The show “Keeping Up with the Kardashians” was popular but that did not save the Kardashian family from the credit card mess that they found themselves involved in. A debit card tied up with this reality show family has been recently cancelled. Kim, Khloe and Kourtney were sponsoring this credit card. This was cancelled in response to an accusation made by a Connecticut Attorney General Richard Blumenthal. The attorney general complained about the exorbitant fees that was being charged and the possibility of financially unaware teenagers falling into the trap. According to Blumenthal, the fees for the cards would reach approximately $100 a year, apart from the various other charges for using the ATM, cancellations,speaking to an operator and automatic bill payments.

250 consumers have bought the MasterCard branded as “Kardashian Kard”, which was launched on the 9th of November, and according to the University National Bank these customers might use it for another 30 days.  After the expiry of this period, their balances and up-front fees would be refunded. The St. Paul based company has mentioned that they are trying their best to ensure hassle-free refund of all the fees. Pamela Banks, senior policy counsel for Consumers Union in Washington D.C. says that cards tied up with celebrities are becoming increasingly popular. She says that when celebrities are associated with credit or debit cards, people opt for the cards as they aspire to be more like the wealthy and the famous. Pamela Banks also adds that these celebrity tied-up cards most often have much less protection mechanisms than the traditional cards and run a high risk of having hidden fees.

Sampurn Wire

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