Would you want a prepaid credit card with a picture of the Kardashian sisters on it? While it may seem like an odd combination, that’s exactly what Mobile Resource Card plans to offer. And I’m guessing the marketing move will work, meaning you’ll pay a lot more for the Kardashian card than you will for other prepaid cards. Here’s the deal.
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. And that’s been good news for consumers because there are now several free prepaid credit cards available. My personal favorite and the one I use is the Mango MasterCard. It costs nothing to get the card, and if you load $500 or more a month on the card, there is no monthly fee. And there is no fee to use the card online, over the phone, or at a store. And there is even a high interest savings account that you can open with the card that currently pays more than 5%. In short, the Mango MasterCard is a solid low fee card.
But as good as the Mango card is, the RushCard Prepaid Visa is a much more popular card. Is it because it has low fees, too? No. In fact, the RushCard charges some of the highest fees I’ve seen. Depending on which RushCard you get and how you use it, you pay an activation fee of $3 to $19.95, a monthly fee of $9.95, and a transaction fee of $1 each time you use the card. So why then is the RushCard so popular? The answer can be summed up in a single word–marketing. Def Jam’s Russell Simmons is behind the RushCard, and the card is marketed under the Baby Phat brand, among others. And as a result, Russell Simmons can move a lot of cards, regardless of the fees.
And that brings us back to the Kardashian prepaid card. To give you an idea of what we can expect from this card, here’s how Kourtney Kardashian described the card on her website:
This is something we’ve been keeping under wraps for a while, but we can now reveal that we are launching our own Kardashian Prepaid MasterCard with Mobile Resource Card.
The card is that it acts like your own bank account (it’s a debit card, not a credit card) and you can transfer money from a mobile account to your card, using your phone. You can literally manage all your money from your phone and even transfer money to friends and family, even if they don’t have a Kardashian card.
We’re all attending the launch event at PACHA NYC on November 9, and I’ll give you more details on the card and the event soon!
Now everyone can go shopping with us, lol!
LOL, indeed. So here’s the question of the day–would a prepaid card with a picture of the Kardashian sisters on it prompt you to get the card?
Published or updated September 12, 2011.