The Kardashian Prepaid Mastercard (Kardashian Prepaid Kard)
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The Kardashian Prepaid Mastercard (Kardashian Prepaid Kard)
Update: The Kardashian Credit Card has been discontinued. If you’re looking for a prepaid card, you can try the Excella Visa Prepaid Debit Card or the Western Union Reloadable Prepaid Visa Debit Card. You can also try People’s Cash Solutions.
The Kardashian sisters are pushing a new prepaid credit card: the Kardashian Prepaid Mastercard. It will be targeted towards the younger set. Apparently, kids as young as 13 will be eligible for the card. How do they plan on getting away with it? Well, the card will be marketed as a tool to help parents keep track of their kids’ spending habits.
Related: Bank accounts for kids
The Kardashians are not the first in the celebrity trend of endorsing prepaid and credit cards. Traditionally used mostly as second chance checking accounts, their use has increased lately. It helps that they’re branded by Visa or Mastercard: this means that you can use them wherever those cards are accepted, so more and more people have been using them as a means of payment. As credit becomes harder to get and people grow tired of paying interest and late charges, the market for prepaid debit and credit cards has grown. Some parents are using them to teach their children basic money management skills, and in that sense they can be extremely convenient since you can’t get into debt by using them.
Because the card is a Mobile Resource Card it means you can manage all your money from your phone and transfer funds from your phone to your card when you need it, instead of having to go to an ATM.
Mobile Resource MasterCard is offered through University National Bank pursuant to a license by MasterCard International Inc. The prepaid card offers and innovative mobile banking platform that serves as a FDIC insured bank account allowing cardholders to purchase goods and services, withdrawal money from an ATM, receive money and pay bills through a mobile phone, online or anywhere MasterCard Debit is recognized. As opposed to a stored value card, the Mobile Resource MasterCard is linked to a protected bank account should loss or theft occur. The cards are also reloadable through employer direct deposit, tax return refunds or government benefits sources. As a state-of-the-art mobile payment solution, the Mobile Resource MasterCard partners with the mobile phone as a trusted device for commerce and transactions, not just communication.
Some people might say that giving a 13-year-old a credit card is a horrible idea. The company feels that giving kids the credit card will teach them how to manage money without getting into any financial trouble since their parents will be in charge of how much they can spend.