10 Sleazy Celebrity Endorsements
When they are not pimping out their tweets, the Kardashian family is apparently always on the hunt for unique business opportunities to fit their brand.
So, of course, they turned to the financial services industry.
The late 2010 launch of the Kardashian Kard, a prepaid debit card bearing the image of the three reality-show sisters, was a disaster from the start and a move even these sirens of sleaze should have been smart enough to avoid.Produced by Minnesota-based University National Bank, the card was notable for having an upfront fee of $59.95 for six months and $99.95 for a dozen. After that there would be a $7.95 monthly fee and a host of other charges (a $1 fee to check the balance, $1.50 to speak with customer service, $6 to cancel the card). "The family is marketing a dangerous financial fantasy," Connecticut Attorney General Richard Blumenthal (now a U.S. senator) said in a statement at the time of the card's launch. "Ironically, the Kardashian Kard will distance consumers from the financial abundance key to the Kardashian's lifestyle. Consumers lose money before they can use it with this card." The Kardashians were shocked, shocked, I tell ya. As negative news stories mounted, their lawyer drafted the following bit of spin to terminate the whole arrangement (surely disappointing the whole 250 people who'd actually signed up by that time): "The Kardashians have worked extremely long and hard to create a positive public persona that appeals to everyone, particularly young adults," he wrote in a letter to the bank that was conveniently copied to Blumenthal. "They have been successful in doing so because they are recognized as honest, ethical and fun-loving individuals who are kind and caring to others. Unfortunately, the negative spotlight turned on the Kardashians as a result of the attorney general's comments and actions threatens everything for which they have worked." So, to recap, the girls and their "people" jump on a chance at a quick buck, take heat, renege on that agreement and then can't resist a final sarcastic dig at a public official for having ... OMG ... the audacity to point out their name was on a product ripping people off with fees more than 10 times the national average.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts