Wednesday, November 10, 2010

Give us some credit... Do the Kardashians really expect us to pay $100 to use their MasterCard?



High interest: Kim, Khloe and Kourtney Kardashian arrive at the launch of their official prepaid MasterCard in New York last night

At the rate they're going, the Kardashians will soon take over the world.

They're growing business empire already includes a chain of retail stores, fragrance, and a sunless tanning line as well as their three reality shows and numerous endorsement contracts.

And now they are plugging their very own MasterCard... and charging us $99.95 for the privilege of using one.

Kim, Khloe and Kourtney arrived at the launch of their prepaid debit card, called the Kardashian Kard, at Pacha nightclub in New York last night.

The sisters were dressed to the nines for the event, which was filmed as part of their latest reality series Kim & Kourtney Take New York.

Kim, 30, wore a very short black and sequined gold dress that included a mesh neckline and sleeves, and her hair pulled back in severe bun.

Younger sister Khloe, 26, also opted for the mesh trend, in a slightly more demure long sleeved, knee length black dress and booties.

Don't mesh with us: Kim and Khloe both wore dresses with mesh sleeves, with Kim going short and gold and Khloe opting for a more demure style

Kourtney, 31, continued the sheer theme with a see-through black blouse with a short skirt.

Breakout star of the family Kim is worth a reported £40 million alone, but even so, the sisters are already receiving criticism for their teen-aimed product, which some say is 'irresponsible.'

At the event last night, Kim insisted their product is to teach young people about money.

'When we were growing up, we didn't have credit, we didn't know what it was like to try and get your first credit card,' she told Entertainment Tonight.

Stylish: Eldest Kardashian Kourtney, 31, wore a sheer black blouse with a skirt and stockings to the launch, which was filmed for their reality show

'But with this one you don't need credit, you don't even need a bank account.

'We wanted to provide people with something where they could learn their budgets, there is a spending limit on it. We are so excited that so many people are into this idea.'

But financial experts are concerned that the wealthy Kardashians' luxurious lifestyle is setting a bad example for young fans hoping to emulate them.

The trend-setting stars are often filmed shopping and never step out in anything less than head-to-toe designer labels.

Would you sing up? The Kardashian prepaid debit MasterCard costs $99.95 for a year and $59.95 for six months

The contradiction was made all the more the obvious last night when seconds after waxing lyrical about educating teens about their spending habits, the reality star admitted to splashing the cash.

Asked by the interviewer who of the sisters spends the most money, Kourtney answered without hesitation, 'Kim. Without question, Kim.'

Kim nodded in agreement, admitting, 'It's true.'

The Kardashian Kard, which comes loaded with $5.00, but also has a one off purchase fee of $9.95, has a 12 month or six month payment option.

Bad influence? Designer label lover Kim was spotted shopping up a storm with publicist Simon Huck in New York earlier that day

To use the card for a year, there is $99.95 (£62.47) fee, while six months will cost $59.95 (37.47). There is a $7.95 monthly fee thereafter, but the card offers no interest.

'This is going a little too far,' says Farnoosh Torabi, author of You're So Money: Live Rich Even When You're Not, a financial How To book for young adults.

The financial expert told the Philadelphia Daily News: 'Now we are getting into territory that I have to say is irresponsible. It lures the consumer to a product under false pretenses.'

'These celebrities portray a lifestyle that is aspirational. We underestimate how much celebrity culture can influence people's perception of money and perceptions of wealth.'

source: dailymail


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