The Kardashian Kard won't last long enough to collect its first round of monthly service fees, according to the bank involved in the reality television stars' financial venture. Officials from University National Bank told reporters that only 250 consumers had signed up for accounts before the family and the bank terminated their marketing agreement. Cardholders will receive full refunds of all balances and service charges.

Like other prepaid debit cards, the Kardashian Card required consumers to pay activation fees and monthly service fees in exchange for use of a reloadable MasterCard. The E! Television stars justified the higher than average maintenance costs by offering membership privileges that included boutique discounts and the promise of special fan access experiences.

However, lawmakers and consumer advocates called the card "pernicious" and "predatory." Meanwhile, parents across the country questioned whether Kourtney, Khloé, and Kim Kardashian could serve as role models for financial responsibility. Connecticut's Attorney General launched an investigation into whether the product violated gift card rules specified by the Credit CARD Act. That investigation prompted the Kardashian family's attorney to cancel the card's nationwide rollout.

About the Author


Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.