Pop-financial advisor Suze Orman doesn't suffer fools gladly. Nor does she suffer Kardashians peddling sketchy prepaid debit cards, apparently. Helaine Olen at Slate reports that on Tuesday, Orman implored the Kardashian Kartel--that would be sisters and reality-show stars Kim, Khloé, and Kourtney--to stop hawking the Kardashian Kard (this is actually how they spell it). "There is no way they knew that the card was such a rip off for the kids they want to use it," Orman wrote on her Facebook page. "Come on gals pull it off the market and put your name or image to something that is great."
What's so bad about the Kardashian Kard? Annie Lowrey explained in a thorough post at Slate last week. With the Kard, there are "more fees than the Kardashians have reality shows":
First there are the upfront costs. For a six-month card customers pay $59.95, or $99.95 for a 12-month card. (The median fee for similar, non-Kardashian-festooned products is $10.) After those six or 12 months, there is the $7.95 monthly fee to keep using it. Users pay a $1.50 fee to withdraw cash at an ATM and a $1 fee to check their balance. They pay $1.50 to speak with a customer service representative. If they lose their card, they have to pay $9.95 to replace it. If they want to cancel their card, they have to pay $6.
Olen adds that "what makes this new product so insidious is that it is being marketed to teenage girls, a group that's likely to ignore the financial fine print in order to carry something with the Kardashian imprimatur in their wallets." Hence Orman's plea for the Kardashian women to rekover their integrity and kwit peddling the Kard. "Here's hoping Suze keeps the pressure up," writes Olen. To which the Wire would only add: K.
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