Bankruptcy

So now the Kardashians Are Financial Role Models?

By Nathalie Martin

That?s what you might think if you heard and believed the buzz about the new Kardashian card, a pre-paid Visa card representing all the glitz and glamour as the sisters themselves. But let?s not forget the demographic for pre-paid cards, or the cost of the cards. Demographics? Tweens and those who can?t get a reasonably priced checking account with a debit card attached. For parents  with no concern for the dollars and cents, the Kardashian card might be a good deal, that is, if you don?t mind shelling out the high cost to get started, $59.95 (which includes fees for the first six months); the $7.95 monthly fee thereafter; and the $2 per item charge when paying bills. You?ll also get dinged up to $2.50 for every ATM withdrawal and $1.50 for every call to the service center. If the kid really wants to look cool, and you consider this a small price to pay for peace at home, go for it. For everyone else, including those in the other demographic that uses pre-paid cards regularly, namely those shut out of traditional banking relationship, I might suggest the green dot instead.

Full post as published by Credit Slips on November 23, 2010 (boomark / email).