Is Kim Kardashian’s Credit Card For Kids The Worst Card Ever?
A little over a week ago, Kim Kardashian launched a Kardashian-branded credit card targeted towards children and teens. While the audacity of marketing a credit card for kids during a recession wasn’t lost on us, our concerns were somewhat quieted by the fact that it was a pre-paid MasterCard — in other words, this wasn’t about encouraging teens to rack up thousands of dollars in debt. But oh, how wrong we were.
Business Insider took a closer look at the hidden and not-so-hidden fees associated with The Kardashian Kard, which boasts “No credit checks, overdraft fees, minimum balance, or bounced checks” right there on the homepage. While the card itself costs somewhere between $59.95 and $99.95 to activate, there’s a monthly fee of $7.95 added on after the first six to twelve months of service, depending. And you better not lose your K-Kard, because getting a new one will run you at least 9.95 — but up to $25.00 if you, you know, need it right away.
And here’s the rest. (We’ve also included a screenshot of the K-Kard’s “Fee Schedule” document which we found on the website.)
ATM Withdrawal – Domestic $1.50
ATM Inquiry or Decline – Domestic $1.00
ATM Withdrawal – International $2.50
ATM Inquiry or Decline – International $2.00
Point of Sale – Decline -Domestic $1.00
Point of Sale – Decline – International $1.00
External Checking or Savings Transfer (To/From) $1.00
Account to Account Transfer * $1.00
Retail Load Fee (MoneyGram) $1.00
Load Account by Debit/Credit Card ** $1.00
Cancel Account – Request Balance Mailed by Check $6.00
Service Center Care-Live operator $1.50
Bill Pay – Per Item $2.00
* Fee for transferring money from external accounts and to other cardholder accounts
** 2.5% surcharge of transaction amount applies
Now, we don’t normally give out monetary advice, but consider this a special PSA. Don’t get this card for your kids — or yourself. All credit cards are a pain in the you-know-what, but this one might just be the worst.