Suze Orman came out with her own debit card this week, called the Approved Card. It’s received a lot of attention — not all of it positive. Some people are aghast that a personal finance expert would push her own product to her loyal following. I have no problem with that. I don’t even mind her making lots of money on it. But it had better be a good deal at the same time.
Last week’s blog about a local discount gas purchase program that doesn’t offer reloadable gift cards was selected for the Carnival of Personal Finance’s 326th blog carnival.
Canadian Dream, the blog host, recognized the Taking Charge blog for its savings message. Although a Texas grocery store chain is sponsoring a promotion to sell gas for 11 cents less than the market price, the store doesn’t provide reloadable gift cards to use for the purchase. Instead, customers must obtain new cards — and throw the old ones away — each time they exhaust the funds loaded on to a card. We wonder why the cards aren’t reloadable to save the environment.
Less than a month after its debut, the Kardashian Kard may be kaput. Kanned, Kanceled. Klipped. Kremated.
The prepaid debit card featured high upfront fees ($59.95 for six months or $99.95 for a year-long membership) and was heavily marketed to teens and young professionals. Consumer groups warned teens, their parents and young adults not to be swayed by the card’s hip promoters, celebrity sisters Kim, Khloe and Kourtney Kardashian.
Consumers Union, the nonprofit owners of Consumer Reports magazine, even started a campaign asking consumers to sign e-cards urging the Kardashians to take their names off the prepaid card.
It looks like they’ve done just that.
It’s one thing to be hip and cool, but don’t let the cool thing of the moment lead you to make bad money decisions.
That’s the message behind a warning issued today by a leading consumer advocacy group about the Kardashian Kard, a new prepaid debit card being marketed to teens and young adults. As its name implies, the card is backed by the Kardashian sisters, Kim, Kourtney and Khloe, the stars of the E! cable network reality series about their lavish lifestyles, “Keeping up with the Kardashians.”
Last week, when the Kardashian trio announced they were lending their names and celebrity to a new prepaid debit card, the general reaction from smart money watchers was: Keep away.