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Kardashians end prepaid credit card deal

Created: On December 10, 2010 @ 1:35 pm In

We recently wrote about the [1] Kardashian prepaid debit card being hawked by reality TV stars Kim, Kourtney, and Khloe Kardashian. Since then the Kardashian sisters have cut their ties to the card after a flurry of complaints about excessive fees associated with the card that was targeted at teens.

Celebrities and cartoon characters

Although the Kardashians were smart to pull out of their prepaid debit card deal to avoid further backlash, it appears that other prepaid cards are being marketed to teens using celebrities and cartoon characters. Myplash has prepaid MasterCards for teens with over 100 designs that include characters such as those from the Twilight movies, according to an article at [2] TheStreet. Teens can also get a prepaid card with cartoon characters, athletes, and musicians.

While some parents may think these prepaid debit cards are a way to help teens avoid [3] credit card debt, it’s important to remember that they usually have a lot of fees. Some common fees for prepaid cards are activation fees, monthly fees, reload fees to add to the balance, and inactive account fees. There may even be fees to receive paper statements, make electronic bill payments, or contact customer service.

Avoiding credit card debt

There are a lot of ways to teach teens about avoiding credit card debt, but prepaid debt cards aren’t necessarily the best way to do that. If you choose to sign your kid up for a prepaid credit card, make sure he is fully aware of all the fees involved in order to make the most informed choices about using it. If your teen already needs [4] help with debt, avoid signing up for new cards until existing balancesĀ are paid off.

Article printed from DebtHelp.com Blog: http://www.debthelp.com/blog

URL to article: http://www.debthelp.com/blog/2010/12/10/kardashians-end-prepaid-credit-card-deal/

URLs in this post:
[1] Kardashian prepaid debit card: http://www.debthelp.com/blog/2010/11/12/kardashians-target-teens-with-prepaid-credit-card/
[2] TheStreet: http://www.thestreet.com/story/10942192/1/cartoons-twilight-sell-prepaid-cards-to-teens.html?cm_ven=
GOOGLEN

[3] credit card debt: http://www.debthelp.com/blog/2010/12/06/how-to-avoid-credit-card-debt-during-the-holidays/
[4] help with debt: http://www.debthelp.com//