TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Kardashians 'Terminate' MasterCard Deal

11/29/2010 6:30 PM PST BY TMZ STAFF

The Kardashian family has officially pulled the plug on the new "Kardashian Kard" -- a prepaid debit card backed by MasterCard -- over allegations that it's riddled with hidden, possibly illegal fees.

Kardashian MasterCard Kard

The family fired off a "Notice of Termination" to the companies behind the Kard moments ago -- stating they're sick of the "negative spotlight" since the Attorney General of Connecticut opened an investigation to determine if the Kard violates consumer protection laws.

The A.G. was concerned over several fees associated with the Kard -- which reportedly costs $9.95 to own ... plus 12 monthly fees of $7.95. It also costs $1.50 every time the owner wants to add money to the Kard.

In the letter, obtained by TMZ, Kardashian lawyers write, "The Kardashians have worked extremely long and hard to create a positive public persona that appeals to everyone, particularly young adults."

The lawyers claim the investigation "threatens everything for which [The Kardashians] have worked" -- so the family has decided to "terminate the agreement ... effective immediately."


102 COMMENTS

No Avatar
76.

JAN    

"The Kardashians have worked extremely long and hard to create a positive public persona that appeals to everyone, particularly young adults."

ARE THEY FLIPPIN SERIOUS???!!!! THIS TRASH FAMILY HAS GOT TO GO!!!

1332 days ago
77.

JAN    

#14.
Kym did not start a sex-tape trend, i think you're forgeting about the infamous Pamela Anderson and Tommy Lee tape! That sex tape was HUGE! ha, no pun intended.

1332 days ago
78.

Throwback kid    

I have a feeling the Kardashian tide is turning with the public and people see them for what they are, a family with no morals who are greedy and self absorbed. I wouldn't be surprised if next year they are like Paris Hilton is now, a washed up reality hasbeen.

1332 days ago
79.

Lets Be Honest    

Mama Kris knew exactly what the details of this card were when she signed the contract. KK worships the dollar and will do & screw anyone to get another dollar.

Useless trash of a mother that produced nothing but usless trash daughters.

1332 days ago
80.

HAPPYHAPPY    

KARDASHIANS I AM DISAPPOINTED IN THEM IT IS TIME FOR THEM TO LOSE EVERY DEAL AND NO MORE HOSTING PARTYS FOR MONEY AND BOYCOTT THIER SHOWS SO THEY CAN KNOW WHAT IS LIKE THEY ARE NOT A CLOSE FAMILY AT ALL KHLOE AND KRIS HATE SCOTT ITS ALL PLAYED OUT.

1331 days ago
81.

Celebrity Sucks    

Yeah, I almost puked when I saw they were coming out with a card.. but anything these people do makes me sick.

Wait, they have it wrong though. To BUY the card is 9.95. To have it for 6 months is 60 bucks, a year is 100 bucks. PLUS the 7.95 monthly fee, 1.50 to call customer service, 9.95 for a stolen/lost card, 1.00 to use the ATM plus ATM fees. 6 bucks to cancel...

WTF?

You want to pay 200 bucks for your cash????

Anyone who bought this (250 people is the word) would classify as a grade A dumbass. I hate our society. These people are worthless in the real game if life.

1331 days ago
82.

Let's Be Honest    

Mama Kris knew all the details about this card when she signed the contract. Its all about the dollar and she could care less on how she obtains a dollar.

Skank mother with skank daughters following in her footsteps. Such ugly people those Kardashians.

1331 days ago
83.

dsw    

How else did the K's think that they were getting paid?! Please go away.

1331 days ago
84.

Mystik    

Rushcard is GREAT - no NSF fees, helps build your credit and gets you away from Banks!

1331 days ago
85.

jwoolman    

Of course they knew exactly what the fees were. Kudos to the Attorney General for publicizing it and making it a PR disaster for them. If they really cared about "young people", they would promote decent debit card terms from normal bank accounts and use their stupid show to talk seriously about all the financial traps set by the banker vultures (another "very special episode" of Keeping Up with the K's). The fees are indeed outrageous no matter which bank is charging them.

A problem has been that the banks will accept charges on cards that are clearly over the limit, and then they can charge more outrageous overdraft fees. They don't have to do that, and credit cards used to never do that in the olden days (new regulations are forcing them to at least give people the option to say "no" to such deliberate overlimit acceptances). If the card transaction is simply rejected because of not enough funds in the account - no problem. The huge fees are being justified based on a manufactured risk that does not have to exist on a "pre-paid" card.

There is no reason in the world why a debit card should have such high fees. It's all electronic and costs the banks much less nowadays in staff to process than people who go to the bank to withdraw the cash from a teller. The banks use the money on deposit to make more money for themselves.

The kids are much better off just using cash, although the banker vultures now will even charge them for cashing a check drawn on an existing account at that bank (meaning that I can't just hand a check to somebody for work done if they don't have a bank account themselves). Why? Because they can. It's immoral and, as one friend points out regularly to the banker vultures every chance he gets, gouging the poor with what amounts to an outrageously usurious interest rate. Another friend who interpreted for a bankers conference said it was clear that the universal advice was to charge as high a fee for anything they could imagine to the people with less money and therefore less clout. They make exceptions for people with big bucks in the bank, since the big depositors just have to threaten to transfer their money to another bank to strike fear in the bankers' tiny little hearts.

1331 days ago
86.

NoBreederRat    

Hello??? Green Dot pre-paid cards backed by Citi Bank have been charging the same type of fees for a long time.

1331 days ago
87.

The Truth    

If any other group of sisters did what these sisters do, everyone would call them on it. They are Gold Diggin Hoes and that mama is a bigger Pimp then Hugh Hefner. Honestly can you picture Cloe walking up to Lamar on a street corner and saying "hey you are hot, I wanna be your wife" if he's wasn't a rich basketball player? and Kim is the biggest hoe in hollywood. Little retarded Courtney is playing catch up, but I'm sure mama will find her a money man to ride on. Remember... if it can be bought, it can also be SOLD! or past around like yesterdays trash. Food for the Mind!

1331 days ago
88.

Ed    

I know the people that brought this card to them and it was Kris who wanted to charge those prices. She wanted to make as much as possible for them. She was warned that the price was a lot higher than normal cards but wanted to go with it any way. This family business put their heart and soul into creating this deal with them and got burned but the Kardashians will go on. All the money was returned to the people that got the cards but ask Kris if the family that gave a LARGE up front down payment to them will get their money back to the family owned business that created this deal. I feel for the family as how this is going to affect them. As far as i am concerned i will never support the Kardashians again in any form.

1331 days ago
89.

In L.A.    

I agree, botox, sex tapes, and plastic surgery are not positive influences on youth. The Kardashians knew what they were getting into - fees and all. They saw an opportunity to make more money and they signed on the dotted line. They got caught and are now trying to disassociate (Reneg on the contract I'm sure they signed). Second, most if not all of the pre-paid debit cards charge similar outrageously excessive fees. It's an appalling lie that they were not aware.

1331 days ago
90.

Isaiah    

"The Kardashians have worked extremely long and hard to create a positive public persona that appeals to everyone, particularly young adults."


lmfao

1330 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

Around The Web