thankfully this Kardashian mistake is no longer a risk to you or your little Kardashian-ites. If you did buy into the fanfare associated with the card, don’t worry; you will be given a full refund.

Leave A Reply