Kim Kardashian's new credit card, The Kardashian Kard, has a terrible pricing model. It's a prepaid card, which means it targets kids. But it costs between $60 and $100 to activate—an unprecedented starter fee for prepaid cards.
Analyst Zilvinas Bareisis tells American Banker: "I am baffled - this card doesn't seem to make sense at all, it appears to be targeted at teenagers, yet with ridiculous fees. If there is such a thing as a luxury prepaid market, then it's not going to be the teens."
Here's the full list of abnormally high fees:
Card Purchase (Includes monthly fees for 6 months) $59.95
Card Purchase (Includes monthly fees for 12 months) $99.95
Monthly Fee (Applies after initial purchase period) $7.95
Card Replacement - Primary or Companion $9.95
ATM Withdrawal - Domestic $1.50
ATM Inquiry or Decline - Domestic $1.00
ATM Withdrawal - International $2.50
ATM Inquiry or Decline - International $2.00
Point of Sale - Decline -Domestic $1.00
Point of Sale - Decline - International $1.00
External Checking or Savings Transfer (To/From) $1.00
Account to Account Transfer * $1.00
Retail Load Fee (MoneyGram) $1.00
Load Account by Debit/Credit Card ** $1.00
Cancel Account - Request Balance Mailed by Check $6.00
Service Center Care-Live operator $1.50
Bill Pay - Per Item $2.00
Replacement Card Expedite Fee (Overnight) $25.00
* Fee for transferring money from external accounts and to other cardholder accounts
** 2.5% surcharge of transaction amount applies
Republished with permission from BusinessInsider.com. Authored by Gus Lubin. Photo via KardashianKard.com.