Fish and dairy, running and scissors, Kim Kardashian and MasterCard: Three examples of things that should not mix. Looks like the Kardashians were not satisfied with infiltrating TV programs, magazines, clothing lines etc., because now they are going after the financial industry.

Kardashians Partner with MasterCard

The Kardashian Kard, made available today, is a prepaid debit card targeted at teens that allows parents to give money to their teens while tracking their kids’ spending habits using mobile technology. Mobile Resources Card announced its plans to partner with the Kardashian sisters and MasterCard to bring an “innovative financial product” to the public.

In an interview with Australian show Project TV, Kim Kardashian said, “Not spending money would be hard.” She later went on to say, “I could cope with being celibate,” rather than not spending money. This isn’t the first time fame and finances have mixed, which brings up the question of whether celebrities are appropriate financial role models. After Kim spent $100,000 on a few handbags in Paris, our vote is: no.

From left to right: Khortney, Kim and Khloe

Should You Sign Up For the Kardashian Kard?

As if the idea of having a celebrity with no financial boundaries give money management advice doesn’t already seem like a bad idea, the Kardashian Kard also comes with unnecessarily high fees. The Kardashians are not the first to release a prepaid debit card directed at teen spending, Visa launched a similar card in 2001. The Visa Buxx card gives parents the ability to monitor their children’s spending habits while allowing for some independence. A big difference between the Kardiashian Prepaid MasterCard and the Visa Buxx card are the fees associated with each.

FeatureVisa Buxx FeeKardashian Kard Fee
Monthly Fee$0-$5$7.95
Card Purchase$10-$15$9.95
Reload Fee$0-$2.502.5% surcharge of the transfer amount plus $1 transaction fee
Card Replacement$10$9.95
12 Month Payment Option$15-$75$99.95

* Visa Buxx fees vary by bank.

Basically users are paying the Kardashians $100 to get a piece of plastic with their faces on it. The Kardashian Kard is not cost efficient, much like its spokeswomen. If you are looking for a way to teach your teen smart spending MyBankTracker suggests going a different route.

Did we miss a good reality TV star? Or do you think the prepaid card is a bad idea? Let us know in the comments!

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  • Silversurfer

    Really, is this KarCashian Kard puff piece necessary? You should be ashamed for helping legitimize a bunch of (blanks) as role models for young female consumers, who I doubt have a single professional or college degree between them. This is a disservice to both your readers and anyone lured luring into signing up for this rip-off. The exorbitant fees and charges for the Kash Kard smack of the “Pay Day” check cashing scam. If anything, you should have included a list of the lowest cost prepaid cards for your readers to compare. By the way, in these tough times, how many of your female readers can fly to Paris and spend $100,000 on a few hand bags? Of course, if you help sell enough of their Kards, the KarCashians might be able to go every week. Finally, I’d like you to disclose the fees My Bank Tracker received for promoting this product.