SEARCH

Entries in Keeping Up with the Kardashians (1)

Friday
Nov262010

Conn. AG Issues Warning on Kardashian-Backed Teen Credit Card

Kim Kardashian at the Kardashian MasterCard launch event in New York City. Photo Courtesy - Getty Images(HARTFORD, Conn.) -- If you want to keep up with the Kardashians, the family's new credit card that targets teens may not be the way to do it.

In a statement released Friday, Connecticut Attorney General Richard Blumenthal warned consumers of the perils of credit cards marketed at young adults and disclosed that he has demanded that University National Bank, which issues the Kardashian Kard, provide specific details about how the card is promoted and sold in Connecticut.

He said that the card appears to invoke the E! reality stars’ extravagant and luxurious lifestyle, while specifically targeting young adults. The "gotcha fees" and other charges will cause consumers to lose money before they can even use it, he said.

University National Bank did not immediately respond to a request for comment from ABC News.

Earlier this month, the Kardashian sisters -- Kim, 30, Khloe, 26, and Kourtney, 31, celebrated the launch of their Kardashian Prepaid MasterCard at New York City's Pacha nightclub.

Kim and her sisters teamed with MasterCard to create a prepaid credit card for teens as young as 16 years old. The card allows parents to put a predetermined amount of money on the card, then track their teens' spending habits via cell phone.

The Kardashian card isn't the first prepaid credit card targeted at teens. The Visa Buxx card, which also allows parents to put a fixed sum of money on an account, was launched last decade.

Copyright 2010 ABC News Radio







ABC News Radio