Just when you thought we’d seen the financial services industry at it’s shadiest… they found a way to partner with someone even worse, Hollywood.
The Kardashian Kard is a prepaid debit card with outrageous fees ($195.35 in the first year, nickels and dimes all over the place). It doesn’t help that the cards are targeted at financially naive young adults without checking accounts either. Even the Kardashians couldn’t read the fine print and are now backing out of the deal to escape all the bad PR it is causing.
But as an MBA student I must respect their ingenuity. I think I’m going to shoot the issuer, University National Bank, an email pitching the Lindsay Lohan card with a rewards program pushing pocket size mirrors and cash rewards. Lab To Market project anyone?