Kim Kardashian, is cashing out of her Kardashian Kard promotion after the debit card was exposed as an outrageous rip-off, leaving the reality star’s marketing prowess tarnished.
Reality sisters Kim, Khloe and Kourtney were stung by an avalanche of negative publicity after launching the card Nov. 10.
Connecticut Attorney General Richard Blumenthal said the card carried “outrageous” fees that unfairly targeted financially unsophisticated young adults.
The influential Consumers Union among other consumer advocates and financial experts also condemned the card.
The Kardashians, who have shown unusual marketing prowess, hawking everything from diet pills to perfumes and clothing lines, were slammed by the overwhelmingly bad publicity, and decided to abandon the card.
Their lawyer issued the following statement Monday:
“The Kardashians have worked extremely long and hard to create a positive public persona that appeals to everyone, particularly young adults.
“Unfortunately, the negative spotlight turned on the Kardashians as a result of the Attorney General’s comments and actions threatens everything for which they have worked.”
Only 250 consumers signed up for the card and can continue using it for 30 days, if they chose. They will receive refunds of balances and up-front fees, according to the statement.
Consumers Union, the nonprofit publisher of Consumer Reports and one of the nation’s most trusted consumer groups, is warning parents and teens about the card.
“There’s nothing glamorous about a prepaid card that comes with a bunch of hidden fees and other gotchas,” said Suzanne Martindale, a Consumers Union spokesperson.
It’s not the first time the reality TV personality has unabashedly profited off her fans.
Kim has been pushing a diet supplement pill and regularly swears in tabloid magazines that it has helped her lose weight — too regularly.
She seemingly gains the weight back, again, then claims to have dramatically lost it in another magazine.
Her sisters, Khloe Kardashian and Kourtney Kardashian have also gotten on the band wagon with similar claims.
Kardashian is also one of several celebrities who are cashing in on their loyal Twitter fans by spamming them without their knowledge.
Advertisers pay her up to $10,000 per tweet to mention their product to her 2.7 million Twitter followers.
Kim, however, does not disclose that she is being paid to push the product.
But those dubious deals pale by comparison to her latest money-making bid.
Kardashian started pushing a pre-paid MasterCard, or Kardashian Kard, calling it a “fast and convenient way to manage money.”
But the cards, emblazoned with Kim’s ample cleavage, come loaded with fees.
To make matters worse, the cards don’t have any of the consumer protections that regular credit cards must offer by law.
“Don’t try keeping up with the Kardashians by falling for this celebrity-hyped prepaid card. There are more affordable and safer options to managing your money and paying with plastic,” said the consumer group.