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Tuesday
Nov302010

Kardashians Pull Prepaid Debit Card Off the Market Amidst Criticism

Photo Courtesy - Getty Images(WASHINGTON) -- The Kardashian card is no more, and the reality TV stars behind the prepaid debit card debacle don't want to talk about it.

"We are not working with the bank anymore and that's all we're allowed to say," Kourtney Kardashian told ABC News on Tuesday.

On Monday, Dennis Roach, lawyer for Kim, 30, Khloe, 26, and Kourtney, 31, announced the Kardashian sisters were pulling their name off the Kardashian Prepaid MasterCard after being slammed for the card's hefty fees. The decision came in the wake of Connecticut Attorney General Richard Blumenthal's investigation into the card. He called the card's fees "predatory."

Last week, Blumenthal -- who is the state's U.S. Senator-elect -- warned consumers of the perils of credit cards marketed at young adults and revealed that he demanded University National Bank, which issued the Kardashian Kard, provide specific details about how the card is promoted and sold in Connecticut.

"Keeping up with the Kardashians is impossible using these cards -- laden with pernicious and predatory fees that swallow card value," Blumenthal said in a statement. "These cards are feckless financial tools designed to promptly diminish in value with virtually every transaction -- and even when consumers don't use the card at all."

In addition to Blumenthal, Consumers Union, the nonprofit publisher of Consumer Reports, chastised the Kardashians for promoting a fee-heavy card and cautioned other celebrities against blindly promoting products.

Copyright 2010 ABC News Radio

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