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The Kardashian Sisters Launch Kids' Credit Card
Filed under: In The News, Celeb News & Interviews
The Kardashian sisters -- Kourtney, Kim, and Khloe -- break into the financial market with a prepaid credit card. Credit: Jerritt Clark, Getty Images
The Kardashian sisters are adding one more business venture to their repertoire: The official Kardashian prepaid credit card.
Kim, Khloe, and Kourtney Kardashian have partnered with Mobile Resource Card to create this card and to help teach kids money management skills. After all, who better to teach the value of a dollar than these Bentley-driving sisters infamous for their lavish Rodeo drive shopping sprees?
Parents can use their cellphones to track their kids' spending on their prepaid cards. The New York Post reports that it is being marketed as a way to keep kids safe.
Tomorrow, November 9th, the sisters will launch the card at a New York City nightclub, and the product will be available the next day, PR Newswire reports.
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ReaderComments (Page 1 of 1)
11-08-2010 @ 1:44PM
Joe said...In this economy do we realy need to give are children credit? I think we need to teach them work ethic first, cut grass, rake leaves, take out garbage, in other words help your elderly neighbors if they can't aford to pay them you slide them a few bucks yourself. We need to TEACH our children first.
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11-09-2010 @ 4:24PM
Sarah said...Teaching kids to spend wisely so that they do not abuse things like credit cards. But so many will because their parents don't give a rip! Find some great savings and samples at Http://bit.ly/dailysample
11-08-2010 @ 3:35PM
Cheryl said...This just goes to prove even further how out of touch celebs are. It's the most outrageous thing I've heard in a long time.
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11-09-2010 @ 12:20AM
Patrice Peyret said...Most celebrities are not role models for teenagers to learn responsible spending from. Especially not celebs who are famous for being shopaholics.
Parents, keep this in mind if your teens are clamoring for a celebrity prepaid card.
Now, I have not seen the Kardashian card which will be released only tomorrow, so I can't comment on how suitable it is for teens.
Disclosure: my own company distributes a prepaid card sponsored by NBA All Star player Amar'e Stoudemire. Amar'e had a challenging childhood, spends quality time with kids in schools, has created a foundation and raised money for families and kids in Sierra Leone. So he is definitely someone we wanted to be associated with. And one of our teen cards sponsored by him has no monthly fee, no activation fee, no yearly fee, so it is really accessible to all.
Parents should always carefully evaluate the financial services they want to expose their teenagers to.
Unlike cash, a prepaid card can be monitored by a parent, and offers some protection in case of loss. Unlike credit cards, they don't induce debt and can't damage a credit record.
But not all prepaid cards are created equal: check the fees and list the features.
And make sure the motivation is not only pretty and famous faces on the front of the card.
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11-09-2010 @ 2:32PM
Jennifer from NBPCA said...The Network Branded Prepaid Card Association (a nonprofit dedicated to enhancing the consumer experience with prepaid cards) offers a few tips that will ensure positive experiences for kids and their parents that choose a branded prepaid card:
•Shop around for the right card for you. You can find a branded prepaid card online, at banks or at major retailers and grocery chains. All cards come with different fee structures, features and benefits, (including interest bearing savings accounts) so compare a few to get the card that fits your specific needs. There are some cards designed specifically for kids and their parents
•Understand the terms and conditions. Read the information that comes with the card. Pay special attention to fees (if applicable) and when those fees are charged. There can be fees to check the balance, load funds, get cash at an ATM or for other services. Also, check the card’s expiration date and policy.
•Keep track of your child’s card balance. Most cards offer a phone, text or online option to do this. Developing a disciplined approach to spending and staying aware of the card’s
•Familiarize yourself with the security and loss prevention features of your card. Register your card when you get it. The value associated with the card can be recovered if the card is lost or stolen when you report it to the customer service number.
Find more information find the Network Branded Prepaid Card Association on Facebook.
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11-09-2010 @ 1:11PM
Alicia said...Seems a bit odd to get your child used to using credit. My parents instilled in me a fear of plastic and you know what, until I got my first apartment at 19, I paid my credit card bill in full every month, do my best to pay more than minimum and as often as possible (twice a month instead of once, etc) and I still wish I'd never gotten a credit card. That thing is the bane of my existence and I haven't even used it in five months.
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11-09-2010 @ 5:24PM
David S. said...Exactly how is this prepaid card supposed to keep kids "safe?" How about not giving them one to begin with? Anyone that takes parenting advice from these three airheads might want to consider a brain scan.
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11-10-2010 @ 3:17PM
Danya said...You can't give your kid a credit card without teaching how to manage money first. That's a recipe for disaster. But in our celebrity obsessed culture some parents might get this for their kids. We use a great site called www.threejars.com to to teach our kids about saving, budgeting and giving to charity, instead of just handing over money or a credit card.
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