Consumer Payment Card News

Hot or Not: Celebrity-Backed Credit Cards

The jury may still be out on whether or not celebrity-endorsed credit cards and debit cards are worthy of being in existence. Some of the celebrity-backed cards turned out to be big flops in the grand scheme of their offerings, terms and conditions, and general reputation.

Just one recent example, the Kardashian Kard came and went even more quickly than Kim Kardashian’s blink-of-an-eye marriage to Kris Humphries, which crumbled in a matter of 72 days. The Kardashian Kard lasted from November 6 till the 29th, with its demise allegedly due to the exorbitant fees surrounding the card.

Here are a few other celebrity credit cards out there for consumers young and old:

MyPlash prepaid cards, featuring the Twilight Saga: Eclipse actors or a variety of music artists

These cards carry no fees for activations or purchases and no email or text alert fees. There is a monthly fee as well as reloading fees and ATM fees. These prepaid cards are one option if you’ve got your sights set on having a celebrity themed credit card.

The RushCard Prepaid Visa, backed by Russell Simmons

This popular card has been around since 2003, nearly a decade. Some fees are attached, such as purchase fees, monthly fee, ATM fee after two withdrawals in the same month, and balance inquiry fee. This card does not charge you to reload, which is probably a good thing since there are quite a few other fees already in place.

Personal Finance Expert Suze Orman Pursues a Prepaid Debit Card 

The well known Suze Orman joins the ranks of those offering a celebrity-backed credit or debit card, except she hopes that her cardholders will be able to build up their credit scores instead of suffering under mountains of fees. Orman’s proposed card will carry much lower fees than the other celebrity cards, just about even with the widely used Walmart MoneyCard.

It will be interesting to see what happens with Suze Orman’s card and any other celebrity cards that pop up over the next few quarters.

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