Buying Kardashians’ debit cards ‘a bad financial choice’

NEW YORK - Connecticut Attorney General Richard Blumenthal has warned that purchasing the Kardashians’ debit cards for children is a bad financial choice for parents and possibly illegal.

The reality show stars are spokespeople for a debit card tied to their reality show ‘Keeping Up With The Kardashians’ as well as ‘Kim and Kourtney take New York’.

It’s a prepaid card, which features a picture of the three Kardashian sisters, where users can put money on the card, which is then used like a debit or gift card.

Unlike most debit cards that have low or no fees, these prepaid debit cards tack on a fee of 59.95 dollars for six months or almost 100 dollars for 12.

There’s also fees for ATM withdrawals, cancellations and talking to a live operator. And those fees are “outrageous,” said Blumenthal in a warning to parents.

In a letter to University National Bank, which issues the card, Blumenthal said he was disturbed that the high fees appealed to “financially unsophisticated adults.”

“In reality,” no family can ‘keep up with the Kardashians’ using this card,” the New York Daily News quoted him as saying in the letter.

He warned that the card could raise “considerable ethical, and perhaps legal, questions under Connecticut’s consumer laws.” He also said the Dodd-Frank Act, implemented to protect consumers from abuse by the financial services industry, prohibits such practices. (ANI)