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Celebrity-endorsed pre-paid credit card pulled from shelves.
A sex tape and a reality TV show, Keeping Up with the Kardashians, are what upgraded Kim Kardashian from socialite to celebrity. No stranger to controversy, the 30-year-old daughter of O.J. Simpson’s former lawyer, Robert Kardashian, has had her celebrity-endorsed pre-paid credit card pulled from store shelves this week.
With an activation fee of between $60 and $100, and a monthly charge of $8, the card received plenty of criticism, most notably from Connecticut Attorney General Richard Blumenthal, who says the card unfairly takes advantage of consumers.
The card was issued by University Bank, under the MasterCard network. Widely dubbed the worst credit card in history, terms such as “predatory” and “gotcha marketing” have been used to describe it. While pre-paid cards have their benefits — especially during Christmastime — they “are typically marketed to those who do not have bank accounts (think illegal immigrants or minors), and who either can’t read or don’t know any better than to look into the fine print on the customer agreement,” writes TheStreet’s Laurie Kulikowski. Many of Kardashian’s fans, largely the e! Entertainment-watching crowd, might fall into that category.
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