Kardashians Cancel Credit “Kard”

After not-even-a-month on the market, the Kardashian sisters have abandoned their prepaid debit card, the “Kardashian Kard.”

The cancellation plans come after the Connecticut attorney general announced he was investigating whether the card is in violation of consumer protection laws with “predatory” fees.

The notice of termination letter says “that the Kardashians ‘have worked extremely long and hard to create a positive public persona,’ and are recognized as ‘honest, ethical, and fun-loving individuals who are kind and caring to others.’ Because the card might violate certain laws, rules, and regulations, Dash Dolls (apparently what the sisters call themselves as a business) “terminated the agreement in its entirety, effective immediately.”

The card, and in turn, the sisters, came under fire when it was revealed that the card came with steep fees of upwards of $100 a year, plus fees for ATM withdrawals, cancellations, and even talking with a phone operator. All of that seems relatively normal, but the card also carried deposit fees of $1.50, to be charged anytime someone added money to the card. Getting charged for adding money? Yikes.

The Kardashians’ lawyer, Dennis Roach, said, “Unfortunately, the negative spotlight turned on the Kardashians as a result of the Attorney General’s comment and actions threatened everything for which they have worked.”

University National Bank said that the 250 customers who bought the MasterCard-branded “Kard” since its November 9 launch would be able to continue using the card for 30 days, and thereafter would receive refunds of both balances and up-front fees.

Tags: ,
Categories: Deals and Finances | Other

Actions: E-mail | Twitter | Facebook | Comment RSSRSS comment feed