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Kardashian Kard is cancelled after sisters want out

30

November

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A day after Kim, Khloe and Kourtney Kardashian had their lawyer send a letter to Mastercard to have their name and images yanked from the high-fee Kardashian Kard, the company announced they are taking the plastic off the market. Indeed, it would be difficult to have a Kard if there were no Kardashians involved.

Forbes says the prepaid debit card, which has been roundly criticized for its sky-high usage and maintenance fees, was pulled Tuesday after the family asked Monday to no longer be involved and amid a possible investigation by Connecticut Attorney General and Senator-elect Richard Blumenthal into whether the card violated that state's laws. I am deeply disturbed by this card’s high fees combined with its appeal to financially unsophisticated young adults," Blumenthal said in a letter sent Friday to University National Bank.

 

For a prepaid debit card, consumer sure did a lot of pre-prepaying: $9.95 to buy the card, $99.995 for the first year, a $7.95 monthly fee, $1.50 for ATM withdrawals, $2 per item for automatic bill pay, $1 to make a deposit, $1.50 to speak with an operator about your account and even $6 just to close the card. Thankfully, only about 250 people were big enough suckers to buy the thing since its release on Nov. 10.

[Photo: Getty Images]

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[Last modified: Tuesday, November 30, 2010 2:29pm]

    

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