Financial mega-guru Suze Orman gave the Kardashian girls a good, new-fashioned metaphorical spanking the other night when she publicly shamed them on Facebook.
Orman couldn’t believe Kim, Khloe and Kourtney understood the terms of a pre-paid debit card bearing their image and advised them, in her Facebook status and on Twitter to pull the card.
“As I am watching Dancing with the STARS for some reason I am thinking about the Kardashian prepaid credit card thinking there is no way they knew that the card was such a rip off for the kids they want to use it. Come on gals pul it off the market and put your name or image to something that is great. Makes ME want … to bring out a great card that really does help rather than hurts for FREE- but prepaid cards are way too expensive- I would not use one if I were you- there are better ways my friends- someone needs to tell them– KIM there is no reason for you to SKIM them kids- shame shame shame Okay back to DWTS”
Paula described the card and it’s incredibly awful terms for not only the purchaser but eventual recipient of the card. You pay $10 just to get the plastic emblazoned with images of the Kardashian beauties. But there’s also a $7.95 monthly usage fee. Meaning one gives the Kardashians and the card company $100 per year for … for what again? It’s basically a Target gift card only with more shopping options. You wouldn’t pay for a Target gift card, would you?
Former Strollerderby contributor Helaine Olen wrote about Orman’s reaction to the prepaid credit card over on Slate‘s Double X blog. She says Orman’s not exactly shy about promoting herself for financial gain, but that her heart is likely in the right place.
“… there is the other Suze Orman. That’s the Suze Orman who can stand up last month on a stage at the Long Beach Convention Center at Maria Shriver’s Women’s Conference and tell a crowd of several thousand that under no condition are they to raid their retirement accounts or run up credit-card debt in an attempt to make monthly mortgage payments on underwater homes. That Suze Orman reminds women that they cannot protect their children’s financial future if they cannot provide for their own. And that’s the Suze Orman who emerged on social networking sites last night to take the Kardashian clan (or should I say klan?) to task for ripping off their fans.”
On Orman’s offer to come up with a free card is one thing. What I’d really like to see, though, is an overhaul of financial literacy education in this country. Maybe Suze Orman is up for some school-age curriculum development — for free, I mean. And also without that pesky celeb habit of emblazoning images of oneself all over the page.
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